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 IMDB Market Size 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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