NoSQL market set to soar

coinA report on the global NoSQL market appears to indicate that by 2020 revenues will hit $4.2 billion.

Between 2014 and 2020, according to Allied Market Research, usage of NoSQL will register a compound annual growth rate of 35.1 percent.

Use of NoSQL both in web applications and data storage and analysis are the major driving forces. North America will represent two fifths of overall industry revenues by 2020.

But the Asia Pacific region is also set to generate serious revenues, growing at a CAGR of 41.3 percent during the same period.

Allied said that document databases are the most used application. Couchbase, MongoDB, Amazon and MarkLogic are signing partnerships.

The report said companies including MongoDB, Riak and Amazon are offering their NoSQL databases for download at no charge. Licences come later.