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NoSQL Market Estimated to Reach $22.08 Billion by 2026, Says Allied Market Research

September 15, 2020 GMT

Pune, Maharashtra, India, September 15 2020 (Wiredrelease) Allied Analytics :According to the report, the global NoSQL Market was pegged at $2.41 billion in 2018, and is expected to hit $22.08 billion by 2026, registering a CAGR of 31.4% from 2019 to 2026. Rise in unstructured data, increase in demand for data analytics, and surge in application development business across the globe drive the growth of the global NoSQL market. On the other hand, complexities related with testing NoSQL applications curtail down the growth to some extent. However, growth in big data is expected to create multiple opportunities in the industry.

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COVID-19 scenario:

Due to global lockdown, the usage of social networking and online gaming has been increased. This fueled the demand for NoSQL application in the social networking and online gaming market.

The adoption of NoSQL applications in regions including North America and Asia-pacific has been increased amid COVID-19.

Get detailedCOVID-19 impactanalysis on theNosql Market

Based on type, the key-value store segment contributed to more than two-fifths of the global NoSQL market revenue in 2018, and is expected to lead the trail by the end of 2026. The simplicity in the implementation of the database is a major driver of the segment. On the other hand, the graph-based segment would register the fastest CAGR of 34.2% throughout the forecast period. The ability to support a large number of connections drives the growth of the segment.

North America held the lions share, generating more than two-fifths of the global NoSQL market. The higher awareness among North American users regarding the benefits of NoSQL technology is driving the adoption of NoSQL in this region. On the other hand, the Asia-Pacific region is also projected to portray the fastest CAGR of 35.5% during the estimated period. This is due to the rise in its adoption for social network development and app development purposes in the Asia-Pacific region.

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Frontrunners in the industry:

Couchbase Inc.
Google LLC
MarkLogic Corporation
MongoDB Inc.
Neo Technology Inc.
Objectivity Inc.
Aerospike Inc.
Amazon Web Services Inc.
DataStax Inc.
Microsoft Corporation

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