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Table of Contents
- Research Methodology
- Executive Summary
- Premium Insights
- Market Overview
- Graph Database Market, By Type
- Market By Application
- Graph Database Market, By Component
- Graph Database Market, By Deployment Type
- Market By Organization Size
- Graph Database Market, By Industry Vertical
- Graph Database Market, By Region
- Competitive Landscape
- Company Profiles
The Graph Database Market size is expected to grow from US$ 821.8 Million in 2018 to US$ 2,409.1 Million by 2023, at a Compound Annual Growth Rate (CAGR) of 24.0% during the forecast period. Some of the key drivers for the graph database market include enterprises’ increasing demand to have better response time and accuracy to discover new data corelations, and the advent of AI-enhanced graph database software and services.
Risk Management and Fraud Detection is estimated to hold the largest market size in 2018 in the graph database market.
Fraud detection applications, through their real-time, near-real-time, and batch analysis of users’ activities, assist companies in safeguarding their customers and enterprise information, assets, accounts, and transactions. To address frauds and the related risks, enterprises use Transaction Monitoring Systems (TMS) that are based on relational databases. However, due to TMS’ linear and discrete analysis approach, they usually help in spotting trends and incidents post their occurrence on a limited basis. This is where graph database tools and services really add value and enhance the entire risk and fraud management process.
Asia Pacific (APAC) is expected to grow at the highest rate during the forecast period in the graph database market by region
APAC is expected to grow at the highest CAGR and estimated to have an immense potential for the growth of the graph database market in the coming years. Many Asian countries, including Singapore and China, are leveraging information-intensive technologies to gain a competitive edge over other players. They are digitizing rapidly and promoting the emerging technologies, such as mobility, IoT, cloud, BI, and analytics. This trend provides significant opportunities to grow for vendors of graph database tools and services in this region. The rapid digitization has resulted in the production of large volumes of unstructured data.