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As per the latest report by IMARC Group, titled “NoSQL Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global NoSQL market size reached US$ 5.5 Billion in 2021. Not only standardized query language (NoSQL) refers to a database that provides a mechanism for storage and retrieval of a massive volume of unstructured data. It makes use of real-time web applications and big data to enable schema-less data storage. The use of NoSQL has increased over the years as it offers high scalability, precise control, a straightforward design and convenient big data management. It can also accommodate data models, key-value, document, columnar, and graph formats. NoSQL utilizes flexible database tables compared to the relational database table, which aids in its prompt operations.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global NoSQL Market Trends:
With the increasing penetration of the internet and smartphones, NoSQL databases are being adopted to support the expanding business data in the social networks, retail, and e-commerce sectors, which represents the major growth-inducing factor. The colossal amount of unstructured and semi-structured data generated by varied business needs and user preferences is also fueling the demand for NoSQL database systems for data management and analysis. Furthermore, the increasing implementation of big data analytics is expected to bolster the market in the future. Moreover, the integration of NoSQL systems into the Industry 4.0 offers lower costs, schema flexibility, high scalability and distributed computing. On account of these factors, the market value is expected to reach US$ 27.4 Billion by 2027, growing at a CAGR of 30.2% during the forecast period (2022-2027).
Market Summary:
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