PUBLISHER: IMARC | PRODUCT CODE: 1540917
PUBLISHER: IMARC | PRODUCT CODE: 1540917
The global in-memory analytics market size reached US$ 5.7 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 36.7 Billion by 2032, exhibiting a growth rate (CAGR) of 22.3% during 2024-2032.
In-memory analytics query data in random access memory (RAM) can be used by multiple users across different applications rapidly, securely, and concurrently. It provides deep insights with speed and precision, resulting in informed and proactive decisions. It also increases revenue, manages risks, and assists in new product or service innovation. Consequently, organizations worldwide are adopting in-memory analytics as it helps them minimize the time spent on query analysis, cube building, aggregate table designing, and other time-consuming tasks. It further enables them to simplify access to data sources, deliver immediate actions and responses, and meet evolving consumer demands.
A considerable rise in the adoption of digital technology to transform services or businesses is resulting in a massive proliferation of data in databases. This acts as a primary factor promoting the need for in-memory analytics for fast access to information and easy analysis. Moreover, it is a cost-effective alternative to data warehouses for small and medium-sized enterprises (SMEs) that lack the expertise and resources to construct a data warehouse. In-memory analytics provides the ability to analyze data of varied sizes and complexities with unprecedented speed at an affordable cost. Apart from this, the growing utilization of online banking services is positively influencing the application of in-memory analytics in the banking, financial services, and insurance (BFSI) sector worldwide for risk and transaction management and detection of fraud payments. Furthermore, it is utilized in applications involving geographic information system (GIS) processing. The widespread use of GIS processing for real-time directions on traffic congestion, recommended routes, and traffic hazards in the logistics and transportation industry is anticipated to drive the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the global in-memory analytics market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on application, organization size and vertical.
Customer Experience Management
Design and Innovation
Operation Optimization
Marketing Management
Real-Time Analysis and Decision-making
Others
Small and Medium Enterprises
Large Enterprises
BFSI
Retail and E-commerce
Government and Defense
Healthcare
Manufacturing
IT and Telecommunication
Others
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles of the key players being ActiveViam, Amazon Web Services Inc., Hitachi Ltd., Information Builders Inc. (Tibco Software Inc.), International Business Machines Corporation, Kognitio Ltd, Microstrategy Incorporated, Oracle Corporation, Qlik Technologies, SAP SE, SAS Institute Inc. and Software AG.