ID: MRFR/ICT/3453-HCR | February 2021 | Region: Global | 100 pages
An in-memory database is known as the technology that stores the data either fully or practically in the memory of servers that are either single or distributed. This technology helps in keeping the full database in the system’s memory of the system. The technology renders its support to the workloads of different kinds namely transactional, analytical, along with operational ones. Also, this technology is known to help reduce data latency that further, has a role to play in data extraction and processing in real-time. Also, the huge amount of big data is on the generation mode for various industry vertices functioning across the globe. Also, world geographies are witnessing the need for data analysis in real-time. This is being fulfilled by the in-memory database solutions. The main reason behind choosing these solutions is that they provide quick access to data and proper processing.
Owing to this, the global in-memory database market is expected to grow at a CAGR of 19% by the end of the global forecast period in 2023.
COVID 19 Analysis
The pandemic has accelerated a huge change in the way data is collected, perceived, interpreted, and analyzed. During the pandemic, not only the data collection was difficult but there was a huge question for the markets and their functioning because of the lockdown and functional restrictions. Also, the unavailability of labor and raw materials is creating issues to meet the market demand and is thus, disrupting the supply chain mechanism. There is a major requirement for the market to enhance its visibility by adopting measures and developing portfolios for the target audience.
The government and the key market players are investing in the product development and portfolio that will help in processing and extracting data based in real-time. Also, this data will then be available full-time for accessibility and processing.
The global in-memory database market is expected to show tremendous growth by the end of the global forecast period of 2017-2023. The availability of data that can be put to use across various industry vertices as per their preference is one of the major reasons for the massive demand for the market and its solutions on a global scale. Also, the ability of faster data professing is impressive and likely to make a difference in the way data is generated and put to use. The RAM prices are falling and their likeability for the same in the future will act as a major market driver for growth during the forecast period of 2017-2023.
Owing to the growth opportunities available, some market restraints need to be dealt with as well. The data extraction and storing process for the market is exposed to market restraints like constraints related to the availability of space along with the lack of standardization in the global market by the end of the forecast period in 2023.
To meet the expected market valuation and reach the predicted market valuation by the end of the forecast period in 2023 the market has challenges in the way. From the volatile nature of memory to concerns related to the breach of data and emerging as harm for data security the market needs to overcome a lot of hurdles.
Value Chain Analysis
The global rendering software market research report makes use of the non-embedded applications that require exceptional performance. These render a lot of growth opportunities that are efficient for the market in the long run. Also, the emergence of hybrid transactional and analytical processing (HTAP) has a lot of positive attributes for the market during the current forecast period ending in 2023. Also, the market helps in increase the demand related to real-time processing which will benefit the target audience in the long run.
In-Memory Database Market
The market has been divided all across the globe based on application, data type, deployment mode, processing type, organization size, and vertical.
Based on the Application
The market has been divided all across the globe based on application into analytics, reporting, transaction, and others.
Based on the Data Type
The in-memory database industry has been divided all across the globe based on data type into NewSQL, NoSQL, and relational.
Based on the Deployment Mode
The market has been divided all across the globe based on deployment mode into on-cloud basis, on-demand basis, and on-premise basis.
Based on the Processing Type
The in-memory database industry has been divided all across the globe based on processing type into Online Transaction Processing (OLTP), and Online Analytical Processing (OLAP).
Based on the Organization Size
The in-memory database industry has been divided all across the globe based on organization size into small and medium enterprises, and large enterprises.
Based on the Vertical
The in-memory database market has been divided all across the globe based on vertical into academia and research, government and defense, energy and utilities, media and entertainment, transportation, IT and telecommunication, retail and consumer goods, manufacturing, BFSI, and healthcare and life sciences.
The in-memory database market has been divided all across the globe based on region into Asia-Pacific region, European region, North American region, Latin American region, and the Middle East and Africa region. The largest market share in the in-memory database market is held by the North American region owing to the growing demand for in-memory databases for quick transfer of files coupled with technical expertise.
The second-largest market share in the in-memory database market is held by the Asia-Pacific region as this region is the fastest-growing region. This region also provides real-time intelligence analytics outsourcing facilities that boost the demand for the in-memory database industry.
The third-largest market share in the in-memory database market is held by the European region due to various emerging technologies like business intelligence (BI), the internet of things (IoT), mobility, and cloud-based services.
The Latin American and the Middle East and African regions also show positive growth towards the in-memory database industry. The growth rate in both these regions is comparatively less than in the other regions.
The most prominent major key players in the in-memory database market all across the globe are mentioned below:
These major key players use various strategies to sustain their market position in the in-memory database market in the global market by collaborating, by going for mergers, and acquisitions, establishing a partnership, developing a new product line, setting up a new joint venture, innovation in the existing product, developing a new production process, and many others to expand their customer base in the untapped market of the in-memory database all across the globe.
This global in-memory database market research report consists of the following elements mentioned below:
This global in-memory database market research report contains factors that drive the growth of the in-memory database market in the global market along with the factors that restrict the growth of the in-memory database industry in the global market. The challenges faced by the global market during the forecasted period are mentioned. The impact of COVID 19 on the sales revenue of the in-memory database market all across the globe is mentioned. The future growth rate of the in-memory database industry during the forecasted period is estimated and mentioned.
Business analytics software providers, cloud service providers, IT service providers, technology solution providers, research and consultancy firms, technology investors, and many others.
Frequently Asked Questions (FAQ) :
The in-memory database market is projected to mark 19% CAGR.
Increasing adoption of web-based applications and business analytics is supposed to drive the growth of the in-memory database market.
The in-memory database market is poised to value at USD 7 Bn.
The players are Microsoft Corporation (U.S.), Oracle Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Amazon Web Services (U.S.), Teradata Corporation (U.S), Tableau Software (U.S.), VoltDB (U.S.), Kognitio Ltd. (U.K.), Datastax (U.S.), McObject LLC (U.S.), ENEA (Sweden), and Altibase Corporation (U.S.).
North America is expected to be the largest regional segment.