Report ID: SQMIG45C2084
Report ID:
SQMIG45C2084 |
Region:
Global |
Published Date: December, 2024
Pages:
189
|
Tables:
147 |
Figures:
68
Graph Database Market size was valued at USD 3.82 Billion in 2023 and is poised to grow from USD 4.66 Billion in 2024 to USD 18.61 Billion by 2032, growing at a CAGR of 21.9% during the forecast period (2025-2032).
Growing demand for connected data analysis and the rising use of data generated from interconnected systems are forecasted to drive the demand for graph databases in the future. Rising use of advanced technologies such as machine learning and artificial intelligence is also estimated to offer new business scope for graph database companies in the long run. Rising use of big data applications and IoT devices is also forecasted to bolster graph database market development over the coming years. Increasing use of business intelligence by multiple organizations and rising use of data-driven decision-making around the world are also expected to uplift the adoption of graph database in the future. High emphasis on cybersecurity is also expected to boost the demand for graph database going forward. However, lack of standardization, steep learning curve for query languages, data security concerns, and challenges in integration with legacy systems are slated to be key constraints for graph database demand outlook across the study period.
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Report ID: SQMIG45C2084