Graph Database Market Size
Graph Database Market was valued at USD 2.6 billion in 2022 and is expected to achieve a CAGR of more than 18% during the forecast period of 2023-2032. Rising demand for real-time big data visualization and mining is strongly propelling the growth of the market. They assist companies in uncovering hidden trends, identifying outliers, and making data-driven decisions in real-time. This potential propels graph database adoption by sectors, catapulting market expansion as companies seek data-driven decisions and use graph databases to attain dynamic, real-time insights.
To receive crucial market trends
Download Sample Ask for Discount Request Customization
As companies move their applications and data to the cloud, the need for cloud-native graph databases increases, opening up the market and allowing businesses of all sizes to leverage the potential of graph technology for a range of use cases. For example, in June 2023, Neo4j announced new integrations with Google Cloud's Vertex AI, adding advanced generative AI capabilities to its graph database and analytics offerings.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Graph Database Market Size in 2022 | USD 2.6 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 18% |
| 2032 Value Projection | USD 13.1 Billion |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 390 |
| Segments covered | Component, Type, Deployment Model, Application, and Industry Vertical |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Download Sample Ask for Discount Request Customization
Complexity of data integration in graph databases creates the challenges of integrating varied data sources into a single graph database. Various data formats, schemas, and sources can create problems like data silos & data transformation bottlenecks. In order to overcome these challenges, organizations need to invest in strong Extract, Transform, Load (ETL) tools and middleware that automate data integration processes. In addition, using standardized data formats and hiring data integration specialists can make integrating multivariant data sources into a graph database easier.
COVID-19 Impact
The COVID-19 pandemic positively influenced the graph database market due to ramped-up digital transformation efforts. With remote working and online communication becoming the new reality, organizations heavily depended on data-driven decision-making, where graph databases are adept. Sectors such as healthcare utilized graph databases for contact tracing and patient management. In addition, e-commerce and social media witnessed increased demand for personalized recommendations, leading to the use of graph databases.
Graph Database Market Trends
The use of graph databases in conjunction with graph analytics and Machine Learning (ML) is a prevalent trend in the graph database market. Through the use of graph analytics, businesses can discover complex patterns, detect anomalies, and derive meaningful insights from complex relationships within their data. The coupling of ML further expands these capabilities, allowing predictive modeling and automated decision-making based on graph-based patterns. This trend enables organizations to make data-driven decisions, improve customer experiences, identify fraud, and streamline operations, thus making graph databases an essential piece for advanced analytics & AI-powered applications.
Top vendors provide DBaaS solutions, making it more accessible to a broad set of businesses to avail the advantages of graph databases without the overhead of management. Database-as-a-service startups like EdgeDB, Aiven, Compose, and Tesora Corp. are driving the market growth.
Graph Database Market Analysis
Discover more about the major segments defining this market
Download Sample Ask for Discount Request Customization
The segment of software comprised approximately 69% of the graph database market share in 2022 and is likely to show strong growth. The rising usage of graph databases in various industries is fueling the need for graph database software solutions. The increasing trend of cloud-based solutions and graph Database as a Service (DBaaS) requires the deployment & management of software components. Nevertheless, continuous software evolution, open-source alternatives, and sector-specific applications will drive segment growth since companies are in pursuit of efficient & scalable software solutions to leverage the power of graph technology to analyze data & make informed decisions.
Discover more about the prominent segments defining this market
Free Sample Download
The IT & telecom industry commanded approximately 25% graph database market share in 2022. IT & telecom organizations are growingly implementing graph databases to increase their network management, streamline infrastructure, and facilitate customer experience. They leverage graph databases to structure intricate relationships between network elements, examine network traffic patterns, identify anomalies, and forecast future issues in real-time. By taking advantage of the graph database's capability to query and traverse connected data, these companies attain effective resource utilization, minimized downtime, and improved service quality.
Searching for region specific data?
North America led the world graph database market with more than 33% market share in 2022. It has a booming technology ecosystem where data-driven decision-making is paramount, and therefore, it's an ideal market for graph database adoption. North America has leading industries such as finance, healthcare, e-commerce, and social media that heavily depend on graph databases for fraud detection, recommendation systems, and customer analytics. In addition to this, the growing needs for cloud-based products and the availability of prominent graph database vendors in the region.
Graph Database Market Share
Key players in the graph database market are
Microsoft Corporation
Amazon Web Services
TIBCO Software
HPE
IBM Corporation
Oracle Corporation
These players are engaged in strategic collaborations, new product developments, and commercialization activities for business growth. They are investing large sums of money in R&D to launch innovative products and achieve maximum market revenue.
Graph Database Industry News
In August 2023, Aerospike, Inc. announced the availability of its graph database, Aerospike Graph, on Google Marketplace and Google Cloud. Aerospike Graph provides fast multi-hop graph queries with extremely high throughput, handling billions of vertices and trillions of edges. Benchmarks show more than 100,000 queries per second with sub-5ms latency, all without imposing minimal infrastructure needs. With this release, the company plans to make efficient & high-performance graph database features available to customers on Google Cloud and Marketplace.
This market research report on graph database includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
Click here to Buy Section of this Report
By Application
- Customer Analytics
- Risk Management & Fraud Detection
- Recommendation Engines
- Others
By Type
- RDF
- Labeled Property Graph
By Deployment Model
- On-premises
- Cloud
By Component
- Software
- Services
By Industry Vertical
- Banking & Financial Services
- Manufacturing
- Retail & E-commerce
- IT & Telecom
- Logistics
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Nordics
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Southeast Asia
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
Related Reports
FAQ'S
For a single, multi and corporate client license, the report will be available in PDF format. Sample report would be given you in excel format. For more questions please contact:
Within 24 to 48 hrs.
You can contact Sales team (sales@marketinsightsresearch.com) and they will direct you on email
You can order a report by selecting payment methods, which is bank wire or online payment through any Debit/Credit card, Razor pay or PayPal.
Discounts are available.
Hard Copy