Graph Database Market Overview, Growth, Trends, Analysis, Research Report (2021-2031)

The graph database market size is projected to reach US$ 11.43 billion by 2031 from US$ 2.64 billion in 2023. The market is expected to register a CAGR of 20.1% in 2023—2031. The market growth is fueled by factors such as the increasing use of graph database tools and services based on artificial intelligence (Al) and the rising demand for systems that can handle low latency queries are likely to remain key graph database market trends.

Graph Database Market Analysis

The graph database market is driven by the increasing use of graph database tools and services based on artificial intelligence (Al) and the rising demand for systems that can handle low-latency queries. Additionally, the market is anticipated to grow in the coming years owing to the increasing adoption of virtualization tor big data and growing demand to uncover complicated patterns at maximum scale. However, a lack of understanding regarding the potential benefits of graph databases and challenges faced during implementation hinder the market growth.

Graph Database Market Overview

With nodes, edges, and features to represent and store data, graph database uses graph structures for semantic queries. Graph databases are used in various industry verticals, such as BFSI, manufacturing, retail & e-commerce, IT & Telecom, and Logistics. Risk management, fraud detection, customer analytics, recommendation engines, supply chain management, operations management, asset management, knowledge management, and scientific data management are a few applications of graph databases.

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Graph Database Market: Strategic Insights

Graph Database Market

• Market Size 2023
  US$ 2.64 Billion
• Market Size 2031
  US$ 11.64 Billion

Market Dynamics

GROWTH DRIVERS

• Increasing Demand Database for Real-Time Data Insights to Favor Market

FUTURE TRENDS

• Technological advancements.

OPPORTUNITIES

• Enterprise data unifications and rapid proliferation of knowledge.

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Component

• Software
• Services

Deployment

• Cloud and on-Premises

Application

• Risk Management and Fraud Detection
• Customer Analytics
• Recommendation Engines
• Supply Chain Management
• Operations Management and Asset Management
• Knowledge Management
• Scientific Data Management

Type

• Property Graph
• Resource Description Framework

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Graph Database Market Drivers and Opportunities

Increasing Demand Database for Real-Time Data Insights to Favor Market

A real-time database is in distinguish to traditional relational database management systems (RDBMSs), in which a database administrator typically loads data via an ETL tool/process at regular intervals. A real-time database may sit alongside RDBMSs for modern use cases in larger enterprises. As the volume of data continues to grow and the velocity of data continues to accelerate, some technologies that once relied primarily on batch-oriented databases now rely more heavily on real-time database technologies (e.g., recommendation engines).  The implementation of a real-time database is increasing because it enables response to events faster than competitors, enables real-time alerting for market changes, supports preventive maintenance use cases, analyzes data in real-time as it is generated, and deploys real-time machine learning inference. Thus, increasing demand for real-time data base is driving the graph data base market growth.

Enterprise data unifications and rapid proliferation of knowledge.

The rapid proliferation of knowledge graphs driven by enterprise data holds significant opportunities for the graph data-based market. Organizations pursue to integrate and utilize diverse data sources, and knowledge offers a good way to provide an impactful way to represent complex relationships. Thus, enterprise data unification and the rapid proliferation of knowledge are offering great opportunities.

Graph Database Market Report Segmentation Analysis

Key segments that contributed to the derivation of the graph database market analysis are component, deployment type, application type, and industry vertical.

• Based on component, the graph database market is divided into software and services. The software segment is anticipated to grow in the forecast period.
• By deployment type, the market is segmented into on-premise cloud. The on-premise segment is anticipated to grow in the forecast period.
• By application, the market is segmented into risk management and fraud detection, customer analytics, recommendation engines, supply chain management, operations management and asset management, knowledge management, scientific data management, and others. The risk management and fraud detection segment is anticipated to grow in the forecast period.
• Based on industry vertical, the graph database market is divided into BFSI, healthcare, telecom and IT, retail and e-commerce, transportation and logistics, government and public sector, media and entertainment, travel and hospitality, manufacturing, and others. The BFSI segment is anticipated to grow in the forecast period.

Graph Database Market Share Analysis by Geography

The geographic scope of the graph database market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the graph database market. High technology adoption trends in various industries in the North American region have fuelled the growth of the graph database market. Factors such as increased adoption of digital technology and high technological spending by government agencies are expected to drive the North American graph database market growth. Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of graph database market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the graph database market.

Graph Database Market Market Report Scope

Graph Database Market News and Recent Developments

The graph database market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In April 2024, Neo4j, the world's leading graph database and analytics company, announced new native integrations with Google Cloud that dramatically speed up Generative AI application development and deployment across several crucial stages. The results solve a problem for enterprises that struggle with complexity and hallucinations when building and deploying successful GenAI applications requiring real-time, contextually rich data and accurate, explainable results.

(Source: Neo4j, Press Release, 2024)

• In June 2023, Aerospike, Inc. unveiled a new graph database with native support for the Gremlin query language at Aerospike Summit 2023. More and more organizations need to integrate and support large graph data sets for better decisions in heavy transactional (OLTP) operations.

(Source: Aerospike, Inc, Press Release, 2023)

Graph Database Market Report Coverage and Deliverables

The “Graph Database Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:

• Graph database market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities

Graph database market trends.

• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Graph database covering key market trends, Global and regional framework, major players, regulations, and recent market developments.
• Graph database industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
• Detailed company profiles