JERSEY CITY, New Jersey, June 15, 2020
- The increased implementation of Real-Time Analytics to track the digital transformation and the latest technological advancements in in-memory analytics and processing vast volumes of data will foster market growth
JERSEY CITY, New Jersey, June 15, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "In-Memory Analytics Market by Component (Software, Services), by Application (Sales & marketing optimization, Supply chain optimization, Product & process management, others), by Organizational Size (SMBs, Large Enterprises), By Industry Vertical (BFSI, Telecommunications and IT, Retail and e-commerce, Manufacturing, Healthcare and life sciences, Transportation and logistics, Government and defense, Energy and utilities, Media and entertainment)". According to the report, Global In-Memory Analytics Market was valued at USD 1.89 Billion in 2019 and is projected to reach USD 10.85 Billion by 2027, growing at a CAGR of 24.4% from 2020 to 2027.
This report provides detailed analysis of the growth trends among each of the segments as well as accurate forecasts in terms of the value and volume.
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Browse in-depth TOC on "In-Memory Analytics Market"
176 – Tables
41 – Figures
Global In-Memory Analytics Market Overview
The increased implementation of Real-Time Analytics to track the digital transformation is the crucial aspect of the rise in the market revenue of In-Memory Analytics. One of the unnoticed factors in successful digital transformation journeys is the incorporation and use of real-time data and analytics to start metrics and track progress. This aspect is quite important because research studies have found out that 70% of companies fail in the establishment of the digital transformation process. For companies to achieve victory in digital transformation, they need to change the metric system. This is done by the executive department, which utilizes the metrics to measure company performance. The parameters should be specific and should include the rate of operationalization of the ongoing projects, the amount being invested in the plans, the participation of data links and sources, and the merging of the entities. To make robust adjustments, the metrics must be based on Real-time data. The necessity of Real-time data ensures these types of metrics can be precise and informative to the business. The benefits obtained of such a plan and amalgamation of real-time digital transformation metrics can thus be thoughtful. Digital transformation is now imperious for companies globally.
The latest technological advancements in in-memory analytics and processing vast volumes of data will foster market growth. The in-memory processing is the next game-changer in data analytics and Business Intelligence (BI). With companies dealing with terabytes of data, it is crucial to invest in technology that can quickly process large data sets. In-memory processing is the processing of data using RAM or flash memory. It is an upcoming technology, that is substituting disk-based processing since it is adaptable to the demands of BI and data analytics. The benefits attained is speed. The bottlenecks obtained while working with disk-based processing are eliminated when working with RAM or flash memory. Therefore, business sectors can investigate large datasets in real-time, which provides better insights from data analytics.
The concept of high -performance memory at a low cost per bit will pave the way for lucrative opportunities in the market. The Hybrid memory system is required, which combines a small amount of Dynamic Random-Access Memory (DRAM) in in-memory analytics with a large share of stored memory. To implement the hybrid memory system, smart management techniques are required. The management is handled by hardware, without the need for software or operating system. This is different from heterogeneous systems where software manages the data settlement and movement between various rows of memory. Rambus built a modular hardware platform to allow research on smart management techniques that exhibit performance comparable to that of pure DRAM systems. The enhanced security and scalability with the use of Cloud-based In-Memory Analytics is achieved. Cloud computing offers access to secure, scalable computational resources. Cloud analytics is quite reliable than on-premise systems in times of the data breach. A security issue detected can be within hours or minutes with Cloud security. The data is more trusted, confidential, and secure with cloud computing. The major players in the market are SAP (Germany), Oracle (US), Kognitio (UK), MicroStrategy (US), SAS Institute (US), ActiveViam (UK), IBM (US), Information Builders (US), Hitachi (Japan), Software AG (Germany).
Verified Market Research has segmented the In-Memory Analytics Market on the basis of Component, Organization Size, Industry Vertical, Applications and Geography.
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