The Asia Pacific graph database market is projected to be the fastest-growing market region during the forecasted period, recording a CAGR of 24.81%. The increasing investments in graph database technologies by various countries of the region, and the increasing initiatives for smart grid systems in different countries of the region, are the most important factors pushing market growth in the region.
The graph database market in the Asia Pacific region is studied under the segregation that includes the countries of Australia, South Korea, Japan, India, China, and the Rest of Asia Pacific. The countries like India boasts of the rich presence of manufacturing giants. The businesses in India are adopting cloud Software-as-a-Service (Saas) solutions. The country is set to witness significant advancements in the manufacturing sector. It is estimated that the manufacturing sectors are likely to adopt digital technologies like big data analytics. This will result in increased demand for graph databases, thus propelling its market growth in the Indian region. The big data analytics industry is also set to expand economically in the coming years. This will provide a lucrative environment for the growth of the graph database market. Further, government initiatives are also expected to augment the growth of big data analytics, thereby resulting in increased demand for the graph database in the Indian region.
Mongodb Inc., Stardog Union Inc., Franz Inc., Objectivity Inc., Microsoft Inc., Datastax, Inc., makes it to the list of prominent companies present in the market.
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