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In-Memory analytics market is projected to reach $11.858 billion by 2026 | Key Players such as - Amazon Web Services, Inc., SAP SE, Oracle Corporation, SAS Institute Inc., International Business Corporation, Hitachi, Ltd
Predictive asset management solution is expected to attain significant growth in the upcoming years, owing to the rise in adoption of this solution by various SMEs for analyzing real-time data from various data sources.
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Digital transformation using real-time data analytics, surge in data volume, and the trend of self-service business analytics (BI) tools drive the growth of the global in-memory analytics market.
Based on region, North America contributed to the highest market share based on revenue, holding more than one-third of the global in-memory analytics market in 2018, and is estimated to maintain its leadership position in terms of revenue by 2026. This is due to its adoption in businesses for effectively gathering data to gain accurate analytics for making better-informed decisions. However, Asia-Pacific is expected to grow at the highest CAGR of 26.9% from 2019 to 2026, owing to surge in digitalization in emerging countries such as China and India.
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Based on application, the sales and marketing management segment held the highest market share of the global in-memory analytics market, accounting for more than one-fourth of the total share in 2018, and is projected to maintain its lead status throughout the forecast period. This is attributed to its various features including campaign analytics, ad attribution analytics, and conversion funnel analysis. However, the predictive asset maintenance segment is expected to register at the highest CAGR of 29.6% from 2019 to 2026, owing to rise in adoption for analysis of historical and real-time data from different sites to determine the excepted failures.
The report analyses the profiles of key players operating in the market Amazon Web Services, Inc., SAP SE, Oracle Corporation, SAS Institute Inc., International Business Corporation, Hitachi, Ltd., Software AG, MicroStrategy Incorporated, Qlik Technologies, and Kognito Ltd. These players have adopted various strategies to increase their market penetration and strengthen their position in the industry.
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Based on deployment, the on-premise segment accounted for nearly three-fifths of the total share of the global in-memory analytics market in 2018, and is estimated to continue its dominant share throughout the forecast period. This is due to rise in the adoption due to better security features provided by the on-premise model. However, the cloud segment is estimated to witness the largest CAGR of 27.2% from 2019 to 2026, owing to novel services and improve efficiency offered by cloud.
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