ID: MRFR/ICT/8079-HCR | February 2021 | Region: Global | 100 pages
Global Graph Analytics Market is expected to register a CAGR of 31.6% during the forecast period and reach a value of USD 2,885.2 Million in 2025.
Graph analytics solutions are analytic tools that are used to determine the strength and direction of relationships between objects in a graph. Graph analytics is network analysis and is increasingly being adopted for analytics workloads. Graph analysis is increasingly being used for social network influencer analysis. Marketing managers are using this software to identify their potential targets for marketing campaigns by trying to trigger chain reactions among social network communities to buy products and services. It is also used for detecting financial crimes such as money laundering. It is also used for detecting instances of fraud such as fraudulent transactions and applications in banking, benefits fraud in government, applications and claims fraud in insurance, and other fraudulent activities in telecommunications. These tools are used to prevent crime and for performing counterterrorism.
The growing need to analyze data in real time and the integration of artificial intelligence, the Internet of Things (IoT), and blockchain technologies are major factors that are responsible for driving market growth. The growing demand to analyze low-latency queries is an additional factor that is driving the global graph analytics market. Furthermore, the lack of technical skills regarding graph analytics is expected to be a challenge for the growth of this market. The growing need to identify complex patterns and the rapid use of virtualization for big data analytics are the opportunities for the graph analytics market.
The Global Graph Analytics Market has been segmented based on Component, Deployment Type, Organization Size, Application, Vertical, and Region/Country.
By Component, the global graph analytics market has been divided into solution and service. The service segment has further been divided into consulting, system integration, and support and maintenance.
By Deployment Type, the global graph analytics market has been divided into cloud and on-premise.
Based on Organization Size, the global graph analytics market has been divided into small- and medium-sized enterprise (SME) and large enterprise segments.
Based on Application, the global graph analytics market has been divided into customer analytics, risk and compliance management, recommendation engines, route optimization, fraud detection, and others.
Based on Vertical, the global graph analytics market has been divided into banking, financial services & insurance, transportation & logistics, healthcare & life sciences, manufacturing, government, telecom, retail and e-commerce, and others.
Global Graph Analytics Market has been analyzed for five regions—North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The Global Graph Analytics Market is estimated to register a CAGR of 31.6% over the forecast period. The geographic analysis of the global graph analytics market has been conducted for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
North America has the largest market share as the companies in this region have been leading in the advancement of technologies globally. The US leads the market in North America due to the high adoption of digital transformation; and the use of advanced technologies such as big data and analytics and the high adoption of cloud-based technologies in the country.
Europe is expected to be the second-largest market during the review period due to the high need for real-time analysis of data among enterprises across verticals. Asia-Pacific is anticipated to be the fastest-growing market in the global graph analytics market during the forecast period. The growing demand for analyzing low-latency queries is the key driver for the growth of the market in Asia-Pacific.
Source: MRFR Analysis
The global Graph Analytics Market is witnessing high growth due to the rise in demand from various verticals such as government, BFSI, and IT & telecommunications. Major players have opted for partnerships and product enhancements as their key organic growth strategies to strengthen their positions in the market and cater to the demands of end users across verticals. For instance, in September 2019, AWS enhanced its solution—Amazon QuickSight by adding new features. The new solution has features such as improvement in organizing assets and sending email alerts on anomalies. The enhanced solution has improved anomaly detection capabilities, and the Word Cloud chart types to represent categorical fields have also been included in it.
The Key Players in the Global Graph Analytics Market are identified based on their country of origin, presence across different regions, recent key developments, product diversification, and industry expertise. These include Linkurious (France), Graphistry (US), Objectivity (UK), Dataiku (US), Neo4j (US), Teradata (US), TIBCO Software (US), Lynx Analytics (Singapore), Microsoft Corporation (US), IBM Corporation (US), AWS (US), TigerGraph (US), Cray, Inc. (US), DataStax (US), and Oracle Corporation (US). The key strategies adopted by most of the players are partnerships, agreements, and collaborations.
The other players in the global graph analytics market include Tom Sawyer Software (US), Kineviz (US), Franz (US), and Expero (UK).
Frequently Asked Questions (FAQ) :
The growth rate for the global graph analytics market will be 31.6% by 2025.
The global graph analytics market will be achieving a valuation of USD 2,885.2 Million by 2025.
MRFR study has included segments such as deployment, component, application, organization size, and vertical.
North America has acquired the largest market share of the market as the companies have been leading in the advancement of technologies globally.
The global graph analytics market will be estimated to grow from the years 2020-2027.