In-Memory Computing Market Opportunities And Strategies To 2030

Market Analysis

Market Research Future (MRFR) predicts the global In-Memory Computing Market to reach USD 25.1 billion at a CAGR of 12.60% from 2020–2027 (forecast period).

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In-memory computing refers to a type of purpose-built database that stores data in RAM in databases hosted on disks. IMC provides super-fast performance, allowing businesses to improve performance, analyze massive amounts of data in real-time at high speeds, and detect patterns. It provides real-time insights, allowing businesses to provide faster reporting as well as immediate actions and responses.

Several factors are propelling the in-memory computing market. These factors include rising demand for faster processing and analytics on big data, as well as a decrease in the total cost of RAM and TCO. The increased use of internet services and mobile banking has resulted in an increase in demand for large data processing. Furthermore, an increase in the adoption of in-memory computing platforms across numerous verticals results in increased speed, performance, and scalability. Nevertheless, the volatility of data and concerns about data security are factors impeding the growth of the in-memory computing market.

COVID-19 Impact on the Global In-Memory Computing Market

The increasing pandemic situation of COVID-19 worldwide has had a significant impact on the in-memory computing market. The COVID-19 pandemic has severely impacted the global economy. The in-memory computing market is expected to expand significantly as a result of the growing need for rapid data processing and the explosion of big data across multiple verticals. This scenario has demonstrated a strong demand for in-memory computing technology in the global market. In-memory computing technology is becoming increasingly popular in a variety of industries, including BFSI, IT and telecom, retail e-commerce, healthcare life sciences, energy utilities, transportation logistics, government defense, media entertainment, and manufacturing. During the COVID-19 pandemic, these factors contributed to an increase in demand for in-memory computing, which helped boost the revenues of in-memory computing companies active in the global market. Furthermore, the top players in the in-memory computing market, such as Microsoft, Oracle, SAP, IBM, and SAS Institute, are focusing on developing new business models and strategies to meet global consumer demand.

Market Segmentation:

The global in-memory computing market has been segmented into component, application, deployment mode, organization size, and vertical.

Based on the component, the global in-memory computing market has been segmented into solutions and services. The solution segment has been further split into the in-memory database (IMDB), in-memory data grid (IMDG), and data stream processing. The in-memory database (IMDB) segment has been further divided into online analytical processing (OLAP) and online transaction processing (OLTP). The service segment has been divided into professional services and managed services. The professional services segment has been further divided into consulting, system integration and implementation, support, and maintenance.

By application, the global in-memory computing market has been segmented into sales and marketing optimization, risk management and fraud detection, geospatial/GIS processing, sentiment analysis, predictive analysis, supply chain management, others. The other segment has been divided into image processing, route optimization, claim processing and modeling, and trade promotion simulations.

Based on deployment mode, the global in-memory computing market has been segmented into cloud and on-premises.

Based on organization size, the global in-memory computing market has been segmented into SMEs and large enterprises.

Based on vertical, the global in-memory computing market has been segmented into BFSI, IT telecom, government defense, retail e-commerce, healthcare life sciences, transportation logistics, energy utilities, media entertainment, and others. The other segment has been divided into education, manufacturing, and travel hospitality.

Regional Analysis:

Based on region, the global in-memory computing market has been segmented into Asia Pacific, North America, Europe, the Middle East Africa, and South America.

North America dominated the in-memory computing market, followed by Asia Pacific and Europe; this dominance is anticipated to remain until the end of the forecast period. The increasing demand for analytics and advanced analytics platforms by small and medium companies and government agencies in North America would drive demand for IMC products. The presence of significant solution providers like Microsoft, Oracle, IBM, Hazelcast, SAS Institute, TIBCO, Red Hat, Altibase, GigaSpaces, GridGain, MongoDB, Qlik, Salesforce, Workday, Teradata, VoltDB, McObject, and MemSQL in the regional market is also propelling the expansion of the North American market.

Key Players:

The key players in the global in-memory computing market are Microsoft (US), Oracle (US), Software AG (Germany), SAP (Germany), IBM (US), SAS Institute (US), TIBCO (US), Fujitsu (Japan), Red Hat (US), Altibase (US), GigaSpaces (US), Intel (Germany), GridGain (US), Hazelcast (US), MongoDB (US), Exasol (Germany), Qlik (US), Kognitio (UK), Salesforce (US), Workday (US), Teradata (US), Enea (Sweden), VoltDB (US), McObject (US), and MemSQL (US).

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Summary:

The global in-memory computing market is anticipated to reach USD 25.1 billion at a CAGR of 12.60% from 2020–2027 (forecast period). In-memory computing is a type of purpose-built database that stores data in RAM rather than on disks. IMC provides super-fast performance, enabling businesses to improve performance, analyze huge volumes of data in real-time at very high speeds, and detect patterns. It offers real insights, allowing businesses to provide faster reporting and immediate actions and responses.

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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. MRFR’s approach combines the proprietary information with various data sources to give an extensive understanding to the client about the latest key developments, expected events and also about what action to take based on these aspects.

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