“Global NoSQL Market to reach a market value of USD 57.6 Billion by 2031 growing at a CAGR of 27.3%”
The Global NoSQL Market size is expected to reach $57.6 billion by 2031, rising at a market growth of 27.3% CAGR during the forecast period.
NoSQL databases are being adopted across various industries, including finance, healthcare, retail, and technology, driving growth across different sectors in North America. Therefore, the North American region captured $3,114.5 million in the market in 2023. As businesses become more aware of the benefits of these databases, there is an increasing emphasis on education and training in North America to help organizations better leverage these technologies.
Traditional relational databases often encounter limitations when attempting to scale across distributed systems horizontally. Conversely, NoSQL databases are purposefully engineered to scale out effortlessly, rendering them exceptionally well-suited for big data applications that demand the processing of extensive datasets in real-time. Hence, these factors will boost the demand for these databases in the coming years.
Additionally, NoSQL databases stand out in the market for their provision of flexible, schema-less data models, a feature that revolutionizes the way developers handle data in modern applications. Unlike traditional relational databases, which require predefined schemas and rigid structures, these databases empower developers to store and manage data in unstructured, semi-structured, or rapidly changing formats without imposing strict schema constraints. Therefore, these factors can help in the growth of the market.
However, unlike traditional relational databases, which typically adhere to standardized query languages like SQL (Structured Query Language) and predefined schemas, these databases often lack such standardization. They need to adopt new data modeling paradigms and query techniques tailored to the specific database they are working with. Hence, these factors can lead to decreased demand in the market.
Based on type, the market is segmented into key-value store, document database, column-based store, and graph database. The key-value store segment held 42.1% revenue share in the market in 2023. Key-value stores offer excellent scalability, making them suitable for handling large volumes of data. With the increasing demand for storage and processing power in modern applications, businesses are turning to key-value stores to meet their scalability needs.
On the basis of application, the market is divided into mobile apps, data analytics, web apps, data storage, and others. The data analytics segment recorded 24.3% revenue share in the market in 2023. Enterprises require resilient data analytics tools to extract valuable insights and facilitate well-informed decision-making in light of the proliferation of data originating from diverse channels, including social media platforms, Internet of Things devices, and online transactions.
Based on end user, the market is divided into retail, gaming, IT, and others. The IT segment recorded 37.8% revenue share in the market in 2023. As big data and analytics initiatives proliferate, NoSQL databases are increasingly recognized as indispensable tools for storing and analyzing extensive and intricate data sets. IT departments leverage these databases to power real-time analytics, machine learning, and other data-driven applications.
Free Valuable Insights: Global NoSQL Market size to reach USD 57.6 Billion by 2031
By region, the market is segmented into North America, Europe, Asia Pacific, and LAMEA. In 2023, the Europe segment acquired 29.5% revenue share in the market. The explosion of data generated by social media, IoT devices, e-commerce platforms, and other sources has created a demand for databases that can efficiently handle unstructured and semi-structured data.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 8.7 Billion |
| Market size forecast in 2031 | USD 57.6 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 27.3% from 2024 to 2031 |
| Number of Pages | 246 |
| Number of Tables | 390 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Application, End User, Region |
| Country scope |
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| Companies Included | Aerospike, Inc., Couchbase, Inc., IBM Corporation, Neo4j, Inc., Accenture PLC, Oracle Corporation, Progress Software Corporation, ScyllaDB, Inc., Google LLC (Alphabet Inc.), Microsoft Corporation |
By Type
By Application
By End User
By Geography
This Market size is expected to reach $57.6 billion by 2031.
Need for scalability and performance requirements in big data applications are driving the Market in coming years, however, Concerns about the complexity of data modeling and querying restraints the growth of the Market.
Aerospike, Inc., Couchbase, Inc., IBM Corporation, Neo4j, Inc., Accenture PLC, Oracle Corporation, Progress Software Corporation, ScyllaDB, Inc., Google LLC (Alphabet Inc.), Microsoft Corporation
The expected CAGR of this Market is 27.3% from 2024 to 2031.
The Web Apps segment is generating highest revenue in the Market by Application in 2023; thereby, achieving a market value of $16.8 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $19.6 billion by 2031.
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