NoSQL Database Software Market projecting a CAGR of 35.1% during the forecasted period, 2020-2026
Published | 02 February 2020
NoSQL is database management developed for storage, analysis, and access to a large volume of unstructured data. NoSQL Database Software allows schema-less data storage, which is not possible with relational database storage. High scalability, higher availability, simpler designs are a few of the key advantages of using NoSQL Database Software. Global NoSQL Database Software Market is expected to be valued worth 4.2 billion by 2020, projecting a CAGR of 35.1 percent during the forecasted period. NoSQL Database Software’s capability to easily manage big data is a major factor driving the growth of the market in 2019. Growing adoption of advanced database solutions to support increased business data and awareness among end-users is expected to be major factors driving the expansion of the Global NoSQL Database Software Market in the forecasted period.
Increase in number of partnerships, joint ventures, agreements among the stakeholders of the NoSQL software market to promote the expansion of the NoSQL software market in the forecasted period
The rise in demand for data analytics serves the purpose of driving the growth of the market for NoSQL Database Software. The analysis of data generated in numerous processes in case of unstructured data to support the moderate data analytics needs high-end NoSQL Database Software, thereby increasing the demand for the market. The spurge in social media such as blogs, portals, games such as Facebook, Matrimonial sites, and LinkedIn has led to the rising of unstructured and semi-structured data, in turn raising the demand of NoSQL Database Software Market. This impact of this factor would further increase in the future due to the rise in structured and unstructured data from applications such as retail transactions, social media, and web applications.
NoSQL software supports moderate level analytics on stored data records and needs to perform complex real-time transactions on stored data, which in turn would support the RDBMS database platform. Due to unstructured formats, NoSQL software databases are difficult to test, which limits the adoption of the software in several retail applications. Even in the future, NoSQL would not be in the ideal solution for critical applications. The increase in a number of partnerships, joint ventures, agreements among the stakeholders of the NoSQL software market promotes the expansion of the NoSQL software market in the forecasted period.
Key-value store NoSQL segment accounted for the largest share in the Global NoSQL Database Software Market
On the basis of Type, the Global NoSQL Database Software Market can be classified as Key-Value Store, Column Based Stores, Graph Database, and Document Databases. On the reasoning of Application, the market can be fragmented as Distributed Data Depository, Cache Memory, Data storage, Metadata store, e-Commerce, Mobile Apps, Data Analytics, Web Applications, and Social Networking). On the basis of Vertical, the Global NoSQL Database Software Market can be divide as Retail, IT, Online Game Development, Social Network Development, Web Applications Management, Government, BFSI, Healthcare, and Education. The commonly observed types of Global NoSQL Database Software Market are document databases, column-based NoSQL stores, and graph-based NoSQL stores. In 2019, key-value store NoSQL accounted for the largest share due to the rise in demand for web and e-commerce applications. In the forecasted period, web applications are expected to drive the market due to high usage in session management and user profile recording.
North America accounted for the highest revenue-generating segment in the Global NoSQL Database Software Market in 2019
North America, Asia-Pacific, Europe, and LAMEA are few of the key regions where the presence of Global NoSQL Database Software Market can be witnessed. In 2019, North America was the highest revenue-generating segment owing to the larger adoption of NoSQL systems for the expansion of web applications and e-commerce in the region. Asia-Pacific is expected to emerge as a key region in the forecasted period for Global NoSQL Database Software Market due to a rise in structured and unstructured data from applications such as retail transactions, social media, and web applications in the region.
Global NoSQL Database Software Market: Key Market Players
MangoDB, ArangoDB, Amazon, Azure Cosmos DB, Couchbase, RethinkDB, MarkLogic, CouchDB, OrientDB, RavenDB, SQL-RD and Redis are few of the key players in the Global NoSQL Database Software Market.
The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of NoSQL Database Software market size & forecast. The report promises to provide state-of-the-art technology of NoSQL Database Software production and industry insights which help decision-makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.
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