Graph Analytics Market Overview
The global graph analytics market size is expected to reach USD 2,885.2 million by 2027, exhibiting a CAGR of 31.6% over the forecast period. Graph analytics is a technique used for identifying connections and patterns between different data points. It is used to analyze the complex relationships between different data sets, such as customer interactions, transactions, and financial data. It is used in various industries, such as banking, healthcare, retail, and telecommunications, for predictive analysis and decision-making.
Key Companies
The leading players in the graph analytics market are Microsoft Corporation, IBM Corporation, Oracle Corporation, Neo4j, Inc., TIBCO Software Inc., Amazon Web Services, Inc., SAP SE, Teradata Corporation, SAS Institute Inc., and Tableau Software, Inc. These companies have adopted various strategies, such as product launches, partnerships, and collaborations, to strengthen their market presence.
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Market Segmentation
The graph analytics market is segmented based on type, deployment mode, organization size, vertical, and region. By type, the market is divided into graph databases, graph visualization, and graph analysis. By deployment mode, the market is divided into on-premise and cloud-based. By organization size, the market is divided into SMEs and large enterprises. By vertical, the market is divided into BFSI, government and defense, healthcare and life sciences, retail and e-commerce, IT and telecom, manufacturing, energy and utilities, and others.
Key Strategies
The leading players in the graph analytics market are focusing on product launches and collaborations to enhance their market presence. For example, in January 2021, Neo4j, Inc. launched Neo4j Aura, a cloud-native graph database. This product helps customers to reduce their costs and increase their scalability. Similarly, in October 2020, Microsoft Corporation acquired Metaswitch Networks, a software provider for communication services. This acquisition will help Microsoft to strengthen its position in the graph analytics market.
Regional Insights
North America is expected to dominate the graph analytics market during the forecast period. This is due to the presence of major players in the market, such as Microsoft Corporation, IBM Corporation, Oracle Corporation, and Neo4j, Inc., in this region. Moreover, the increasing adoption of graph analytics in the healthcare and banking industries is also driving the growth of the market in this region.
Industry Latest News
In April 2021, Neo4j, Inc. launched Neo4j for Good, a program that helps to provide graph technology to non-profit organizations. This program will help non-profit organizations to access graph analytics technology for free. Similarly, in March 2021, Microsoft Corporation launched Azure Purview, a data catalog solution that helps customers to discover, classify, and govern their data using graph analytics. This will help customers to improve data governance and security.
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