Market Analysis
The global in-memory computing market
will grow at a healthy CAGR in the forecast period (2020- 2027), states the
latest Market Research Future (MRFR) report.
Drivers
Exponential Growth of Big
Data to Boost Market Growth
The exponential growth of big data for
improving machine-driven decision-making will boost market growth over the
forecast period.
Opportunities
Emergence of ML and AI Based
Technologies for Gaining Real-Time Actionable Customer Insights to offer Robust
Opportunities
Following the advent of emerging
technologies like ML and AI, companies are witnessing massive opportunities as
they offer real-time insights with in-built automation. In-memory solutions
with the artificial technology can automatically capture complete
agent-customer interactions to offer hidden insights and opportunities.
Restraints and
Challenges
Data Security Concerns to
act as Market Restraint
Data security concerns, incompetence to
develop BI applications, lack of standards, increasing volatility of data,
complexity involved in data extraction, and lack of skilled workforce may act
as market restraint over the forecast period.
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COVID-19 Analysis
The in-memory computing market
is influenced due to the increasing pandemic situation of COVID-19 across the
world. The pandemic has possessed a serious effect on the global economy. The
market is likely to develop rapidly owing to the increasing need for rapid data
processing and the explosion of big data across various verticals. This
scenario has showcased a strong need for in-memory computing technology in the
global market. The increasing need for in-memory computing technology in
different verticals include manufacturing, media and entertainment, energy and
utilities, government and defense, transportation and logistics, healthcare and
life sciences, retail and e-commerce, IT and telecom, and BFSI are adding to
the market growth. Such factors have created an increase in demand for in-memory
computing during the COVID-19 pandemic that helped boost the revenues of
in-memory computing companies operating in the global market. Besides, the top
players the market is also focused on developing new business models and
strategies for meeting consumer demand in the market.
Market Segmentation
The global in-memory computing market is
segmented based on vertical, organization size, deployment mode, application,
and component.
By component, the IMDB segment will lead
the market over the forecast period for the increasing need for boosting
performance and scalability, and developing real-time applications.
By application, the risk management and
fraud detection segment will dominate the market over the forecast period for
the need of organizations to keenly focus on the improvement of their risk
intelligence capabilities to fight risk exposures.
By deployment mode, the cloud deployment
segment will spearhead the market over the forecast period as this offers
advantages like low maintenance costs, low installation costs, and pay per use.
By organization size, the SMEs will have
the lions share in the market over the forecast period for the growing number
of SMEs and increasing need for big data.
By vertical, the BFSI segment will
command the market over the forecast period for the increasing use of mobile
and internet banking.
Regional Analysis
North America to Command
In-Memory Computing Market
North America will command this market
in the forecast period. Growing need for analytics and advanced analytics
platforms by small and medium businesses and government agencies, and the
presence of major solution providers are adding to the global in-memory
computing market growth in the region.
Key Players
Industry players profiled in the global
in-memory computing market report include Microsoft (US), Oracle (US), SAP
(Germany), IBM (US), SAS Institute (US), TIBCO (US), Software AG (Germany),
Fujitsu (Japan), Red Hat (US), Altibase (US), GigaSpaces (US), GridGain (US),
Hazelcast (US), MongoDB (US), Exasol (Germany), Intel (Germany), Qlik (US),
Salesforce (US), Workday (US), Teradata (US), Kognitio (UK), Enea (Sweden),
VoltDB (US), McObject (US), and MemSQL (US).
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In-Memory Database Market Research Report: Information by
Technology (Hall Effect, Magneto Resistive, Variable Reluctance), By
Application (Automotive, Industrial, Aerospace & Defense, Consumer
Electronics) and Region (North America, Europe, Asia-Pacific, Middle East &
Africa, and South America)—Forecast till 2030
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