According to the latest report by IMARC Group, titled "In-Memory Computing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the global in-memory computing market size reached US$ 16.3 Billion in 2022. In-memory computing (IMC) is the process of storing information in the random access memory (RAM) of the dedicated servers instead of comparatively slower disk drives. It stores data in numerous clusters to deliver real-time processing insights. It is generally complemented by on-disk or solid-state storage for archiving, recovering, and accessing historical data. It offers faster processing and analyzing of large data sets, real time decision making, reduced latency, and improved performance for transaction processing.
Global In-Memory Computing Market Trends:
IMC is employed in the banking, financial services and insurance (BFSI) industry to analyze transaction data, detect fraudulent activities quickly, and prevent financial losses. This, coupled with the increasing number of cyberattacks, money laundering, cyber frauds, and other financial scams over the internet, represents one of the major factors augmenting the market growth around the world. Moreover, the rising use of IMC in the gaming industry to store and manage data, such as images, videos, and sound files and ensure fast and efficient access to these assets is bolstering the growth of the market. In addition, the growing utilization of IMC in the healthcare sector to monitor patient data in real time, provide insights into patient health, and identify potential issues before they become critical is influencing the market positively. Apart from this, the integration of big data, the internet of things (IoT), analytics, machine learning (ML), and artificial intelligence (AI) in IMC to enable fast and efficient data processing and scalability is creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 41.3 Billion by 2028, exhibiting a CAGR of 16.6% during 2023-2028.
- On the basis of the component, the market has been bifurcated into in-memory data management solutions and services (databases and data grids) and in-memory computing platforms (server and analytics applications). Presently, in-memory data management solutions and services (databases and data grids) hold the largest market share.
- Based on the organization size, the market has been segmented into small and medium, and large enterprises. Small and medium enterprises currently account for the biggest market share.
- On the basis of the vertical, the market has been classified into BFSI, healthcare, IT and telecom, government, and others. BFSI currently exhibits a clear dominance in the market.
- Region-wise, the market has been divided into North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others); Europe (Germany, France, United Kingdom, Italy, Spain, Russia and others); Latin America (Brazil, Mexico and others); and the Middle East and Africa. Amongst these, North America (the United States and Canada) enjoys the leading position in the market.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Altibase Corp., Fujitsu Ltd., GigaSpaces Technologies Inc., GridGain Systems Inc., HCL Technologies Limited, International Business Machines Corporation, Microsoft Corporation, NTT DATA Corporation (Nippon Telegraph and Telephone), Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, and TIBCO Software Inc. (Vista Equity Partners).
|Base Year of the Analysis
||Component, Organization Size, Vertical, Region
||Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Altibase Corp., Fujitsu Ltd., GigaSpaces Technologies Inc., GridGain Systems Inc., HCL Technologies Limited, International Business Machines Corporation, Microsoft Corporation, NTT DATA Corporation (Nippon Telegraph and Telephone), Oracle Corporation, SAP SE, SAS Institute Inc., Software AG and TIBCO Software Inc. (Vista Equity Partners)
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