According to a report by Grand View Research, Inc.,
global in-memory
analytics market is estimated to value USD 6.62 billion by 2025 growing
at a CAGR of 23.8 % during the forecast period (from 2018 to 2025). Growing
requirement for self-service business intelligence and advanced technologies to
obtain real-time information can amplify demand for in-memory analytics. The implementation
of in-memory analytics can offer multiple benefits such as faster processing, enhanced
safety & security, real-time insights, and many others. Rising emphasis on
huge storage of complex data, innovation, and cost optimization in
organizations is anticipated to propel the growth of this market in the
forthcoming years.
On the other hand, a flawless functionality of
in-memory analytic tools requires experts at all levels. The lack of
professional experts to monitor operational activities of such advanced tools may
hinder market growth. Rising concerns regarding data security and data privacy
can further obstruct market demand. However, growing need to protect end-users
from potential security breaches owing to increasing number of cyber-attacks
can further impel the market growth. In addition, high demand for real-time
analysis of complex information in organizations to make better operational and
marketing decisions can also augment market growth during the forecast period.
Browse full research report on In-Memory Analytics Market: www.grandviewresearch.com/industry-analysis/in-memory-analytics-market
The in-memory analytics market is segregated on the
basis of application, end-use, vertical, and region. Based on application, the
market is classified into design & innovation, operational optimization,
marketing management, customer experience management, real-time analysis and
decision-making, and others. In 2016, the customer experience management
segment dominated the market. It is anticipated to expand further during the
forecast period due to intense competition among developing organizations. On
the contrary, the operational optimization segment is predicted to grow
steadily over the coming years owing to demand for advanced real-time
visibility of operations such as process, product, and workforce management.
Based on end-use, the market can be bifurcated into
large enterprises and Small & Medium Enterprises (SMEs). The SMEs segment
is estimated to display a substantial growth during the forecast period.
Growing inclination towards advanced analytical tools over the conventional ones
can augment this growth. Based on vertical, the market can be segmented into
retail & e-commerce, government & defense, healthcare, manufacturing,
telcos & ITES, BFSI, and others.
Browse more reports of this category
by Grand View Research: www.grandviewresearch.com/industry/emerging-and-next-generation-technologies
Regional segmentation includes Europe, Asia Pacific,
North America, Latin America, and Middle East & Africa (MEA). In 2016,
North America region dominated the global market and is expected to continue
its dominance during the forecast period. Presence of major market players such
as Software AG, SAP SE, and Kognitio Limited can fuel the region’s development.
In addition, availability of strong wireless connectivity in the region is also
likely to fuel the adoption of in-memory analytics in multiple sectors.
Some of the leading companies offering in-memory
analytics are Amazon Web Services, Oracle, SAP SE, International Business
Machines (IBM), and Software AG. Most companies are likely to increase R&D
investments to develop advanced solutions and gain competitive advantage over
other rivalry companies. For instance, a team of scientists at IBM recently
developed a new in-memory
computing solution called mixed-precision
in-memory computing to support businesses
in training Artificial Intelligence
(AI) systems. This new hybrid concept can easily run analytics and Machine
Learning (ML)
applications and combines
computational memory unit with von Neumann machine. Thus, this system can
benefit from both the energy-efficiency
of in-memory computing and high precision of digital computing.
About Grand View
Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more information: www.grandviewresearch.com
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