- Major factors driving the In-Memory Database (IMDB) Market include business analytics and web-based transactions.
- The numerous advantages of IMDB, such as fast data retrieval speed, attracts enterprises facing issues with large size database transactions and management.
- North America region accounts for the largest share of the market.
In-memory database refers to a database storage system that depends on the main memory storage of a computer or device for data storage. The global In-Memory Database (IMDB) Market is expected to grow at a CAGR of approximately 19% during the forecast period 2018-2023.
The market is led by technology giants such as Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Teradata Corporation (U.S). Microsoft is a leading player in the global In-Memory Database (IMDB) Market , which has designed the technologies known as Azure SQL Database, that enable enterprises to achieve performance improvements with various workloads such as transaction (online transaction processing (OLTP)), analytics (online analytical processing (OLAP)), and mixed (hybrid transaction/analytical processing (HTAP)).
IBM Corporation demonstrates it is a prominent market player by developing an in-memory database product known as solidDB. It uses two integrated database engines: the first one is a traditional disk-based engine and the other is a main memory engine that creates tables and stores permanently in main the memory. It also generates indexes for those created tables which are stored completely in the main memory.
Major factors driving the In-Memory Database (IMDB) Market include business analytics and web-based transactions that are aiding the market. The use of in-memory databases is increasing both among established users as well as new users.
Furthermore, the numerous advantages of IMDB, such as fast data retrieval speed, attracts enterprises facing issues with large size database transactions and management. The study indicates, on-demand segment is expected to grow at the highest CAGR owing to its cost-effectiveness, agility, and the customer can access the data only through latest version of analytics. The on-cloud segment accounts for the highest market share as it helps enterprises by reducing cost associated with IT infrastructure. Cloud deployment enables enterprises to focus on core business competencies. It provides enterprises with data protection and security, efficiently manages storage and privacy issues, offers data integrity and provides information related to governance to make the enterprise legally prepared.
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Some of the prominent players in the global In-Memory Database (IMDB) Market are Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Teradata Corporation (U.S), Amazon Web Services (U.S.), Tableau software (U.S.), Kognitio Ltd. (U.K.), VoltDB (U.S.), Datastax (U.S.), ENEA (Sweden), McObject LLC (U.S.), Altibase Corporation (U.S.), and others.
The global In-Memory Database (IMDB) Market is segmented by data type, processing type, application, deployment mode, organization size and vertical. By the data type, the market is segmented into relational, NoSQL, NewSQL. By the processing type, the market is segmented into Online Analytical Processing (OLAP), Online Transaction Processing (OLTP). By the application, it is segmented into transaction, reporting, analytics and others. And by deployment mode, the market is segmented into on-premise, on-demand, and on-cloud.
The global In-Memory Database (IMDB) Market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North America region accounts for the largest share of the market due to presence of major market players, technical expertise, and growing demand for in-memory database system for quick storage and fast transfer of files. The U.S. and Canada are dominating the North American market due to rising technological enhancements and established IT industry.
Asia Pacific region is expected to show the highest growth opportunities in the market owing to the ability to provide outsourcing service in real-time intelligence with advanced predictive analytics on different applications is aiding the market. The initiatives taken by developing countries in APAC region such as India, China, and others in digitization and promotion of the emerging technologies such as mobility, Internet of Things (IoT), cloud, Business Intelligence (BI), and analytics is boosting market growth.
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