NoSQL Market Expected to Reach $4.2 Billion by 2020
April 8 — According to a new report, published by Allied Market Research, titled, “Global NoSQL Market- Size, Industry Analysis, Trends, Opportunities, Growth and Forecast, 2013 – 2020,” the global NoSQL market is expected to reach $4.2 billion by 2020, registering a CAGR of 35.1% during 2014 – 2020.
The NoSQL usage, in web applications and data storage & analysis, is poised to drive the NoSQL market, significantly, through the analysis period of 2013 – 2020. North America, is slated to remain, as a major market driving region, contributing to more than 2/5 of the overall industry revenue, through 2020.
Among all types of NoSQL databases, the key-value stores, should remain the most preferred type of NoSQL, due to their usage in web applications for blogs, session management and e-commerce. The usage of NoSQL, is significantly high in IT, for web session management, social network management, etc.
The key value stores, are the driving factors of the market, with its applications in web session management, user profile management and e-commerce support. Document databases, have emerged as the next most attractive type of NoSQL, with its simple design and basic ability, to support analytical queries. Several leading players, such as Couchbase, MongoDB, Amazon, MarkLogic, etc. are indulging in agreements, with all application industry players, in order to rise in the market. The agreement of these players, with leading companies, such as Google, Facebook, Twitter, MetLife, Snapdeal, Flipkart, etc. are facilitating a win-win situation for both parties.
Key findings of the study:
- Global market for NoSQL, is slated to grow, due to adoption of a wide variety of applications, such as web session management, mobile app development and e-commerce, during the forecast period of 2014-2020
- Graph based NoSQL market is poised to grow at a rapid CAGR of 40.8%, during 2014-2020
- Asia-Pacific region, would prove to be one of the most lucrative markets, in terms of growth. The market is expected to grow at a CAGR of 41.3% during 2014-2020
- The North American region, would continue to soar as the major driver of NoSQL market, which would be valued more than 40% of its market size, by 2020
The market growth can be attributed to innovative launches of NoSQL solutions, and collaborative efforts by NoSQL vendors & customers. The efforts of customer companies, in order to improve their market offerings, are generating the demand of NoSQL, as a back end support. The emergence of agile software development, is generating the demand for NoSQL. Numerous leading companies such as MongoDB, Riak, Amazon, etc. are offering their NoSQL database, for free download, which can be upgraded to suit, increased needs of business, with purchased licenses. Prominent companies, profiled in the report include, Couchbase, Aerospike, Neo4j, InfiniteGraph, Basho Technologies, Hypertable, Cassandra and MarkLogic.