PUBLISHER: The Business Research Company | PRODUCT CODE: 1425582
PUBLISHER: The Business Research Company | PRODUCT CODE: 1425582
In-Memory Computing Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on in-memory computing market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for in-memory computing? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The in-memory computing market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
In-memory computing represents a methodology focused on executing all computer calculations within computer memory, notably in RAM, rather than relying on slower disc drives within complex relational databases. Its primary aim is to swiftly aid business clients in identifying patterns, analyzing extensive data volumes, and conducting operations efficiently.
Comprising distinct facets of solutions and services, the key constituents of in-memory computing encompass the solution component. This segment involves solutions tailored to deliver real-time application performance and substantial scalability by transferring data from disk-based databases into RAM. These solutions find deployment across both cloud-based and on-premises setups, catering to enterprises of varying scales, including large corporations, small businesses, and medium-sized entities. They find wide-ranging applications in diverse business domains such as risk management, fraud detection, sentiment analysis, geospatial/GIS processing, sales and marketing optimization, predictive analysis, and supply chain management. Industries benefiting from these solutions span across Banking, Financial Services and Insurance (BFSI), IT and telecom, retail and e-commerce, healthcare and life sciences, transportation and logistics, government and defense, energy and utilities, media and entertainment, and other sectors.
The in-memory computing market research report is one of a series of new reports from The Business Research Company that provides in-memory computing market statistics, including in-memory computing industry global market size, regional shares, competitors with an in-memory computing market share, detailed in-memory computing market segments, market trends and opportunities, and any further data you may need to thrive in the in-memory computing industry. This in-memory computing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The in-memory computing market size has grown exponentially in recent years. It will grow from $22.89 billion in 2023 to $27.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The expansion observed in the historical period can be attributed to various factors, including the rise in data volumes, amplified demand for real-time insights, initiatives driving digital transformation, the proliferation of big data, and the increasing necessity for cybersecurity measures.
The in-memory computing market size is expected to see exponential growth in the next few years. It will grow to $61.32 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The anticipated growth in the forecast period is expected to stem from several factors such as an accelerated pace of digital transformation, the expansion of cloud-based solutions, increased focus on real-time decision support particularly in the financial sector, and optimization of database performance. Key trends in this period encompass the demand for edge computing capabilities, handling large volumes of big data, processing IoT data, advancements in AI and machine learning, and a focus on enhancing customer experiences through technological enhancements.
The surge in data volumes across industries is poised to fuel the growth of the in-memory computing market. This uptick, attributed to the migration of data to cloud-based solutions, an expanding pool of IT users, and heightened software subscriptions during economic upswings, escalates the creation of data. This growing demand has propelled the adoption of in-memory computing, allowing for data storage in RAM across computer clusters, facilitating parallel processing, and expediting operations significantly.
The escalating adoption of cloud solutions is projected to drive the expansion of the in-memory computing market. Within the context of computing and technology, the term 'cloud' denotes a network of remote servers hosted on the internet for data storage, management, and processing, diverging from local, personal computers or servers. In the landscape of cloud adoption, in-memory computing assumes a pivotal role in optimizing data processing efficacy and performance. As organizations transition their activities to the cloud, in-memory computing technologies facilitate swift and real-time analytics by directly accessing data stored in the system's memory. This approach eliminates delays inherent in retrieving data from conventional disk-based storage systems, fostering prompt decision-making and heightened responsiveness. For instance, Google's 2023 publication revealed a significant increase in users employing multiple public clouds and Hybrid cloud usage in 2022, indicating a substantial surge in cloud adoption and its consequent impact on driving the in-memory computing market.
Technological advancements stand as a prominent trend shaping the landscape of the in-memory computing market. Leading firms within this domain are pushing the boundaries of innovation, focusing on AI acceleration chips that serve as potent, high-performance parallel computation machines. These advancements are tailored for efficient processing, as seen in Samsung Electronics' January 2022 announcement of the world's inaugural MRAM-based in-memory computing. This breakthrough showcases an MRAM array chip, revolutionizing the conventional in-memory computing architecture by introducing a novel resistance sum design, effectively resolving issues related to individual MRAM device resistances.
Key players in the in-memory computing sector are rolling out pioneering products like the 64-core mixed-signal in-memory computing chip to fortify their market position. This chip, leveraging phase-change memory devices, exhibits enhanced support for deep neural network computations. For instance, in August 2023, the International Business Machines Corporation (IBM) launched its 64-core mixed-signal in-memory computing chip. This innovation is squarely aimed at maintaining the accuracy of deep learning algorithms while significantly reducing computation durations and energy usage. Comprising phase-change memory (PCM)-based cores integrated with digital computing processors, the chip's interconnectedness through an on-chip digital communication network enhances its functionality. With 64 analog PCM-based cores, each housing a 256-by-256 crossbar array of synaptic unit cells, this chip signifies a substantial stride toward an end-to-end analog AI inference accelerator chip.
In July 2022, Nordic Semiconductor, a Norway-based semiconductor company, completed the acquisition of Mobile Semiconductor for an undisclosed sum. This strategic move positions Nordic Semiconductor strongly to develop forthcoming products with high optimization capabilities. Mobile Semiconductor, based in the US, specializes in highly optimized embedded memory technology for microcontrollers (MCUs) and Systems-on-Chip (SoCs) and now operates as part of Nordic Semiconductor.
Major companies operating in the in-memory computing market report are Microsoft Corporation, Oracle Corporation, SAP SE, International Business Machines Corporation, SAS Institute Inc., TIBCO Software Inc., Software AG, Gridgrain Systems Inc., Altibase Corporation, Hazelcast Inc., Gigaspaces Technologies Inc., Intel Corporation, HCL Technologies Ltd., Exasol AG, Red Hat Inc., Aerospike Inc., Couchbase Inc., McObject LLC, Teradata Corporation, Fujitsu Ltd., MongoDB Inc., Oracle Corporation, Alachisoft, ArangoDB GmbH, Couchbase Inc., Redis Labs Inc., VoltDB Inc., Kognitio Ltd., MicroStrategy Inc., Actian Corporation
North America was the largest region in the in-memory computing market share in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the in-memory computing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the in-memory computing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The in-memory computing market includes revenues earned by entities by providing in-memory data management and in-memory application components and services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.