In-Memory Database Market – Overview
The growing developments in the database storage systems are backing the growth of the in-memory database. Market reports connected with the information and communication technology industry have been presented by Market Research Future which makes reports on other industry verticals that aims to review the present market scenarios better. The market is anticipated to develop at a CAGR of 19% in the forecast period.
The upsurge in web-based transactions and business analytics is expected to create a positive impetus for the development of the in-memory database market. Moreover, the rise in on-cloud accounts globally is expected to motivate the market in the forecast period further. The cost-effectiveness of the in-memory database market is expected to offer new opportunities for growth in the forecast period.
The segmentation of the in-memory database market is carried out on the basis of processing type, application, organization size, deployment mode, data type, and vertical. Based on the data type, the in-memory database market consists of NoSQL, relational, NewSQL. On the basis of processing type, the in-memory database market is segmented into Online Transaction Processing (OLTP) and Online Analytical Processing (OLAP). On the basis of application, the in-memory database market is segmented into reporting, transaction, analytics, and others. On the basis of deployment mode, the in-memory database market is segmented into on-demand, on-premise, and on-cloud. The regions included in the in-memory database market are Asia Pacific, North America, Europe, and Rest of the World.
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Detailed Regional Analysis
The regional assessment of the in-memory database market includes regions such as Asia Pacific, North America, Europe, and Rest of the World. The analysis observes that the North America region is responsible for the principal share of the market due to the existence of chief market players, technical expertise, and increasing demand for the in-memory database system that involves fast storage and speedy transfer of files. The U.S. and Canada are controlling the North American region owing to the growing technological developments and reputable IT industry. The Asia Pacific region is anticipated to illustrate the top expansion opportunities in the market due to the capability for providing outsourcing service in real-time intelligence with sophisticated predictive analytics on diverse applications is backing the market’s growth. The initiatives taken by emerging countries in the APAC region such as India, China, and others in promotion and digitalization of the up-and-coming technologies such as the Internet of Things (IoT), mobility, business intelligence (BI), cloud, and analytics is expected to motivate the market growth in the forecast period.
The competitive outlook for the market is expected to diversify significantly in the coming period. The developments in the market are expected to be fuelled by the rise in investments and product innovations. The competitors are proactively addressing the challenges to growth and are crafting strategies that can have the best overall effect on the market’s progress. The market leaders are taking an interest in the creation of strong value chains that can yield increased profits. The opportunities for growth in the market have ample scope for development in the forecast period. The market challengers find themselves in a promising position with the capacity to handle the pace of change. The perceived tendency for the market’s growth has increased following the availability of positive factors in the market.
The well-known companies in the in-memory database market global are IBM Corporation (U.S.), Oracle Corporation (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), Amazon Web Services (U.S.), Tableau software (U.S.), Altibase Corporation (U.S.), Teradata Corporation (U.S), VoltDB (U.S.), Datastax (U.S.), ENEA (Sweden), Kognitio Ltd. (U.K.), McObject LLC (U.S.), and others.
Feb 2019 Redis Labs has raised $60 million in its Series E round for its NoSQL in-memory database recently. The financing will be used to accelerate its worldwide go-to-market implementation and invest additionally in the enthusiastic Redis community, and carry on its control in delivering the top performing, most competent database platform for modern applications.
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