What Is The Current and Historic Market Size Analysis Of The Graph Technology Market?
The graph technology market has seen considerable growth due to a variety of factors.
• The size of the graph technology market has seen a rapid increase in the past few years. It's projected to expand from $5.26 billion in 2024 to $6.42 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 21.9%.
The growth during the historic period has been spurred by factors such as the surge in social network analysis, advancements in the semantic web and linked data, improvements in search engines and recommendation systems, enhancement in fraud detection and security measures, and progress in biological and chemical research.
What Is The Forecast For The Graph Technology Market Size?
The graph technology market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for graph technology is predicted to undergo a tremendous increase over the next couple of years. The market is projected to escalate to $14.21 billion in 2029 with a compound annual growth rate (CAGR) of 22.0%.
This growth in the projection period is due to factors such as the integration of AI and machine learning, IoT and sensor data analysis, application of knowledge graphs in enterprises, graph-centric supply chain improvement, and application of graphs in healthcare and life sciences industries. Significant trends for the forecast period encompass the merger of AI and graph technology, the surge of knowledge graphs, extended use of graphs in IoT and supply chain management, increased reliance on graphs in the healthcare and life sciences sectors, and an emphasis on graph-oriented cybersecurity solutions.
What Are The Essential Drivers Behind The Growth Of The Graph Technology Market?
The surge in the Internet of Things (IoT) is projected to significantly spur the expansion of the graph technology market. IoT is essentially the system of interconnected devices, fitted with software, sensors, and other technologies that allow data collection and exchange via the internet. The rise in IoT is a result of technological advancements, business opportunities, and the growing preference among consumers for smart devices. Graph technology has found considerable use in IoT due to its proficiency in effectively modelling and analyzing intricate relationships among various data points. This ensures superior decision-making, enhances data visibility, and boosts the general performance and efficiency of IoT apps. For instance, as reported by ITSG Global, an innovative software development company based in Poland, in 2022, global IoT expenditure exceeded $1 trillion. By 2023, the count of IoT devices is expected to top 15 billion, a 55% increase from 2020. Hence, IoT's prolific surge is proving to be a significant growth driver for the graph technology market.
How Is The Global Graph Technology Market Divided Into Key Segments?
The graph technology market covered in this report is segmented –
1) By Component: Software, Services
2) By Graph Type: Property Graph, Resource Description Framework (RDF), Hypergraph
3) By Database Type: Relational (SQL), Non-Relational (No SQL)
4) By Application: Fraud Detection, Data Management And Analysis, Customer Analysis, Identity And Access Management, Compliance And Risk, Other Applications
4) By Industry: Banking Financial Services And Insurance (BFSI), Retail And E-Commerce, Information Technology (IT) And Telecommunications, Healthcare And Life Science, Government And Public Sector, Media And Entertainment, Supply Chain And Logistics, Other Industries
Subsegments:
1) By Software: Graph Database Software, Graph Analytics Software, Graph Visualization Software, Graph Query Language Software, Other Graph-Related Software
2) By Services: Professional Services, Managed Services
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How Are Emerging Trends Reshaping The Dynamics Of The Graph Technology Market?
Leading corporations in the graph technology market are concentrating on creating innovative and combined high-end technologies like visualization tools for tracking objects in space to gain a competitive edge. This type of technology is related to specialized software programs designed to identify, track, and present visually the precise location and activities of objects such as satellites and space debris in Earth's orbit. For example, in March 2022, Privateer, an American company specializing in space sustainability and exploration, rolled out Wayfinder, an in-house knowledge graph technology developed to map and monitor space debris and satellites in earth's orbit. This technology offers an open-access, nearly real-time digital catalog of satellites and space debris circling the Earth, which is critical for activities like deorbiting, refueling, and pulling, along with other on-orbit services. It also includes a real-time digital catalog, a system for mapping data, on-orbit services, and crucial data infrastructure, all contributing to operations in space safer and more efficient.
Who Are the Key Players In The Graph Technology Market?
Major companies operating in the graph technology market are:
• Microsoft Corporation
• Amazon Web Services Inc.
• International Business Machines Corporation
• Oracle Corporation
• Teradata Corporation
• Progress Software Corporation
• DataStax Inc.
• Neo4j Inc.
• TigerGraph Inc.
• Bitnine Global Inc.
• Tom Sawyer Software
• Cambridge Semantics Inc.
• Sparsity Technologies
• Stardog Union
• ArangoDB Inc.
• OrientDB Ltd.
• Franz Inc.
• Ontotext Corp.
• Cray Inc.
• Grakn Labs Ltd.
• GraphAware Ltd.
• Blazegraph Inc.
• Dataiku
• Linkurious SAS
• GraphGrid Inc.
What Are The Regional Insights Into The Graph Technology Market?
North America was the largest region in the graph technology market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the graph technology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
