In-Memory Computing Market Segmented By In-Memory Database and In-Memory Data Grid solution and Professional Services, Managed Service Components in On-premise, Cloud Deployment
Industry: IT and Telecommunication
Published Date: April-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 336
Report ID: PMRREP33026
The In-memory computing market is expected to expand its roots in the global market at a robust CAGR of 17.5% between 2022 and 2032.
The market is valued at US$ 15.5 bn in 2022 and is likely to reach US$ 77.7 Bn by 2032. Previously, the market was thriving at a higher CAGR of 19.2% (2015-2021), resulting in market size of US$ 13.3 Bn in 2021.
“In-memory computing market is growing excessively as the demand for fast processing memory systems and grids are rising, corporates add fast-paced in-memory computing system to improve the performance and expand their space in the respected market.”
In the fast-paced, performance-driven market eco-system, the concept of faster the better plays a vital part. In-memory computing market proliferates as it becomes a faster and better way to store data. An in-memory computing system saves time, costs and enhances the operability of any corporate space that deals with data.
| Attributes | Details |
|---|---|
|
In-Memory Computing Market CAGR (2022-2032) |
17.5% |
|
In-Memory Computing Market Value (2022) |
US$ 15.5 Bn |
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In-Memory Computing Market Value (2032) |
US$ 77.7 Bn |
Covid-19 has impacted multiple global markets by rearranging the supply chains due to the market restrictions and logistics bans introduced by governments worldwide. The in-memory computing market had a slight impact as chip manufacturing units were shut down, and the supply chain of chips was disturbed.
Other logistics operations related to the transportation of raw materials also impacted the manufacturing units. However, there were few repercussions of Covid-19 that had some positive effects on the in-memory computing market.
Companies collaborating with other companies to counter the adverse impacts of covid-19 enabled the use of in-memory computing and in-memory databases to advance their operations.
For example, Tech giants Lenovo and Intel tied up with Chinese BGI Genomics to use their technology on their platforms to accelerate the recovery process. This explains the mixed impact of covid-19 on the in-memory computing market.
As the in-memory computing market grows excessively, the upward trend involves the integration of AI and Machine learning along with new cloud management tactics. This pushes efficiency to a new pedestal and fastens the overall processing time for small to large corporate enterprises.
In-memory computing as a new way to fasten performance and processing is penetrating multiple market spaces all around the world. The key drivers that drive the in-memory computing market are increased adoption of in-memory computing and database in corporate enterprises, increased use of in-memory computing in airlines to meet SLAs and proliferation of big data to make the decision making better and machine-driven. It also grows with the use of artificial intelligence and machine learning in revolutionizing the technology world, making it easier and faster to process data for enterprises, banks and other services.
The use of big data, integrating it with machine learning and predictive decision making, pushes the in-memory computing market. Structured with Volume, Velocity and Variety, Big data extracts large amounts of information in a small period of time with the help of in-memory computing systems and in-memory computing databases. But it limits the market as these platforms take a lot of capital investments and a technologically competent workforce that most small and medium scale organizations lack. This limits the growth of the global IMC market.
Integration of in-memory databases with multiple verticals such as BFSI, telecommunication, entertainment is common, decreasing the processing time. In-memory computing uses random access memory as the primary storage and not the slow hard drives that take a lot of time processing and sharing the data. This way, it increases the flexibility, scalability and efficiency of operations.
The in-memory computing grids can be attached to an on-premise and cloud deployment to fasten the decision-making process. The in-memory computing market thrives in the airline industry, too, as the need for faster and better performance is never-ending. In-memory computing automates and digitizes the multiple processes involving omnichannel customer experience. It smoothens the process and enhances efficiency in order to meet service-level agreements (SLAs).
The biggest challenge for the in-memory computing market is the incompetency of enterprises. Due to this, organizations are unable to achieve the 100% benefit of business intelligence platforms like AI and machine learning integrating with in-memory computing databases and systems, restraining the growth of the global In-memory computing market. Another restraining factor for the In-memory computing market is the approach of capturing and correcting how organizations handle their data with. This lacks the analysis of data that vastly affects the integration process or becomes a loophole in the longer run.
| Attributes | In-Memory computing Market |
|---|---|
|
CAGR (2022-2032) |
17.5% |
|
Market Value (2026) |
29.54 Bn |
|
Growth Factor |
Need for faster processing computing, increasing the efficiency and enhancing the performance for the competitive lanscape. |
|
Opportunity |
Introduction of Artificial Itelligence and Machine learning, integrating with In-memory computing systems are providing opportunities to tech companies to experiment more. |
|
Key Trends |
Vendors now focus on easy implementation as the process is complex and takes a competent workforce to complete the implementation process. |
| Attributes | In-Memory Databases Market |
|---|---|
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CAGR (2022-2032) |
17.9% |
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Market Value (2026) |
14.99 Bn |
|
Growth Factor |
Companies switch to cloud bases In-memory databases as it speeds up their data processing with price of RAMs falling frequently. |
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Opportunity |
Growth of In-memory databases also helps in increasing the need for real-time data processing, that RAM based databases provide by speeding up the performance and showing the real time results. |
|
Key Trends |
Emergence of Hybrid Transactional and Analytical Processing (HTAP) and increased use of non-embedded applications are fuelling the in-memory database market. |
| Attributes | Business Intelligence market |
|---|---|
|
CAGR (2022-2032) |
7.3% |
|
Market Value (2026) |
36.7 Bn |
|
Growth Factor |
Business integration solutions along with AI and ML are increasing the need for data visualization dashboards for the better business decisions. |
|
Opportunity |
Covid-19 pushed the IT services to follow work from home procedures, that led BI market to provide frequent support to the corporates with data visualization and predictive decision making. |
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Key Trends |
Usage of business intelligence platforms has risen in healthcare and life sciences industry excessively as healthcare business intelligence market also grows. |
Concepts like Machine learning, Artificial Intelligence, Predictive solutions are new to the corporate world. Any cutting-edge technology that fastens the processing and enhances the performance for the end user becomes the market trend. Business intelligence and its branches involve cloud computing and In-memory computing. The use of RAM as a primary storage source, fastening the data transfer from one end to another, is the latest technology that trends. The IMC market also expands with an essential role of In-memory data management, through which processes can be 100 times faster than the drive-to memory configurations.
Unisphere-AWS survey states that it is expected that more than 60% of the chief executives from IT involving managers, DBAs and others look to store more data in cloud storage than on-premise storage. This will again push the third party In-memory computing vendors that provide safe, secure and reliable storage.
The In-memory computing market is categorized by components, application, deployment type, organization size and vertical. These categories are further divided into small segments with different market spaces in various regions.
The component category has two segments; Solutions and Services, while the application category holds risk management and fraud detection, sentiment analysis, geospatial/GIS processing, predictive analysis, supply chain management. There are two types of deployment types in the In-memory computing market: cloud and on-premises deployment.
The market caters for two types of organization sizes; SMEs and Large Enterprises, while the vertical category has BFSI, IT & Telecom, Retail & E-commerce, Healthcare & Life sciences, Transporation & Logistics, Government & Defense, Energy & Utilities, Media & Entertainment.
By component, a solution is the biggest segment in the In-memory computing market that thrives on a strong CAGR of 16.9% between 2022 and 2032. The factors behind this segment’s growth are its easy implementation and acceptance in IT spaces. In-memory Database (IMDB), In-Memory Data Grid (IMDG) and data stream processing are the processes that computing solutions consist of. IMDB solutions segment tops in this segment as it boosts performance and flexibility of operations, pushing the sales of In-memory computing solutions.
By application, the risk management and fraud detection segment hold the biggest portion of the in-memory computing market and is expected to be on top during the forecast period. The factors fueling the growth of this segment are organizations focusing on enhancing their risk and fraud detecting capabilities to counter any risk possible. IMC enabled applications to have fewer chances of any malicious activity occurring in them because of the fast processing and better risk management, fueling the demand for an in-memory computing solution system.
By deployment, cloud deployment holds the biggest portion of the In-memory computing market and is likely to generate the highest revenue in the forecast period, thriving at a CAGR of 16.3% between 2022 and 2032. The factors attributing to this growth are the huge chunk of data needing proper segments and high storage capacity that only a cloud or third-party cloud deployment can provide.
| Regions | CAGR (2022-2032) |
|---|---|
|
United States |
16.9% |
|
United Kingdom |
16.2% |
|
China |
16.7% |
|
Japan |
16.3% |
|
South Korea |
16.0% |
The In-Memory computing market is divided into regions; North America, Latin America, Asia Pacific, Middle East and Africa (MEA) and Europe. The biggest market is the United States, which is thriving at a CAGR of 16.9% between 2022-2032.
The region is expected to hold a market revenue of US$ 24.8 Bn by the end of 2032. The factors behind the excessive growth of this region in the In-memory computing market are the growth in the IT and Banking industry and the increasing need for better-optimized databases that transfer the data through a faster channel.
Apart from this, China is the second highest growing market for the In-Memory computing market. Chinese region will hold US$ 5.6 Bn by the end of 2032 as it thrives on a solid CAGR of 16.7% between 2022-2032. Japan also grows along with China with the forecasted value of US$ 4.7 Bn (2032) at a CAGR of 16.3% between 2022-2032, expanding the In-memory computing market size.
The global study on the In-memory computing market explains that the market holds diversified interests as the new cutting edge technology comes along the way, the new names also come up in the market dynamic. Companies focus on experimenting with storage technology advancements that deliver maximum data transfer speed and minimum time. Key players also collaborate with other significant brands that help them deliver better solutions as there is close competition in the market, expanding the In-memory computing market size.
| Attributes | Details |
|---|---|
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Forecast period |
2022-2032 |
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Historical data available for |
2015-2021 |
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Market analysis |
USD Bn for Value |
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Key Countries Covered |
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By Market Segments |
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Key Companies Profiled |
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Pricing |
Available Upon Request |
By Components
By Application
By Deployment
By Vertical
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In-Memory computing market is projected to have a CAGR of 17.5% through 2032.
United States is the leading region with an anticipated CAGR of 16.9% through 2032.
Cloud type deployment lead the market with the projected CAGR of 16.3% by the end of the forecast period.
The In-Memory computing market is predicted to grow US$ 77.7 Bn by 2032.
Solutions segment leads the market with the projected CAGR of 16.9% from 2022-2032.
