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During the forecasted period, web apps and social gaming advancements will help to drive market growth.
PORTLAND, PORTLAND, OR, UNITED STATE, September 8, 2023/EINPresswire.com/ — Allied Market Research published a new report, titled, ” The NoSQL Market Expected to Reach USD 22,087 Billion by 2026 | Top Players such as – AWS, DataStax & 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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Increase in unstructured data, demand for data analytics, and surge in application development activities across the globe propel the growth of the global NoSQL market. North America accounted for the highest market share in 2018, and will maintain its leadership status during the forecast period. Demand for online gaming and content consumption from OTT platforms increased significantly. So, the demand for NoSQL increased for handling huge amount of data.
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 vertical, the IT sector contributed to the highest market share in 2018, accounting for more than two-fifths of the total market share, and is estimated to maintain its highest contribution during the forecast period. However, the gaming segment is expected to grow at the highest CAGR of 34.8% from 2019 to 2026.
Based on type, the key value store segment accounted for more than two-fifths of the total market share in 2018, and is estimated to maintain its lead position by 2026. Contrarily, the graph based segment is expected to grow at the fastest CAGR of 34.2% during the forecast period.
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Based on region, North America accounted for the highest market share in 2018, contributing to more than two-fifths of the global NoSQL market share, and will maintain its leadership status during the forecast period. On the other hand, Asia-Pacific is expected to witness the highest CAGR of 35.5% from 2019 to 2026.
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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● With lockdown imposed by governments of many countries, demand for online gaming, content consumption from OTT platforms, and activity on social media increased significantly. So, the demand for NoSQL increased for handling huge amount of data.
● With organizations adopting “work from home” strategy to ensure continuity of business processes, NoSQL databases would be needed to store and retrieve data.
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