Global Graph Technology Market Poised for Growth, Expected to Reach $11.63 Billion by 2028

The Business Research Company's Rolling Graph Technology Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 25, 2024 /EINPresswire.com/ -- The global graph technology market is projected to grow from $4.31 billion in 2023 to $5.26 billion in 2024, at a CAGR of 22.2%. This exponential growth is driven by advancements in AI and machine learning integration, IoT and sensor data analysis, and various other applications in diverse industries. The market is anticipated to reach $11.63 billion by 2028, with a compound annual growth rate (CAGR) of 21.9%.

Expansion of IoT Drives Market Growth
The expansion of the Internet of Things (IoT) is a significant factor contributing to the growth of the graph technology market. IoT refers to the network of interconnected devices embedded with sensors, software, and other technologies that enable data collection and exchange. Graph technology's ability to efficiently model and analyze complex relationships between various data points enhances decision-making and data visibility, thereby improving IoT applications' functionality and efficiency. According to the GSM Association, IoT connections are expected to increase from 15.1 billion in 2021 to 23.3 billion by 2025, and further to 37.4 billion by 2030. This expansion is propelling the growth of the graph technology market.

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Key Players and Market Trends
Major companies operating in the graph technology market include Microsoft Corporation, Amazon Web Services Inc., International Business Machines Corporation, Oracle Corporation, Teradata Corporation, Progress Software Corporation, DataStax Inc., Neo4j Inc., TigerGraph Inc., and others. These companies are focused on developing innovative technologies to maintain a competitive edge. For instance, in March 2022, Privateer launched Wayfinder, a proprietary knowledge graph technology for tracking space debris and satellites. This technology features a real-time digital catalog and data mapping system, essential for safer and more efficient operations in space.

Segments:
• By Component: Software, Services
• By Graph Type: Property Graph, Resource Description Framework (RDF), Hypergraph
• By Database Type: Relational (SQL), Non-Relational (No SQL)
• By Application: Fraud Detection, Data Management And Analysis, Customer Analysis, Identity And Access Management, Compliance And Risk, Other Applications
• By Industry: Banking Financial Services And Insurance (BFSI), Retail And E-commerce, Information Technology (IT) And Telecommunications,
Healthcare And Life Science, Government And Public Sector, Media And Entertainment, Supply Chain And Logistics, Other Industries

Geographical Insights: Asia-Pacific Leading the Market
North America was the largest region in the graph technology market in 2023. However, Asia-Pacific is expected to be the fastest-growing region in the forecast period, driven by rapid technological advancements and increased adoption of graph technology across various industries.
Access the complete report for an in-depth analysis of the global graph technology market: https://www.thebusinessresearchcompany.com/report/graph-technology-global-market-report

Graph Technology Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Graph Technology Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on graph technology market size, graph technology market drivers and trends, graph technology market major players, competitors' revenues, market positioning, and market growth across geographies. The graph technology market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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