The global graph analytics market size is expected to grow from USD 584 million in 2019 to USD 2,522 million by 2024, at a Compound Annual Growth Rate (CAGR) of 34.0% during the forecast period. The growing demand for the ability to uncover relationships between data in real time is one of the major drivers of the graph analytics market.
Major graph analytics vendors include Microsoft (US), IBM (US), AWS (US), Oracle (US), Neo4j (US), TigerGraph (US), Cray (US), DataStax (US), Teradata (US), TIBCO Software (US), Lynx Analytics (Singapore), Linkurious (France), Graphistry (US), Objectivity (US), Dataiku (US), Tom Sawyer Software (US), Kineviz (US), Franz (US), Expero (US), and Cambridge Intelligence (England). These players have adopted various growth strategies, such as partnerships, agreements, and collaborations; and new product launches, to further expand their presence in the global graph analytics market. Partnerships and new product launches have been the most dominating strategy adopted by the major players from 2017 to 2019, which has helped them to innovate their product offerings and broaden their customer base.
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Microsoft (US) develops and supports software, services, devices, and solutions. Its product offerings include Operating Systems (OS), cross-device productivity applications, server applications, business solution applications, desktop and server management tools, software development tools, and video games. The company also designs, manufactures, and sells devices, such as Personal Computers (PCs), tablets, gaming and entertainment consoles, other intelligent devices, and related accessories. It offers a range of services, including solution support, consulting services, and cloud-based solutions that provide customers with software, services, platforms. In the graph analytics market, the company offers Microsoft Graph, which is a developers’ Application Program Interface (API) platform, to connect to data that drives productivity. It is built on top of Office 365 and enables developers to integrate their services with Azure AD, Excel, Intune, Outlook, One Drive, OneNote, SharePoint, Planner, and other Microsoft products. In the Microsoft 365 platform, there are 3 main components that facilitate the access and flow of data, namely, Microsoft Graph API, Microsoft Graph data connect, and Microsoft Graph Security connectors. Microsoft Graph data connect enables users to analyze meeting requests to provide insights into conference room utilization.
IBM’s (US) major operating sector consists of 5 business segments, namely, cognitive solutions, Global Business Services (GBS), technology services and cloud platforms, systems and global financing. The company has a broad and robust product portfolio and majorly focuses on improving the product efficiency of analytics, cloud, cognitive, commerce, Internet of Things (IoT), industry solutions, systems, mobile, security, social, and Watson technologies. In the graph analytics market, IBM offers the IBM Financial Crimes Insight (FCI) for Watson, which is a single, integrated solution that addresses all phases of enterprise counter-fraud measures. It includes the FCI graph analytics component, which applies graph techniques to look for patterns across the party, account, and transaction data, and compute the network score. The network score and features identified as the outcome of the graph analytics process can be leveraged later in the Machine Learning (ML) pipeline of IBM Financial Crimes Alert Insights (FCAI) with Watson to detect Anti-Money Laundering (AML) scenarios.
Graph Analytics Market by Component, Deployment Mode, Organization Size, Application (Route Optimization and Fraud Detection), Vertical (Healthcare and Life Sciences, Transportation and Logistics, and BFSI), and Region - Global Forecast to 2024
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