In-memory databases are faster than traditional databases which is a part of the computer main memory and need just fewer instructions to access the data for reading and writing. In-memory databases are primarily used in business analytics and big data management where there is need for fast data access and storage. Another advantage of in-memory database system is its application in real-time embedded systems which are highly resource constrained which require small memory and have low processor computational capabilities.
Primary factor which benefit organizations through the use of in-memory database was the performance.
Market drivers & challenges:
Business analytics and Web-based transactions are the most important drivers for the global In-memory database market.The use of in-memory databases is increasing both among established users as well as new users.In-memory databases market is expected to witness great innovations in terms of technological advancements and increasing demand from different verticals using database software. Already in-memory database solutions are finding applications in every database warehousing and analytics application and is witnessing increasing adoption by private sector organizations as well as government organizations.
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Database using in-memory processing delivers faster data-retrieval speeds, which attracts companies facing hardship with large size database transactions and management. The enhanced performance optimization and transformational business potential of in-memory database are expected to increase in demand for the technology. Other factors driving the demand for in-memory database management includes surge in big data, declining price of RAM which will result in replacement of physical storage of memory intensive architectures.
Global In-memory Database market: Segmentation
Global In-Memory Database Market is segmented based on the data type, application, vertical and region.
On the basis of the data type the global In-memory database market is segmented into relational data type, SQL, and NEWSQL.
On basis of application global In-memory Database market can be segmented to transaction, reporting and analytics.
On the basis of vertical global in-memory database is segmented into BFSI, retail, telecomm, health care, energy, education, automobile, public sector and others.
On basis of region global In-memory Database market is segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East and Africa (MEA).
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North America region is dominant in In-memory Database market due to growing demand from enterprises and technical experts in North America and followed by Western Europe during the period. Asia-Pacific region is expected to grow at a faster rate during the forecast period.
Key Market Players:
Some of the Key players in In-memory database market include IBM Corporation, Oracle Corporation, Amazon web services, Teradata Corporation, SAP SE, VoltDB Inc., Altibase Corp., Microsoft corporation, Tableau Software and Software AG.
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