Graph Analytics Market

Global Graph Analytics Market Size (2024 to 2029)

The global graph analytics market is predicted to reach USD 3.82 billion in 2024 and USD 16.50 billion by 2029, growing at a CAGR of 34% during the forecast period.

The increase in the adoption of Graph Analytics software in the health sector, the need for better response times and accuracy to discover new data correlations, and the rise in penetration of linked data to optimize marketing performance are the factors that promote growth in the global Graph Analytics market. Graph Analytics is a NoSQL database that uses graphical hypotheses to store, guide, and query relationships. The Graph Analytics collects nodes and borders by default. Each node represents a substance (an individual or company), and each edge represents a connection or relationship between two nodes. Each node in Graph Analytics has a unique identifier, an array of active borders, and a set of properties that communicate through a set of incoming borders and key values. 

Global Graph Analytics Market Drivers:

The global graph analysis market is estimated to be driven by the growing demand for low-latency query analysis and the stricter integration of advanced technologies such as the Internet of Things and artificial intelligence. In addition, graph analysis capabilities that represent relationships between real-time or near-real-time data will benefit the global market. Graph analysis has become especially popular among sellers and an essential data management technology in several companies. It offers many advantages over other complex and significant data problems compared to other analytical solutions for relational databases. It helps a relational database handle complex sets that cannot be efficiently traversed between relationships.

Global Graph Analytics Market Restraints:

On the other hand, the lack of technology can hinder the expansion of the global graph analytics market. Also, the high upfront costs are estimated to curb the development of the worldwide marketplace.

REPORT COVERAGE:

This research report on the global graph analytics market has been segmented and sub-segmented based on the component, deployment mode, organization size, application, vertical, and region.

Global Graph Analytics Market - By Component:

• Solutions

• Services    

The global graph analytics market is majorly divided into Solutions and Services based on the component. Of these two, the services segment is predicted to account for the leading share in the coming years. The rising demand for graph analytics software tools and platforms plays a vital role in the growth of this segment. System integration, support and maintenance, consulting, and others are some of the prominent services.

Global Graph Analytics Market - By Deployment Mode:

• On-Premise

• Cloud    

Based on the deployment mode, the global graph analytics market is bifurcated as On-Premise and Cloud. The cloud segment holds the dominant revenue share compared to the on-premise deployment. It is also expected to propel in the forecast period due to its advantages like cost-efficiency, easy maintenance, remote access, scalability, reliability, and fewer expenses.

Global Graph Analytics Market - By Organization Size:

• Large Enterprises    

• Small and Medium Enterprises    

Based on the organization size, the global graph analytics market has been segmented into Large Enterprises and Small and Medium Enterprises (SMEs). Among these two, the large enterprise segment is anticipated to account for the leading portion of the world market due to the high volumes of data generated and the need for real-time graph analytics software tools. However, the SME segment will likely expand at a noteworthy CAGR in the coming years, owing to the increasing investment in cloud deployment and maintenance services.

Global Graph Analytics Market - By Application:

• Route Optimization  

• Fraud Detection    

The global market is divided into Route Optimization and Fraud Detection based on applications. The fraud detection section has been witnessing huge demand from different end-user verticals like healthcare, information technology, banking, etc. However, the route optimization segment will likely grow more in the coming years due to rising demand from transportation and logistics, retail and eCommerce, and others.

Global Graph Analytics Market - By Vertical:

• Healthcare and Lifesciences 

• BFSI 

• Transportation and Logistics 

• Government and Public Sector  

• Telecom  

• Retail and E-Commerce    

Based on the vertical, the global market is divided into Healthcare and Lifesciences, Telecom, Government and Public Sector, Retail and E-Commerce, Transportation and Logistics, BFSI, and Others. Among these, the healthcare and life science segment is predicted to witness the highest CAGR in the foreseen years because of the increasing preference for customized treatments, the need for anomaly detection, and the preference for better customer experience.

Global Graph Analytics Market - By Region:

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• The Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus

North America grabbed the largest market share in the global graph analytics market due to the increasing use of big data technologies. Besides, real-time analysis of multiple companies and increasing investments in large amounts of data in all industries is expected to support market growth in this area. Nevertheless, the Asia-Pacific region is projected to expand at the highest growth rate in the world market during the forecast period. This growth in APAC can be attributed to the increasing adoption of advanced technologies like AI, Big Data, etc., rising investments in economies like China, Japan, India, etc., the shift towards digitalization, and favorable government initiatives.

KEY MARKET PARTICIPANTS:

The major companies operating in the global graph analytics market include IBM, Oracle Corporation, Neo Technology, Inc., DataStax, Inc., Franz Inc., Objectivity, Inc., ArangoDB GmbH, OrientDB LTD, Sparsity Technologies, and Sirma AI.

RECENT HAPPENINGS IN THE MARKET:

• In September 2019, Amazon Web Services announced Amazon QuickSight, rich in new features. These new features configure the types of Word Cloud graphics to send email alerts for anomalies, better represent category fields, and allow better asset organization.

• In May 2019, Microsoft Corporation released the Microsoft Graph update. This service combines commercial customer data with analytical data from a Microsoft Graph.