New York, US, Oct. 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Graph Analytics Market information by Deployment Type, by Components, by Application and Region – forecast to 2027” market size to reach USD 2,885.2 million, growing at a compound annual growth rate of 31.6% by 2025.
Graph analytics or network analysis uncovers relationships between entities and data points with the help of graphs. The large volume of data generated on a daily basis can be complex and graphs assist in making right decisions. The global graph analytics market report by Market Research Future (MRFR) reveals useful insights to be used in marketing, social networking, and others for the forecast period (2020-2027). The COVID-19 pandemic and its effects on the industry make up a pivotal portion of the report.
Dominant Key Players on Graph Analytics Market Covered are:
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Market USP Exclusively Encompassed:
Insights in Marketing to Boost Graph Analytics Demand
Nations aiming to connect the large populace of cities with rural areas can lead to heave investments in rail infrastructure. Expansions of rail road projects to serve as a reliable backup for trade and being integral to logistics and supply chains can drive the graph analytics market. Bids and auctions invited by governments to modernize the railways can serve as an incentive to graph analytics manufacturers.
Identification of Fraud through Relevant Graphs to Push Market Growth
The fuel burn penalty for graph analytics emitting nitrogen oxide can motivate railroad operators to opt for engines with alternative fuels such as diesel, LNG, and electric. Replacement of gasoline engines with diesel and encouragement of brake thermal efficiency can bode well for the market. Investments in fuel injection technology to improve the performance of graph analytics engines has high potential in the market.
Lack of Skilled Personnel to Impede Market Growth
Hybrid graph analytics are estimated to gain precedence slowly in the market as nations look to introduce sustainable development goals in their budget. Benefits of low fuel consumption and noise reduction compared to its conventional counterpart can drive its demand. Modernization initiatives by nations to rapidly upgrade its railroad infrastructure and connect citizens to faraway routes can bode well for the market. This is exemplified by the agreement between Hyundai Rotem and the Tanzania Railway Corporation for electric graph analytics and electric multiple units.
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Segmentation of Market Covered in the Research:
By component, the global graph analytics market has been divided into solution and service. The service segment has further been divided into consulting, system integration, and support and maintenance.
Cloud Deployment to Dominate Market Growth
By deployment type, the global graph analytics market has been divided into cloud and on-premise.
Large Enterprises to Captue Maximum Market Share
Based on organization size, the global graph analytics market has been divided into small- and medium-sized enterprise (SME) and large enterprise segments.
Route Optimization Application to Deliver Maximum Returns
Based on application, the global graph analytics market has been divided into customer analytics, risk and compliance management, recommendation engines, route optimization, fraud detection, and others.
BFSI Vertical to Lead in Market Demand
Based on vertical, the global graph analytics market has been divided into banking, financial services & insurance, transportation & logistics, healthcare & life sciences, manufacturing, government, telecom, retail and e-commerce, and others.
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North America to Lead Global Graph Analytics Market
North America potential for railroad networks. Rapid industrialization and transport of goods through freight carriers can drive the regional graph analytics market growth. Huge production of rolling stock and investments in railroad connectivity projects can influence the market.
COVID-19 Impact on the Global Graph Analytics Market
The COVID-19 pandemic has acted as a catalyst for the graph analytics market as graphs can make sense of abstract data through visual representation. Utilization of special clustering algorithms for overcoming limits of traditional approaches of virus detection in communities can bode well for the market. Governments are leveraging on graph analytics for tracking the spread of the virus. Recently, We-Yun has built an application on the back of Neo4j graph database for enlightening Chinese citizens if they were in proximity of the virus.
TigerGraph has expanded its partner system across Asia, Europe, and the United States after raising capital to the tune of USD 105 million.
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