In-Memory Analytics Market

In-Memory Analytics Market Size - 2026

The global in-memory analytics market garnered $1.956 billion in 2018, and is expected to reach $11.858 billion by 2026, witnessing a CAGR of 25.40% from 2019 to 2026.. In-memory analytics helps organization to improve the overall speed in the BI system and provides different business intelligences clients with quicker solutions as compared to traditional disk based BI systems, especially for queries that take a long time to process in a large database. Furthermore, rise in need for self-service business intelligence and advanced technologies are the major factors that drive the growth of the market. Numerous benefits associated with in-memory analytics include real-time insights, fast processing, and safety & security features provided to the data of the organization. 

Key Market Drivers: 

The in-memory analytics market trends include digital transformation using real-time analytics and growing volume of data are the major factors that drive the growth of the market. In addition, rise in trends for self-service BI tools and technological advancement in computing power fuels the growth of the market. However, lack of awareness among various industry verticals is expected to impede the market growth. Furthermore, improved scalability and security with cloud-based in-memory analytics and higher adoption by small and medium enterprises (SMEs) are expected to present major opportunities for the expansion of the market in the future.

The predictive asset management segment dominated the in-memory analytics market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to increase in the adoption of predictive asset management solution for analyzing historical and real-time data from various sites for helping organizations to predict the excepted failures before it happens. Furthermore, the fraud & security management is expected to grow at a significant CAGR during the forecast period, owing to the rise in cyberattacks and data security breaches in enterprises.

Report Coverage: 

The report focuses on the growth prospects, restraints, and trends of the in-memory analytics market analysis. The study provides Porter’s five forces analysis to understand the impact of various factors such as bargaining power of suppliers, competitive intensity of competitors, threat of new entrants, threat of substitutes, and bargaining power of buyers on the in-memory analytics market.

Market Segmentation:

The in-memory analytics market is segmented on the basis of component, deployment mode, organization size, application, industry vertical, and region. In terms of component, it is bifurcated into solution and services. In terms of deployment mode, the market is divided into on-premise and cloud. As per organization size, it is classified into large enterprises and small & medium enterprises. 

In terms of application, the market is categorized into fraud & security management, sales & marketing management, predictive asset maintenance, risk & compliance management, supply chain management & operations, and others. By industry vertical, it is divided into BFSI, IT & telecom, retail, healthcare, energy & utilities, manufacturing, government & defense, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

The report analyzes the profiles of key players operating in the market. These include Amazon Web Services, Inc., SAP SE, Oracle Corporation, SAS Institute Inc., International Business Corporation, Hitachi, Ltd., Software AG, MicroStrategy Incorporated, Qlik Technologies and Kognito Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.

Top Impacting Factors:

Digital Transformation Using Real-Time Data Analytics

Digital transformation is playing a major role in changing the external and internal facing technology of the business. In addition, real-time data is core form of digital transformation as it plays a major role in driving innovation, business strategies, and for automating critical business process. Furthermore, companies focus on providing real-time data for increasing the performance, resiliency, and availability of data for the business process. In addition, digital transformation provides workload optimization, which helps organizations to decrease their latency and provide faster response time to their client. Furthermore, the need to visualize, store and analyze growing volume of data in real time is forcing companies to find a suitable solution, which can improve decision making capabilities of the organization. For instance, according to a survey conducted by Amazon in U.S in 2017, the use of digital transformation has increased the revenue of the company by 25% as compared to 2016. Thus, digital transformation using real-time analytics is one of the major factors that drives the growth of the in-memory analytics market.

Rise in Volume of Data

Organizations are struggling to obtain any significant insights from their growing data, owing to which the adoption of in-memory analytics has increased in different organizations. For instance, according to a survey conducted by IDC in the U.S. in 2018, data volumes in organizations are growing at a speed of 63% per month, with 12% of organizations reporting over 100% growth every month. Furthermore, organizations are now adopting various cloud-based technology and analytics for storing and reserving data. In addition, in-memory analytics helps organization to store data in any available format and provide the available information required by the organization. In addition, it provides organizations with different features to examine large amount of data to uncover the hidden patterns and to gain meaning insights from this data. This, drives the growth of the market.

Key Benefits for Stakeholders:

• The study provides an in-depth analysis of the global in-memory analytics market along with the current & future trends to elucidate the imminent investment pockets.
• Information about key drivers, restrains, and opportunities and their impact analysis on the market size is provided in the report.
• Porter’s five forces analysis illustrates the potency of buyers and suppliers operating in the industry.
• The quantitative analysis of the global in-memory analytics market from 2019 to 2026 is provided to determine the market potential.

 In-Memory Analytics Market Report Highlights