Global graph database market expected to reach USD 5,611 million in 2024, growing at a CAGR of slightly above 41.0% between 2018 and 2024. A graph database is a sort of NoSQL database that utilizes graph hypothesis to store, guide, and query relationships.

Sarasota, FL -- (SBWire) -- 07/03/2018 --Zion Market Research has published a new report titled "Graph Database Market by Solution (Software and Services), by Vertical (Financial Services, Manufacturing, Public Sector, Telecom, Retail, Travel and Hospitality, and Others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Industry Perspective, Comprehensive Analysis and Forecast, 2017 – 2024''. According to the report, global graph database market was valued at around USD 499 million in 2017 and is expected to reach approximately USD 5,611 million in 2024, growing at a CAGR of slightly above 41.0% between 2018 and 2024.

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A graph database is a sort of NoSQL database that utilizes graph hypothesis to store, guide, and query relationships. A graph database is basically gathering of nodes and edges. Every node represents a substance, (for example, a person or business) and each edge represents a connection or relationship between two nodes. Each node in a graph database is characterized by a unique identifier, an arrangement of active edges as well as incoming edges and a set of properties communicated as key/value sets. Each edge is characterized by a unique identifier, a beginning spot as well as ending-place node, and a set of properties.

Global consumer goods and manufacturing companies have to comply with local regulations along with meeting the market demands. This can range from safety standards to supply chain and labeling requirements. They need regular information on products and materials to comply with regulatory norms along with maintaining their operational efficiency. Capgemini and Informatics have collaborated to produce a master data management solution for consumer goods and manufacturing industries. The solution provides companies to view global distribution and manufacturing information consistently coupled with delivering tailored regional regulatory and consumer requirements. Rising adoption of the technology by multinationals will boost the revenue generation of global graph database market over the forecast period.

Master data management is even used in public sector to enhance decision -making through a single trusted data source about employees, providers, departments, programs, and citizens. Since the inception of the digital era, government bodies are storing and collecting data in systems made for specific programs or tasks. Sharing data across these systems provides business process improvement opportunities with the government.

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Hybrid cloud adoption has increased three times in 2016 as compared to last year from 19% to 57% in organizations. Cloud services consolidation coupled with rapid hybrid cloud sector growth is giving a positive outlook to the cloud platform in enterprises. Most of the organizations are setting up goals to produce "Cloud First" app that are replacing legacy apps that which are no longer suitable for their existing and future business models. Increasing rate of cloud platform adoption will boost the global graph database market over the forecast timeframe.

The global graph database market is segmented on the basis of the solution as software and services. Smart cities are offering advanced services exploiting and aggregating data from various sources. Cities collect statistical data such as service description, road graphs, and real-time data that includes events, city sensors, bus positions, traffic sensors, weather forecast, and emergency flows, etc. Various verticals having applications in graph database market are financial services, manufacturing, public sector, telecom, retail, travel and hospitality, and others. The global manufacturing industry is growing significantly and currently accounts for nearly 16% of global GDP with 14% of employment. Manufacturing sector's size is dependent in on an economy as per its stage of development. With the industrialization of economy manufacturing output and employment both have risen rapidly.

North America healthcare analytics will bring dramatic changes across its countries. Many actions, programs, and federal policies are initiated by the government to register progress in healthcare services. For instance, the federal government in the U.S. is encouraging the use of its healthcare data from various initiatives and policies.

Prominent manufacturers in the market include Oracle Corporation, IBM, Neo Technology, Inc., Franz Inc., DataStax, Inc., Objectivity, Inc., Sparsity Technologies, ArangoDB GmbH, OrientDB Ltd., and Sirma AI.

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The report segments global graph database market as follows:

Graph Database Market: Solution Segment Analysis

Software
Services

Graph Database Market: Vertical Segment Analysis

Financial services
Manufacturing
Public sector
Telecom
Retail
Travel and hospitality
Others