Graph analytics market, valued at USD 1.14 billion in 2022, is poised for rapid growth with a projected compound annual growth rate (CAGR) of 33.5%

VANCOUVER, BRITISH COLUMBIA, CANADA, June 12, 2024 /EINPresswire.com/ -- The global graph analytics market, valued at USD 1.14 billion in 2022, is poised for rapid growth with a projected compound annual growth rate (CAGR) of 33.5% during the forecast period. Key drivers of this market expansion include advancements in AI, IoT, and blockchain technologies, as well as a growing need for businesses to make data-driven decisions, optimize operations, and uncover hidden patterns within their data.

graph analytics market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market's growth. The rise in the demand to identify complex patterns from the data in motion is escalating the growth of graph analytics market. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Emergen Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.

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What is Graph Analytics?

Graph analytics is a specialized subset of big data analytics and AI. It involves analyzing relationships and patterns within data, represented in graphical formats of nodes, links, and edges. This approach is beneficial for various applications, from helping journalists sift through large volumes of documents to enhancing logistics by identifying optimal routes and weather conditions.

Graph Analytics Top Companies and Competitive Landscape

The global graph analytics market is fragmented with many large and medium-sized players accounting for the majority of market revenue. Major players are deploying various strategies, entering mergers & acquisitions, strategic agreements & contracts, developing, testing, and introducing more effective graph analytics. Some major players included in the global graph analytics market report are:

Microsoft Corporation

Dataiku

Expero

Cambridge Intelligence

Lunx Analytics

Cloud Software Group

DataStax

TigerGrapg

Neo4j, Inc.

Oracle Corporation

Amazon Web Services

IBM corporation

Tom Sawyer Software

Teradata

Linkurious SAS

Carnegie Mellon Database Group

SAP SE

ArangoDB

Objectivity Ltd

Kinevix

Graph Analytics Latest Industry News

In June 2023, OTORIO, the leading provider of Operational Technology (OT) cyber and digital risk management solutions, announced a significant advancement in OT security with the availability of its Attack Graph Analysis technology, integrated into the company's powerful Cyber Digital Twin (CDT) model.

On November 2022, TigerGraph, the leading advanced analytics and Machine Learning (ML) platform for connected data, released the latest version of Tiger Graph Cloud, the industry's first and only native parallel graph database-as-a-service, featuring two powerful new tools for visual graph analytics and machine learning. Tiger Graph Insights, a user-friendly visual graph analytics tool for searching and exploring meaningful business insights, and ML Workbench, a powerful Python-based framework for accelerating the development of graph-enhanced machine learning applications, are now available to Tiger Graph Cloud customers.

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Market Drivers:

Advanced Analytical Solutions: The rising production of digital data, fueled by the widespread use of smartphones and computers, has increased the demand for advanced analytics and data mining tools. These tools help process vast amounts of data, identify trends, and improve decision-making across numerous business sectors.

Increased Adoption: There is a growing trend towards the adoption of big data tools and analytics solutions in modern business infrastructures, further propelling market growth.

Market Challenges:

High Costs and Data Security: The high cost of implementing graph analytics solutions, coupled with data privacy and security concerns, pose significant challenges. Ensuring compliance with legal and regulatory standards, maintaining data accuracy, and managing the complexity of large data sets are essential yet challenging tasks.

Technical Skills and Standardization: A lack of technical skills and standardized programming approaches also hinders market growth, making it difficult for companies to fully leverage graph analytics technologies.

Deployment Modes:

Cloud-Based Solutions: The cloud segment dominated the market in 2022, offering easy access to powerful analytics tools without the need for significant hardware or software investments. Cloud-based platforms facilitate real-time collaboration, enabling faster decision-making and quick responses to market changes.

On-Premises Solutions: On-premises solutions are expected to grow moderately, driven by the adoption of edge computing. Companies like Telefonica Tech are collaborating with tech giants such as Microsoft to combine 5G and edge computing, accelerating digital transformation.

Enterprise Size:

Large Enterprises: This segment is anticipated to hold a significant share of the market. Large companies have the infrastructure and skilled personnel to manage complex data governance requirements securely and efficiently. Graph analytics tools help these organizations enhance productivity, transparency, and accountability.

Small and Medium-Sized Enterprises (SMEs): SMEs are expected to experience steady growth in graph analytics adoption, particularly in developing regions. Investments in cloud deployment and other maintenance services are making advanced analytics tools more accessible to smaller businesses.

Industry Applications:

Banking, Financial Services, and Insurance (BFSI): The BFSI sector is expected to lead the market due to the increasing data volumes and the rise of online banking. Graph analytics helps financial institutions improve compliance, customer acquisition, and retention.

Retail and E-Commerce: This sector is projected to grow rapidly as retailers use advanced analytics to understand customer preferences and market trends, enhancing customer experiences and boosting sales.

Healthcare and Life Sciences: The shift towards analytics in healthcare aims to better understand patient needs and improve services for both patients and healthcare workers.

Graph Analytics Market Segments Covered in Report

For the purpose of this report, Emergen Research has segmented the global graph analytics market on the basis of component, deployment mode, solutions, enterprise size, and industry:

Deployment mode Outlook (Revenue, USD Billion; 2019-2032)

Cloud

On-premises

Component Outlook (Revenue, USD Billion; 2019-2032)

Solutions

Services

Enterprise size Outlook (Revenue, USD Billion; 2019-2032)

Small and Medium Enterprises (SMEs)

Large Enterprises

Application Outlook (Revenue, USD Billion; 2019-2032)

Customer Analytics

Risk and Compliance Management

Recommendation Engines

Route Optimization

Fraud detection

Industry Outlook (Revenue, USD Billion; 2019-2032)

Banking, Financial Services, and Insurance (BFSI)

Information Technology and Telecom

Transportation & Logistics

Healthcare and Life sciences

Manufacturing

Retail and Ecommerce

Others

Global Graph Analytics Market Region Analysis/Insights

The graph analytics market is analyzed, and market size, volume information is provided by components, deployment mode, organization size, application and vertical as referenced above.  

The countries covered in the graph analytics market report are the U.S., Canada, and Mexico in North America, Brazil, Argentina, and the rest of South America as part of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC)  in the Asia-Pacific (APAC), Saudi Arabia, U.A.E., South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of the Middle East and Africa (MEA).

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The graph analytics market is on a robust growth trajectory, driven by technological advancements and the increasing need for sophisticated data analysis tools across various industries. Despite challenges related to cost, data security, and technical skills, the market presents significant opportunities for businesses to enhance decision-making, optimize operations, and uncover valuable insights from their data.

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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