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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