The process of storing information on the main random access memory is known as in-memory computing. Instead of saving the data in complex computing databases and slow disk drives, the data is saved in the main RAM of dedicated servers. In-memory database assists business customers like utilities, banks, retailers such clients to analyze massive volumes of data in no time. Rising amount of databases and growing demand for real-time data analysis are driving the in-memory computing market. Both these factors are creating major concerns for the organizations, which is a positive influence on the global industry. According to the analysis, growing demand and advancing technologies are expected to cause massive growth in this industry worldwide.
Crucial Factors for In-Memory Computing Industry
In-memory database reduces latency level in the data transactions and helps organizations to check the data in real time. This is strongly advantageous as far as decision-making abilities of the enterprises are concerned. As a result, in-memory computing solutions or IMC solutions, grids and databases help different industries in different ways. Solutions offered by these processes can be easily implemented across organizations from different industrial verticals. This has broadened the reach of global in-memory computing market to a greater deal. Along with growing adoption of IMDS, IMDG and IMDB, constant technological advancements in the market also have a key role to play in the whopping progress of the global industry.
Segments and Drivers
Basic segmentation in the global in-memory computing market depends on the types of data management systems and application platforms. The market is further segmented based on the types of industrial verticals where these solutions are used. Demand pattern across different geographic locations is also taken into consideration, while creating market research reports. According to the experts, growing demand for in-memory data grids is expected to drive in-memory data management systems segment at a strong compound annual growth rate. As far as industrial verticals are concerned, BFSI and telecommunication segments are expected to make rapid growth in deployment and adaptation rate. Geographically, North America is expected to dominate the industry. However, Asia pacific region is expected to make rapid growth as well.
According to business research reports, in-memory computing market is expected to maintain an impressive CAGR of over 43% from 2013 to 2018. During the forecasting period of over 5 years, the industry is anticipated to reach $13.23 billion in 2018, which was worth $2.21 billion in 2013.