Graph Database Market Expected to Reach US ~$11.60 Billion and CAGR 23.1% by 2030
The global graph database market size is expected to reach USD 11.60 billion by 2030 according to a new study by Polaris Market Research.
The emergence of the open knowledge networks assists in incorporating knowledge from diverse segments and presents schemes, datasets, and documentation to set up support knowledge-intensive applications to form a cross-domain knowledge network. Additionally, some knowledge graphs in this knowledge network remain proprietary and are generally expensive to utilize by researchers or academia.
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Accordingly, some federal, academic, and industry proficient have invented the open knowledge network to set up an open-source infrastructure that associates with the cross-domain data from related entities. Thereby, this initiative generates an available knowledge chart of whole globe knowledge, symbolized as relationships and entities. Hence, the arrival of open knowledge networks is considerably propelling the industry demand globally.
Based on the vertical, the BFSI segment dominates the global industry and is anticipated to fuel the industry over the forecasting period. Factors such as rising regulatory inspection, enhanced customer satisfaction standards, and benefits like tailored solutions and risk management are leading the industry demand across the BFSI segment.
The healthcare, pharmaceuticals, and life sciences vertical segment in the global industry is expected to show the fastest CAGR over the forecast period because of increasing penetration of the AI-based chart file tools & services across the segment.
Market participants such as ArangoDB, Bitnine Co, Ltd., Hewlett Packard Enterprise, Amazon Web Services, Inc., Blazegraph, DataStax, Cambridge Semantics, Dgraph Labs, TIBCO Software, Inc., MarkLogic Corporation, Free, Eccenca, Franz Inc., IBM Corporation, Microsoft, Neo4j, Inc., MongoDB, Objectivity Inc., Oracle Corporation, OrientDB, Openlink Software, Redis Labs, Stardog Union Inc., SAP SE, Teradata Corporation, and TigerGraph, Inc. are some of the key players operating in the global market.
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Polaris Market Research has segmented the graph database market report on the basis of component, type, application, deployment mode, vertical, and region:
Graph Database, Component Outlook (Revenue – USD Billion, 2018 – 2030)
- Professional Services
- Managed Services
Graph Database, Type Outlook (Revenue – USD Billion, 2018 – 2030)
- Labeled Property Graph
Graph Database, Application Outlook (Revenue – USD Billion, 2018 – 2030)
- Customer Analytics
- Risk, Compliance, and Reporting Management
- Recommendation Engines
- Fraud Detection and Prevention
- Supply Chain Management
- Operations Management and Asset Management
- Infrastructure Management, IoT, Industry 4.0
- Knowledge Management
- Content Management, Data Extraction, and Search
- Metadata and Master Data Management
- Scientific Data Management
- Others (Chatbot, Digital twin, Scientific, Product and Technical Information Management, Human Capital Management)
Graph Database, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Retail and eCommerce
- Telecom and IT
- Healthcare, Pharmaceuticals, and Life Sciences
- Government and Public Sector
- Manufacturing and Automotive
- Media and Entertainment
- Energy and Utilities
- Travel and Hospitality
- Transportation and Logistics
Graph Database, Deployment Mode Outlook (Revenue – USD Billion, 2018 – 2030)
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