Overview and Scope
The in-memory analytics refer to a process of querying data when it resides in the compute’’s random-access memory (RAM), as opposed to querying the data that is stored on physical disks. This results in shortened query response times, allowing analytic applications and business intelligence (BI) to support faster business decisions. In-memory analytics helps in increasing the overall speed of a BI system and provides business-intelligence users with faster answers compared to traditional disk-based business intelligence, particularly for queries that take a long time to process in a large database.
Sizing and Forecast
The in-memory analytics market size has grown exponentially in recent years. It will grow from $4.52 billion in 2023 to $5.66 billion in 2024 at a compound annual growth rate (CAGR) of 25.1%. The growth in the historic period can be attributed to complex data structures, enterprise focus on performance, need for real-time insights, demand for interactive data exploration, rise of advanced analytics.
The in-memory analytics market size is expected to see exponential growth in the next few years. It will grow to $14.43 billion in 2028 at a compound annual growth rate (CAGR) of 26.4%. The growth in the forecast period can be attributed to increasing growth in real-time analytics applications, in-memory analytics for data lakes, enhanced security and data protection, cross-platform compatibility, edge computing and decentralized analytics.. Major trends in the forecast period include integration with cloud services, integration with iot analytics, automated analytics and machine learning, continuous innovation in data storage and processing, real-time data processing.
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Segmentation & Regional Insights
The in-memory analytics market covered in this report is segmented –
1) By Component: Solution, Service
2) By Organization Size: Large Enterprises, Small and medium Enterprises (SME’s)
3) By Deployment Mode: On-premise, Cloud-Based
North America was the largest region in the in-memory analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-memory analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing volume of data is expected to drive the growth of the in-memory analytics market. Growing data volume is increasing demand for large space in the system’s memory which leads to obstruction and delay in the business process. In-memory analytics is used to minimise the data into samples or reduce the data to a small volume by not changing the actual meaning and increasing the query response time. For instance, the International Data Corporation (IDC), a US-based examiner of the consumer market, estimated that 64.2ZB of data was created or copied in 2020. The amount of data created throughout the next five years will be larger than twice the volume of data created since the advent of digital storage. This is likely to drive the in-memory analytics market growth during the forecast period.
Key Industry Players
Major companies operating in the in-memory analytics market report are Amazon Web Services Inc., Oracle Corporation, Qlik Technologies Inc., SAP SE, SAS Institute Inc., Software AG, International Business Machines Corporation, ActiveViam Ltd., Kognitio Holdings Ltd., MicroStrategy Incorporated, ADVIZOR Solutions Inc., EXASOL AG, SnappyData Inc., Teradata Corporation, GigaSpaces Technologies Inc., Information Builders Inc., Hitachi Ltd., Altibase Corp., GridGain Systems Inc., Pivotal Software Inc., TIBCO Software Inc., Altair Engineering Inc., Hazelcast Inc., MemSQL Inc., ScaleOut Software Inc., Aerospike Inc., Couchbase Inc., Redis Labs Inc., VoltDB Inc., Grid Dynamics International Inc.
The in-memory analytics market report table of contents includes:
1. Executive Summary
2. In-Memory Analytics Market Characteristics
3. In-Memory Analytics Market Trends And Strategies
4. In-Memory Analytics Market – Macro Economic Scenario
5. Global In-Memory Analytics Market Size and Growth
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31. Global In-Memory Analytics Market Competitive Benchmarking
32. Global In-Memory Analytics Market Competitive Dashboard
33. Key Mergers And Acquisitions In The In-Memory Analytics Market
34. In-Memory Analytics Market Future Outlook and Potential Analysis
35. Appendix
Top Major Players:
Amazon Web Services Inc
Oracle Corporation
SAP SE
SAS Institute Inc
Software AG
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