According to the latest report by IMARC Group, titled "In-Memory Database Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026," the global in-memory database market size reached US$ 4.1 Billion in 2020. An in-memory database (IMDB) refers to a database storage system that stores computer data in the main memory of a computer rather than on a disk drive to produce quicker response times. The data in these systems is stored and managed in a compressed and non-relational format in the random-access memory (RAM). This eliminates the time required for querying data from a disk, ultimately resulting in faster transactions and multi-user concurrency. This form of database is more volatile and facilitates real-time analysis and data reporting in an efficient manner. As a result, it is widely utilized across various sectors, such as gaming, telecommunications and banking, financial services and insurance (BFSI).
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global In-Memory Database Market Trends:
The global market is primarily driven by the rising demand for real-time data monitoring and analytical data processing across numerous industry verticals. Consequently, the widespread adoption of big data analytics and the rising need for automation in numerous sectors has provided an impetus to the demand for IMBD across the globe. Additionally, numerous organizations are deploying IMDB as its fast data retrieval speed assists in large-sized database transactions and management. Coupled with the cost-effectiveness and agility of these database storage systems, this is expected to facilitate the uptake of IMDB in various corporations. Moreover, the increasing applications of IMDB in the healthcare sector are also creating a positive outlook for the market. These storage systems aid in the real-time analysis of electronic health records (EHR) to improve the speed and scalability of the entire process. Some of the other factors contributing to the market growth include the advent of non-volatile random-access memory (NVRAM) and the escalating preference for cloud-based applications. On account of the aforementioned factors, the market is expected to grow at a CAGR of 18.7% during 2021-2026.
- On the basis of the data type, the market has been divided into relational, NoSQL, and NewSQL.
- Based on the application, the market has been segmented into customer experience management, design and innovation, operation optimization, marketing management, real-time analysis and decision-making, and others.
- On the basis of the end user, the market has been bifurcated into SMEs and large enterprises.
- Based on the vertical, the market has been classified into BFSI, retail and e-commerce, government and defense, healthcare, manufacturing, telecom and ITES, and others.
- On the geographical front, the market has been segregated into North America (the United States and Canada), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and others), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia and others), Latin America (Brazil, Mexico and others), and Middle East and Africa.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players. Some of these players include Altibase Corporation, Amazon Web Services, Datastax, Enea AB, IBM Corporation, Kognitio Ltd., Mcobject LLC, Microsoft Corporation, Oracle Corporation, SAP SE, Tableau Software, Teradata Corporation, and VoltDB Inc.
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