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Nosql Market
The NoSQL database industry is driven by an increase in demand for e-commerce and online applications, which adds to total market demand.
PORTLAND, PORTLAND, OR, UNITED STATE, October 10, 2023 /EINPresswire / -- Allied Market Research published a new report, titled, " The USD 22,087 Billion NoSQL Market Expected to Reach by 2026 | Top Players such as - Objectivity, DataStax and Couchbase." The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter's Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The NoSQL market size was valued at USD 2,410.5 million in 2018, and is projected to reach USD 22,087 million by 2026, growing at a CAGR of 31.4% from 2019 to 2026.
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Rise in unstructured data, increase in demand for data analytics, and surge in application development business across the globe drive the growth of the global NoSQL market. On the other hand, complexities related with testing NoSQL applications curtail down the growth to some extent. However, growth in big data is expected to create multiple opportunities in the industry.
The NoSQL market is segmented on the basis of type, application, industry vertical, and region. By 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. Further the data storage segment is sub-segmented into distributed data depository, cache memory, and metadata store. Depending on industry vertical, it is categorized into retail, gaming, IT, and others. By region, the NoSQL market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Based on type, the key value store segment contributed to more than two-fifths of the global NoSQL market revenue in 2018, and is expected to lead the trail by the end of 2026. The simplicity in implementation of database is a major driver of the segment. On the other hand, the graph based segment would register the fastest CAGR of 34.2% throughout the forecast period. The ability to support a large number of connections drives the growth of the segment.
Based on application, the web apps segments accounted for more than one-fourth of the global NoSQL market share in 2018, and is anticipated to lead the trail till 2026. NoSQL is emerging as one of the most suitable technological options for storing web app session information which drives the segment. At the same time, the mobile apps segment would manifest the fastest CAGR of 33.5% during the study period. Due to storage in schema-less format, app developers can comfortably modify applications without making any major infrastructure changes which augments the growth of the segment.
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Based on geography, North America held the lion's share, generating more than two-fifths of the global NoSQL market. The higher awareness among North American users regarding the benefits of NoSQL technology is driving the adoption of NoSQL in this region. On the other hand, Asia-Pacific region is also projected to portray the fastest CAGR of 35.5% during the estimated period. This is due to rise in its adoption for social network development and app development purposes in the Asia-Pacific region.
Leading players of the global NoSQL market analyzed in the research include Aerospike, Inc., DataStax, Inc., Amazon Web Services, Inc., Couchbase, Inc., Microsoft Corporation, MarkLogic Corporation, Google LLC, Neo Technology, Inc., MongoDB, Inc., and Objectivity, Inc.
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Impact of COVID-19 Pandemic on NoSQL Market Globally (Pre and Post Analysis)
● Due to global lockdown, the usage of social networking and online gaming has been increased. This fueled the demand for NoSQL application in the social networking and online gaming market.
● The adoption of NoSQL applications in regions including North America and Asia-pacific has been increased amid COVID-19.
Market Dynamics and Transformations
● Economic Downturn Analysis: Impact of Recession in 2023
● Pandemic's Influence: Impact of Covid-19 Pandemic
● Market Evolution: Recent Developments in the Market with Key Players Announcements.
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Allied Market Research (AMR) is a market research and business-consulting firm of Allied Analytics LLP, based in Portland, Oregon. AMR offers market research reports, business solutions, consulting services, and insights on markets across 11 industry verticals. Adopting extensive research methodologies, AMR is instrumental in helping its clients to make strategic business decisions and achieve sustainable growth in their market domains. We are equipped with skilled analysts and experts and have a wide experience of working with many Fortune 500 companies and small & medium enterprises.
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