Global In-Memory Database Market - Growth, Trend and Forecasts (2018 - 2023)
The In-Memory Database Market is expected to witness a CAGR of 19%, over the forecast period (2018-2023).
The In-Memory Database Market is considered as the next step after traditional databases. Although the technology has its own drawbacks but it is believed by many that the cons of the technology will soon be outnumbered. Indications of its expansion can be witnessed by increasing adoption of it across various industry verticals. Not only IT and Telecommunication are making use of the technology, but also the industries like BFSI and retail are integrating this into their operations as can be seen via different use cases. All of this has been the consequence of increased adoption of technology which is eventually driven by innovation.
Integration of technology within operations promoting In-memory databases
Technological innovations have been at the helm of many industrial transformations in the recent past. Implementation of these technologies in the most traditional businesses has been intensifying the competition for a while now. At first, it was data analytics which brought disruption and now it is the real time data analytics which is redefining operations of various enterprises. The reason for the enhanced competition is not just the existence of technology, but its access to every player. In-memory computing (IMC) has an important role in accelerating the real time analytics adoption. The adoption of IMC was 35% in 2015 which was increased from 10% in 2012. In-memory databases are an essential part of the IMC. This increased adoption of IMC and hence of In-memory databases has been driven by SME’s gaining access to these technologies and consequently making their operations efficient enough so that they are well equipped to compete with the leaders in the market on a level playing field which in turn is intensifying competition.
In-Memory Database Market Regional Analysis
The North American market is the largest market but the focus is shifting towards the fastest growing region, which in this market is the Asia-Pacific region. Economies like India and China are adopting the technology for more efficient operations. Industries like retail are being driven by e-commerce into adapting technology for their operations and this has attracted the respective market leaders in the country. Recently Walmart Inc., which is a major retail player acquired the Indian e-commerce leader Flipkart, which will eventually bring a lot investment in the market. All of this is set to increase the data production in operations which will consequently fuel the demand for in-memory databases as they enhance the agility of operations by faster data extraction and that too in real time. One of the major reasons is that the North American region is almost saturated and to counter the competition, the players are looking upcoming regions to diversify.
Major Players: IBM CORPORATION, MICROSOFT CORPORATION, ORACLE CORPORATION, SAP SE, FACEBOOK, TELEFONAKTIEBOLAGET LM ERICSSON, BELL LABS (ALCATEL LUCENT), TIBCO SOFTWARE INC., AEROSPIKE COMPANY, GRIDGAIN SYSTEMS, INC., TERACOTTA INC. (SOFTWARE AG), PIVOTAL SOFTWARE, INC., EXASOL, REDIS LABS, ALTIBASE CORP., (CWI) CENTRUM WISKUNDE & INFORMATICA, HASSO-PLATTNER-INSTITUT, RAIMA, INC., VOLTDB, INC., COUCHBASE, DATASTAX, INC., MCOBJECT LLC, and MEMSQL INC., amongst others.
Key Developments in In-Memory Database Market
May 2018: New Relic, Inc. and AppDynamics have upgraded their APM tools with display kubernetes time series data, and monitoring alerts that synchronized with IT automation tools.
November 2017: Dynatrace LLC acquired Qumram, which offered advanced session replay technology for mobile and web applications for undisclosed accounts
Reasons to Purchase In-Memory Database Market Report
The increasing complexity of SLA management triggered by enhanced use of mobile applications is expected to drive the growth of the market.
The report analyzes the various perspectives of the market with the help of Porter’s five forces analysis
The type of security and solution that are expected to dominate the market
The regions are expected to witness fastest growth during the forecast period
Identify the latest developments, market shares and strategies employed by the major market players.
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