The global in-memory computing market size reached US$ 16.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 41.3 Billion by 2028, exhibiting a growth rate (CAGR) of 16.6% during 2023-2028, according to the latest report by IMARC Group.
In-memory computing (IMC) refers to the process of storing information or data in the main random-access memory (RAM) instead of complicated relational databases operating on slower disk drives. It helps users analyze a vast amount of data quickly and reduces the overall latency of storage, thereby enabling faster decision-making and lowering costs.
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Market Trends:
The primary factor driving the global IMC market is the numerous advantages offered by IMC. It helps reduce the load on the organization’s information technology (IT) infrastructure and overall operational costs while freeing up resources, enhancing efficiencies and boosting business insights. Consequently, it is used by banking, financial services and insurance (BFSI) organizations for fraud detection, risk management and financial analysis. Besides this, the exponential growth of big data has increased the demand for IMC due to its ability to archive, recover, deliver and access historical data. Furthermore, the development of peer-to-peer transactions, digital currency, and mobile wallets have further facilitated the market.
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The report has segmented the market on the basis of component, organization size, vertical and geography.
Breakup by Component:
In-Memory Data Management Solutions and Services
Databases
Data Grids
In-Memory Computing Platforms
Server Applications
Analytics Applications
Breakup by Organization Size:
Small and Medium Enterprises
Large Enterprises
Breakup by Vertical:
BFSI
Healthcare
IT and Telecom
Government
Others
Breakup by Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being 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, TIBCO Software Inc. (Vista Equity Partners), etc.
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