An increase in unstructured data, demand for data analytics and a surge in application development activities across the globe propel the growth of the global NoSQL market. However, complications regarding testing of NoSQL applications hinder the growth up to some extent. However, an increase in big data implementation is projected to present new opportunities in the coming years.
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Impact of COVID-19 Pandemic on NoSQL Market Globally (Pre and Post Analysis)
- 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.
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.
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Based on application, the web apps segment held the largest share, with more than one-fourth of the total share in 2018, and is estimated to dominate during the forecast period. However, the mobile apps segment is projected to manifest the highest CAGR of 33.5% 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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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
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.
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According to the report published by Allied Market Research, the global NoSQL market generated $2.41 billion in 2018 and is estimated to reach $22.08 billion by 2026, growing at a CAGR of 31.4% from 2019 to 2026. The report provides an extensive analysis of changing market trends, major winning strategies, key segments, value chain, and competitive landscape.
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