In-memory Database Market is estimated to reach $9.34 billion by 2027 with a CAGR of 19.31% during the forecast 2022-2027. In-memory databases are purpose-built database management system that rely primarily on memory for data storage, in contrast to databases that store data on disk, solid-state drives (SSDs) or other computer data storage. In-memory data stores are designed to enable minimal response times by eliminating the need to access disks and are used for wide range of applications such as data analytics, transactions and others by performing different processing operations such as online analytical processing, online transaction processing respectively. In-memory databases are more volatile than traditional databases because data is lost when there is a loss of power or the computer’s non-volatile random-access memory (RAM) crashes, data can be more easily restored from the disks of a traditional database. This factors tend to bring significant growth in its demand across various industries which is analysed to propel its market growth during the forecast period.
In-memory Database Market Segment Analysis – By Database Type
By Database Type, the In-memory Database Market Report is segmented into Relational Database, SQL Database, NEWSQL Database, HyperSQL Database and Others. Relational Database is analysed to be the highest growing segment with a CAGR of 21.11% in the database type of In-memory database market during the forecast period 2022-2027. The relational database segment is inevitably gaining traction in the in-memory database market as it offers standard interfaces to integrate data and reporting. Relational databases have been dominating the software industry over a long period, providing various mechanisms for storing data, concurrency control and transaction. These types of in-memory database use the main memory for carrying out operational transaction processing. Furthermore, the increasing availability of in-memory solutions that hold content of relational database over memory such as in Redis (open source in-memory database) are anticipated to dominate the market during coming years. For instance, Facebook uses MySQL to store user data, but relies on Memcache (cache system) to get material quickly to users.
In-memory Database Market Segment Analysis – By End Use Industry
By End Use Industry, the In-memory Database Market Report is segmented into Government & Defense, Healthcare, BFSI, Retail, Transportation & Logistics, IT & Telecommunications, Manufacturing, Energy & Utilities and Others. IT & Telecommunication is analysed to be the highest growing segment with a CAGR of 22.19% among other end use industries during the forecast period 2022-2027. The IT and Telecommunication industry has shown some massive operational transformations in last few years. The data generated has been increasing exponentially across various industries, especially the IT and telecommunication industry. For instance, integration of In-memory databases helped a USD 60 billion telecom operator to scale up its business 40 times, from serving five million subscribers to 400 million. It also helped them save 90% of the OPEX and boosted transaction throughput by 13 times. In-memory database, systems are highly capable of doing management of enterprises on cloud, as they merge the data warehouse with clients’ business applications, thus increasing data throughput. It also provides real-time analytics, which can assist the organizations to foresee many of the issues and solve them beforehand. These factors tend to drive the demand of in-memory database systems in IT and Telecommunication industry, further fuelling its market growth.
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In-memory Database Market Segment Analysis – By Geography
North America is analysed to be the major region with a share of 35% in 2021 for the In-memory Database Market owing to the availability of leading market players for the In-memory Database Market coupled with increasing investments in the infrastructure development in this region. The North American region has been the hub of many technological developments and computing for In-memory Database market which is analysed to be major driver for its market growth in this region. Companies such as IBM Corporation, Oracle Corporation, SAP SE, Altibase Corporation, Aerospike Company, Microsoft Corporation, are all based out of the region. Moreover, with the rising expansion of cloud computing, Big Data analytics and the development of Internet of Things (IoT) in North America region are the major factors which has brought a significant growth in the demand for in-memory database systems in the region.
In-memory Database Market Drivers
Increasing demand of faster data processing systems across various industries is driving the demand of In-memory database systems
Increasing demand of faster data processing systems across various industries is driving the In-memory database Market. In-memory processing is the technology is generally used for faster processing of data by storing it in the main memory databases and is increasingly recommended to meet the Business Intelligence (BI) demands across various industries. Hence, the in-memory processing technology has helped the in-memory database market to gain traction among businesses of all sizes across industries, particularly in the field of data analytics. Speed of reading and writing data is the primary characteristic of in-memory data, which enables faster processing and improved response in business applications. These factors is analysed to drive the demand of in-memory database systems during the forecast period, further propelling its market growth.
Massive rise in the amount of data being generated from various industries is propelling the demand of In-memory database systems
With the increasing adoption of cloud based solutions and big data analytics across various industries, there has been a massive increases in the amount of data generated which is analysed to boost the demand of in-memory database systems for various applications such as transaction, reporting, analytics and many others. The BFSI vertical is expected to have the largest market size in the in-memory database market. For instance, real-time analytics has influenced the defense sector for making right decision in quick time. For this, tremendous data is needed to analyse the information about different parameters and to figure out opposition strengths and weakness or any movement, location tracking, and other historical information related to the war to make the right move at the right time during the war. Due to the rising threats, the government and defense have relied on immediate decision-making through real-time data processing. In-memory database technologies are playing a vital role to attain operational efficiency in these sectors. Thus, real-time data analytics of huge amount of data can be easily carried out with the help of in-memory database systems which is a significant factor for its growth during the forecast period.
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In-memory Database Market Challenges
Threat of data piracy is analysed to hamper the In-memory Database Market growth
One of the most important factor restraining the market growth of In-memory Database Market across the global is the threat of data piracy. As, the adoption of in-memory database systems is at its nascent stage, the development of high standard data security for these systems is not up to the mark. Various industries, such as BFSI, Government and Defense, IT and Telecommunication which stores very crucial information about the economy as well as important individual, the threat of data piracy is a major concern. This factor is analysed to bring major challenges in the adoption of In-memory Database systems, furthering hindering its market growth during the forecast period.
In-memory Database Market Landscape
Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the In-memory Database Market. In 2021, the market of In-memory Database industry outlook has been fragmented by several companies. In-memory Database top 10 companies include
Amazon Web Services
In August 2021, Amazon Web Services’ launched Amazon MemoryDB for Redis, a new fully managed database which is designed to enable micro-second latency and at the same time, flexible and friendly for an easier way to build modern applications with microservices without compromising on extreme performance and durability.In March 2020, Internet Initiative Japan (IIJ) Inc., one of Japan’s leading Internet access and comprehensive network solutions providers launched “IIJ GIO Component Service Database” an add-on to In-Memory Platform for SAP HANA. The new service will allow customers to access SAP HANA-an in-memory database from SAP-via IIJ’s cloud computing platform.
In November 2019, Software AG, an enterprise software company launched the availability of Terracotta DB, a new generation, distributed, In-Memory Database platform that delivers high-speed performance for combined operational and analytical processing.
Increasing demand of faster data processing systems coupled with massive rise in the amount of data being generated from various industries tend to drive the demand of In-memory database solutions during the forecast period 2022-2027.
Relational database is analysed to hold highest share 31.67% in 2021 as it offers standard interfaces to integrate data and reporting.
IT & Telecommunication industry is analysed to hold the highest share 35.21% in the forecast period owing to the increasing amount of data generated across various enterprises which tend to drive the demand of in-memory database solutions.
North America is analysed to hold the highest share in 2021 owing to the availability of leading market players for the In-memory Database Market coupled with increasing investments in the infrastructure development in this region.
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