The in-memory computing market is estimated to grow with a high CAGR during the forecast period, i.e., 2021-2029. In-memory computing is essentially used for information storage. In-memory computing reduces latency in data transactions and analyses data in real-time to enhance decision-making. Increasing usage of the internet and mobile banking requires large data processing, which is also expected to provide industry growth avenues. The growing trend towards increasing the RAM size is expected to provide avenues for in-memory computing market growth. Numerous government initiatives, such as the Unique Identification Card, to increase digitization at the national level create the need for IMC, thereby growing industry demand.
Increasing big data adoption is anticipated to grow industry demand over the next few years. The industry is characterized by technological advancement and is slowly shifting from traditional disk-based to Dynamic Random-Access Memory based in-memory computing. Innovations like multi-core architecture, parallel server, and NAND flash memory will contribute to future growth in the market. The software segment's progress, such as column-centric database, compression techniques, and handling aggregate table, are expected to catalyse industry growth over the coming years.
The market is segmented by application type into risk management & fraud detection, sentiment analysis, geospatial/GIS processing, sales & marketing optimization, predictive analysis, supply chain management, and others. Among these segments, the risk management & fraud detection segment is anticipated to hold the largest share due to the need for organizations to keenly focus on enhancing their risk intelligence capabilities to fight risk exposures.CLICK TO DOWNLOAD SAMPLE REPORT
Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific and the Middle East & Africa region. The market in the North America is predicted to grow at the highest CAGR over the forecast period owing to the growing demand for analytics platforms and government agencies that would drive the demand for IMC products. The increasing demand for advanced analytics platforms by small and medium businesses would fuel the demand for IMC products in the region. The growing adoption of cloud and IoT and the rising use of the web are factors driving the IMC market growth in Europe. APAC is expected to record the swiftest growth rate during the forecast period. The adoption of IMC technology by various verticals, such as retail and manufacturing, is expected to contribute to the growth of the market in the APAC.
The global in-memory computing market is further classified on the basis of region as follows:
Our in-depth analysis of the global in-memory computing market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Exponential growth of big data and rising analytical and transactional needs across many industrial sectors are the key factors driving market growth.
The market is anticipated to attain a high CAGR over the forecast period, i.e., 2021-2029.
Availability of trained technical staff and complexity of big data solutions are estimated to hamper market growth.
The market in North America region will provide ample growth opportunities owing to the rising demand for analytics by small and medium businesses and government agencies in the region.
The major players dominating the in-memory computing market are Microsoft Corporation, Oracle Corporation, SAS Institute, Workday, Inc., Fujitsu Limited, Teradata Corporation among others.
The company profiles are selected on the basis of revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by component, application, organization size, vertical and region.
With respect to application, the risk management & fraud detection segment is anticipated to hold the largest market share owing to the rising need of organizations to focus on their enhancement of risk intelligence capabilities to fight risk exposures.
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