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Graph Technology Market Size

Report ID: GMI7089
Published Date: Oct 2023
Report Format: PDF

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Graph Technology Market Size

Graph Technology Market was valued at USD 4.1 billion in 2022 and is estimated to register a CAGR of over 19.5% between 2023 and 2032. Awareness and education about graph technology are spreading globally through various initiatives. These efforts aim to empower individuals and businesses with the knowledge and skills required to harness the potential of graph technology for various applications. For instance, in February 2023, Neo4j collaborated with Temasek Polytechnic to introduce Graphs4SG, an initiative aimed at nurturing graph technology expertise throughout Singapore. The program provides training and resources to develop skills in graph databases & analytics, supporting the growing demand for graph technology experts in the region.

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The graph technology industry is expanding due to continuous innovations. New applications in artificial intelligence, machine learning, and data analytics are driving product demand. Innovations in real-time data processing, knowledge graphs, and scalable graph databases are addressing evolving business needs. For instance, in May 2023, Foursquare introduced a Geospatial Knowledge Graph, a groundbreaking approach to organizing geospatial data with graph technologies and the H3 grid system. This innovation is revolutionizing how businesses leverage location data, enabling them to extract more value and insights from spatial information, ultimately enhancing decision-making and geospatial data analysis.

Graph Technology Market Report Attributes
Report Attribute	Details
Base Year:	2022
Graph Technology Market Size in 2022:	USD 4.1 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	19.5%
2032 Value Projection:	USD 23.8 Billion
Historical Data for:	2018 – 2022
No. of Pages:	240
Tables, Charts & Figures:	536
Segments covered:	240
Growth Drivers:	Increasing data complexities globally Growing demand for real-time analytics Growth of Artificial Intelligence (AI) in North America Expansion of the Internet of Things (IoT)
Pitfalls & Challenges:	Lack of awareness & understanding Performance & scalability challenges

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Performance and scalability challenges are significantly affecting the graph technology market growth. Graph database excel in handling complex & interconnected data. however, as datasets grow, the retrieval & query performance can degrade. Scaling to manage vast & dynamic datasets while maintaining real-time responsiveness is a formidable task. Efficient algorithms, distributed computing, and hardware enhancements are continually sought to address these challenges, ensuring that graph technology can effectively handle the increasing demands of modern data-driven applications.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

Market size for graph technology was worth USD 4.1 billion in 2022 and is expected to expand at over 19.5% CAGR from 2023 to 2032 attributed to the increasing awareness and education through various initiatives.

The on-premises segment held 55% share of the graph technology industry in 2022 and is set to witness robust growth through 2032 driven by the increasing specific industry requirements and security concerns among businesses.

North America market for graph technology held around 32% revenue share in 2022 and will experience robust growth through 2032 propelled by advanced technological landscape and the increasing demand for data-driven solutions.

The graph technology business consists of prominent companies, such as Amazon.com (AWS), AnzoGraph, ArangoDB, Inc., DataStax, Expero, IBM Corporation, JanusGraph, Microsoft Corporation, Neo4j, Oracle Corporation, and TigerGraph.