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Global In-Memory Analytics Market to Reach USD 7.36 billion by 2027, Aided by Digital Transformation

According to a new report by EMR titled, ‘Global In-Memory Analytics Market Report and Forecast 2022-2027’, the global in-memory analytics market reached a value of about USD 1.89 billion in 2021. The industry is further expected to grow at a CAGR of 25.40% in the forecast period of 2022-2027 to reach a value of around USD 7.36 billion by 2027.

The market growth is being driven by increasing data volume, which necessitates the use of analytical methods. In-memory analytics facilitates organisations in the integration of information and presenting a holistic view of the situation at hand, powered by real-time data that strengthens the decision-making process. It is driven by the growing digitisation of end-users, coupled with the rising adoption of cost-effective cloud-based analytical software by small and medium enterprises (SMEs), especially in developing countries. The major factors responsible for the growth of the global memory analytics market include technological advancements in the computation of power, the growing trend for self-service BI Tools, digital transformation using real-time data analytics, and growth in the volume of data. Benefits such as cost optimisation, operations management, and strategic decision making are expected to drive the growth of the in-memory analytics market. Moreover, the demand for in-memory analytics is anticipated to grow with the increasing popularity of in-memory analytics in sales and marketing management, supply chain management and operations, fraud and security management.

The in-memory analytics market is fragmented, with several key players and new entrants forming a competitive landscape, accounting for a sizable market share. In addition, strategic partnerships, acquisitions, and new product/technology launches are increasing market rivalry. In April 2019, SAP SE (NYSE: SAP) announced enhancements to the SAP HANA database in the cloud and on-premises that provide everyone instant access to critical data and extreme performance to democratise in-memory computing. Improved cloud support, Intel persistent memory support, intelligent recommendations for efficient database management, new machine learning (ML) capabilities, hyper-converged infrastructure (HCI) certification, improved cost-effective data tiering, and data security enhancements are some of the updates.

Market Analysis by Applications, End Use, Verticals, and Regions:

  • The leading applications of the industry are customer experience management, design and innovation, operation optimisation, marketing management, real-time analysis and decision-making, among others.
  • The end use of the industry includes small and medium enterprise and large enterprises.
  • BFSI, retail and e-commerce, government and defence, healthcare, manufacturing, telcos and ITES, among others are the significant verticals in the market.
  • The regional markets for in-memory analytics include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • Increased investments in emerging technology areas like visualisation and in-memory analytics, among others will significantly increase the market growth.
  • Increasing research and development to accelerate cloud development, specifically for in-memory cloud development, is expected to drive the growth of the industry.
  • The application of in-memory analytics is growing at a rapid pace among businesses owing to proactively avoiding major financial and operational risks and enhanced risk intelligence capabilities.
  • Timely acceptance of the state-of-the-art expertise in several subdivisions, for example, healthcare, e-commerce, BFSI and others, have influenced the general development of the market.

Key Offerings of the Report:

  • The EMR report gives an overview of the global in-memory analytics industry for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for applications, end use, verticals, and major regions of in-memory analytics.   
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global in-memory analytics industry are Oracle Corporation, SAP SE, International Business Machines Corporation, Software AG, and MicroStrategy Incorporated, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

About Us

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium-sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

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*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

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