As businesses accelerate big data project deployments, demand for NoSQL as the underlying engine is growing rapidly. In fact, the global NoSQL market will reach $4.2 billion by 2020, growing 35.1 percent annually along the way, according to Allied Market Research.

In some cases, businesses are migrating from traditional databases to NoSQL -- though many big data projects involve completely new installs that have no legacy databases in place.

For those exploring options, NoSQL has multiple approaches -- including key-value store, column-oriented store, document-oriented store, graph database and relational database. (Here are some tips for choosing the right NoSQL database.)

More NoSQL Market Trends

The key-value store approach should remain the most preferred type of NoSQL, due to its popularity for web applications, blogs, session management and e-commerce, Allied Market Research predicts in its report.

Document-oriented store is the next most attractive type of NoSQL, with its simple design and basic ability to support analytical queries, Allied Market Research asserts.

Key companies to watch include Aerospike, Basho Technologies, Cassandra, Couchbase, Hypertable, InfiniteGraph, MarkLogic, MongoDB and Neo4j, Allied Market Reearch added.

Moreover, most of the major cloud services providers -- including Amazon Web Services, Google Cloud Platform, IBM, Microsoft Azure and Rackspace -- offer some form of NoSQL as a service.

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