Global In-Memory Database Market Overview
The Global In-Memory Database Market is estimated to register a CAGR of over 19%, during the forecast period (2019-2024). The In-Memory Database Market is considered as the upgraded 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.
– The in-memory database market is being driven by numerous factors, as it is capable of resolving problems of real-time data analytics of Big Data and acceleration of digital transformation for businesses.
– The data generated by these devices is capable of providing unique data pertaining to individuals that can be leveraged to gain insights, which prove to be game-changers for industries. Smartphones, as well as various trends, like IoT, are majorly contributing to the increasing data production.
– The wide adoption of these IoT devices across industries, coupled with other trends, like AI and machine learning, is witnessing increased penetration, in order to leverage this data in real time, in-memory databases play a vital role.
Company Profiles, IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, TIBCO Software Inc, Aerospike Inc, GridGain Systems Inc, Pivotal Software Inc, Redis Labs Inc, Altibase Corp, Raima Inc, VoltDB Inc, Couchbase Inc, DataStax Inc, McObject LLC, MemSQL Inc
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Scope of the Report
In-Memory Database Market is being used not only in IT and Telecommunication industry for 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.
Key Market Trends
Telecommunication End-User Industry to Hold Significant Market Share
– The telecommunication industry has been going through some massive operational transformations. The data generated has been increasing, exponentially. One of the major reasons behind this can be the upgrade in telecom technologies and the technology companies coming up with disruptive over-the-top offerings.
-Telecom operators usually face the problem of scalability at desired throughput. The challenge is to scale new services with the scope of telecommunication expanding from just communication. 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 are not only leveraged by mobile network operators, but also other members of the supply chain, like original equipment manufacturers and infrastructure providers.
– 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.
North America Region to Hold Significant Share
– The North American region has been at the helm of many technological developments, and computing has been one of the key drivers. In the market studied, majority of the landscape is dominated by North American players. The legacy of technological development and innovation has been a major driver. Companies, like IBM Corporation, Oracle Corporation, SAP SE, Altibase Corporation, Aerospike Company, Microsoft Corporation, are all based out of the region.
– The Canadian market is anticipated to take the center stage in the region. As the country includes a considerable number of enterprises in various industrial sectors, such as retail, IT, or any other industry. Even the US industries have a substantial part of their revenue coming from their operations in Canada.
– The in-memory technology is not a newly-developed technology, however, its adoption across enterprises occurred only recently. Since its adoption has begun fairly recently, the North American region has been a lucrative one for the vendors of the market, and all the major players are looking to flood the market with low price and high-performing offerings.
The In-Memory Database Market is consolidated. The wide adoption of these IoT devices across industries, coupled with other trends, like AI and machine learning, is witnessing increased penetration.
– Feb 2019 – Oracle data cloud announced that the media rating council (MRC) granted accreditation to moat analytics, for its ability to detect and filter sophisticated invalid traffic (SIVT), like the ad fraud generated by bot networks in mobile apps.
– May 2018 – SAP SE has introduced SAP S/4HANA Cloud which is an Intelligent ERP with built-in machine learning and AI capabilities that helps to streamline business processes with simplified user experience. With the S/4HANA Cloud, businesses will be able to notify the latest innovations through quarterly updates, granting them access to the latest innovations in areas such as predictive analytics.
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