In Memory Data Grid Market 2021-2025 Top Trends, Business Opportunity, and Growth Strategy-Hazelcast Inc., GridGain Systems Inc., Oracle Corporation

In Memory Data Grid Market by Component, Application, Services, and Region- Forecast to 2025

The Global In Memory Data Grid Market Research Report 2021-2025 published by MarketInsightsReports is a significant source of keen information for business specialists. It furnishes the In Memory Data Grid business outline with development investigation and historical and futuristic cost analysis, income, demand, and supply information (upcoming identifiers). The research analysts give a detailed depiction of the In Memory Data Grid worth chain and its wholesaler examination. In Memory Data Grid Market study gives extensive information which upgrades the agreement, degree, and use of this report.

The In Memory Data Grid Market is expected to register a CAGR of over 11% over the forecast period 2020 - 2025.

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Top Leading Companies of In Memory Data Grid Market are Hazelcast Inc., GridGain Systems Inc., Oracle Corporation, IBM Corporation, Pivotal (VMware Inc.), GigaSpaces Technologies Inc., Software AG, ScaleOut Software, Alachisoft, TIBCO Software Inc. and others.

-Industry News And Updates on In Memory Data Grid Market-

North America is Expected to Hold Major Share

- North America is expected to hold a major share due to the growing adoption of data grid solutions across industries such as BFSI, healthcare, and retail. The region has a strong foothold of key vendors, which contributes to the growth of the market.

- The growth of new business insights contributes to the expansion of the market in the United States, as various data sources increase. Many companies are leveraging big data to improve customer experience, enhance marketing, identify fraud and waste, and achieve other results that directly strengthen business performance.

- According to the U.S based Coalition Against Insurance Fraud, fraud accounts for 5-10% of claims costs for American and Canadian insurers, with some insurers expecting the total as high as 20% of the claims costs. Across all lines of insurance in the North America region, the estimated cost is between USD 80 billion and USD 90 billion.

-Key Market Trends In Memory Data Grid Market-

Growing Need for Real Time Data Processing in BFSI Driving the Industry Growth

- Growing digitalization are compelling financial companies to build a lean, flexible, and efficient approach to cater to their customers. Financial institutions deal with critical information, which, if not properly processed, can have severe financial and ethical implications.

- Hence, financial organizations worldwide are looking for in-memory data grid solutions, which can process data in real-time and improve their business-critical applications.

- A company such as Grid Gain is one of the prominent providers of In-memory data grid. Leading banks depend on GridGain to help them offer an integrated omnichannel banking experience. By using GridGain, organizations have not only added speed and scale to digital channels.

-Competitive Landscape On In Memory Data Grid Market-

November 2019  Hazelcast Inc. announced that its in-memory data grid features optimizations for Intel Optane DC Persistent Memory, which offers increased data density and more cost-efficient access to in-memory speeds. The latest update to Hazelcast IMDG also enhances performance, scalability, and reliability for mission-critical, time-sensitive workloads.

- October 2019  IBM Corporation collaborated with Hazelcast to improve IBM Cloud Pak solutions with an enterprise-grade in-memory computing platform add-on that is purpose-built for applications such as improved customer experience, fraud detection, payment processing, and edge processing or IoT. The Hazelcast in-memory computing platform combines event stream processing with an IMDG.

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