Rising need for rapid data processing is expected to catalyze the in-memory computing industry growth over the forecast period. Increasing usage of mobile banking and internet services requires enormous amount of data processing, which is anticipated to provide avenues for industry growth. As IMC processes a large amount of data in the main memory of the server, it aids in reducing the process execution time. Business of all sizes and across all industries can benefit from the cost savings obtainable through this. Furthermore, it also allows organizations to run existing scenarios at faster computational speeds and cost effectively than traditional, on-disk technology. The technology boosts business insight, escalates efficiency, and reduces IT costs, thus providing a competitive advantage.
The global In-memory Computing market size is predicted to reach over USD XX billion by 2028. This can be ascribed to exponential growth of big data to improve machine-driven decision-making and decrease in the overall cost of RAM and TCO. It offers new opportunities for key players operating in the global In-memory Computing market. Besides, the increase in production with real-time and low-latency transaction processing is affecting the market in a positive manner.
However, lack of standards and increase in volatility of data are hampering the market growth. Furthermore, real-time analysis of data and growth in the need for parallel processing and columnar databases is likely to provide lucrative development opportunities for the In-memory computing market in the forthcoming years.
Key Segments of the Global In-memory Computing Market
Solution Overview, 2021-2028 (USD Million)
- In-memory Database
- Data Stream Processing
- In-memory Data Grid
Deployment Mode Overview, 2021-2028 (USD Million)
Application Overview, 2021-2028 (USD Million)
- GIS Processing
- Predictive Analytics
- Sales & Marketing
- Sentiment Analysis
- Supply Chain Management
- Risk Management & Fraud Detection
End Use Overview, 2021-2028 (USD Million)
- IT & Telecom
- Transportation and Logistics
- Energy & Utilities
- Retail & e-commerce
Regional Overview, 2021-2028 (USD Million)
- North America
- Asia Pacific
- South Korea
- Middle East and Africa (MEA)
- Saudi Arab
- South Africa
- South America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global in-memory computing market. Benchmark yourself against the rest of the market.
- Ensure you remain competitive as innovations by existing key players to boost the market.
What does the report include?
- The study on the global In-memory Computing market includes qualitative factors such as drivers, restraints, and opportunities
- The study covers the competitive landscape of existing/prospective players in the In-memory Computing market industry and their strategic initiatives for product development.
- The study covers a qualitative and quantitative analysis of the market segmented based on Solution, Deployment, Application, and End User. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
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- This study is suitable for industry participants and stakeholders in the global in-memory computing market. The report will benefit every stakeholder involved in the in-memory computing market.
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In-Memory Computing (IMC) can be defined as the storage of data in the main RAM (Random Access Memory) of the server, in contrast to complicated relational databases that are operating on slow disk drives. In-Memory Computing facilitates users to analyze massive data volumes at quicker and overall reduce the latency of storage. In-Memory Computing affects several processes such as integration, enabling faster decision making, and cost reduction. Thereby allowing for leveraging big data possible. In-Memory Computing essentially refers to moving data which has traditionally been stored on hard discs into main memory. By storing the data in the main memory, the latency of processing is reduced dramatically.
There are various factors that are benefitting the growth of the In-Memory Computing Market. These factors include the exponential growth of big data and the improved performance of the analysis. Another factor that is positively affecting the In-Memory Computing market is the reduction in the cost of RAM in the market. Restraining factors to the growth of the overall In-Memory Computing Market is the volatility of data and the concerns regarding the security of the data.
However, the market is expected to become fragmented in the forthcoming years as several new market players are emerging from developing countries such as India, Japan, China, and other countries.
Based on the solution, the market is classified into in-memory database, data stream processing, and in-memory data grid. The in-memory database is expected to grow significantly in terms of revenue during the forecast period. This is attributed to increasing adoption of in-memory database solutions to improve performance and scalability and develop real-time applications.
Deployment Type Segment
In terms of the deployment type, the market is bifurcated into on-premise and cloud. The on-premise segment is expected to grow significantly in the forecast period because of the increase in the implementation of on-premise based in-memory computing across various industries to provide data security.
Based on the application, the market is segmented into GIS processing, predictive analytics, sales & marketing, sentiment analysis, supply chain management, risk management & fraud detection, and others. The risk management & fraud detection segment is expected to generate highest revenue in the forecasting period due to the increasing need for improving risk intelligence abilities to combat risk exposure in organizations.
End User Segment
Based on the end use, the market is segmented into government, it & telecom, healthcare, bfsi, transportation and logistics, energy & utilities, retail & e-commerce, and others. The BFSI is expected to lead in terms of revenue in the forecast period due to the rising adoption of in-memory computing system for various application such as risk management & fraud detection, predictive analysis, sales & marketing in BFSI sector.
North America is likely to gather noteworthy growth through the forecast years 2021-2028. The growth of the in-memory computing market in this region is mostly ascribed to the increasing application of predictive analytics using in-memory computing by small and medium enterprises and government entities in the country in this region. However, the growth in Asia Pacific region is likely due to increasing deployment of in-memory computing systems across SMEs for advanced analytics in countries in this region.
The major players of the global In-memory Computing Market are Microsoft Corporation, Oracle Cprporation, SAP SE, IBM Corporation, TIBCO Software Inc., Intel Corporation, MongoDB Inc., Giga Space Technologies Inc., Grid Gain System, Teradata Corporation, Altibase, HCL Technologies Limited, ScaleOut Software, Exasol, and NTT Data Corporation. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic solutions and to remain competitive in the global market.