Market Overview
The global Graph Analytics Market is anticipated to generate a CAGR of 31.6% during the analysis period. Further, the same market has been analyzed to account for the market revenue of USD 2,885.2 million during the review period. Graph analytics solutions are a simple analytical technique that is widely used to identify the item’s strength and direction of connections in a graph. This solution is a network analysis that is preferred in graph analytics. And, it is gaining popularity for analytic workloads across the world.
The worldwide Graph Analytics Market growth is driving due to the increasing demand for analyzing low-latency queries in the Asia-Pacific region. In addition, the rising demands for cloud-based solutions, the integration of the Internet of Things, artificial intelligence, and blockchain technology among different end-use sectors are fueling the current market growth.
Moreover, the global market has significant opportunities for vendors and market leaders because of the rapidly growing use of virtualization for big data analytics and increasing requirements to identify complex patterns in businesses. However, the global market might experience restraint due to the complicated coding for use cases and lack of standards.
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Market Segmentation
According to the Graph Analytics Market report, the global market has been classified based on deployment type, component, application, verticals, and organizational size.
Depending on the component segment, the current market has been segmented into services and solutions. Further, the solution segment has been sub-segmented into software tools and platforms. Alternatively, the services segment has been sub-segmented into support and maintenance, consulting, and system integration. Based on the deployment mode segment, the market has been classified into cloud and on-premises.
On the basis of the vertical segment, the current market has been segregated into transportation logistics, banking, financial services insurance, manufacturing process automation, healthcare life sciences, government, retail, e-commerce, telecom, and others. In terms of the application segment, the global market has been classified into recommendation engine, route optimization, customer analytics, fraud detection, risk and compliance management, and others. The present Graph Analytics Market has been divided based on various organization sizes such as Small and Medium-Sized Enterprises (SMEs) and Large Enterprises.
Regional Analysis
The global Graph Analytics Market report explains that the worldwide range of the market has been divided into North America, Asia-Pacific, Europe, the Middle East, Africa, South America, and the rest of the world.
Among these, the North American market has been predicted to hold the major graph analytics market share through the research timeframe because of the advanced technological growth in the business sector across the world.
Apart from these, the European market is registered to be the second-largest market during the review period. This is because of the rising real data analytics among all vertical businesses. Furthermore, the Asia Pacific market is projected to be the fastest-growing market that has generated high profits to the global market during the forecast period. The Asia Pacific market is fueling due to the rising demand for query analysis software in the region.
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Industry News
In September 2019, the market leader AWS declared advanced features in its solution Amazon QuickSight, which is helpful to send email alerts on anomalies, improve organizing assets, introduce Word Cloud chart types, and improve anomaly detection capabilities.
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