In-Memory Computing Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

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According to The Business Research Company’s In-Memory Computing Global Market Report 2024, The in-memory computing market size has grown exponentially in recent years. It will grow from $22.89 billion in 2023 to $27.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%.  The  growth in the historic period can be attributed to increased data volumes, increased demand for real-time insights, digital transformation initiatives, explosion of big data, cybersecurity needs..

The in-memory computing market size is expected to see exponential growth in the next few years. It will grow to $61.32 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%.  The growth in the forecast period can be attributed to accelerated digital transformation, expansion of cloud-based solutions, greater emphasis on real-time decision support, financial sector applications, database performance optimization.. Major trends in the forecast period include edge computing requirements, big data handling, iot data processing, ai and machine learning, enhanced customer experience..

An increase in data volumes across industries is expected to propel the growth of the in-memory computing market going forward. The rise in data volumes, the migration of data to a cloud-based solution, and the growing number of IT users have increased data volume creation. With more employees likely to be hired during a period of economic growth, it necessitates more software subscriptions that result in adding more data. This growing demand for data has increased the demand for and use of in-memory computing, which enables data to be stored in RAM across a cluster of computers and processed in parallel under an easy process with a shorter duration. For instance, in January 2022, according to the First side Guide, Serbia-based information and technology provider company, predicted the total quantity of data produced worldwide to be over 79 zettabytes in 2021. Furthermore, according to an article published by Forbes, in December 2020, the volume of data created, generated, recorded, replicated, and consumed worldwide increased by nearly 5,000%, from 1.2 trillion gigabytes to 59 trillion gigabytes. Therefore, the increase in data volumes will drive the growth of the demand for the in-memory computing market.

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The in-memory computing  market covered in this report is segmented –

1) By Component: Solutions, Services
2) By Deployment: Cloud, On-premises
3) By Organization: Large, SME’s
4) By Application: Risk Management and Fraud Detection, Sentiment Analysis, Geospatial/GIS Processing, Sales and Marketing Optimization, Predictive Analysis, Supply Chain Management
5) By End Users: BFSI, IT and Telecom, Retail and eCommerce, Healthcare and Life Sciences, Transportation and Logistics, Government and Defence, Energy and Utilities, Media and Entertainment, Others End users

Technological advancement is a key trend gaining popularity in the in-memory computing market. Major companies operating in the in-memory computing market are advancing in their new technologies and developing AI acceleration chips-based, in-memory calculations that work as high-performance parallel computation machines explicitly designed for efficient processing. For instance, in January 2022, Samsung Electronics, a Korea-based, advanced semiconductor technology company, announced its demonstration of the world’s first MRAM (Magnetoresistive Random Access Memory)-based in-memory computing. The researchers successfully developed an MRAM array chip that illustrates in-memory computing by replacing the standard, current-sum in-memory computing architecture with a new, resistance sum in-memory computing architecture that solves the issue of individual MRAM device small resistances

The in-memory computing market report table of contents includes:

1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis

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