The North America Graph Technology Market would witness market growth of 21.2% CAGR during the forecast period (2023-2030).
Social media platforms, which thrive on the intricacies of human connections, have been at the forefront of adopting graph databases. It is leveraged to recommend friends, content, and advertisements, providing a more engaging and personalized user experience. In the healthcare sector, it is used to enhance patient care, optimize clinical workflows, and facilitate medical research. It enables the efficient management of patient records, tracks the spread of diseases, and identifies potential outbreaks by analyzing complex networks of patient interactions.
Additionally, it is a powerful tool in the fight against fraud. It assists financial institutions in identifying suspicious patterns and connections among transactions, helping to prevent fraudulent activities and protect customer assets. The transportation and logistics industry utilizes graph databases to optimize route planning, track shipments, and manage vehicle fleets. It enhances operational efficiency by modeling complex networks of transportation routes and schedules. Knowledge graphs, powered by graph technology, are revolutionizing information retrieval and knowledge management.
According to the US Census Bureau of the Department of Commerce, the estimated value of U.S. retail e-commerce sales in the second quarter of 2023—adjusted for seasonal variation but not for price changes—was $277.6 billion, up 2.1 percent (0.9%) from the first quarter. Total retail sales for the second quarter of 2023 were estimated at $1,798.2 billion. The second quarter of 2023 e-commerce estimate increased 7.5 percent (±1.4%) from the second quarter of 2022, while total retail sales increased 0.6 percent (±0.4%) in the same period. E-commerce sales in the second quarter of 2023 accounted for 15.4 percent of total sales. Therefore, increasing sales in North America's e-commerce and retail sectors will boost the expansion of the market in the region.
The US market dominated the North America Graph Technology Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $3,658.1 million by 2030. The Canada market is exhibiting a CAGR of 23.9% during (2023 - 2030). Additionally, The Mexico market would experience a CAGR of 22.8% during (2023 - 2030).
Based on Component, the market is segmented into Software and Services. Based on Database Type, the market is segmented into Relational (SQL) and Non-relational (No SQL). Based on Deployment, the market is segmented into On-premise and Cloud. Based on Graph Type, the market is segmented into Property Graph, Resource Description Framework (RDF) and Hypergraph. Based on Analysis Model, the market is segmented into Path Analysis, Connectivity Analysis, and Community & Centrality Analysis. Based on Industry, the market is segmented into IT & Telecom, Supply Chain & Logistics, Retail & E-commerce, BFSI, Healthcare & Life Science, Government & Public Sector, and Others. Based on Application, the market is segmented into Data Management & Analysis, Fraud Detection, Customer Analysis, Compliance & Risk, Identity & Access Management, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Graph Technology Market is Predict to reach USD 15 Billion by 2030, at a CAGR of 22%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Oracle Corporation, IBM Corporation, Neo4j, Inc., Stardog Union, Amazon Web Services, Inc. (Amazon.com, Inc.), Microsoft Corporation, ArangoDB Inc., TigerGraph, Inc., Progress Software Corporation and DataStax, Inc.
By Component
By Database Type
By Deployment
By Graph Type
By Analysis Model
By Industry
By Application
By Country
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