Global Graph Database Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Graph Database Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

In computing, a graph database is a database that uses graph structures for semantic queries with nodes, edges and properties to represent and store data. A key concept of the system is the graph (or edge or relationship), which directly relates data items in the store. The relationships allow data in the store to be linked together directly, and in many cases retrieved with one operation.

Market Overview:

The latest research study on the global Graph Database market finds that the global Graph Database market reached a value of USD 1786.16 million in 2022. It’s expected that the market will achieve USD 6089.23 million by 2028, exhibiting a CAGR of 22.68% during the forecast period.

Drivers of Graph Database

North America, Europe, China, India, South America, Middle East and Africa
Key factors which gives growth to the graph database market are emerging need to have precision and better response time to discover new correlations and multi-dimensional data management with real-time query support.
Expanding business applications with connected data coupled with rising technological challenges of connected data is the prominent factor drives the growth of global graph database market. Additionally, expanding enterprise data volumes coupled with growing importance to generate insight from existing data, rising focus on data monetization solutions and increasing demand for master data management solutions, are the factors further accelerates the growth of global graph database market. Also, growing dependency on connected data for fraud detection across various industries including e-commerce, banking, financial services and insurance, contributes the growth of growth of global graph database market. Furthermore, rising demand for connected data to optimize marketing performance, continuous adoption to cloud computing environment across various industries and expanding (IoT) applications, expected to fuel the growth of global graph database market.
In developed market, they have more international companies, good channels, highly market maturity, fierce competition, a highly competent management team, technology and finance advantages, keep on innovation, all of which make a growing market demand for Graph Database.

Opportunities

Healthcare and life sciences industry
Graph database tools play an important role in the healthcare and life sciences industry vertical, starting from recording patients' information from different sources to discharging patients. Healthcare-focused start-ups, such as Zephyr Health, leverage the graph database technology for fulfilling the unmet needs of their customers. Healthcare organizations and institutions use graph database tools and services to improve their operational efficiency, enhance the safety, improvise the quality of patient care, and reduce costs. Industry regulations, such as HIPAA and HITECH, provide guidelines for healthcare data privacy and the safe transmission of electronic health data.

Region Overview:

From 2022-2027, North America is estimated to witness robust growth prospects.

Company Overview:

Neo4j is one of the major players operating in the Graph Database market, holding a share of 14.66% in 2022.

Neo4j

Neo Technology, Inc. develops and provides databases. It provides a network-oriented database, which is an embedded, disk-based, and transactional Java persistence engine that stores data structured in networks consisting of nodes, relationships, and properties rather than in rigid tables, rows, and columns. Its clients include Cisco, HP, Accenture, Deutsche Telekom, and Telenor. The company was founded in 2000 and is headquartered in San Mateo, California.

Oracle

Oracle Corporation develops, manufactures, markets, sells, hosts, and supports application, platform, and infrastructure solutions for information technology (IT) environments worldwide. The company provides services in three primary layers of the cloud: Software as a Service, Platform as a Service, and Infrastructure as a Service. It offers human capital and talent management, enterprise resource planning, customer experience and relationship management, procurement, supply chain management, project portfolio management, business analytics and enterprise performance management, and industry-specific application software, as well as financial management and governance, and risk and compliance applications.

Segmentation Overview:

By type, Property Graph segment accounted for the largest share of market in 2021.

RDF

The scope of RDF triple is on a standardized model for data interchange on the web. RDF databases were designed for web pages and World Wide Web metadata interchange to support the semantic Web. they don’t store data as a graph model, but they do offer optimized graph query capabilities. An RDF triple store uses SPARQl as the query language.

Property Graph

Property graph centers on the graph data and query capabilities. property graph databases are more optimized for graph traversal, especially when the network becomes more complex. typical property graph use cases include social networking, recommendation engines, real-time recommendations, and fraud detection.

Application Overview:

By application, the Customer Analytics segment occupied the biggest share from 2017 to 2022.

Risk Management & Fraud Detection

Risk management is the identification, evaluation, and prioritization of risks followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities. Fraud detection is a topic applicable to many industries including banking and financial sectors, insurance, government agencies and law enforcement, and more.

Customer Analytics

Customer analytics is a process by which data from customer behavior is used to help make key business decisions via market segmentation and predictive analytics. This information is used by businesses for direct marketing, site selection, and customer relationship management.

Recommendation Engines

A recommender system or a recommendation system (sometimes replacing system with a synonym such as platform or engine) is a subclass of information filtering system that seeks to predict the rating or preference a user would give to an item.

Key Companies in the global Graph Database market covered in Chapter 3:

Cray
Marklogic
DataStax
IBM
SAP
Neo4j
Tibco Software
Oracle
AWS
Microsoft

In Chapter 4 and Chapter 14.2, on the basis of types, the Graph Database market from 2018 to 2029 is primarily split into:

RDF
Property Graph

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Graph Database market from 2018 to 2029 covers:

Risk Management & Fraud Detection
Customer Analytics
Recommendation Engines
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)