Lack of standardization and programming flexibility is boosting the Graph Database Market into USD 7.400 Bn revenue sector | Forecast period 2023-2027
Insufficient standardisation, limited programming flexibility, and a shortage of skilled workforce are anticipated to lead the graph database market to grow steadily. The market is predicted to expand by USD 7.400 billion, with a compound annual growth rate of 19.9% in next five years.
Technavio Analyst Quoted ~ “The rise of the open knowledge network (OKN) might have a big impact on graph databases as openly accessible knowledge network (OKN) seeks to create a worldwide, linked network of knowledge through the use of open data and semantic technologies.”
Snapshot of Graph Database Market Analysis
Open knowledge network gaining popularity and Increasing demand for connected data: are expected to hinder the growth of the market. However, Increased demand for low-latency query and Expansion of Internet of Things (IoT) and connected devices will have a positive impact on the graph database market during the forecast period.
Technavio’s analysis of the graph database market also includes: