IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Tableau software (US), Amazon Web Services (US), Kognitio Ltd. (UK), Datastax (US), VoltDB (US), ENEA (Sweden), Altibase Corporation (US), McObject LLC (US),Teradata Corporation (US) , and SAP SE (Germany) are some of the prominent players profiled in MRFR Analysis and are at the forefront of the competition in the Global In-Memory Database Market.
In-Memory Database Market – Overview
In-Memory Database (IMDB), also referred as main memory database system (MMDB) or memory resident database is a database management system, primarily depends on main memory for computer data storage. These systems are mainly used for their reliable performance they deliver while accessing the data in memory, without taking much of time when querying the data.
IMDB, over the past couple of decades have garnered huge traction predominantly in the field of data analytics due to the multi-core processors that can address large memory with the low-cost RAM. Hence, IMDBs have proven to be a practical solution for the sectors where the less response time is required, such as mobile advertising networks and telecommunications network equipment.
Due to its proven efficacies, In-Memory Database systems are adopted in various verticals such as Aerospace & Defence, BFSI, Manufacturing, Media & Entertainment, Healthcare, Government, Retail and IT & Telecommunication, among other. Augmented adoption of cloud computing across all sizes of organization further escalates the market to the ascended heights on the global platform.
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Recognizing the potential of the market to grow further in the years to come, Market Research Future (MRFR) has published a detailed study report giving out the market forecast for the period 2017 – 2023. MRFR, in its analysis confirms that the global In-Memory Database market is expected to garner exponential growth by 2023, registering a stunning, double digit CAGR of 19% during review period of 2017-2023.
The In-Memory Database market is undergoing a significant change, as enterprises go through digital transformation, including the embracing and leveraging of a wide variety of new data types and forms that do not lend themselves to relational representation, and as they move to the cloud. In addition factors that drive the market growth include, improved processes for data sharing, data security, and minimized data integration, etc. Increasing application areas and wide uptake of cloud computing among the small scale enterprises are playing vital role in the growth of In-Memory Database Market.
Despite the phenomenal growth prospects the IMDBs demonstrates, some of its disadvantages are impeding the market growth. These challenges are prerequisite of IMDBs that all data must fit in memory, which is much affordable but this further prompts the need to increase the adequate memory or limit the size the database. This further suggests the increased cost to buy the memory.
IMDB Database Market – Competitive Analysis
In-Memory Database market is competitive & fragmented; several matured & small key players along with the new entrants form a competitive landscape, accounting for a substantial market share. Through strategic partnership, acquisition, expansion, collaboration, and product/technology launch these players try to gain competitive advantage.
April 25, 2018 – Google Inc. (US) the technology giant announced its plans to strengthen the line-up of database services on its cloud platform with a managed in-memory store, suggesting other several improvements to existing products.
In-Memory Database Market – Segments
By Data Type: Comprises NoSQL, NewSQL and Relational,
By Processing Type: OLAP (Online Analytical Processing) and OLTP (Online Transaction Processing) among others.
By Deployment Mode: On-demand, On-Premise, and On-Cloud.
By Organization Sizes: Small, Large & Medium organizations.
By Vertical: Aerospace & Defence, BFSI, Manufacturing, Media & Entertainment, Healthcare, Government, Retail and IT & Telecommunication, among other.
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IMDB Market Regional Analysis
North America region dominates the Global In-Memory Database Market with the largest market share. Technical expertise rendered by existing key market players coupled with the growing demand for in-memory database system due to the convenience of faster transfer of files & a large storage capacity, drives the regional market growth. Besides contribution from the growing markets in the US & Canada mainly backed by the growing IT industry and high deployment of cloud computing by the middle and large enterprises supports the regional market growth.
While the second largest market for the In-Memory Database, Europe is showing steady growth owing to the high growth of financial sector and healthcare along with the increasing adoption of on premises and on cloud database infrastructure.
Asia-Pacific In-Memory Database market on the other hand is growing rapidly due to the growing manufacturing and BFSI sector mainly in India and China. Growing investments in the development of efficient In-Memory Database systems are paying off well driving the regional market growth. Also the presence of prominent market players in the region with the ability to provide outsourcing service in real-time intelligence and the advanced predictive analytics on different applications are supporting the regional market growth. Initiatives taken towards the digitalization and promotion of the emerging technologies such as mobility, IoT (Internet of Things), BI (Business Intelligence), cloud, and analytics is boosting the regional market growth.
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