Global In-Memory Grid Market Overview
In its research report, Market Research Future
(MRFR), emphasizes that the global In-Memory Grid Market is expected to grow
exponentially, securing a substantial market valuation from USD 1.32 billion in 2017 to USD 2.25
billion by 2023, at a substantial CAGR of 11.25% over the review period.
Drivers and Restraints
The market for the in-memory grid is segmented
according to feature, form of deployment, application, vertical and area.
In-memory grid is a data system that is spread over many servers, offering high
data availability while maintaining it in memory. The factor like that the need
for a relational data model and database is driving the growth of the global
data grid market in memory. In addition, enhancement of the analytical
application efficiency and the need to achieve high throughput with real-time
processing are expected to further fuel market growth. However, several
developments in core systems to take advantage of low latency are increasing
the scenario for in-memory data grids to be accepted in many industries.
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During the forecast period, the increasing number of
concurrent transactions involving large volumes of operational data, increased
use of real-time analytics across end-verticals, and the need for an effective
replacement of relational data model and database remains the key drivers for
the in-memory industry. This is generally adopted for the management of big
data velocity, volatility, and quantity. Furthermore, the growing demand for
distributed architecture that can upsurge the storage capacity of main memory
fuel the growth of in-memory grid market.
Segmental Analysis
The demand for in-memory grids is divided into two
categories of products, namely services and solutions. The market is bifurcated
into cloud and on-premise by type of deployment. The type of on-premise
deployment is projected to hold the largest market share over the forecast
period. Because of the high critical and sensitive data stored in the system,
major companies favor on-premise deployment.
The in-memory grid market is segmented by
application into transaction processing, fraud and risk management, the supply
chain, and sales and marketing.The category of transaction processing is
expected to have the greatest market share in 2017. The growing initiative for
digital transformation across industry verticals to facilitate faster and
smoother transactions has led to increasing adoption of the transaction
processing in-memory grid.
The market is segmented into BFSI, government,
healthcare, IT and telecommunications, media & entertainment, retail, and
others.
Regional study The global business regional overview
was performed in four major regions namely Asia Pacific, North America, Europe
and the rest of the world.Due to the rise in the adoption of the connected
devices and subsequent rise in data volumes, Asia-Pacific is expected to be the
fastest growing area during the prediction period. In addition, increased
government initiatives to upgrade IT infrastructure and deploy cost-effective
cloud-based solutions are expected to drive the in-memory grid market in Asia
Pacific during the forecast period. North America is projected to have the
largest market share and over the forecast period will dominate the market for
in-memory grids. As a developing economy, the area has seen heavy investments
in R&D activities to develop emerging technologies such as the Internet of
Things (IoT), big data, and social media. In addition, the presence of the
region's best multinationals further drives growth in those regions.
Competitive Analysis
The major market players operating in the global
in-memory grid market as identified by MRFR are TIBCO Software Inc. (US),
Pivotal Software, Inc.(US), IBM Corporation (US), Oracle Corporation (US),
Hazelcast, Inc. (US), Software AG (Germany), Red Hat, Inc. (US), Pivotal
Software, Inc.(US), Hitachi, Ltd. (Japan), ScaleOut Software, Inc. (US),
Hazelcast, Inc. (US), GigaSpaces Technologies Inc. (US).
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