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).
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.
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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.