In-Memory Computing Market Analysis
Market Research Future (MRFR) projects the global In-Memory Computing Market to grow at a significant pace from 2022 to 2030 (forecast period). The global in-memory computing market expected to reach USD 11.12 Billion and is poised to exhibit 4.22% CAGR from 2022 to 2030.
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Several factors are propelling the in-memory computing market growth. These drivers include the rising need for faster big data processing and analytics, as well as a decrease in the overall cost of RAM and TCO. The increased use of internet services and mobile banking has resulted in a rise in demand for huge data processing. Furthermore, a surge in the adoption of in-memory computing systems across multiple verticals leads to increased speed, performance, and scalability.
COVID-19 to Positively Impact the Global Market
The increasing pandemic crisis of COVID-19 over the world has had a significant impact on the in-memory computing market share. The worldwide economy has been severely impacted by the COVID-19 outbreak. The in-memory computing industry is expected to expand rapidly as a result of the growing requirement for rapid data processing and the explosion of big data across multiple verticals. This situation has demonstrated the global market's significant demand for in-memory computing technologies. In-memory computing technology is becoming increasingly popular in a variety of industries, including BFSI, IT and telecom, retail e-commerce, energy utilities, healthcare life sciences, 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 enhance the sales of in-memory computing firms operating in the global market. Furthermore, the leading companies in the in-memory computing industry, such as Microsoft, Oracle, SAP, IBM, and SAS Institute, are focusing on establishing new business models and strategies to meet global consumer demand.
In-Memory Computing Market Segmentation
The global in-memory computing industry has been segmented based on 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 divided into in-memory database (IMDB), in-memory data grid (IMDG), and data stream processing. The in-memory database (IMDB) segment has been further sub-classified into online analytical processing (OLAP) and online transaction processing (OLTP). The service segment has been split into professional services and managed services. The professional services segment has been further sub-segmented into consulting, system integration and implementation, support, and maintenance.
Based on application, the global in-memory computing market has been segmented into risk management and fraud detection, sales and marketing optimization, sentiment analysis, geospatial/GIS processing, predictive analysis, supply chain management, others. The other segment has been sub-segmented 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, transportation logistics, retail e-commerce, healthcare life sciences, government defense, energy utilities, media entertainment, and others. The other segment has been sub-segmented into education, manufacturing, and travel hospitality.
Regional Analysis
North America to Dominate the Global Market
North America dominated the in-memory computing market trends, followed by the Asia Pacific and Europe; this dominance is likely to continue till the conclusion of the forecast period. The growing need for analytics and advanced analytics platforms by small and medium businesses and government agencies in North America would fuel demand for IMC products. The presence of large solution providers such as Microsoft, Oracle, IBM, SAS Institute, MongoDB, TIBCO, Red Hat, Altibase, GigaSpaces, GridGain, Hazelcast, Qlik, Salesforce, Workday, Teradata, VoltDB, McObject, and MemSQL in the regional market is also accelerating the growth of the North American market.
Key Players
Notable players in the global in-memory computing industry are Microsoft (US), Software AG (Germany), Oracle (US), IBM (US), SAS Institute (US), GridGain (US), TIBCO (US), Fujitsu (Japan), Red Hat (US), Altibase (US), GigaSpaces (US), SAP (Germany), Hazelcast (US), MongoDB (US), Exasol (Germany), Intel (Germany), Kognitio (UK), Qlik (US), Salesforce (US), Workday (US), Teradata (US), Enea (Sweden), VoltDB (US), McObject (US), and MemSQL (US).
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Industry News
In July 2020, Microsoft launched the next edition of its Azure Stack HCI service. Microsoft is releasing a preview of Azure Stack HCI v2, which will allow users to run the service on their own servers and will provide built-in integration with Azure Arc, among other new features. The latest Azure Stack HCI iteration announced a new host OS separate from Windows Server that is developed exclusively to operate HCI and is integrated with Azure with hybrid by design.
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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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