In-memory computing technology is used for storing data in the main random access memory of the device. It is and easy and inexpensive option than the conventional yet complicated relational database. In-memory database technology is highly popular amongst retailers, utilities, customers like banks and other business end users. End users like business customers prefer using this technology to detect patterns and analyze massive data in a short while. Recent drop in the prices is one of the major triggers for the growing global in-memory computing market. According to the experts, global industry for this technology is expected to witness great revolution in terms of technological advancements and increasing presence in different parts of the world.
Segmentation in In-Memory Database Technology Market
Before understanding the market trends for this technology, researchers need to do a detailed study of the drivers, threats, segments, opportunities and future challenges in the marketplace. Segmentation is a crucial aspect of any research that assists experts to collect thorough information and draw appropriate conclusions. As far as the segmentation in this market is concerned, it is largely based on the types of the technology and its applications to the end users and different business verticals.
Small and medium businesses and large enterprises are the major end users for in-memory computing market. As far as industrial verticals are concerned, the industry serves numerous business verticals including retail, banking, finance, telecommunication, government, logistics, transportation and others. Following are the four basic types of in-memory database technology:
- In-Memory Databases (IMDB)
- In-Memory Data Grids (IMDG)
- In-Memory Data Management (IMDM)
- In-Memory Application Platforms (IMAP
Market Trends and Forecasting From 2013 to 2018
In-memory computing technology is an entire database stored in the RAM. This feature reduced numerous complexities attached with data storage including low requirement for physical storage space and latency in analysis. This basic function of the aforementioned technologies is paired with technological advancements like multi-core processors and rising demand for parallel computing. All these factors contribute in the growing demand for in-memory computing technology. According to the latest market trends, the global industry is expected to grow at an estimated CAGR of 43% from 2013 to 2018. At this rate, the market will reach $13.23 billion by the end of 2018. According to the 2013 observations, the market is poised at $2.21 billion in 2013.
Although introduced in the 20th century, the global market has showed a very slow progress in terms of adopting this technology. However, the scenario is changing with recent technological advancements and steeping prices in global marketplace.