What is the Historic and Current Scenario of the In-Memory Analytics Market?
The in-memory analytics market has seen considerable growth due to a variety of factors.
• In recent years, the market size of in-memory analytics has seen a significant expansion. The market is predicted to rise from $5.54 billion in 2024 to $6.87 billion in 2025, marking a compound annual growth rate (CAGR) of 23.9%.
Factors contributing to the growth during the historic period include the existence of intricate data structures, corporations prioritizing performance, the requirement for immediate insights, the increasing demand for interactive data examination, and the emergence of advanced analytics.
What are the Forecasted Growth and Key Factors of the In-Memory Analytics Market?
The in-memory analytics market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of in-memory analytics is anticipated to undergo significant expansion in the forthcoming years. Its growth trajectory projects an increase to $18.74 billion by 2029, boasting a compound annual growth rate (CAGR) of 28.5%.
The surge in growth during the forecast period is linked to the growing usage of real-time analytics applications, the adoption of in-memory analytics in data lakes, improved security and data safety measures, compatibility across multiple platforms, along with edge computing and decentralized analytics. Key trends anticipated throughout the same timeframe include the integration of cloud-based services, IoT analytics, automation in analytics and machine learning, perpetual innovation in data storage and processing, and real-time data processing.
What Are The Leading Drivers Of Growth In The In-Memory Analytics Market?
The anticipated increase in data volume is speculated to fuel the expansion of the in-memory analytics industry. The surge in data volume has resulted in a higher demand for substantial space within the system's memory, leading to blockages and delays in business operations. In-memory analytics come into play at this point, condensing the data into samples or reducing it to a small volume without altering its true meaning and improving the time for query response. For instance, the Global Information Storage Capacity asserts that by 2025, global data is projected to hit 163 zettabytes, with considerable expenditure on big data and analytics reaching $215.7 billion in 2021. The big data market's projected growth is to $103 billion by 2027. This trend indicates a potential impetus for the in-memory analytics market growth in the projected period.
How Are The Segments Defined Within The Global In-Memory Analytics Market?
The in-memory analytics market covered in this report is segmented –
1) By Component: Solution, Service
2) By Organization Size: Large Enterprises, Small And medium Enterprises (SME’s)
3) By Deployment Mode: On-premise, Cloud-Based
Subsegments:
1) By Solution: Data integration Tools, Data visualization Tools, Data Processing Engines, Analytical Applications
2) By Service: Consulting Services, Implementation Services, Support And Maintenance Services, Training Services
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How Are New Trends Expected To Influence The Growth Of The In-Memory Analytics Market?
The rise of technological innovation is visibly transforming the in-memory analytics market, a trend that has gained quite a bit of traction. Numerous prominent firms in this market are harnessing advancements in technology as a strategy to stay competitive, specifically through the exploration of cutting-edge RAM technology. For example, Korentec, a software development firm based in Korea, declared in January 2022 the inception of its first-ever in-memory computing system built upon Magnetoresistive Random Access Memory (MRAM), a global first. Samsung Electronics played a critical role in showcasing this pioneering invention, which melds data storage and processing within the memory infrastructure itself. This results in a significant decrease in power usage and an increase in operational efficiency. The novel "resistance sum" structure of the MRAM chip tackles issues generally seen in conventional memory models and elevates the performance capacity for AI applications.
Who Are the Key Players in the In-Memory Analytics Market?
Major companies operating in the in-memory analytics market include:
• Amazon Web Services Inc.
• Oracle Corporation
• Qlik Technologies Inc.
• SAP SE
• SAS Institute Inc.
• Software AG
• International Business Machines Corporation
• ActiveViam Ltd.
• Kognitio Holdings Ltd.
• MicroStrategy Incorporated
• ADVIZOR Solutions Inc.
• EXASOL AG
• SnappyData Inc.
• Teradata Corporation
• GigaSpaces Technologies Inc.
• Information Builders Inc.
• Hitachi Ltd.
• Altibase Corp.
• GridGain Systems Inc.
• Pivotal Software Inc.
• TIBCO Software Inc.
• Altair Engineering Inc.
• Hazelcast Inc.
• MemSQL Inc.
• ScaleOut Software Inc.
• Aerospike Inc.
• Couchbase Inc.
• Redis Labs Inc.
• VoltDB Inc.
• Grid Dynamics International Inc.
What Is The Most Dominant Region In The In-Memory Analytics Market?
North America was the largest region in the in-memory analytics market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-memory analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
