The global in-memory analytics market exhibited strong growth during 2015-2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 23% during 2021-2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
In-memory analytics query data in random access memory (RAM) can be used by multiple users across different applications rapidly, securely, and concurrently. It provides deep insights with speed and precision, resulting in informed and proactive decisions. It also increases revenue, manages risks, and assists in new product or service innovation. Consequently, organizations worldwide are adopting in-memory analytics as it helps them minimize the time spent on query analysis, cube building, aggregate table designing, and other time-consuming tasks. It further enables them to simplify access to data sources, deliver immediate actions and responses, and meet evolving consumer demands.
In-Memory Analytics Market Trends:
- A considerable rise in the adoption of digital technology to transform services or businesses is resulting in a massive proliferation of data in databases. This acts as a primary factor promoting the need for in-memory analytics for fast access to information and easy analysis. Moreover, it is a cost-effective alternative to data warehouses for small and medium-sized enterprises (SMEs) that lack the expertise and resources to construct a data warehouse. In-memory analytics provides the ability to analyze data of varied sizes and complexities with unprecedented speed at an affordable cost. Apart from this, the growing utilization of online banking services is positively influencing the application of in-memory analytics in the banking, financial services, and insurance (BFSI) sector worldwide for risk and transaction management and detection of fraud payments. Furthermore, it is utilized in applications involving geographic information system (GIS) processing. The widespread use of GIS processing for real-time directions on traffic congestion, recommended routes, and traffic hazards in the logistics and transportation industry is anticipated to drive the market.
Key Market Segmentation:
- IMARC Group provides an analysis of the key trends in each sub-segment of the global in-memory analytics market, along with forecasts at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, application, organization size and vertical.
Breakup by Application:
- Customer Experience Management
- Design and Innovation
- Operation Optimization
- Marketing Management
- Real-Time Analysis and Decision-making
Breakup by Organization Size:
- Small and Medium Enterprises
- Large Enterprises
Breakup by Vertical:
- Retail and E-commerce
- Government and Defense
- IT and Telecommunication
Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ActiveViam, Amazon Web Services Inc., Hitachi Ltd., Information Builders Inc. (Tibco Software Inc.), International Business Machines Corporation, Kognitio Ltd, Microstrategy Incorporated, Oracle Corporation, Qlik Technologies, SAP SE, SAS Institute Inc. and Software AG. Key Questions Answered in This Report:
- How has the global in-memory analytics market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global in-memory analytics market?
- What are the key regional markets?
- What is the breakup of the market based on the application?
- What is the breakup of the market based on the organization size?
- What is the breakup of the market based on the vertical?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global in-memory analytics market and who are the key players?
- What is the degree of competition in the industry?