Graph Database Market By Product, By End User, By Ship Type, By Material, By Application, By Region And Forecast 2023-2032|Oracle Corporation, International Business Machines Corporation, Amazon Web Services, DataStax, Stardog Union

The Graph Database Global Market Report 2023 by The Business Research Company, provides graph database market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Graph Database Global Market Report 2023, the global graph database market size is expected to grow from $2.08 billion in 2022 to $2.58 billion in 2023 at a compound annual growth rate (CAGR) of 23.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of global graph database is expected to grow to $6.20 billion in 2027 at a CAGR of 24.5%.

The increase in demand for graph analytics in machine learning and artificial intelligence (AI) is expected to propel the growth of the graph database market going forward. Graph analytics is a modern type of data analysis that assists businesses in understanding complicated interactions between linked entity data in a network or graph. Graph databases will provide graph models to represent relationships. They enable users to employ these models with pattern recognition, classification, statistical analysis, and machine learning, enabling more effective analysis at scale against vast amounts of data.

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The graph database market is segmented:

1) By Type: RDF, Labeled Propert Graph

2) By Component: Software, Services

3) By Deployment Mode: Cloud, On-Premises

4) By Application Type: Consumer Analytics, Deep Learning, Regulatory Compliance, Recommendation Engines, Identity and Access Management, Fraud Detection, Supply Chain Management, Other Applications

5) By End-Use: BFSI, Retail and E-Commerce, IT and Telecommunication, Transportation and Logistics, Other End-Users

Technological advancements are a key trend gaining popularity in the graph database market. Major companies operating in the graph database market are focused on developing new technological solutions to strengthen their position. For instance, in June 2021, Neo4j, a US-based graph database company, launched Neo4j version 4.3, with a single active and multi-passive structure of cloud scalability, Neo4j 4.3 represents an alternative to replicated DBMSs that is more conventional and provides cloud scalability and security advancements to database and security at the corporate level that ensures transactions with no data loss.

The graph database market report table of contents includes: