Key Market Players in the Graph Database Market and Its Opportunities for growth

Graph Database Market

The global Graph Database Market size is expected to grow from USD 1.0 billion in 2019 to USD 2.9 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 22.2% during the forecast period, as per a report by MarketsandMarkets.

The key factors driving the graph database market include growing demand for systems’ capability of processing low latency queries, and the adoption of Artificial Intelligence (AI)-based graph database tools and services.

Why need to identify complex patterns at maximum scale is a good opportunity?

Organizations are beginning to take a deeper look at capturing data about continuous flowing data. The ability of organizations to act as soon as events are generated, improves operational responsiveness and organizational effectiveness. Integration of businesses with graph database tools and services provides flexibility to apply rich context to the events as they occur. Graph database can be used to improve operational efficiencies, reduce infrastructure costs, and provide faster insights and actions. Organizations in every industry have data available from applications, social media, sensors, devices, and websites. Analyzing this data in real time, rather than storing and analyzing it later, can provide critical, actionable insights in many operational and functional areas. Essentially, a graph database is all about extracting business value from data in motion, the same way traditional analytics tools make use of data at rest. Furthermore, a graph database should be a general-purpose solution that can be integrated with or embedded into other applications. Tight integration is required if the results derived are used to make real-time decisions or to take actions regarding customer service, security or fraud prevention, and product recommendations.

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Key Market Players for Graph Database Market

Major vendors in the Graph Database Market include IBM (US), Microsoft (US), Oracle (US), AWS (US), Neo4j (US), OrientDB (UK), TIBCO Software (US), Franz (US), Teradata Corporation (US), OpenLink Software (US), MarkLogic (US), TigerGraph (US), DataStax (US), Ontotext (Bulgaria), Stardog (US), Cray (US), ArangoDB (Germany), Sparcity Technologies (Spain), Memgraph (UK), Bitnine (Korea), Objectivity (US), MongoDB (US), Cambridge Semantics (US), Fluree (US), and Blazegraph (US).

Major players in the market have adopted various growth strategies, such as new product launches, product developments, partnerships and collaborations, and acquisitions, to expand their presence and enhance their market shares. Moreover, acquisitions and partnerships are the major growth strategies adopted by the key players in this market. Major vendors in the graph database market, such as IBM, Oracle, Neo4j, and OrientDB, have their presence across the globe.

Oracle is one of the eminent players in the graph database market. It has a significant presence in more than 175 countries and serves its customers across the globe. Oracle has undertaken both organic and inorganic growth strategies to gain a competitive edge.

Neo4j, another prominent player in the market, has majorly adopted organic growth strategies to sustain its position in the market. The company released regular upgradations in the market to offer new capabilities and features in its software which helped it to remain as one of the leaders in this market.

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