In-memory Database Market Statistics, 2031
The global in-memory database market size was valued at $5.3 billion in 2021, and is projected to reach $30.4 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.
Machine learning expansion with adoption of IoT and BYOD trends, increase in volume of data is boosting the growth of the global in-memory database market. In addition, self-service BI tools is positively impacts growth of the in-memory database market. However, data security and privacy concerns is hampering the in-memory database market growth. On the contrary, improved scalability and security with cloud-based in-memory analytics is expected to offer remunerative opportunities for expansion during the in-memory database market forecast.
An in-memory database (IMDB) stores computer data in a computer’s main memory instead of a disk drive to produce quicker response. Accessing data stored in memory eliminates the time needed to query data from a disk. In-memory databases are used by applications that depend on rapid response times and real-time data management. Industries that benefit from in-memory databases include telecommunications, banking, travel and gaming. An in-memory database is also referred to as a main memory database (MMDB), real-time database (RTDB) or in-memory database system (IMDS). The in-memory database market is segmented into Deployment Model, Enterprise Size, Industry Vertical, Application and Processing Type.
Segment Review
The in-memory database market is segmented on the basis of application, processing type, deployment model, enterprise size, industry vertical, and region. By application, it is segmented into transaction, reporting, analytics, and others. By processing type, it is segmented into online analytical processing and online transaction processing. By deployment model, it is categorized into on-premise and cloud. By enterprise size, it is categorized into large enterprise and small and medium size enterprise. By industry vertical, it is categorized into IT & telecom, BFSI, retail & e-commerce, healthcare & life sciences, government & defense, manufacturing, media & entertainment, and others. The manufacturing segment is further categorized into food & beverages, industrial machinery & heavy equipment, high-tech & consumer electronics, automotive, and others. The high-tech & consumer electronics, segment is further divided into consumer electronics, PCs & laptops, and others. Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key players operating in the In-memory Database Industryinclude Aerospike, Inc., Altibase Corporation, Couchbase, Inc., DataStax, Inc., GridGain Systems, Inc., International Business Machine (IBM), Microsoft Corporation, McObject LLC., Oracle Corporation, Redis, Raima, Inc., SingleStore, Inc., SAP SE, TIBCO Software, Inc., Teradata Corporation, Vmware, Inc., and Volt Active Data. Furthermore, it highlights the strategies of the key players to improve the In-memory Database Industryshare and sustain competition.
On the basis of industry vertical, the IT and telecom segment dominated the in-memory database market in 2021, and is expected to maintain its dominance in the upcoming years. Adoption of in-memory database in telecom & IT organizations is growing to safeguard against threats, reducing the data loss, and security systems of large, complicated, and multifaceted organizations. Increase in use of mobile broadband and big data has propelled the need for in-memory database in the telecom sector. The market is expected to experience prominent growth, owing to increase in adoption of technologies, specifically cloud and mobility.
Depending on the region, North America dominated the in-memory database market in 2021. In North America region, businesses are investing in their emerging technologies in order to improve their work efficiency. Owing to rise in competition among cloud-based provider companies in North America, key players are supplying more protection for information through ensuring quick access and more outreach in their services to the clients, which drives the growth of the in-memory database market in this region. In addition, the fundamental elements which are make contributions towards the growth of in-memory database in North America are rise in utilization of mobile devices.However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.
Top Impacting Factors
Adoption of IoT and BYOD trends
Emerging IoT and BYOD trends among top business organizations have made devices and applications more vulnerable to advanced persistent threats (APTs). In addition, increase in number of mobile devices within corporate organizations post outbreak of the COVID-19 pandemic makes it difficult for IT teams to manage and track the data flow in various connected systems. Therefore, organizations are adopting in-memory database solutions to protect crucial information by outsourcing monitoring, classifying, and resolving all kinds of external and internal threats, which drives the market growth.
For instance, on October 2021, GridGain Systems announced the launch of GridGain Nebula. Through this product launch it intends to launch pay-as-you-go, cloud-native in-memory computing service, to all GridGain and Apache Ignite users. Hence, such factors propel the market growth.
Self-service BI Tools trends
Surge in demand from organizations for providing flexibility and self-reliance in reporting and analysis to their business users have increased adoption of self-service BI tools in various organizations. In addition, the need for BI tools has increased in various organizations, owing to its numerous benefits of managing, their data, and transforming raw numbers into streamlined reports that improve company-wide decision-making.
Furthermore, rise in awareness for several benefits offered by BI software enables a high scope for organizations to target their customers and enhance user experience. For instance, restaurant chains such as Wendy’s and Ruby Tuesday in the U.S. are significantly using BI software to enhance customer relationship. Hence, such factors propel the market growth.
COVID-19 Impact Analysis
The COVID-19 outbreak has high impact on the growth of in-memory database market, as increasing number of smartphone users, growing adoption of connected devices, and surging e-commerce sector provide lucrative opportunities for the growth of the in-memory database market. COVID has caused crises in social, economic, and energy areas and medical life worldwide throughout 2020. This crisis had many direct and indirect effects on all areas of society.
In the meantime, the digital and artificial intelligence industry can be used as a professional assistant to manage and control the outbreak of the virus. In post-pandemic circumstances, enterprises strived to minimize operational and running costs around all the business functions to recover the losses incurred in covid times. The market for in-memory database observed unconstructive expansion, during the initial half of 2020. Owing to the limitations due to the global lockdown, media houses, a variety of offices, and the manufacturing divisions have observed a provisional shutting down. The demand for in-memory database is anticipated to gain steady traction over the coming years owing to the need for scalable and customized software. Due to the COVID-19 pandemic, increasing health awareness among individuals has directed various doctors and health workers to deliver their services over applications. This factor is anticipated to contribute to market growth.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the In-memory Database Market Share, current trends, estimations, and dynamics of the in-memory database market analysis from 2021 to 2031 to identify the prevailing in-memory database market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the in-memory database market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global in-memory database market trends, key players, market segments, application areas, and market growth strategies.
In-memory Database Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 30.4 billion |
 Growth Rate | CAGR of 19.3% |
 Forecast period | 2021 - 2031 |
 Report Pages | 345 |
 By Deployment Model |
|
 By Enterprise Size |
|
 By Industry Vertical |
|
 By Application |
|
 By Processing Type |
|
 By Region |
|
 Key Market Players | GridGain Systems Inc., Microsoft Corporation, Couchbase Inc., TIBCO Software Inc., McObject LLC, Aerospike Inc., MemSQL Inc., VMware Inc., Oracle Corporation, Redis Labs Inc., Altibase Corp., SAP SE, Raima Inc., VoltDB Inc., DataStax Inc., Teredata Corporation, IBM Corporation |
Analyst Review
In accordance with insights by CXOs of leading companies, this technology helps in keeping full database in the memory of the system. The technology renders its support to workloads of different kinds such as transactional and analytical, along with operational ones. In addition, this technology is known to help reduce data latency that further, has a role to play in data extraction and processing in real-time. Moreover, the huge amount of big data is on the generation mode for various industry vertices functioning across the globe. Moreover, various countries are witnessing the need for data analysis in real-time. This is being fulfilled by in-memory database solutions. The main reason behind choosing these solutions is that they provide quick access to data and proper processing.
In the digital era where artificial intelligence and internet of things have taken over the world, there seems to be a comparatively less growth rate of the in-memory database market than digital marketing. Through various studies it has been observed that the in-memory database market is expanding as a result of the quickening pace of digital transformation in all parts of the world. Industries such as e-commerce or retail has been more focused on gathering data on consumers for better understanding and predicting the purchasing behavior of the consumers. In line memory database strongly aids the organizations in performing the same and hence has been seeing good growth rate for the past few years. Moreover, growth of internet-of-things connected devices has been promoting growth of the in-memory databases market, since most of the infrastructure of IoT applications are being supported by these databases.
Furthermore, machine learning expansion with adoption of IoT and BYOD trends, increase in volume of data is boosting the growth of the global in-memory database market. In addition, self-service BI tools is positively impacts growth of the in-memory database market.
Depending on the region, North America dominated the in-memory database market in 2021. In North America region, businesses are investing in their emerging technologies in order to improve their work efficiency. Owing to rise in competition among cloud-based provider companies in North America, key players are supplying more protection for information through ensuring quick access and more outreach in their services to the clients, which drives the growth of the in-memory database market in this region. In addition, the fundamental elements which are make contributions towards the growth of in-memory database in North America are rise in utilization of mobile devices.
The global In-memory database market was valued at $5,326.96 million in 2021, and is projected to reach at $30,377.16 million by 2031, growing at a CAGR of 19.3% from 2021 to 2031.
The key players operating in the market include Aerospike, Inc., Altibase Corporation, Couchbase, Inc., DataStax, Inc., GridGain Systems, Inc., International Business Machine (IBM), Microsoft Corporation, McObject LLC., Oracle Corporation, Redis, Raima, Inc., SingleStore, Inc., SAP SE, TIBCO Software, Inc., Teradata Corporation, Vmware, Inc., and Volt Active Data. Furthermore, it highlights the strategies of the key players to improve the market share and sustain competition.
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