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- Global NoSQL Market
Global NoSQL Market to Reach US$ 35.7 Billion by 2028, Bolstered by Rising Need for Data Management
May 03, 2021
As per the latest report by IMARC Group, titled “NoSQL Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global NoSQL market reached a value of US$ 7.3 Billion in 2022. 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.
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$ 35.7 Billion by 2028, growing at a CAGR of 29.92% during the forecast period (2023-2028).
Market Summary:
- On the basis of the database type, the market has been classified into key-value, document, column, and graph-based databases. At present, the key-value database represents the most popular type.
- Based on the technology, the market has been segregated MySQL, database, oracle, relational database management systems (RDBMS), ACID, metadata, Hadoop, and others.
- The market is categorized based on the vertical into BFSI, healthcare, telecom, government, retail, and others.
- On the basis of application, data analytics is the largest segment. Other major segments are data storage, metadata store, cache memory, distributed data depository, e-commerce, mobile apps, web applications, social networking, and others.
- Region-wise, North America (the United States and Canada) exhibits a clear dominance in the market. Other major regions include Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Aerospike, Inc., Amazon Web Services, Inc., Apache Cassandra, Basho Technologies, Inc., Cisco Systems, Inc., Couchbase, Inc., Hypertable Inc., IBM, MarkLogic Corporation, Microsoft Corporation, MongoDB Inc., Neo Technology Inc., Objectivity Inc., and Oracle Corporation.
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