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In-Memory Computing Market By Component (Solutions, Services) By Deployment Mode (Risk Management and Fraud Detection, Sentiment Analysis, Geospatial/GIS, Processing, Sales and Marketing Optimization , Predictive Analysis, Supply Chain Management Others (Image Processing, Trade Promotion Simulations, Claim Processing and Modelling, and Route Optimization) By Deployment Mode (Cloud, On-premises) By Organization Size- Growth, Future Prospects & Competitive Analysis, 2016 – 2028

How does Big Data Play an Important Role in In-Memory Computing Market?

Big data is defined by three Vs: variety, velocity, and volume. The amount of data in organizations grows in line with the number of transactions. Data generated every second is enormous in industries such as telecommunications, BFSI, online gaming, and entertainment. Organizations use in-memory computing to keep data in the main memory of servers, allowing them to use the time that would otherwise be consumed on input/output processes for data processing. As a result, in-memory computing helps in the analysis of all structured and unstructured data. Companies are creating, collecting, storing, and trying to profit from structured and unstructured data, which is propelling the in-memory computing market forward. For instance, BFSI companies can use in-memory computing to analyze the impact of market swings on their portfolios (strategies) of long and short equity holdings in several markets and quickly identify strategies that need to be rebalanced.

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What is the Market Size of In-Memory Computing in terms of value?

Global In-Memory Computing Market is projected to increase at a significant CAGR of 15.7% in the coming years. In 2021, the global in-memory computing market was valued at USD 11,928.3 Million and is projected to reach USD 28,614 million by 2028. The demand for in-memory computing is projected to increase substantially in the coming years. It is presumed to generate revenue opportunities for the key industry players worth USD 16,685.7 million during the forecast period between 2022 and 2028.

How Adoption of In-Memory Data Management Supported the growth of the In-Memory Computing Market?

In-memory data management refers to monitoring and managing the storage, retrieval, and processing of data stored in the memory of a computer, server, or other computing devices. Most major database vendors now provide in-memory technology, which has become a reliable component of the data world. In-memory processing can process workloads upto 100 times quicker than disk-to-memory, allowing businesses to operate at incredible speed. While in-memory technology has been around for a long time, the demand for intelligent, interactive experiences needs high-performance back-end systems and applications that incorporate data transfer and delivery faster than ever. According to a recent Unisphere-AWS survey, 60% of IT managers, DBAs, and C-level executives estimate to store more data in the cloud than on-premise over the next three years. Additionally, the use of NoSQL platforms, including document, graph, columnar, and in-memory, which are still in their early phase of development, will rise as new applications develop and skills and experience become more widely available.

Interesting Facts about In-Memory Computing Industry

  • To maintain a competitive edge and fulfil the demands for an ideal customer experience in the modern scenario, companies are looking for solutions to deal with the constant influx of available data and the never-ending need for better and faster performance. This contributes to the advancement of in-memory computing technology.
  • Companies across a wide range of industries have been progressively using in-memory computing systems to obtain the application performance and scalability they require to meet their digital transformation or omnichannel customer experience goals over recent years.
  • For instance, in-memory computing is being used by American Airlines to improve response times, automate procedures, and achieve SLAs for business applications that process large datasets from many sources.
  • Market growth is expected to be hampered by a lack of skilled technical staff and the complexity of big data solutions over the forecast period.
  • Asia Pacific region had a major share in terms of volume and value in the global in-memory computing market in 2021 and is projected to continue its dominance over the forecast period.
  • The growth of the risk management and fraud detection segment requires organizations to sharply focus on expanding their risk intelligence skills to combat risk exposures.

Who are the Top 10 players/companies in the In-memory computing market in terms of value and volume?

The key players in the global in-memory computing market in terms of value and volume include Oracle (US), SAP (Germany), Microsoft (US), IBM (US), TIBCO (US), SAS Institute (US), Fujitsu (Japan), Software AG (Germany), Red Hat (US), GigaSpaces (US), Altibase (US), Intel (Germany), Salesforce (US), Workday (US), Qlik (US), VoltDB (US), and Teradata (US). These key players are concentrating on new product developments as well as technological innovation to enhance their production of in-memory computing to gain competitive market share at a global level. Moreover, some regional and country-level players are significantly investing in expanding their product offerings and generating revenue. For instance, in July 2020, Citrix and Microsoft contracted to advance the future of work. The companies collaborated to simplify cloud transformation and accelerate the use of digital workplaces and virtual desktops to increase agility, productivity, and security. On the other hand, in August 2020, IBM launched the IBM POWER10, the next version of its POWER central processing unit (CPU) family, which is designed to provide a platform to meet the company's specific demands for hybrid cloud computing.

Who are the Top 10 Countries in the In-Memory Computing Market?

In the global in-memory computing market, the major countries are China, India, Japan, the U.S., Canada, the U.K., Germany, France, Russia, and South Korea. China is the major manufacturer and consumer of in-memory computing in the global market in 2021. Moreover, the rising adoption of advanced technology in BFSI, government, retail, and e-commerce sectors in countries such as Japan, China, India, the U.S. and South Korea is expected to enhance the market growth. Besides, the in-memory computing market in developing countries like India is projected to witness major growth in the coming years due to the robust presence of major players such as Microsoft, Oracle, Intel, etc., in the country.

Which is the Key Deployment Mode Area in the In-Memory Computing Market?

The key applications of in-memory computing include:

  • Risk management and fraud detection.
  • Cosmetic sentiment analysis.
  • Geospatial/GIS processing.
  • Sales and marketing optimization.
  • Predictive analysis.
  • Supply chain management.
  • Others.

The risk management and fraud detection application segment is expected to grow rapidly over the forecast period. The expansion of the risk management and fraud detection market can be ascribed to the need for companies to focus on improving their risk intelligence capabilities to fight risk exposures. Moreover, the application assists businesses in mitigating risks and aligning important business processes through functions such as managing IT security-based compliance and regulations such as ISO 27001 and offering automatic risk notifications.

In addition, in-memory computing product capabilities are integrated with multiple business applications spread across many sectors to meet the specific needs of business segments. Moreover, the market players focus on addressing client requests with distinctive product features.

What are the Major Driving Factors for In-Memory Computing Market?

The increased adoption of in-memory computing to enhance application performance and scalability, improve response times, automate processes, and meet SLAs for commercial applications are driving the growth of the in-memory computing market. Moreover, the exponential expansion of big data to better machine-driven decision-making and the development of AI and ML-based solutions to gain real-time actionable customer insights are expected to boost the growth of the in-memory computing market over the forecast period.

What are the Major Restraints for In-Memory Computing Market?

The key restraint of the global in-memory computing market, which is projected to hamper the market growth, includes lack of standards, data security issues, and rising data volatility. The other key factor hampering the market's growth is the lack of trained technical staff and the complexity of data extraction. This is due to the shortage of skilled staff to work on niche technologies and the complexity of big data solutions; companies report challenges in extracting value from structured, unstructured, or semi-structured data.

Which Region Dominated the World In-Memory Computing Market?

The Asia Pacific dominated the global in-memory computing market in 2021, owing to the presence of developing nations such as China, Japan, and India. These countries are well-known for their competence in business process outsourcing (BPO) and knowledge process outsourcing (KPO). These countries also have manufacturing facilities. All business activities necessitate a massive amount of data that must be stored, processed, and analyzed for decision-making. Moreover, increased investment by many technology players is driving the growth of the Asia-Pacific in-memory computing market.

However, North America and Europe are projected to witness substantial growth in the coming years due to increased demand for analytics and advanced analytics platforms by small and medium businesses and government agencies, drives the demand for in-memory computing products in this region. In addition, rising cloud and IoT adoption and increased web usage are some of the factors propelling the in-memory computing market growth in Europe and North America.

Segmentation of Global In-Memory Computing Market-

Global In-Memory Computing Market – By Component

  • Solutions
  • Services

Global In-Memory Computing Market – By Deployment Mode

  • Risk Management and Fraud Detection
  • Sentiment Analysis
  • Geospatial/GIS Processing
  • Sales and Marketing Optimization
  • Predictive Analysis
  • Supply Chain Management
  • Others (Image Processing, Trade Promotion Simulations, Claim Processing and Modelling, and Route Optimization)

Global In-Memory Computing Market – By Deployment Mode

  • Cloud
  • On-premises

Global In-Memory Computing Market – By Organization Size

  • SMEs
  • Large Enterprises

 Global In-Memory Computing Market – By Vertical

  • BFSI
  • IT and Telecom
  • Retail and eCommerce
  • Healthcare and Life Sciences
  • Transportation and Logistics
  • Government and Defence
  • Energy and Utilities
  • Media and Entertainment
  • Others (Education, Manufacturing, and Travel And Hospitality)

Frequently asked questions about the global In-memory computing industry

The Covid-19 epidemic had a short-term impact on the chip manufacturing business, as numerous activities were halted due to the global quarantine. At the same time, companies are partnering to develop a cure for the epidemic by data analysis using advanced computing, which uses in-memory computing technology. For instance, Intel and Lenovo recently partnered with Beijing-based BGI Genomics to use its technology and experience to speed up the examination of COVID-19's genomic traits.

Asia Pacific accounted for the highest share in the global in-memory computing market in terms of value as well as volume.

The key factors driving market expansion include the exponential growth of big data and increased analytical and transactional needs across numerous industrial sectors.

Cloud in-memory computing had a major share in 2021. Besides, on-premises in-memory computing is also projected to witness the fastest growth.

Risk Management and Fraud Detection segment application had a major share in the global market in 2021 and is projected to continue its dominance over the forecast period.

In-Memory Computing Market Scope

Report Attribute Details
Market Value in 2021 USD 11,928.3 Million
Market Value in 2028 USD 28,614 Million
CAGR 15.7%
Benchmarking Year 2021
Past data 2016 – 2021
Forecast period 2022 – 2028
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Godaddy
Published Date:  Jul 2022
Category:  Technology & Media
Report ID:   58985
Report Format:   PDF
Pages:   185
Rating:    4.6 (30)
Delivery Time: 24 Hours to 48 Hours   
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