In recent years, graph analytics has received significant attention from the BFSI, healthcare, retails & e-commerce industries owing to its considerable benefits, such as high performance, reliability, scalability, better problem solving, and real-time applications. In its latest publication on the graph analytics market, Meticulous Research states that this market will grow at a CAGR of 19.1% from 2019 to 2027 to reach $2.03 billion by 2027.
The growing need to analyze low-latency queries, increasing demand for cloud-based services, security agility, and integration of AI, IoT, and Blockchain technologies are factors driving the growth of this market. In addition, the ability of graph analytics to uncover relationships between data in real-time is further driving the growth of this market. However, the lack of technical skills regarding graph analytics and degrading economic situation due to COVID-19 are restraining the growth of the graph analytics market to a certain extent.
To provide efficient analysis, Meticulous Research® has segmented this market based on component (solutions and services), deployment mode (on-premise and cloud), industry size (small & medium and large enterprises), application (customer analytics, risk & compliance management, recommendation engine, route optimization, fraud detection, other), end user (BFSI, retail & e-commerce, telecom, healthcare, government, manufacturing, transportation & logistics, and other), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa).
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Scope of the report
Graph Analytics Market, by Component
- Software Tools
- Professional Services
- Managed Services
Graph Analytics Market, by Deployment Mode
Graph Analytics Market, by Industry Size
- Small & Medium Enterprises
- Large Enterprises
Graph Analytics Market, by Application
- Customer Analytics
- Risk & Compliance Management
- Recommendation Engine
- Route Optimization
- Fraud Detection
Graph Analytics Market, by End User
- Retail & E-commerce
- Transportation & Logistics
Graph Analytics Market, by Region
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East and Africa
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Geographically, the North American region is poised to command the largest share of the graph analytics market in 2020. The growth of this region can be attributed to the increasing use of big data technology, growing volume of data across various verticals, and rising investment by companies in real-time analytics. On the flip side, Asia-Pacific is also showing promising growth in terms of the incorporation of graph analytics. Organizations across the APAC region are benefiting from developing infrastructure and gradually realizing the importance of graph analytics.
In terms of industry size, the large enterprises segment is projected to command the largest share of the graph analytics market in 2020, owing to its strong infrastructure, coupled with a large number of skilled IT personnel who maintain large volumes of graph databases. Furthermore, large enterprises have a strong financial backup, and hence they can easily procure desired graph analytical solutions. However, small and medium scale organizations are also incorporating graph analytics, realizing the significance of graph analytics for customer retention and risk & compliance management.
In terms of application, the fraud detection segment is expected to command the largest share of the graph analytics market in 2020. The large share of this segment is mainly attributed to the rising number of fraudulent attacks, increasing use of electronic transactions across all the verticals, and increasing sophistication of cyber-attacks. In addition, the growing adoption of technologies, such as AI and machine learning for fraud detection is further stimulating the demand for fraud analytics solutions.
Based on end user, the BFSI segment is expected to account for the largest share of the graph analytics market in 2020. The large share of this segment is mainly due to the increasing volume of transactional data, technological advancements, digitalization of the financial sector, and growing need to implement risk & fraud analytic solutions.
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Due to COVID-19, the global healthcare analytics system is experiencing immense strain, which is affecting critical life-saving operations and processes. Considering this fact, healthcare facilities are inclining more towards analytics to reduce strain on the existing infrastructure and improve their work agility. However, the healthcare sector is expected to grow with the fastest growth rate over the coming years.
The report provides competitive intelligence in terms of financials, growth strategies, product portfolios, and geographical presence on some of the key players operating in this market, such as Neo4j Inc. (U.S.), TigerGraph (U.S.), TIBCO Software Inc. (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), Lynx Analytics (Singapore), Tom Sawyer Software (U.S.), IBM Corporation (U.S.), Cray Inc (U.S.), Datastax (U.S.), Objectivity (US), Kineviz (US), Franz (US), and Expero (US).
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