PUBLISHER: Allied Market Research | PRODUCT CODE: 1414710
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414710
According to a new report published by Allied Market Research, titled, "NoSQL Market," The nosql market was valued at $7.3 billion in 2022, and is estimated to reach $86.3 billion by 2032, growing at a CAGR of 28.1% from 2023 to 2032.
The report covers the study of the NoSQL market along with its types, applications and verticals. The research involves a study of NoSQL software, which includes revenue realized from the sale of commercial licenses as well as revenue realized from the upgrade charges of open-source NoSQL solutions. The NoSQL market is studied in accordance with four types, key-value store, document databases, column-based stores and graph-based stores. Applications of the NoSQL considered in the report are data storage, data analytics, e-commerce, web applications, social networks, and mobile app development.
Furthermore, the market is profoundly influenced by considerable expenses related to NoSQL solutions and services. Primarily, these expenses can serve as a deterrent for smaller and medium-sized enterprises (SMEs) with constrained budgets. SMEs may perceive NoSQL databases as a financial burden, leading to insufficient investment in these solutions. In addition, even larger organizations may exhibit hesitation in allocating substantial resources to NoSQL solutions, particularly when faced with competing budgetary demands. Moreover, excessive costs associated with NoSQL solutions may hinder the adoption of global market in industries or regions where there is limited awareness of its benefits.
Furthermore, the notable factors positively affecting the NoSQL market include rise in demand for big data analytics, enterprise-wide need for scalable and flexible database solutions, and growth in adoption of cloud computing technology. However, the high complexities of administrating NoSQL databases and the potential threat of data-related inconsistencies can hinder market growth. Furthermore, the rise in adoption of advanced technologies such as
1) AI & ML offers lucrative market opportunities for the market players.
The NoSQL market is segmented on the basis of type, application, industry vertical, and region. On the basis of type, it is categorized into key-value store, document database, column-based store, and graph database. On the basis of application, it is divided into data storage, mobile apps, data analytics, web apps, and others. The data storage segment is further sub-segmented into distributed data depository, cache memory, and metadata store. On the basis of industry vertical, it is categorized into retail, gaming, IT, and others. On the basis of region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The market players operating in the global NoSQL market. This report further outlines the current trends and key areas of investment. In addition, it includes Porter's five forces analysis to understand the competitive scenario of the industry and role of each stakeholder. The report features the strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key market players to increase their market share and sustain intense competition in the industry. The key players operating in the market include Aerospike Inc., Couchbase Inc., IBM Corporation, Neo4j, Inc., Objectivity, Inc, Oracle Corporation, Progress Software Corporation, Riak, ScyllaDB, Inc., and Apache Software Foundation.
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