Global In Memory Computing Market-Segmented by Size, Component, Industry, and Geography-Growth, Trends, and Forecast (2018-2023)
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The global in-memory computing market was valued at USD 8.07 billion in 2017. The market is expected to register a CAGR of 17.37% during the forecast period.
The growing demand for effective and easy data access, coupled with increase in transactional and analytical needs across several industries, is influencing the market growth. The industry is influenced by technological developments and is slowly shifting from traditional disk-based to Dynamic Random Access Memory (DRAM)-based in-memory computing (IMC).
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Rising Need for Rapid Data Processing
Rising need for rapid data processing is expected to catalyze the industry growth over the forecast period. Increasing usage of mobile banking and internet services requires enormous amount of data processing, which is anticipated to provide avenues for industry growth.
As IMC processes a large amount of data in the main memory of the server, it aids in reducing the process execution time. Business of all sizes and across all industries can benefit from the cost savings obtainable through this.
Furthermore, it also allows organizations to run existing scenarios at faster computational speeds and cost effectively than traditional, on-disk technology. The technology boosts business insight, escalates efficiency, and reduces IT costs, thus providing a competitive advantage.
BFSI Sector is anticipated to have the Highest Growth Rate
The BFSI sector is anticipated to experience high growth potential, owing to the rising demand across the mobile and internet banking segments. BFSI sector is in a constant need to improve its operational performance in business areas, such as fraud reduction and risk management.
Additionally, the rise in analytical and transactional requirements for voluminous data and the ability to deliver the output of complex analysis and transactions in real-time, are the factors that are expected to result in the increased adoption of in-memory computing.
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Asia-Pacific is estimated to Grow at the Highest Growth Rate
Asia-Pacific is estimated to be the fastest-growing region, owing to the presence of countries, such as China, Japan, and India. The increased demand for big data and growing number of SME’s offers huge opportunities for growth in this region.
Increasing investment by several incumbent technology players are some of the factors driving the market in the APAC region.
The in-memory computing market is consolidated, with major players, such as IBM, SAP SE, Microsoft, Oracle, Altibase, and others. These players adopted various strategies, such as new product developments, in addition to collaborations and partnerships, and business expansions to accommodate the needs of the market.
The major market players have adopted acquisitions and integrations as major strategy to expand their market shares, security portfolio, and customer base.
Key Developments in the Market
- November 2017: Hewlett Packard Enterprise (HPE) launched HPE Superdome Flex. The company claims that it is the world’s most scalable and modular in-memory computing platform.
- October 2017: IBM researchers announced that their scientists demonstrated In-memory computing, with a million devices for applications in AI.
- May 2017: Hewlett Packard Enterprise and SAP collaborated for in-memory industrial IoT packages. This collaboration is expected to enable users to upgrade their operations and business models.
- April 2016: GridGain announced support offering for Apache Ignite, which included a license for the new GridGain In-Memory Data Fabric - Professional Edition 1.5, a fully supported version of Apache Ignite.
Reasons to Access this Report
- To know how the need for rapid data processing is expected to affect the growth of the global in-memory computing market.
- To analyze various perspectives of the market with the help of Porter’s five forces analysis
- To know how SME’s are dominating the market.
- To know about the regions that are expected to witness the fastest growth during the forecast period.
- To identify the latest developments, market shares, and strategies employed by major market players.
- Three months analyst support, along with the Market Estimate Sheet (in excel).
Customization of the Report
- This report can be customized to meet your requirements.
- IBM Corporation,
- SAP SE,
- Oracle Corporation,
- Microsoft Corporation,
- SAS Institute,
- NTT DATA Corporation,
- HCL Technologies Limited,
- Fujitsu Ltd,
- TIBCO Software Inc.,
- Software AG,
- GridGain Systems
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