MarketsandMarkets expects the global In-Memory Computing (IMC) Market size to grow from USD 11.4 billion in 2020 to USD 24.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period. IMC is a type of middleware software that enables users to store data in RAM, across a cluster of computers, and process it in parallel and primarily relies on keeping data in servers’ RAM for processing it at faster speeds. It especially relates to processing problems that require extensive access to data analytics, reporting, or warehousing and big data applications. The explosion of big data has prompted much research to develop systems to support ultra-low latency services and real-time data analytics.
The services segment to record the higher growth rate during the forecast period
On the basis of components, the IMC market is segmented into solutions and services. The services segmented to grow at a higher rate during the forecast period. The services play a vital role in the functioning of IMC solutions. IMC vendors require technical support services and consulting services to manage the deployment of solutions in the market. These services ensure faster and smoother implementation that maximizes the value of enterprise investments. They are an integral step in deploying technology solutions and are taken care of by solution and service providers. These services ensure the end-to-end deployment and maintenance of IMC solutions and address pre-and post-deployment queries. These services help companies plan and strategize operations through design, implementation, adoption, and training.
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The predictive analysis segment to record the highest CAGR during the forecast period
In the IMC market by application, the predictive analysis segment is expected to record the highest CAGR during the forecast period. The IMC market is segmented on the basis of applications into risk management and fraud detection, sentiment analysis, geospatial/GIS processing, sales and marketing optimization, predictive analysis, supply chain management, and others (image processing, route optimization, claim processing and modeling, and trade promotion simulations). IMC solutions can transform an organization by providing many ways of ensuring that they are delivering a consistent quality of service and a secure experience at every customer touchpoint. Enterprises with limited financial resources and IT experts have started implementing IMC-enabled applications to help non-technical users to quickly perform complex data analysis. IMC product capabilities are integrated with diverse business applications scattered through different verticals and designed to replenish the unique demands of business segments.
Key and emerging market players include Microsoft (US), Oracle (US), SAP (Germany), IBM (US), SAS Institute (US), TIBCO (US), Software AG (Germany), Fujitsu (Japan), Red Hat (US), Altibase (US), GigaSpaces (US), GridGain (US), Hazelcast (US), MongoDB (US), Exasol (Germany), Intel (Germany), Qlik (US), Salesforce (US), Workday (US), Teradata (US), Kognitio (UK), Enea (Sweden), VoltDB (US), McObject (US), and MemSQL (US).
IBM (US) is a leading IT software and platform solution provider. It has established itself as a recognized brand in the IMC market with its global presence and expansive partner network. Its wide analytics portfolio includes content management, analytics, business intelligence, predictive analytics, and discovery and exploration. The company’s products on cloud deliver business with trusted data and solutions. Its cloud solutions not only help in identifying various risk indicators and alerts associated with data, but also provide security, data transfer and storage, notification mechanisms, user interface presentation, and communication services in an agent-server-client architecture. The company aspires to become a market leader for security, governance, and compliance solutions by offering strategies, capabilities, and technologies for security risk management. It regards customer care as its highest priority and diligently strives to provide its customers with enhanced offerings. Over the past decade, it has invested substantially in R&D related to IT security. IBM has brought AI into the mainstream with the Watson platform and introduced Cognos Analytics solutions, which provide data insights in the form of dashboards to make business decisions. The company has integrated these solutions with the latest innovations, advanced features, and cloud capabilities. R&D is the key strategy for the innovation and growth of IBM. It invested nearly 7.8% of its annual revenue in R&D activities in 2019, which would continue to benefit its cloud analytics solutions. IBM’s cost-effective products would offer it a competitive advantage in the IMC market. The company’s position in the global market would improve by focusing on new and emerging markets in APAC and MEA.
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SAP (Germany) is a leading IMC solution provider with a diversified product and services portfolio, and one of the market leaders in applications, analytics, and mobility solutions. The company offers a wide range of products and services, which can be deployed on-premises and in cloud. It has presence in all major geographies and verticals, such as retail, BFSI, manufacturing, healthcare, and IT and telecom, with a large sales and marketing footprint. SAP is observing the rising demand for its solutions from customers for making confident, data-driven decisions to maintain a competitive rivalry in the IMC market. SAP is also focusing on tapping growth opportunities through the strategic acquisitions of startups and SMEs to strengthen its market position. SAP has been gradually increasing its focus on AI, ML, and IoT technologies for enhancing its products and services. It has been continuously investing in R&D to keep pace in the technology market space. It adopts organic and inorganic growth strategies to attain a competitive position in the IMC market. For instance, in October 2019, SAP partnered with Sri Lanka SAP User Group (SLSUG) to drive digitization for local businesses in Sri Lanka and signify the importance of enterprises going digital with its intelligent offerings and solutions enabling them to become Intelligent Enterprises. The company’s Intelligent Enterprise strategy enables businesses to rapidly transform data into insights, feeding process automation, innovation, and optimal experiences. SAP focuses on collaborating with other vendors in the market for enhancing its product portfolio as well as increasing its customer base.
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