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Graph Database Market Size

Report ID: GMI6731
Published Date: Sep 2023
Report Format: PDF

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Graph Database Market Size

Graph Database Market size was valued at USD 2.6 billion in 2022 and is anticipated to register a CAGR of over 18% between 2023 and 2032. The increased demand for real-time big data mining and visualization is significantly driving market growth. These enable businesses to discover hidden patterns, detect anomalies, and make informed decisions in real time. This capability fuels the adoption of graph databases across industries, driving market growth as businesses prioritize data-driven decision-making and leverage graph databases for dynamic, real-time insights.

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As organizations migrate their data and applications to the cloud, the demand for cloud-based graph databases rises, expanding the market and enabling businesses of all sizes to harness the power of graph technology for various use cases. For instance, in June 2023, Neo4j revealed new integrations with Google Cloud's Vertex AI, incorporating advanced generative AI features into its graph database and analytics solutions.

Graph Database Market Report Attributes
Report Attribute	Details
Base Year:	2022
Graph Database Market Size in 2022:	USD 2.6 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	18%
2032 Value Projection:	USD 13.1 Billion
Historical Data for:	2018 - 2022
No. of Pages:	300
Tables, Charts & Figures:	390
Segments covered:	Component, Type, Deployment Model, Application, and Industry Vertical
Growth Drivers:	Increased demand for real-time big data mining and visualization Rising use of AI-driven graph database tools Increasing need for low-latency query processing solutions Increasing adoption of cloud computing
Pitfalls & Challenges:	Data integration complexity

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Data integration complexity in graph databases poses the challenges of harmonizing diverse data sources into a unified graph database. Different data formats, schemas, and sources can lead to issues such as data silos & data transformation bottlenecks. To address these challenges, organizations should invest in robust Extract, Transform, Load (ETL) tools and middleware that streamline data integration processes. Additionally, adopting standardized data formats and employing data integration experts can simplify the integration of disparate data sources into a graph database.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of graph database was worth USD 2.6 billion in 2022 and will register over 18% CAGR from 2023 to 2032, due to the increasing demand for real-time big data mining and visualization worldwide.

The IT & telecom industry vertical segment held 25% share of the graph database market in 022 and is expected to witness commendable growth from 2023 to 2032, due to the rising need for better network management, optimized infrastructure, and improved customer experiences.

North America held over 33% share of the graph database market in 2022 and will incur a significant CAGR from 2023-2032 owing to the presence of thriving technology ecosystem and the strong emphasis on data-driven decision-making in the region.

Microsoft Corporation, Amazon Web Services, TIBCO Software, HPE, IBM Corporation, and Oracle Corporation are some of the major graph database companies worldwide.