In the memory computing market
Overview of the Market
· In-memory computing, often known as IMC, is becoming more popular. This is due to the increased demand for quicker big data processing and analytics, the need to simplify architecture as the number of different data sources grows, and technological advancements that lower the total cost of ownership (TCO).
· Enterprises are looking for solutions to cope with the steady upsurge in available data and the never-ending expectations for better and faster performance to maintain a competitive edge and meet the demands for optimal customer experience in the current scenario. This is helping to accelerate the advancement of in-memory computing technology.
· Companies across a wide range of industries have been progressively using in-memory computing platforms to obtain the application performance and scalability required to meet their digital transformation or omnichannel customer experience goals during the last several years.
· For example, in-memory computing is being used by American Airlines to improve response times, automate procedures, and achieve SLAs for business applications that process large datasets from many sources.
· In addition, advancements in peer-to-peer transactions, bitcoins, and mobile wallets have added to the instant payment capabilities. This allows service providers to maintain a high level of reliability while also expanding capacity ahead of demand. Low latency, scalability, and resilience are all advantages of using an in-memory computing architecture.
· In the immediate term, the Covid-19 outbreak will impact the chip manufacturing business, as numerous operations have been halted due to the global shutdown. At the same time, companies are partnering to develop a cure for the epidemic by analyzing data using advanced computing, which employs IMC. For example, Intel and Lenovo recently teamed up with Beijing-based BGI Genomics to use its technology and experience to speed up the examination of COVID-19’s genomic properties.
The Report’s Scope
· In-memory computing refers to data storage in dedicated servers’ main random access memory (RAM) rather than in complex relational databases that run on slow disk drives. In-memory Data Management and In-memory Applications are examples of components that fall outside the scope of the report. In-memory analytics and in-memory application server are examples of in-memory applications.
In-memory data management will continue to hold a significant share of the market.
· The process of monitoring and managing the storage, retrieval, and operations of data stored in the memory of a computer, server, or other computing device is known as in-memory data management.
· Most major database manufacturers now provide in-memory technology, which has become a trusted component of the data world. In-memory processing can process workloads up to 100 times quicker than disk-to-memory, allowing businesses to operate at the speed of thought.
· Decision-makers can get the information they need faster and more easily with in-memory databases and technology.
· While in-memory technology has been around for a long time, the current desire for intelligent, interactive experiences necessitates high-performance back-end systems and apps that incorporate data transfer and delivery faster than ever before.
· According to a recent Unisphere-AWS survey, 60% of IT managers, DBAs, and C-level executives plan to store more data in the cloud than on-premise during the next three years. In addition, the use of NoSQL platforms, such as document, graph, columnar, and in-memory, which are still in their early stages of adoption, will grow as new uses for the technology emerge and skills and experience become more readily available.
The Asia-Pacific region is suspected to grow at the fastest rate.
· These countries are renowned as the world’s manufacturing factories because they serve as a hub for BPOs and KPOs. This demonstrated the IMC market’s enormous growth potential in Asia-Pacific.
· The increased demand for big data and the expanding number of SMEs in this region present enormous growth prospects. Several incumbent technology players are increasing their investment, which is one of the factors driving the market in the APAC region.
Major businesses such as SAP SE, Microsoft, Oracle, Altibase, and others dominate the in-memory computing market. To meet market demands, these companies used various techniques, including new product creation, collaborations and partnerships, and business expansions. Acquisitions and integrations have been a major strategy for big industry players to increase their market share, security portfolio, and client base.