In this article, we will take a look at the 8 powerful alternatives to Elasticsearch. If you want to skip our detailed analysis, you can go directly to 5 Powerful Alternatives to Elasticsearch.
A Detailed Analysis of Elasticsearch
Elastic N.V. (NYSE:ESTC), formerly known as Elasticsearch, is an American Dutch company founded in the Netherlands and now headquartered in Mountain View, California. Elastic N.V. (NYSE:ESTC) is a vector database search engine enabling enterprise search, observability, security, elastic stack, and SaaS. The company stores and organizes data for companies for efficient searching and analysis. Some of the most prominent solutions by the company include log monitoring, infrastructure monitoring, threat hunting, search results optimization, and real user monitoring. The Elastic Cloud is a public cloud-managed service. The Standard plan is available for as low as $95 per month, the Gold plan is priced at $109 per month, the Platinum plan is priced at $125 per month, and the Enterprise plan is available for $175 per month. You can also take a look at the top big data analytics companies in 2023.
The company is making strides in integrating artificial intelligence. On November 16, 2023, Elastic N.V. (NYSE:ESTC) signed a strategic collaboration with AWS, Amazon.com, Inc.’s (NASDAQ:AMZN) cloud services business, to boost the development of generative artificial intelligence solutions. The two-year agreement will help customers advance the use of gen AI using Elastic Cloud on AWS. The Amazon Bedrock will be integrated into the Elastic AI Assistant. The two will integrate to provide users with more comprehensive and richer search results and improved conversational AI experiences. The first integration will focus on security use cases. The second integration will focus on observability use cases. Here are some comments from the company’s Q3 2024 earnings call:
“Our recent innovations including our AI assistance for observability and security are making it even more compelling for customers to move to our platform. This quarter, we closed several multi-million dollar deals where we displaced incumbent solutions for observability and security. Our value and our innovation is resonating across industries, as we continue helping customers save on their overall IT spend, while helping them gain even greater value from our innovations.”
The company is also committed to expanding its global reach through acquisitions and strategic partnerships. On November 30, 2023, Elastic N.V. (NYSE:ESTC) announced the acquisition of Opster. Opster is the company behind AutoOps. Opster will provide tools to manage and monitor Elasticsearch. The platform provides insights to not only fix issues but also prevent them from happening. Moreover, Opster aims to enhance the search performance and significantly reduce hardware costs over time. The company will continue to provide some free products from Opster to its customers.
Elastic N.V. (NYSE:ESTC) is gaining traction and is also exhibiting strong financial performance. On March 3, Elastic N.V. (NYSE:ESTC) reported earnings for the fiscal third quarter of 2024. The company reported earnings per share of $0.36, beating estimates by $0.04. The company also reported revenue worth $327.96 million during the quarter, ahead of market consensus by $7.16 million, with a year-over-year revenue growth rate of 19.45%. Here is what TimesSquare Capital Management said about Elastic N.V. (NYSE:ESTC) in its Q3 2023 investor letter:
“Across the Information Technology universe, we seek companies possessing differentiated capabilities, products, and services. Turning to positives, Elastic N.V. (NYSE:ESTC) is a data analytics company, engaged in open-source search and analytics engine services. Its shares jumped 27% on strong fiscal first quarter results with beats across billings, revenues, and earnings. Management noted they are benefiting from the trend of vendor consolidation.”
How is Algolia Leveraging AI to Compete with Elasticsearch?
Algolia is one of the largest competitors to Elasticsearch. Algolia was founded in 2012 and is a SaaS platform aimed at high-quality and relevant search results. At Algolia, users can implement APIs within minutes and control search results. Algolia helps users find answers as soon as possible. It can also be integrated with Adobe, .NET, Android, Angular, BigCommerce, Bubble, and CLI, to name a few. Algolia facilitates more than 1.7 trillion searches every year and has over 17,000 customers and 500,000 developers across 150 countries. It has over 30 billion indexed records with a 99.999% uptime SLA available. Algolia has an ROI of 382%. The Build plan offers up to 10,000 search requests per month and comes with 1 million records for free. The Grow plan is a “pay-as-you-go” plan. It is free for up to 10,000 searches per month and 100,000 records. The company charges $0.5 per additional 1,000 search requests and $0.4 per additional 1,000 records per month.
On January 15, Algolia launched a new data driven Merchandising Studio. The solution eliminates the need to manually merchandise categories and product landing pages. The new solution leverages AI to enhance the shopping experience among users by providing unparalleled recommendations tailored to personal preferences. The Merchandising Studio is available for e-commerce professionals, digital marketers, and merchandisers. The solution also comes with an enhanced revenue analytics feature. The feature helps companies assess the financial impact of their strategic decisions in the long and short run. It provides information such as average order value (AOV) and revenue per search or category. The Comparison Mode allows users to compare search results from queries side by side to identify the most optimal configurations. The image-based recommendations tool enables merchandisers to translate in-store experiences to their online shops.
On April 1, Algolia announced the launch of a groundbreaking generative AI tool, “Smelling Similar.” The tool is built to improve search results significantly. The AI combines three models to identify relationships between the smells of related products. Using its scent mapping algorithm, the AI tool connects unrelated scents to produce recommendations. For instance, the tool can draw a relationship between the smell of a new sports car and baseball mitts, or fresh cookies and fresh coffee. Such will help users receive better complementary recommendations. Organizations can also place thresholds for scent similarity based on their preferences.
Trends in the Data Search and Analytics Industry
Artificial intelligence holds a strong position in the data search and analytics industry. On January 4, Forbes reported that 88% of business executives claimed that investments in data and analytics were crucial to the success of a business. 63% hinted that investment in generative artificial intelligence was as important. In the last several years, the percentage of organizations transitioning to becoming data-driven organizations has doubled from a low to mid 20% range. The report highlights that investments in data and analytics have increased to 80% over the past several years, which may be attributed to the advent of generative AI. Most executives concur that AI has pushed organizations to instill a data-driven culture within their organizations. These executives believe AI can make predictions from existing data to improve employee and customer experiences alike. You can also read our piece on the most valuable data companies in the world.
Glean is an AI-backed enterprise search engine solution. Glean provides personalized answers based on the individual, their position in the company, and the task at hand. Using its Retrieval Augmented Generation (RAG) technology, Glean extracts the most relevant and up-to-date information to a question. Other than information retrieval, the solution ensures that all answers are secure and private. Glean only retrieves answers from information the individual is allowed to see. Glean also offers 100-plus connectors for data training and tuning, and a low-code and no-code centralized AI platform for generative artificial intelligence scaling. Organizations may get in touch with the Glean sales team to set up a package.
Now that we have discussed the data search industry, let’s discuss the 8 powerful alternatives to Elasticsearch. You can also take a look at the top Amazon Web Services alternatives in 2024.
8 Powerful Alternatives to Elasticsearch
Our Methodology
To come up with the 8 powerful alternatives to Elasticsearch, we employed a consensus approach. We consulted more than 10 rankings on the internet to aggregate the best alternatives to Elasticsearch. Of them, we picked items that appeared in 50% of our sources. We then ranked our items based on the total site visits in the past 28 days from Similarweb. Our list of the 8 powerful alternatives to Elasticsearch is in ascending order of the total site visits as of April 18, 2024.
8 Powerful Alternatives to Elasticsearch
8. Manticore Search
Total Site Visits as of April 18, 2024: 27,730
Manticore Search ranks eighth on our list of the most powerful alternatives to Elasticsearch. Manticore Search is an open source database search engine. The solution is known to have low response times and is built to process a large number of queries per second. It provides support for row-wise and columnar storage. Manticore Search has three plans for its ancillary services. The Community plan is free of cost. The plan offers free configuration review and public support on Forum, Slack, Telegram, and Github. The Standard and Enterprise plans offer faster consulting and performance tuning. Organizations may get in touch with the sales team of Manticore Search to decide on the best package and pricing.
7. Unleash.so
Total Site Visits as of April 18, 2024: 34,468
Unleash.so is backed by artificial intelligence. It facilitates easy access to data and information with its top-notch search capabilities. The solution is able to interpret queries, analyze relationships between words, and understand incomplete queries. It provides AI-generated responses from stored data. Users are also able to integrate the solution in Slack, Teams, and Zendesk to provide answers directly to team members. It also helps facilitate remote collaboration between teams and project managers. Unleash.so has over 34,000 site visits as of April 18, 2024.
6. Typesense
Total Site Visits as of April 18, 2024: 57,441
Typesense ranks sixth on our list of the most powerful alternatives to Elasticsearch in 2024. Typesense is a privacy-friendly open source search engine. Typesense Cloud has more than 3 billion searches per month, more than 17,000 GitHub Stars, and over 13 million Docker Pulls. Typesense is also tolerant of typing and spelling errors. The tool tries to make sense of spelling mistakes to retrieve relevant information for a query. It also offers geo, vector, and semantic search.
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Disclaimer: None. 8 Powerful Alternatives to Elasticsearch is originally published on Insider Monkey.