The global in memory computing market is expected to show appreciable growth over the forecast period, on account of the rising analytical and transactional needs across several industrial sectors. 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 innovations, such as multi-core architecture, parallel server, and NAND flash memory are expected to contribute to future growth. In addition, developments in the 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. The 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 the challenges of traditional business intelligence and data warehouse. The 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. The growing trend towards increasing the RAM size is also expected to provide avenues for in-memory computing (IMC) market growth. Several government initiatives, such as the Unique Identification Card (UID), to increase digitization at the national level may catapult the need for IMC, thereby increasing industry demand.
High adoption of 64 bit computing is also expected to impel industry demand over the foreseeable future. A rise in the number of end-users has resulted in slow performance causing delays 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 amounts 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 a competitive cost is estimated to be a key driver for future growth. Lack of standards to migrate from traditional systems to new IMC compliant systems may lead to compatibility issues, which is also expected to be a key challenge faced by the industry. High migration cost from traditional to the 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 the use of RAM and DRAM has led to high system costs, which may also hamper demand over the next seven years. The in memory computing 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 in memory computing market share over the forecast period. Increasing investment by several incumbent technology players in Asia Pacific is expected to be a 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.
GET A FREE SAMPLE
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
ESOMAR certified & member
Leading SME award by D&B
"The quality of research they have done for us has been excellent."
In order to ensure business continuity amidst the COVID-19 crisis, business organizations, especially in highly affected countries are allowing their employees to work from home. The increase in people working from home has led to a surge in demand for online video viewing, downloading, and communication through video conferencing, all of which are leading to increased network traffic and data usage. COVID-19 shall accelerate the demand for agile and flexible work styles and further push the adoption of communication services that tend to improve work-life balance. On the flip side, telecom regulators worldwide have postponed their plans of 5G spectrum auction amidst the global pandemic. This is expected to have an impact on the commercialization of commercial 5G standalone deployments and revenue generated through 5G services. The ongoing pandemic has forced telecom operators worldwide to test their network resiliency and revisit their planned investments, especially in 5G technology. The report will account for Covid19 as a key market contributor.
We value your investment and offer free customization with every report to fulfil your exact research needs.