The global Graph Database Market size to grow from USD 1.9 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period. Various factors such as need to incorporate real-time big data mining with visualization of results, increasing adoption for AI-based graph database tools and services to drive market, and growing demand for solutions that can process low-latency queries are expected to drive the adoption of graph database solutions and services.
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COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Graph databases and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of graph database and AI has accelerated in the COVID-19 pandemic period. This has helped organizations engage customers through digital channels, manage fragile and complex supply chains, and support workers through disruption to their work and lives. New practices, such as work from home and social distancing, have led to the requirement of graph database solutions and services and the development of digital infrastructures for large-scale technology deployments. The COVID-19 pandemic in 2020 brought accelerating changes in consumer preferences and behaviors and putting pressure on brands to keep pace and provide a personalized customer experience. Enterprises have witnessed a reduction in their operational spending and are now focusing more on business continuity and sustainability.
Technology and service providers have been facing significant disruption to their businesses from COVID-19. Hence, the COVID-19 pandemic has disrupted the global financial markets and has created panic, uncertainty, and distraction in the operations of global corporations.
Scope of the Report
| Report Metric | Details |
| Market size available for years | 2015–2026 |
| Base year considered | 2020 |
| Forecast period | 2022–2026 |
| Forecast units | USD Million |
| Segments covered | Component, Deployment Mode, Organization Size, Type, Application, Vertical, and Region |
| Geographies covered | North America, Europe, APAC, MEA, and Latin America |
| Companies covered | Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US), Neo4j, Inc. (US), GraphBase (Australia), Cambridge Semantics (US), TigerGraph, Inc. (US), Objectivity Inc. (US), Bitnine Co, Ltd. (US), Franz Inc. (US), Redis Labs (US), Graph Story (US), Dgraph Labs (US), Eccenca (Germany), and Fluree (US). |
The services segment to hold higher CAGR during the forecast period
Based on components, the graph database market is segmented into solutions and services. The services segment has been further divided into professional and managed services. These services play a vital role in the functioning of graph database solutions, as well as ensure faster and smoother implementation that maximizes the value of the enterprise investments. The growing adoption of graph database solutions is expected to boost the adoption of professional and managed services. Professional service providers have deep knowledge related to the products and enable customers to focus on the core business, while MSPs help customers improve business operations and cut expenses.
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As per AWS, graph databases are purpose-built to store and navigate relationships. Relationships are first-class citizens in graph databases, and most of the value of graph databases is derived from these relationships. Graph databases use nodes to store data entities and edges to store relationships between entities. An edge always has a start node, end node, type, and direction, and an edge can describe parent-child relationships, actions, ownership, and the like. There is no limit to the number and kind of relationships a node can have.
Some of the key players operating in the graph database market includegh Oracle Corporation (US), IBM Corporation (US), Amazon Web Services, Inc. (US), DataStax (US), Ontotext (Bulgaria), Stardog Union (US), Hewlett Packard Enterprise (US), ArangoDB (US), Blazegraph (US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US), Openlink Software (US), MarkLogic Corporation (US), TIBCO Software, Inc. (US), Neo4j, Inc. (US), GraphBase (Australia), Cambridge Semantics (US), TigerGraph, Inc. (US), Objectivity Inc. (US), Bitnine Co, Ltd. (US), Franz Inc. (US), Redis Labs (US), Graph Story (US), Dgraph Labs (US), Eccenca (Germany), and Fluree (US). These graph database vendors have adopted various organic and inorganic strategies to sustain their positions and increase their market shares in the global graph database market.
Oracle was incorporated in 1977 and is headquartered in California, US. The company is a global leader in delivering a broad spectrum of products, solutions, and services designed to meet the requirements of corporate IT environments, such as platforms, applications, and infrastructure. Oracle’s customers include businesses of various sizes, government agencies, educational institutions, and resellers. The company, directly and indirectly, sells its products and services through a worldwide sales force and Oracle Partner Network, respectively. It specializes in developing, manufacturing, and marketing hardware systems, databases, middleware software, and application software. It provides SaaS offerings that are designed to incorporate emerging technologies, such as IoT, AI, ML, and blockchain. It operates through three business segments: cloud and license, hardware, and services, in more than 175 countries and caters to 4,30,000 customers across banking, telecommunications, engineering and construction, financial services, healthcare, insurance, public sector, retail, and utilities verticals. Graph databases that are part of Oracles convergent database offering eliminate the requirement to set up and move data to a separate database. Analysts and developers can detect fraud in banking, discover relationships and links to data, and increase traceability in smart manufacturing, all while benefiting from enterprise-grade security, ease of data intake, and robust support for data workloads. Oracle offers Oracle Spatial and Graph in the graph database market.
IBM is a multinational technology and consulting corporation founded in the year 1911 and is headquartered in New York, US. It offers infrastructure, hosting, and consulting services and operates through five major business segments: cloud and cognitive software, global business services, global technology services, systems, and global financing. IBM’s product portfolio comprises various segments, such as IoT, analytics, security, mobile, social, and Watson. It caters to various industry verticals that include aerospace and defense, education, healthcare, oil and gas, automotive, electronics, insurance, retail and consumer products, banking and finance, energy and utilities, life sciences, telecommunications, media and entertainment, chemicals, government, manufacturing, travel and transportation, construction, and metals and mining. The company has a robust presence in the Americas, Europe, the MEA, and Asia Pacific and clients in more than 175 countries. IBM is one of the top vendors in the graph database market, owing to the strong portfolio of solutions and services that the company offers in the market. On November 27, 2017, the company announced the retirement of the IBM Graph service. This service was being replaced by Compose for JanusGraph. The graph database technology at the core of IBM Graph, Titan, evolved to JanusGraph, governed by the Linux Foundation.
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