Rise in analytical and transactional needs across several industrial sectors is expected to be a key factor for the global in memory computing market growth over the forecast period. Increasing big data adoption is anticipated to surge industry demand over the next seven years. The industry is characterized by technological development and is slowly shifting from traditional disk-based to Dynamic Random Access Memory (DRAM) based in memory computing (IMC).
Hardware innovation such as multi-core architecture, parallel server, and NAND flash memory are expected to contribute towards the future growth. In addition, developments in software segment such as column centric database, compression techniques and handling aggregate table are also expected to catalyze industry growth over the next few years. Rising need for accuracy and speed is also estimated to encourage industry growth over the foreseeable future.
In-memory computing is primarily used for information storage. It considerably reduces latency in data transactions and analyzes data in real time to enhance decision making. RAM, being a primary memory, increases data processing speed making it a faster way of analysis. These IMC capabilities can overcome challenges of traditional business intelligence and data warehouse.
Rising need for rapid data processing is also anticipated to catalyze industry growth over the forecast period. Increasing usage of internet and mobile banking requires large data processing, which is also expected to provide avenues for industry growth.
Growing trend towards increasing the RAM size is also expected to provide avenues for IMC growth. Several government initiatives such as Unique Identification Card (UID) in order to increase digitization at national level may catapult need for IMC, thereby increasing industry demand. High adoption of 64 bit computing is also expected to impel industry demand over the foreseeable future. Rise in number of end-users has resulted in slow performance causing delay in decision making and responses. This is further expected to spur the product demand over the forecast period. .
Organizations need technology that can store huge amount of data in less space and analyze the same at a high speed. The ability of in-memory computing technology to provide speed, scalability, flexibility and availability at competitive cost is estimated to be a key driver for future growth.
Lack of standards to migrate from traditional system to new IMC compliant system may lead to compatibility issue, which is also expected to be a key challenge faced by the industry. High migration cost from traditional to sophisticated system is also anticipated to pose a challenge.
Growing need to manage huge data may instigate users to increase RAM size, thereby increasing the cost. Data security is also a major challenge with increasing cyber theft. Increasing use of RAM and DRAM has led to high system cost, which may also hamper demand over the next seven years.
The market can be classified in to in memory data management system and application platform. Over the past few years, data management system segment has gained considerable market share, and is expected to witness further growth over the forecast period. These systems are implemented in several sectors such as BFSI, retail, telecommunication and government, wherein BFSI is anticipated to exhibit high growth potential owing to increased demand across the net and mobile banking segment.
On account of technological advancements, North America has been an early adopter, and is expected to contribute towards a significant market share over the forecast period. Increasing investment by several incumbent technology players in Asia Pacific is expected to be key driver for regional growth over the next seven years.
Key industry participants include SAP SE, Altibase, IBM Corporation, HCL Technologies Limited, Oracle Corporation, ScaleOut Software, GridGain, Software AG, and Exasol.
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