Overview
The global in-memory
database market is growing continually, witnessing the rising adoption of IMDB
systems. In-memory database solutions have transformed business operations with
fast, integrated intelligence. Unlike traditional row-oriented storage, columnar
storage that IMBD systems offer helps optimizing analytics with great
compression advantages, storing much more data in much less memory.
Resultantly, IMDBs has
proven to be a practical solution for low response time in sectors, such as
mobile advertising networks and telecommunications network equipment.
According to Market Research Future (MRFR), the global IMDB
Market Size is projected to grow at a whopping double-digit CAGR of 19%
throughout the review period (2017-2023).
The market is undergoing
a significant change as enterprises go through digital transformation,
including embracing and leveraging various new data types and forms. With its
proven efficacies, IMDB systems are adopted in various verticals such as
aerospace & defense, BFSI, manufacturing, media & entertainment,
healthcare, government, retail, and IT & telecommunication.
Additionally, the
augmented adoption of cloud computing across small, medium, and large
organizations escalates market growth. On the other hand, the prerequisite of
IMDBs that all data must fit in memory are major factors forecasted to impede
the market growth, prompting the need to increase the adequate memory or limit
the size of the database. Nevertheless, increasing application areas and wide
uptake of cloud computing would support the market growth throughout the
assessment period.
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Global
In-Memory Database Market - Segments
The report is segmented
into five dynamics;
By Data Type : Comprises
NoSQL, NewSQL, and Relational.
By Processing Type:
OLAP
(Online Analytical Processing), OLTP (Online Transaction Processing), and
others.
By Deployment Mode:
On-demand,
On-Premise, and On-Cloud.
By Organization
Sizes: Small-to-Medium (SMEs)
and Large Enterprises.
By Vertical :
BFSI, Aerospace & Defence, Manufacturing, Healthcare, Media &
Entertainment, Government, Retail, IT & Telecommunication, and
others.
In-Memory
Database (IMDB) Market - Geographical Analysis
North America dominates
the global in-memory database market. The largest market share attributes to
the growing demand for advanced IMDB systems and technical expertise rendered
by existing market players in the region. Besides, the convenience of faster
transfer of files & the large storage capacity that IMDB systems offer
drives the growth of the regional market.
The growing IT industry
and high deployment of cloud computing by the middle and large enterprises
support the regional market growth. Moreover, rising contributions from growing
markets in the US & Canada lead the regional market demand. The North
American IMDB market is projected to retain its dominance throughout the estimated
period.
Europe stands second in
the global in-memory database market. The market growth is driven by the high
growth of banking & financial and healthcare sectors in the region.
Additionally, the increasing adoption of on-premises and on cloud database
infrastructure across the SMEs and larger enterprises boost the growth of the
in-memory database industry in the region.
The Asia Pacific
in-memory database market is growing rapidly. Factors such as the growing
manufacturing and BFSI sectors in the region influence the growth of the IMDB
market. Growing investments in the development of efficient IMDB systems foster
the growth of the regional market. Furthermore, initiatives taken towards
promoting digitalization and emerging technologies, such as mobility, IoT,
Business Intelligence (BI), cloud, and analytics, propel the regional market
growth.
Also, the presence of
prominent market players with the ability to provide outsourcing service in
real-time intelligence and advanced predictive analytics on different applications
influence the regional market growth.
Global IMDB Market - Competitive Landscape
Highly competitive, the
global in-memory database market appears to be fragmented due to the presence
of several well-established market players. To gain a larger competitive share,
industry players incorporate strategic initiatives such as mergers &
acquisitions, collaborations, expansions, and product/technology launch.
Major Players:
Players leading the
global IMDB market include IBM Corporation (US), Oracle Corporation (US),
Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US),
Tableau Software (US), Amazon Web Services (US), Kognitio Ltd. (UK), Datastax
(US), VoltDB (US), ENEA (Sweden), Altibase Corporation (US), and McObject LLC
(US), among others.
Industry/ Innovation/
Related News:
July 22, 2020 ---- GridGain
Systems (the US), a leading provider of enterprise-grade in-memory computing
solutions, announced a strategic partnership with Tech Mahindra (India), a
leading provider of digital transformation consulting and business
reengineering services & solutions.
The integration of
GridGain’s technologies into Tech Mahindra’s solutions would help customers
manage surging application loads caused by increasing customer traffic, the
launch of new services, and seasonal traffic spikes. GridGain solutions would
also power the digital integration hub (DIH) architectures serving as a
high-performance data access layer that integrates multiple applications and
databases.
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