IMARC Group, a leading market research company, has recently releases report titled “Graph Database Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global graph database market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights

How Big is the Graph Database Market?

The global graph database market size reached US$ 1.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 21.2% during 2023-2028.

What is Graph Database?

Graph database (GDB) refers to the database that uses graph structure to store and represent data in collections of nodes and edges instead of columns and rows. It is widely used in recommendation engines, customer analytics, risk management, identification and access management, fraud detection, and master data management. It offers various benefits, such as enhanced computing power, indexing, querying, and storage for handling complex and large-scale data analysis compared to other database solutions. As a result, GDB is gaining immense traction for data management across numerous industries and sectors.

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What are the growth prospects and trends in the Graph Database Industry?

The global graph database market is primarily driven by the escalating need for effective data management across various industry verticals, such as retail, telecommunications, manufacturing, information technology (IT), banking, financial services, and insurance (BFSI). Moreover, GDB solutions can be extended easily with new vertices and edge types and are inherently flexible, which is accelerating the product adoption rate.

Additionally, the increasing product usage in supply chain management, social media data mining, and sales to determine the interconnection between a customer’s online behavior has augmented product demand. Besides this, GDB reduces complexity in a database and enhances accessibility by avoiding the generation and replication of many tables, which is another major growth-inducing factor.

Furthermore, the surging adoption of artificial intelligence (AI)-based GDB tools and services is propelling the market growth. Other factors, including the increasing reliance on cloud computing technology, emerging healthcare applications, and improvements in GDB technology, are also anticipated to create a positive market outlook.

What is included in market segmentation?

The report has segmented the market into the following categories:

Breakup by Component:

  • Software
  • Services

Breakup by Type of Database:

  • Relational (SQL)
  • Non-Relational (NoSQL)

Breakup by Analysis Type:

  • Path Analysis
  • Connectivity Analysis
  • Community Analysis
  • Centrality Analysis

Breakup by Deployment Model:

  • On-premises
  • Cloud-based

Breakup by Application:

  • Fraud Detection and Risk Management
  • Master Data Management
  • Customer Analytics
  • Identity and Access Management
  • Recommendation Engine
  • Privacy and Risk Compliance
  • Others

Breakup by Industry Vertical:

  • BFSI
  • Retail and E-Commerce
  • IT and Telecom
  • Healthcare and Life Science
  • Government and Public Sector
  • Media and Entertainment
  • Manufacturing
  • Transportation and Logistics
  • Others

Breakup by Region:

  • North America: (United States, Canada)
  • Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
  • Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
  • Latin America: (Brazil, Mexico, Others)
  • Middle East and Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

Amazon Web Services Inc. (Amazon.com Inc.), Datastax Inc., Franz Inc., International Business Machines Corporation, Marklogic Corporation, Microsoft Corporation, Neo4j Inc., Objectivity Inc., Oracle Corporation, Stardog Union, Tibco Software Inc. and Tigergraph Inc.

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