The global graph analytics market size to grow at a CAGR of 34.0% during the forecast period
The graph analytics market size is projected to grow from USD 584 million in 2019 to USD 2,522 million by 2024, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period. The graph analytics market is driven by the growing demand to analyze low-latency queries, advancements in graph analytics by integration of technologies, such as Artificial Intelligence (AI) and Internet of Things (IoT), and the ability of graph analytics to uncover relationships between data in real time to drive the growth of the market. However, lack of technical skills may hinder the growth of the graph analytics market.
Services segment to grow at a higher CAGR during the forecast period
The graph analytics market by component is segmented into solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The services considered in the report are consulting, system integration, and support and maintenance. The growth of this segment can be attributed to the increasing deployment of graph analytics software tools and platform, which leads to the increasing the demand for pre- and post-deployment services, as these solutions require training due to technical complexities.
Healthcare and life sciences vertical to grow at the highest CAGR during the forecast period
The graph analytics market by vertical has been segmented into Banking, Financial Services and Insurance (BFSI), telecom, retail and eCommerce, healthcare and life sciences, manufacturing, government and public sector, transportation and logistics, and others (media and entertainment, education, and real estate). The health care and life sciences segment is projected to grow at the highest CAGR during the forecast period, owing to the increasing demand for controlling fraud related to health data, achieving better patient experience, and offering personalized treatment in real time.
APAC to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. Increasing investments by the technology companies in major APAC countries, such as China, Japan, India, South Korea, Jong Kong, and Malaysia; growing digitalization; increasing adoption of advanced AI and big data technologies; and government regulations and initiatives are expected to drive the growth of the market in the APAC region.
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the graph analytics market.
- By Company: Tier I: 38%, Tier II: 41%, and Tier III: 21%
- By Designation: C-Level Executives: 65%, Directors: 20%, and Others: 15%
- By Region: North America: 45%, APAC: 30%, Europe: 15%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering graph analytics solutions and services. It profiles major vendors in the global graph analytics market. The major vendors are Microsoft (US), IBM (US), AWS (US), Oracle (US), Neo4j (US), TigerGraph (US), Cray (US), DataStax (US), Teradata (US), TIBCO Software (US), Lynx Analytics (Singapore), Linkurious (France), Graphistry (US), Objectivity (US), Dataiku (US), Tom Sawyer Software (US), Kineviz (US), Franz (US), Expero (US), and Cambridge Intelligence (England). It also includes an in-depth competitive analysis of the key players in the graph analytics market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
- The market study covers the graph analytics market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as component, deployment mode, organization size, application, vertical, and region.
- The study further includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall graph analytics market and the subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and to plan suitable go-to-market strategies.
- The report further helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.