Newark, NJ, November 2, 2021 (GLOBE NEWSWIRE) – According to report released by Fior Markets global in-memory computing market is projected to increase from $ 11.47 billion in 2020 to $ 41.53 billion by 2028, at a CAGR of 17.45% over the forecast period 2021-2028.
Certain factors are driving the global In-Memory Computing market to grow. Some of these are the increasing adoption of the cloud and IoT, the increasing use of the Internet, the increasing need for fast data processing and the explosion of big data in various industries, as well as the growing trend towards increasing RAM size. In addition, in order to maintain a competitive advantage and meet the requirements for the optimal consumer experience in the current scenario, companies are looking for solutions to deal with the constant increase in the data available and the never-ending demands for better and faster performance. This encourages the development of in-memory computing technologies.
In-memory computing means that middleware software is used to store data about a computer cluster in RAM and process them in parallel. The advantage of in-memory computing is the ability to regularly cache an infinite amount of data. This ensures a quick response time for the exploration. Another benefit of in-memory computing is the ability to process events for improved sophisticated event handling. The RAM memory and the parallel distributed processing are the two pillars of in-memory computing.
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The global In-Memory Computing market is expected to see significant growth due to the increasing need for faster processing and analysis of big data. Additionally, the increasing adoption of machine learning (ML) and artificial intelligence (AI) based technologies for generating actionable real-time consumer insights is expected to fuel the growth of the In-Memory Computing market over the forecast period. That being said, the increasing need to standardize transactional and analytical processing for real-time insights and closed-loop analytics is expected to further fuel the growth of the in-memory computing market. The lack of qualified specialists to operate in-memory computing systems and concerns about data extraction are expected to slow market growth. In addition, to build a BI tool using the BI platform, a person needs analytical skills, technical skills, and critical thinking. Several end-user verticals do not have enough staff with these specific knowledge and analytical skills. As a result, an analytics capacity gap required to build a complex BI solution is one of the major challenges most end-user organizations face in the in-memory computing market.
Key players in the in-memory computing market include Gridgrain Systems, IBM, Oracle, SAP SE, Microsoft, ScaleOut Software, TIBCO, Software AG, Gigaspaces, Red Hat, Altibase, Fujitsu and Hazelcast. In order to gain significant market share in the In-Memory Computing market, the main players are now focused on introducing product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships. TIBCO Company is a major manufacturer in the in-memory computing market.
- In May 2019, for example, TIBCO acquired SnappyData, a provider of a Spark-based data program. The acquisition is designed to enable data researchers to explore new, larger data sets with a highly scalable, high-speed in-memory data shop.
The small and medium-sized business segment dominated the market and held the largest market share in 2020 at 56.28%.
Based on company size, the global In-Memory Computing market is segmented into large companies and small and medium sized companies. The small and medium-sized business segment dominated the market and held the largest market share in 2020 at 56.28%. This growth is attributed to the growing number of SMEs.
The cloud segment dominated the market and held the largest market share in 2020 with 58.10%.
Based on the deployment mode, the global In-Memory Computing market is divided into On-Premises and Cloud. The cloud segment dominated the market and held the largest market share at 58.10% in 2020. This growth is attributed to the increasing acceptance of cloud-based in-memory computing in several industries due to better reliability and faster data exchange.
The Risk Management & Fraud Detection segment dominated the market and held the largest market share in 2020 with 27.20%.
Depending on the application, the global In-Memory Computing market is divided into sentiment analysis, risk management and fraud detection, sales and marketing optimization, spatial data / GIS processing, and predictive analysis. The risk management and fraud detection segment dominated the market and held the largest market share in 2020 with 27.20%. This growth is due to the need for companies to focus heavily on improving their risk intelligence skills to combat risk.
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The BFSI segment dominated the market, holding the largest market share of 230.38% in 2020.
Based on the vertical, the global In-Memory Computing market is segmented into BFSI, Transportation, Government, Retail, Healthcare, and others. The BFSI segment dominated the market and held the largest market share of 23.38% in 2020. This growth is attributed to the increasing use of mobile & internet banking.
Regional segment analysis of the in-memory computing market
- North America (USA, Canada, Mexico)
- Europe (Germany, France, Great Britain, Italy, Russia, rest of Europe)
- Asia Pacific (China, Japan, India, rest of APAC)
- Latin America (Brazil, Argentina)
- Middle East and Africa (South Africa, United Arab Emirates, Saudi Arabia, and the rest of MEA)
Geographically, the in-memory computing market has been divided into North America, Europe, Latin America, the Asia-Pacific region, and the Middle East and Africa. The North America region holds the largest market share of 26.39% in 2020. This growth is attributed to the increasing use of predictive analytics using in-memory computing by SMEs and government agencies in the countries of the region. On the other hand, Asia Pacific is experiencing significant growth due to the adoption of IMC technology in various industries such as retail and manufacturing. In addition, the increasing adoption of IoT and cloud as well as increasing web usage are expected to show significant growth in the forecast period. In addition, increasing investment by various established technology companies is one of the factors driving the market in the APAC region.
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About the report
The Global In-Memory Computing Market is analyzed by Value (USD Billion). All segments were analyzed worldwide, regionally and by country. The study includes the analysis of more than 30 countries for each piece. The report offers an in-depth analysis of the driving factors, opportunities, restraints, and challenges to provide vital insights into the market. The study includes Porter’s five forces model, an attractiveness analysis, a raw material analysis and an analysis of the competitive position grid.
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Fior Markets is a futuristic market intelligence company that helps clients develop their business strategies and make better decisions with actionable information. With a transparent information pool, we meet the goals of the customers, commitments at a high level and target potential interested parties for SWOT analyzes and market research reports. Fior Markets provides a wide range of regional and global market research reports, including industries such as technology, pharmaceuticals, consumer products, food and beverage, chemicals, media, materials, and many others. Our Strategic Intelligence capabilities have been purposely designed to help your business grow and to showcase the dynamics of different industries. We hold excellent units of highly qualified analysts and consultants according to their respective domains. The global market research reports we provide include both qualitative and quantitative analysis of the current market scenario according to the separate geographic regions and comprehensive performance in different regions with global approach. Additionally, our syndicated research reports provide a compact guide to keep companies up to date on the upcoming big redesign in their areas. Fior Markets supports clients with research analyzes that are precisely tailored to their requirements, specifications and challenges, be it comprehensive desk research, surveys, the compilation of several methods, detailed interviews or competitive intelligence. Our research experts are experienced in tailoring staff and methodology to meet your business needs.
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