The Rise of Graph Database Market: A $2,143.0 million Industry Dominated by IBM Corporation (US), Oracle (US), Graphwise (Australia)
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386 - Tables 54 - Figures 368 - Pages
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Graph Database Market Dynamics:
DRIVERS
Rising demand for AI/generative AI solutions
Rapid growth in data volume and complexity
Growing demand for semantic search
RESTRAINTS
Data quality and integration challenges
Navigation of saturated data management tool landscape
Scalability issues
OPPORTUNITIES
Leveraging LLMs to reduce knowledge graph construction costs
Data unification and rapid proliferation of knowledge graphs
Increasing adoption in healthcare and life sciences to revolutionize data management and enhance patient outcomes
List of Key Companies in Graph Database Market:
IBM Corporation (US)
Oracle (US)
Neo4j (US)
DataStax (US)
Graphwise (Australia)
AWS (US)
RelationalAI (US)
Progress Software (US)
TigerGraph (US) … and more
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Based on model type, the property graph segment to hold the largest market size during the forecast period.
A property graph model is a structure of a graph database that represents data as nodes, edges, and properties. Nodes represent entities, edges represent relationships between entities, and properties are key-value pairs that provide additional metadata for both nodes and edges. This model allows for a very flexible and detailed representation of data that can be used for complex queries and analytics. Property Graphs allow for traversal and pattern-matching operations, typically using a query language specific to that model, like Cypher. It is used extensively in applications where detailed insights into relationships are needed, such as fraud detection, recommendation engines, and social network analysis, because it can efficiently manage connected and dynamic datasets.
The services segment will have the highest growth during the forecast period.
Graph database services are divided into managed services and professional services, targeting different stages of implementation and operation. Managed services include end-to-end management of graph database solutions, including hosting, monitoring, performance optimization, and scalability on cloud platforms. Professional services include consulting services, which help organizations design a tailored graph database strategy; deployment and integration services, which implement the database within existing systems to ensure seamless compatibility; and support and maintenance services, which provide ongoing assistance, updates, and troubleshooting to ensure optimal performance. These services help businesses to effectively utilize graph databases, thereby reducing complexity and accelerating adoptions.
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Asia Pacific is expected to hold the highest market growth rate during the forecast period.
The graph database market of the Asia-Pacific region is rapidly evolving amidst digital transformation and higher demand for sophisticated data management solutions. In China businesses are embracing graph database technology to drive innovation and operational efficiency in various industries such as in e-commerce, telecommunications, and energy to handle complex, interconnected datasets. In Australia, Australian National Graph is working with Neo4j's technology to construct a national-scale graph database, aiming to improve research collaboration and sustainability initiatives through collaborations between agencies and universities. The continuous expansion of cloud platforms in the region also enables enterprises across sectors to deploy graph databases with ease to support scalability and real-time data analytics.
Market Players
The major vendors covered in the Graph Database market are IBM Corporation (US), Oracle (US), Microsoft Corporation (US), AWS (US), Neo4j (US), RelationalAI (US), Progress Software (US), TigerGraph (US), Stardog (US), Datastax (US), Franz Inc (US), Openlink Software (US), Dgraph Labs (US), Graphwise (US), Altair (US), Bitnine (South Korea) ArangoDB (US), Fluree (US), Blazegraph (US), Memgraph UK), Objectivity (US), GraphBase (Australia), Graph Story (US), Oxford Semantic Technologies (UK), and FalkorDB (Israel). These players have adopted various growth strategies, such as partnerships, agreements and collaborations, new product launches, enhancements, and acquisitions to expand their footprint in the Graph Database market.
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