The technological advancement in computational power, volume data, and digital transformation of the business using real-time analytics are prime drivers of the in-memory analytics market.
Memory analytics is a strategic method tool that is used to solve complex and time-sensitive business problems. It works by increasing the speed, performance, and reliability while fetching the data from database.
The need to have a deep insight to increase revenue and peruse a new product innovation is creating the need for in-memory analytics among enterprises.
Growing adoption of strategic planning tools across the organizations has also driven the growth of in-memory analytics market.
The management and maintenance of data quality across the organizations and lack of end user skills of the employee to develop the strategic application of in-memory analytics are prominent challenges in front of the market. Further, the lack of awareness of strategic planning tools across the organizations limits the adoption of in-memory analytics.
The significant decline in the cost of data storage hardware and cloud based integration of strategic planning tools has created many opportunities in the in-memory analytics market.
The market is fragmented with the presence of a significant number of key vendors. The key players are trying to acquire regional players to increase their market reach and mark their presence in the in-memory analytics market.
The key vendors are trying to get a competitive edge over others via technological innovation. For instance, MicroStrategy Incorporated launched MicroStrategy 10.5 in September 2016, which has new features such as cloud support, improved visualization, and mobile device support.
The market is segmented by component, application, deployment type, organization size, industry vertical, and region. By component, it is further divided into software and services.
The in-memory analytics market by application includes risk management & fraud detection, sales & marketing optimization, financial management, supply chain optimization, predictive asset management, product & process management, and other application categories. Based on deployment type the market is segmented into cloud and on-premises deployment.
Based on organization size, the market is segmented into large and small & medium. Based on industry vertical, the global in-memory analytics market is segmented into banking, financial, and insurance (BFSI), aerospace & defense, healthcare, public sector, IT & telecom, retail, and others.
The market segmentation on the basis of geography includes North America, Europe, Asia-Pacific, and LAMEA.
Comprehensive analysis and profiles of the major market players such as SAP SE., Microstrategy Incorporated, Kognitio Ltd., SAS Institute, Inc., Hitachi, Ltd., Oracle Corporation, IBM Corporation, Information Builders, Inc., Software AG USA Inc., and Amazon Web Services Inc., are also provided in this report.
In Memory Analytics Market Key Segments: By Component
- Managed Services
- Professional Services
- Support and Maintenance
- Risk Management & Fraud Detection
- Sales & Marketing Optimization
- Financial Management
- Supply Chain Optimization
- Predictive Asset Management
- Product & Process Management
By Deployment type
- Network Security
- Web Security
- Email Security
- Database and Cloud Security
By Organization Size
- Small and Medium Scale
- Large Scale
By Industry Verticals
- Banking, Financial Services, and Insurance
- Aerospace & Defence
- Public Sector
- IT & Telecom
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East
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