Press release
In Memory Data Grid Market 2021 Precise Outlook - Hazelcast Inc., GridGain Systems Inc., Oracle Corporation, IBM Corporation, Pivotal
The In Memory Data Grid Market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.The In Memory Data Grid Market attained a value of USD 1.82 billion in 2020 and is expected to reach USD 3.72 billion by 2026 and register a CAGR of over 12.81% over the forecast period 2021 - 2026.
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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
June 2020 Oracle Corporation released the core of their Coherence in-memory data grid (IMDG) product as free and open-source software. The open-source Coherence release provides a very familiar set of core IMDG features, including, Parallel querying and aggregation, Fault-tolerant automatic sharding, Caching, querying, aggregation, transactions, in-place processing, Persistence, Eventing, messaging, and streaming.
- 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.
Key Market Trends
North America is Expected to Hold Major Share
- The adoption of an in-memory data grid is rising in the region, primarily attributed to the burgeoning demand for faster processing and analytics on big data coupled with the need for simplifying architecture as the number of various data sources increases. Technology enhancements that are optimizing the total cost of ownership are one other factor driving the market growth.?
- The growth of new business insights contributes to expanding the market in the United States, as various data sources increase. Various companies are leveraging big data to enhance marketing, customer experience, identify fraud and waste, and gain other results that can directly strengthen business performance.
- According to the US based Coalition Against Insurance Fraud, fraud accounts for 5-10% of claims costs for American and Canadian insurers. Some insurers expect the total as high as 20% of the claims costs. Across all insurance lines in the North America region, the estimated cost is between USD 80 billion and USD 90 billion.
- The healthcare industry, which embraces the cloud for their Electronic health record (EHR) data and other enterprise applications, is also becoming a great source for data. For instance, according to GNS Healthcare, a US-based Data Analytics Company, the United States healthcare industry generates an estimated 1.2 billion clinical care documents annually. Hence, growth in data across end-user industries is anticipated to create real-time processing, thereby creating opportunities for the market.
Regional Outlook of In Memory Data Grid Market report includes the following geographic areas such as: North America, Europe, China, Japan, Southeast Asia, India and ROW.
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What Are The Market Factors That Are Explained In The Report?
Key Strategic Developments: The study also includes the key strategic developments of the market, comprising R&D, new product launch, M&A, agreements, collaborations, partnerships, joint ventures, and regional growth of the leading competitors operating in the market on a global and regional scale.
Analytical Tools: The In Memory Data Grid Market Report includes the accurately studied and assessed data of the key industry players and their scope in the market by means of a number of analytical tools. The analytical tools such as Porter’s five forces analysis, SWOT analysis, feasibility study, and investment return analysis have been used to analyze the growth of the key players operating in the market.
Key Market Features: The report evaluated key market features, including revenue, price, capacity, capacity utilization rate, gross, production, production rate, consumption, import/export, supply/demand, cost, market share, CAGR, and gross margin. In addition, the study offers a comprehensive study of the key market dynamics and their latest trends, along with pertinent market segments and sub-segments.
Customization of the Report: This report can be customized as per your needs for additional data up to 3 companies or countries or 40 analyst hours.
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MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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