Dublin, Aug. 07, 2024 (GLOBE NEWSWIRE) -- The "Global In-Memory Analytics Market by Component (Service, Software), Application (Financial Management, Predictive Asset Management, Product & Process Management), Deployment Model, Organization Size, Industry Vertical - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The In-Memory Analytics Market grew from USD 2.84 billion in 2023 to USD 3.2 billion in 2024. It is expected to continue growing at a CAGR of 12.84%, reaching USD 6.63 billion by 2030. 
The increasing demand and adoption of real-time analytics and the rapid growth of big data have significantly contributed to the expansion of in-memory analytics. Furthermore, advancements in technology such as Artificial Intelligence (AI) and Machine Learning (ML) have resulted in greater integration with in-memory analytics systems. However, the high cost associated with implementing in-memory analytics systems can pose hurdles for businesses, particularly for SMEs. Data security and privacy concerns also present significant challenges. As data is stored in RAM, there are potential risks of unauthorized access or data loss in case of system failures. Major players are constantly investing in newer technologies and advancements to improve data privacy issues. Furthermore, the expansion of data centers across the world and the adoption of cloud computing technologies present huge opportunities for the in-market analytics space.
Market Insights
Market Drivers
- Rise in data volume and complex data structure in various industries
- Surge in adoption of cloud-based services and AI technologies worldwide
Market Restraints
- Lack of skilled personnel and high cost of implementation of in-memory analytics
Market Opportunities
- Technological advancements in in-memory analytics and integration with predictive analytics
- Expansion of data centers across the world
Market Challenges
- Concerns associated with data breach and data security
Market Segmentation Analysis
- Component: Increasing R&D to develop advanced software solution
- Deployment Model: Cloud deployment offering increased scalability and reduced upfront costs
- Organization Size: High investment from large enterprises to data-based decision making
- Industry Vertical: Rising deployment across manufacturing sector for decision-making and enhancing operational efficiency
Recent Developments
IBM Launches New Software to Break Down Data Silos and Streamline Planning and Analytics
IBM introduced IBM Business Analytics Enterprise, a comprehensive suite of business intelligence (BI), planning, budgeting, reporting, forecasting, and dashboard capabilities. This suite is designed to empower organizations in making data-driven decisions swiftly and effectively, while also enabling them to adapt to the ever-changing market conditions. One of the key components of this suite is Planning Analytics with Watson, which combines the power of advanced analytics with the cognitive capabilities of Watson. This integration allows businesses to gain deeper insights into their data and make more accurate forecasts and projections. Another significant addition to IBM Business Analytics Enterprise is Cognos Analytics with Watson. This advanced analytics tool leverages Watson's cognitive capabilities to deliver enhanced reporting and visualization capabilities, enabling users to uncover valuable insights from their data and communicate them more effectively. With IBM Business Analytics Enterprise, organizations can unlock the full potential of their data and leverage advanced analytics to drive better decision-making.
Exasol Reimagines In-Memory Analytics with Major Database Update
Exasol recently announced updates to its in-memory analytics database, addressing the growing need for elasticity and scalability. The system's architecture has been revamped to separate storage and computing, utilizing object storage for persistent data storage. This change reflects Exasol's dedication to providing a solution that eliminates the need for compromises between cost, efficiency, and flexibility. These enhancements reinforce Exasol's commitment to delivering a cutting-edge analytics platform that meets the evolving demands of businesses.
Oracle Enhances Comprehensive and Integrated Data and Analytics Services to Empower Business Users
Oracle Corporation unveiled new product innovations that empower customers to make faster and more informed decisions through in-memory analytics. These advancements include the Fusion Analytics platform, which now offers a wide range of over 2,000 best-practice key performance indicators (KPIs), dashboards, and reports. These tools enable organizations to effectively monitor their performance against strategic goals. Additionally, the Oracle Analytics Cloud (OAC) solution has been enhanced to boost user productivity by reducing reliance on IT and providing seamless access to curated data assets. Furthermore, the introduction of advanced composite visualizations facilitates easier interpretation of data while leveraging machine learning (ML) capabilities with OCI cognitive services, including AI Vision, which extends the ML capabilities. With these new offerings, Oracle continues to deliver cutting-edge solutions that empower businesses to achieve their data-driven objectives.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 191 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $3.2 Billion |
| Forecasted Market Value (USD) by 2030 | $6.63 Billion |
| Compound Annual Growth Rate | 12.8% |
| Regions Covered | Global |
Key Topics Covered:
1. Preface
2. Research Methodology
3. Executive Summary
4. Market Overview
5. Market Insights
5.1. Market Dynamics
5.1.1. Drivers
5.1.1.1. Rise in data volume and complex data structure in various industries
5.1.1.2. Surge in adoption of cloud-based services and AI technologies worldwide
5.1.2. Restraints
5.1.2.1. Lack of skilled personnel and high cost of implementation of in-memory analytics
5.1.3. Opportunities
5.1.3.1. Technological advancements in in-memory analytics and integration with predictive analytics
5.1.3.2. Expansion of data centers across the world
5.1.4. Challenges
5.1.4.1. Concerns associated with data breach and data security
5.2. Market Segmentation Analysis
5.2.1. Component: Increasing R&D to develop advanced software solution
5.2.2. Deployment Model: Cloud deployment offering increased scalability and reduced upfront costs
5.2.3. Organization Size: High investment from large enterprises to data-based decision making
5.2.4. Industry Vertical: Rising deployment across manufacturing sector for decision-making and enhancing operational efficiency
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis
6. In-Memory Analytics Market, by Component
6.1. Introduction
6.2. Service
6.3. Software
7. In-Memory Analytics Market, by Application
7.1. Introduction
7.2. Financial Management
7.3. Predictive Asset Management
7.4. Product & Process Management
7.5. Risk Management & Fraud Detection
7.6. Sales & Marketing Optimization
7.7. Supply Chain Optimization
8. In-Memory Analytics Market, by Deployment Model
8.1. Introduction
8.2. Cloud
8.3. On-premises
9. In-Memory Analytics Market, by Organization Size
9.1. Introduction
9.2. Large enterprises
9.3. Small & Medium-Sized Businesses
10. In-Memory Analytics Market, by Industry Vertical
10.1. Introduction
10.2. Banking, Financial Services, & Insurance
10.3. Energy & Utilities
10.4. Government & Defense
10.5. Healthcare & life sciences
10.6. Manufacturing
10.7. Media & Entertainment
10.8. Retail & eCommerce
10.9. Telecommunications & IT
10.10. Transportation & Logistics
11. Americas In-Memory Analytics Market
12. Asia-Pacific In-Memory Analytics Market
13. Europe, Middle East & Africa In-Memory Analytics Market
14. Competitive Landscape
14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
14.3.1. IBM Launches New Software to Break Down Data Silos and Streamline Planning and Analytics
14.3.2. Exasol Reimagines In-Memory Analytics with Major Database Update
14.3.3. Oracle Enhances Comprehensive and Integrated Data and Analytics Services to Empower Business Users
14.4. Strategy Analysis & Recommendation
15. Competitive Portfolio
- ActiveViam Group
- Advizor Solutions, Inc
- Aerospike, Inc.
- Altair Engineering Inc.
- Alteryx
- Amazon Web Services, Inc.
- Cisco Systems, Inc.
- Cloud Software Group, Inc.
- Dell Inc.
- Exasol AG
- GridGain Systems, Inc.
- Hitachi Vantara LLC
- InetSoft Technology Corp.
- Intel Corporation
- International Business Machines Corporation
- Microsoft Corporation
- MicroStrategy Incorporated
- Oracle Corporation
- PARIS Technologies International, Inc.
- QlikTech International AB
- SAP SE
- SAS Institute Inc.
- Snowflake Inc.
- Software AG
- TIBCO Software Inc.
For more information about this report visit https://www.researchandmarkets.com/r/86v4js
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