In-Memory Database Market Overview
The
global in-memory database market is growing continually, witnessing the rising
adoption of IMDB systems. In-memory database solutions have transformed
business operations with fast, integrated intelligence. Unlike traditional
row-oriented storage, columnar storage that IMBD systems offer helps optimizing
analytics with great compression advantages, storing much more data in much
less memory.
Resultantly,
IMDBs has proven to be a practical solution for low response time in sectors,
such as mobile advertising networks and telecommunications network equipment. 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.
The
market is undergoing a significant change as enterprises go through digital
transformation, including embracing and leveraging various new data types and
forms. With its proven efficacies, IMDB systems are adopted in various
verticals such as aerospace & defense, BFSI, manufacturing, media &
entertainment, healthcare, government, retail, and IT & telecommunication.
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Additionally,
the augmented adoption of cloud computing across small, medium, and large
organizations escalates market growth. On the other hand, the prerequisite of
IMDBs that all data must fit in memory are major factors forecasted to impede
the market growth, prompting the need to increase the adequate memory or limit
the size of the database. Nevertheless, increasing application areas and wide
uptake of cloud computing would support the market growth throughout the
assessment period.
Global
In-Memory Database Market - Segments
The
report is segmented into five dynamics;
By Data
Type
: Comprises NoSQL, NewSQL, and Relational.
By
Processing Type: OLAP (Online Analytical Processing), OLTP (Online Transaction
Processing), and others.
By
Deployment Mode: On-demand, On-Premise, and On-Cloud.
By
Organization Sizes: Small-to-Medium (SMEs) and Large Enterprises.
By
Vertical : BFSI, Aerospace & Defence,
Manufacturing, Healthcare, Media & Entertainment, Government, Retail, IT
& Telecommunication, and others.
In-Memory Database (IMDB) Market -
Geographical Analysis
North
America dominates the global in-memory database market. The largest market
share attributes to the growing demand for advanced IMDB systems and technical
expertise rendered by existing market players in the region. Besides, the
convenience of faster transfer of files & the large storage capacity that
IMDB systems offer drives the growth of the regional market.
The
growing IT industry and high deployment of cloud computing by the middle and
large enterprises support the regional market growth. Moreover, rising
contributions from growing markets in the US & Canada lead the regional
market demand. The North American IMDB
market is projected to retain its dominance throughout the estimated
period.
Europe
stands second in the global in-memory database market. The market growth is
driven by the high growth of banking & financial and healthcare sectors in
the region. Additionally, the increasing adoption of on-premises and on cloud
database infrastructure across the SMEs and larger enterprises boost the growth
of the in-memory database industry in the region.
The Asia
Pacific in-memory database market is growing rapidly. Factors such as the
growing manufacturing and BFSI sectors in the region influence the growth of
the IMDB market. Growing investments in the development of efficient IMDB
systems foster the growth of the regional market. Furthermore, initiatives taken
towards promoting digitalization and emerging technologies, such as mobility,
IoT, Business Intelligence (BI), cloud, and analytics, propel the regional
market growth.
Also,
the presence of prominent market players with the ability to provide
outsourcing service in real-time intelligence and advanced predictive analytics
on different applications influence the regional market growth.
Global
IMDB Market - Competitive Landscape
Highly
competitive, the global in-memory database market appears to be fragmented due
to the presence of several well-established market players. To gain a larger
competitive share, industry players incorporate strategic initiatives such as
mergers & acquisitions, collaborations, expansions, and product/technology
launch.
Major
Players:
Players
leading the global IMDB market include IBM Corporation (US), Oracle Corporation
(US), Microsoft Corporation (US), SAP SE (Germany), Teradata Corporation (US),
Tableau Software (US), Amazon Web Services (US), Kognitio Ltd. (UK), Datastax
(US), VoltDB (US), ENEA (Sweden), Altibase Corporation (US), and McObject LLC
(US), among others.
Industry/
Innovation/ Related News:
July 22,
2020 ---- GridGain Systems (the US), a leading provider of enterprise-grade
in-memory computing solutions, announced a strategic partnership with Tech
Mahindra (India), a leading provider of digital transformation consulting and
business reengineering services & solutions.
The
integration of GridGain’s technologies into Tech Mahindra’s solutions would
help customers manage surging application loads caused by increasing customer
traffic, the launch of new services, and seasonal traffic spikes. GridGain
solutions would also power the digital integration hub (DIH) architectures
serving as a high-performance data access layer that integrates multiple
applications and databases.
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