In-Memory
Database Market Overview
Market Research
Future (MRFR) expects In-Memory
Database Market 2020 to achieve an approximate growth rate of 19% between
2017 and 2023, which is the review period.
Major factors
driving the in-memory database market include business analytics and web-based
transactions that are aiding the market. The use of in-memory databases is
increasing both among established users as well as new users. Furthermore, the
numerous advantage of database such as fast data retrieval speed that attracts
enterprises facing issues with large size database transactions and management.
Top Boosters and
Main Barriers
The COVID-19
outbreak has emerged as a challenge for a number of industries, including the
ICT sector. In-memory database is one such market that can endure the
ramifications of the pandemic, with the vendors rushing to deal with the
collapsing supply chain network. Having said that, trade analysts confirm that
the in-memory database market can observe decent growth in the coming years.
With the growing popularity of cloud computing in the IT industry, businesses
are moving from on-premise to cloud, since the latter helps the users make use
of the data on the server. This can be extremely beneficial in the lockdown
situation, with work from home becoming a prevalent mean of conducting
operations.
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The growth of the
IMDB market is largely dependent on factors like the heightened demand for
real-time tracking of data as well as analytical data processing among various
industry verticals. Prominent industries like retail and e-commerce are mainly
interested in collecting data regarding the consumers to better predict the
purchasing behavior. As a result, the demand for in-memory database is gaining
speed across these sectors worldwide.
The surge in the
internet-of-things connected devices also fosters the market growth, as a large
portion of the IT infrastructure is backed by in-memory databases.
Additionally, the mounting need for good quality risk management solutions
among multiple organizations also benefits the in memory databases market.
Memory databases is not only used as a response time enhancer of the analytical
data processing but is also deployed for enabling online transaction processing
or online analytical processing infrastructure. The growing application scopes
of these solutions are considered to be unique opportunities in the worldwide
market.
Market
Segmentation
The in-memory
database industry has been considered for data type, processing type,
application, deployment mode, organization size and vertical.
Given the data
types, the market segments analyzed are NoSQL, relational as well as NewSQL.
With respect to the
processing type, the primary segments include Online Transaction Processing
(OLTP) and Online Analytical Processing (OLAP).
Application-wise
market segmentation comprises analytics, reporting, transaction, and others.
The deployment
modes described in the market study are on-demand, on-cloud and on-premise.
Regional Insight
The regional
dissection of the in-memory database market consists of APAC or Asia Pacific,
Europe, North America, and RoW or the Rest of the World.
North America is
anticipated to be at the helm of the global market during the evaluation
period. The region’s high profitability prospects can be the result of the
frequent technological advancements and computing in the IT field. The market
study attests that the largest portion of the competitive landscape is led by
North American companies, armed with technical brilliance and innovation. Some
of these companies include Oracle Corporation, IBM Corporation, Altibase
Corporation, SAP SE, Microsoft Corporation, Aerospike Company, to name a few.
The Canadian market for in-memory database can maintain its winning streak,
thanks to the flourishing industrial sector in the country, which includes IT,
and retail.
The APAC market can
offer the industry contenders with the most number of lucrative opportunities,
in view of the fact that the region provides several outsourcing service with
higher quality predictive analytics in real-time. The digital transformation
evident in the emerging countries like India and China combined with the rising
popularity of technologies like Internet of Things (IoT), mobility, Business
Intelligence (BI), analytics and cloud can also bolster the market growth over
the next few years.
Top Contenders
Top contenders that
have been studied in the MRFR report include Amazon Web Services (U.S.),
Microsoft Corporation (U.S.), IBM Corporation (U.S.), SAP SE (Germany), Datastax
(U.S.), Teradata Corporation (U.S), Oracle Corporation (U.S.), McObject LLC
(U.S.), Tableau software (U.S.), VoltDB (U.S.), Kognitio Ltd. (U.K.), Altibase
Corporation (U.S.), ENEA (Sweden), to name a few.
Latest News
November 2019: GridGain
Systems, a renowned memory computing solutions provider, recently launched
GridGain for z/OS. This latest offering is an advanced form of the GridGain
in-memory database computing platform that can be used in IBM z/OS operating
system. GridGain for z/OS can help businesses in quickly developing solutions
to efficiently run analytics and also digitally transform the core systems to
real-time processes.
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