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A vector database is a collection of data organized in a mathematical format. By storing information in the form of vectors, these databases facilitate the retrieval of previous inputs, enhancing their utility in applications such as search, recommendation systems, and text generation within machine learning models. Specifically designed for the handling of vector embeddings, these databases offer a robust solution for the management of semi-structured and unstructured data.

A vector databases come in various types, including relational, noSQL, and newSQL. Relational vector databases merge the principles of relational databases with vector or array-based data representation for efficient data management and retrieval. These databases are classified into solutions and services and find applications in diverse industries such as finance, healthcare, retail, manufacturing, telecommunications, government, energy, transportation, media, and more. These vector databases are utilized both on-premises and in the cloud by businesses across different sectors.

The vector database research report is one of a series of new reports from The Business Research Company that provides vector database market statistics, including the vector database industry's global market size, regional shares, competitors with a vector database market share, detailed vector database market segments, market trends and opportunities, and any further data you may need to thrive in the vector database industry. This vector database market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The vector database market size has grown exponentially in recent years. It will grow from $2.46 billion in 2024 to $3.04 billion in 2025 at a compound annual growth rate (CAGR) of 23.7%. The growth in the historic period can be attributed to geospatial data explosion, rise of location-based services (lbs), growing applications in smart cities, emergence of 5g network, demand for real-time spatial analytics.

The vector database market size is expected to see exponential growth in the next few years. It will grow to $7.13 billion in 2029 at a compound annual growth rate (CAGR) of 23.7%. The growth in the forecast period can be attributed to rise of digital mapping, telecommunication network planning, gps and satellite technology, environmental and natural resource management, transportation and logistics planning. Major trends in the forecast period include spatial analytics and business intelligence, integration with cloud services, real-time geospatial applications, smart infrastructure development, cross-industry collaboration.

The anticipated surge in the utilization of cloud platforms is projected to drive the growth of the vector database market in the foreseeable future. Cloud platforms function as the operating system and server components within an Internet-connected data center, facilitating the independent coexistence and scalable operation of hardware and software products. Vector databases deployed on cloud platforms enable efficient retrieval and storage of high-dimensional data, supporting real-time analytics, deep learning, and personalized content recommendations on adaptable and scalable infrastructure. As of December 2023, Eurostat reported a 42.5% adoption rate of cloud computing among EU enterprises, showcasing a 4.2% increase from 2021. This surge in cloud platform usage serves as a key driver for the vector database market.

Prominent companies in the vector database market are strategically focusing on integrating vector databases with advanced technologies such as AI vector similarity search to enhance generative AI and elevate developer productivity. AI vector similarity search involves employing AI algorithms to compare and identify similarities among vectors in a dataset. Notably, in September 2023, Oracle Corporation integrated semantic search capabilities using AI vectors into Oracle Database 23c. This feature set includes a novel vector data type, vector indexes, and vector search SQL operators, allowing the Oracle Database to store semantic information of various data types and swiftly execute resemblance queries. The AI vector similarity search in Oracle Database 23c facilitates accurate responses in real-time, enabling Retrieval Augmented Generation (RAG), a groundbreaking generative AI approach that utilizes large language models and proprietary corporate data to respond to natural language inquiries.

In February 2023, Progress Software Corporation, a leading US-based software company specializing in vector databases, completed the acquisition of MarkLogic for approximately $355 million. This strategic move aligns with Progress's commitment to bolster its portfolio with industry-leading solutions, adding valuable client connections from MarkLogic to its extensive customer base and contributing significantly to its revenue stream. MarkLogic, a US-based software company renowned for its NoSQL database, brings complementary strengths to Progress Software Corporation through this acquisition.

Major companies operating in the vector database market report are Google LLC (Alphabet Inc.), Microsoft Corporation, Amazon Web Services Inc., Alibaba Cloud, Elastic N.V., MongoDB Inc., FD Technologies PLC, DataStax Inc., Redis Ltd., Vector AI, GSI Technology Inc., Chroma DB, Vald, SingleStore, OpenSearch, Rockset Inc., PlanetScale, Kinetica DB Inc., Qdrant, ClickHouse Inc., Clarifai Inc., Pinecone Systems Inc., Vespa ai, Marqo AI, Activeloop, Zilliz, Milvus, S2Search Australia Pty Ltd., Weaviate

North America was the largest region in the vector database market in 2024 and is expected to be the fastest-growing region in the forecast period. The regions covered in the vector database market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the vector database market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The vector database market consists of revenues earned by entities by providing services such as data management, critical security features, fault tolerance, and a query engine. The market value includes the value of related goods sold by the service provider or included within the service offering. The vector database market also includes sales of graphics processing units, random-access memory, hard disk drives, solid-state drives, and central processing units. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Vector Database Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on vector database market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Where is the largest and fastest growing market for vector database ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The vector database market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.

Scope

Table of Contents

1. Executive Summary

2. Vector Database Market Characteristics

3. Vector Database Market Trends And Strategies

4. Vector Database Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Covid And Recovery On The Market

5. Global Vector Database Growth Analysis And Strategic Analysis Framework

6. Vector Database Market Segmentation

7. Vector Database Market Regional And Country Analysis

8. Asia-Pacific Vector Database Market

9. China Vector Database Market

10. India Vector Database Market

11. Japan Vector Database Market

12. Australia Vector Database Market

13. Indonesia Vector Database Market

14. South Korea Vector Database Market

15. Western Europe Vector Database Market

16. UK Vector Database Market

17. Germany Vector Database Market

18. France Vector Database Market

19. Italy Vector Database Market

20. Spain Vector Database Market

21. Eastern Europe Vector Database Market

22. Russia Vector Database Market

23. North America Vector Database Market

24. USA Vector Database Market

25. Canada Vector Database Market

26. South America Vector Database Market

27. Brazil Vector Database Market

28. Middle East Vector Database Market

29. Africa Vector Database Market

30. Vector Database Market Competitive Landscape And Company Profiles

31. Vector Database Market Other Major And Innovative Companies

32. Global Vector Database Market Competitive Benchmarking And Dashboard

33. Key Mergers And Acquisitions In The Vector Database Market

34. Recent Developments In The Vector Database Market

35. Vector Database Market High Potential Countries, Segments and Strategies

36. Appendix

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