NoSQL

Chronicle

2023: Global NoSQL sales up 28% year over year to reach $9.1 billion

In 2023, the global market for NoSQL reached $9.1 billion. This is 28% more than in the previous year, when the figure was $7.1 billion. In the future, the industry under consideration will continue to show steady growth, as stated in the Market Research Future review, presented in March 2024.

The term NoSQL refers to non-relational types of databases in which information is stored in a format other than relational tables. NoSQL databases help solve a number of problems faced by modern applications. In particular, we are talking about systems that process a large amount of data from different sources, such as social networks, intelligent sensors, etc. All this disparate information does not quite fit into the relational model. The use of table structures can lead to redundancy, duplication of data and performance problems when scaling. In such a situation, it is advisable to use NoSQL.

NoSQL Data Base is widely used in real-time web applications, since their main advantages are good scalability and high availability. NoSQL databases can be used to create a wide range of high-performance mobile applications, [[Internet of Things (IoT services)|[[Internet of Things (IoT)|[[Internet of Things (IoT)|Internet of Things (IoT)]]]]]], games, etc. Several key benefits of NoSQL stand out.

Flexibility

In NoSQL databases, unlike SQL, data can be stored in a freer form without rigid schemas. This approach allows you to innovate and quickly develop applications. NoSQL databases are well suited to partially structured and unstructured data by using flexible data models.

Scalability

NoSQL Data Base is typically designed to scale using distributed hardware clusters rather than adding expensive servers. Some cloud service providers conduct these operations in the background, providing a fully managed service.

High performance

NoSQL databases are optimized for specific data models and access patterns. They provide fast and predictable response times.

Broad functionality

NoSQL Data Base is designed for distributed data stores that have extremely large information storage needs. NoSQL is suitable for real-time web applications, online stores, online games, the Internet of Things, social networks and online advertising services.

Among the key market players, analysts name Couchbase, Oracle, ScyllaDB, Riak, Aerospike, IBM, Objectivity, Neo4j, Apache Software Foundation and Progress Software. In terms of regional costs in the NoSQL area, North America leads, which in 2023 accounted for approximately $3.2 billion in revenue. One of the main drivers of the industry here is called data privacy and security. Europe is in second place in terms of costs: companies such as TIMi, QuerySurge, ScaleGrid, SolarWinds and Tibero are represented in the region. The Asia-Pacific region closes the top three, showing the fastest growth rates. The prevalence of unstructured or partially structured data is a key driver of NoSQL implementation.

According to Market Research Future analysts, spending in the NoSQL area will continue to increase rapidly in the future. The CAGR (compound percentage CAGR) is expected to be 28.5%. Thus, experts say, by 2032 the volume of the industry will reach $67.82 billion.^[1]

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