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The Graph Analytics Market will touch USD 2,885.2 million at a 31.6?GR in the forecast period 2020- 2027, as per the new Market Research Future (MRFR) analysis. Graph analytics solutions, simply put, are analytic tools which are used for determining the direction and strength of relationships between objects in a graph.
Various factors are fuelling the global graph analytics market growth. As per the recent MRFR market estimates, such factors include the growing need to analyze data in real time, integration of AI, IoT, and blockchain technologies, the growing need to analyze low-latency queries, growing need to identify complex patterns, rapid use of virtualization for big data analytics, and the growing need for analysis of low-latency queries. Besides, the rapid use of big data analytics virtualisation is one of the graph analytics market trends.
On the contrary, lack of technical skills regarding graph analytics may limit the global graph analytics industry growth over the forecast period.
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Graph Analytics Market Segments
The MRFR report throws light on an inclusive segmental analysis of the global graph analytics market based on vertical, application, organization size, deployment type, and component.
By component, the global graph analytics market is segmented into service and solution. The service segment is again bifurcated into support and maintenance, system integration, and consulting.
By deployment type, the graph analytics market is segmented into on-premise and cloud. Of these, the cloud segment will lead the market over the forecast period.
By organization size, the global graph analytics market is segmented into large enterprise segments and small and medium-sized enterprise (SME).
By application, the global graph analytics market is segmented into fraud detection, route optimization, recommendation engines, risk and compliance management, customer analytics, and others. Of these, the route optimization segment will dominate the market over the forecast period.
By vertical, the global graph analytics market is segmented into retail and e-commerce, telecom, government, manufacturing, healthcare and life sciences, transportation and logistics, BFSI, and others.
By region, the global graph analytics market covers the recent trends and growth opportunity across Europe, the Asia Pacific (APAC), North America, South America, and the Middle East and Africa (MEA). Of these, North America will dominate the market over the forecast period. Technological advances, high adoption of digital transformation in the US, use of advanced technologies like analytics and big data, high adoption of cloud-based technologies, increasing use of big data technology, increasing investments by companies in real-time analytics, and growing amount of data across verticals are adding to the global graph analytics market growth in the region.
The global graph analytics market in Europe is predicted to hold the second-largest share over the forecast period. Growing need for real-time analysis of data among enterprises across verticals is adding to the global graph analytics market growth in the region.
The global graph analytics market in the APAC region is predicted to have healthy growth over the forecast period. Growing demand for analyzing low-latency queries, organizations seizing opportunities to ensure their compliances and applying technologies to prevent criminal flows of capital which threaten customers and their communities, increasing adoption of technologies like IoT, big data, and AI, rising investments by companies in real-time analytics, demand for higher amount of data storage and security, and favorable government regulations and policies are adding to the global graph analytics market growth in the region.
The notable players profiled in the global graph analytics market report include Oracle Corporation (US), DataStax (US), Cray, Inc. (US), TigerGraph (US), AWS (US), IBM Corporation (US), Microsoft Corporation (US), Lynx Analytics (Singapore), TIBCO Software (US), Teradata (US), Neo4j (US), Dataiku (US), Objectivity (UK), Graphistry (US), and Linkurious (France), among others.
The graph analytics market is highly fragmented and competitive in nature with the presence of several well-established domestic and international players. These industry players have used several strategies to stay ahead such as mergers and acquisitions, partnerships, collaborations, geographic expansions, and others. Further, they are also investing in research and development activities.
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