New York, US, July 27, 2021 (GLOBE NEWSWIRE) -- Market Overview:
According to a comprehensive research report by Market Research Future (MRFR), “Global In-Memory Computing Market information by Deployment Mode, by Components, by Application and Vertical – forecast to 2027” market size to grow approx. 25.1 BN by 2026, at a 12.60% CAGR.
Market Scope:
In-memory computing solutions have transformed business operations with fast, integrated intelligence. These solutions have proven effective in low response time in sectors, such as mobile advertising networks and telecommunications network equipment. As enterprises go through digital transformation, such as embracing and leveraging various new data types and forms, the market garners significant traction witnessing substantial demand.
The increasing adoption of in-memory computing technology in various verticals such as aerospace & defense, BFSI, manufacturing, media & entertainment, healthcare, government, retail, and IT & telecommunication fosters market growth. On the other hand, concerns such as data volatility and data security are major factors impeding the growth of the in-memory computing market. Increase in the adoption of in-memory computing platforms across various verticals to drive speed, performance, and scalability positively impacts the market growth.
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Dominant Key Players In-Memory Computing Market Covered Are:
- Oracle (US)
- Microsoft (US)
- SAP (Germany)
- SAS Institute (US)
- IBM (US)
- TIBCO (US)
- Fujitsu (Japan)
- Software AG (Germany)
- Red Hat (US)
- GigaSpaces (US)
- Altibase (US)
- GridGain (US)
- MongoDB (US)
- Hazelcast (US)
- Exasol (Germany)
- Qlik (US)
- Intel (Germany)
- Salesforce (US)
- Teradata (US)
- Workday (US)
- Kognitio (UK)
- VoltDB (US)
- Enea (Sweden)
- MemSQL (US)
- McObject (US)
Browse In-depth Market Research Report (141 Pages) on In-Memory Computing:
https://www.marketresearchfuture.com/reports/in-memory-computing-market-10383
Market USP Exclusively Encompassed:
Market Drivers
In-memory computing is a type of middleware software that allows storing the data in a single RAM within a cluster of computers and also processing it simultaneously. RAM is roughly 5,000 times faster than a traditional spinning disk. Adding the mix native to the system supports rapid parallel processing. In-short, RAM storage and parallel distributed processing are two fundamental pillars of in-memory computing.
Various factors driving the in-memory computing market growth include the increasing demand for faster processing and analytics on big data at a lower overall cost of RAM and TCO. Besides, increasing uses of the internet and mobile banking services have ensured large data processing demand.
Segmentation of Market covered in the research:
The in-memory computing market forecast is segmented into component, application, deployment mode, organization size, vertical, and region.
The component segment is sub-segmented into solutions and services. The solution sub-segment is further bifurcated into in-memory database (IMDB), in-memory data grid (IMDG), and data stream processing. The in-memory database (IMDB) segment is further divided into online analytical processing (OLAP) and online transaction processing (OLTP).
The service sub-segment is further bifurcated into professional services and managed services. The professional services segment is further divided into consulting, system integration & implementation, support, and maintenance.
The application segment is sub-segmented into risk management & fraud detection, sentiment analysis, geospatial/GIS processing, sales & marketing optimization, predictive analysis, supply chain management, others. The other sub-segment is further bifurcated into image processing, route optimization, claim processing & modeling, and trade promotion simulations.
The deployment mode segment is sub-segmented into cloud and on-premises. The organization size segment sub-segmented into SMEs and large enterprises. The vertical segment is sub-segmented into BFSI, IT & telecom, retail & e-commerce, healthcare & life sciences, transportation & logistics, government & defense, energy & utilities, media & entertainment, and others. The other sub-segment is further bifurcated into education, manufacturing, and travel & hospitality.
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Regional Segmentation
North America is estimated to remain dominant in the global in-memory computing market. The largest market share attributes to the growing demand for analytics and advanced analytics platforms. The presence of major solution providers, such as Oracle, Microsoft, IBM, and Hazelcast, positively impacts the region’s in-memory computing market share. The North American in-memory computing market is expected to continue with its dominance throughout the forecast period.
Europe holds the second-best position globally in terms of in-memory computing market revenue. The market growth is boosted by the rising adoption and the spurring rise in banking & finance and healthcare sectors in the region. Additionally, the increasing adoption of on-premises and on-cloud database infrastructure across SMEs and larger enterprises boosts the in-memory database industry in the region.
The Asia Pacific is witnessing a spurring rise in the in-memory computing market value. Factors such as the growing manufacturing and BFSI sectors in the region foster the in-memory computing market size. Growing investments in the development of computing technology 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, boost the region’s in-memory computing market share. The APAC in-memory computing market is projected to grow at the highest CAGR during the assessment period.
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COVID-19 Impact on the Global In-Memory Computing Market
The in-memory computing market was significantly influenced by the COVID-19 crises across the world. The pandemic caused major revenue losses to most of the industries. However, the need for rapid data processing and big data across various verticals increased hugely.
This scenario presented several opportunities for the market increasing the demand for in-memory computing technology globally. The in-memory computing market is estimated to grow further significantly during the assessment period.
Industry Trends
The augmented adoption of cloud computing across small, medium, and large organizations escalates market growth. Increasing investments to develop new methods that can significantly increase the computing power contributes to the growth of the market. Furthermore, increasing application areas and wide uptake of in-memory computing would support the market growth throughout the assessment period.
Competitive Analysis:
The in-memory computing market is estimated to witness several strategic partnerships taking place, alongside other strategic initiatives such as expansion, collaboration, mergers & acquisitions, and product & technology launches. Leading industry players make strategic investments in research and development activities and fostering their expansion plans.
For instance, recently, on Feb.03, 2021, Hazelcast, a leading cloud application platform, announced the extension of an in-memory digital integration hub to the cloud. The company released an update to its stream processing engine - Hazelcast Jet, simplifying the migration to hybrid cloud environments. The updated Hazelcast Jet is added with Amazon Kinesis connector for out-of-the-box integrations with the leading messaging bus on Amazon Web Services (AWS).
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