CHICAGO, July 30, 2021 /PRNewswire/ — According to the new market research report “Graph Database Market with COVID-19 Impact Analysis, By Type (RDF and LPG), Application (Fraud Detection and Prevention, and Recommendation Engine), Component (Software and Services), Deployment Mode, Vertical, and Region – Global Forecast to 2026″, published by MarketsandMarkets™, the market size to grow from USD 1.9 billion in 2021 to USD 5.1 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 22.5% during the forecast period.
Various factors such as need to incorporate real-time big data mining with visualization of results, increasing adoption for AI-based graph database tools and services to drive market, and growing demand for solutions that can process low-latency queries are expected to drive the adoption of graph database solutions and services.
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COVID-19’s global impact has shown that interconnectedness plays an important role in international cooperation. As a result, several governments started rushing toward identifying, evaluating, and procuring reliable solutions powered by AI. Graph databases and AI are invaluable to organizations managing uncertainty in real-time, but most predictive models rely on historical patterns. The use of graph database and AI has accelerated in the…