In-Memory Analytics Market Size Exceeds Projections, Fueling Optimism in Tech Sector

The global In-Memory analytics market revenue was valued at $1.956 billion in 2018, and is projected to reach $11.858 billion by 2026, growing at a CAGR of 25.40% from 2019 to 2026.

In-memory analytics helps organization to improve the overall speed in the BI system and provide different business intelligence clients with quicker solutions as compared to traditional disk based BI systems, especially for queries that take a long time to process in a large database. Furthermore, rise in need for self-service business intelligence and advanced technologies are the major factors that drive the growth of the market.

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In-memory analytics has revolutionized data processing by enabling real-time analysis of vast datasets. With data stored in memory, organizations can rapidly access and analyze information, allowing for quicker decision-making and a competitive edge. This trend is particularly crucial in industries like finance, e-commerce, and healthcare, where timely insights can make or break opportunities.

In-memory analytics tools are increasingly incorporating advanced data visualization techniques. This trend is empowering non-technical users to explore and interpret complex data sets through intuitive, interactive dashboards and visual representations. Such capabilities facilitate better data-driven decision-making across various departments within an organization.

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The integration of in-memory analytics with artificial intelligence (AI) and machine learning (ML) is gaining momentum. By combining these technologies, businesses can uncover deeper insights from their data, predict future trends, and automate decision-making processes. This synergy is driving efficiency improvements and enabling organizations to proactively respond to changing market dynamics.

Many businesses are migrating their in-memory analytics solutions to the cloud. Cloud-based offerings provide scalability, flexibility, and cost-efficiency, making it easier for organizations to leverage in-memory analytics without the need for extensive on-premises infrastructure. This trend is democratizing access to powerful analytics tools, allowing businesses of all sizes to harness the benefits of in-memory analytics.

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The sale & marketing optimization segment dominated the in-memory analytics market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to its adoption by many companies for understanding the requirements of the customers. Furthermore, predictive asset management segment is expected to grow at a significant CAGR during the forecast period, owing to its adoption by organizations for analyzing historical and real-time data from various sites for helping them predict the excepted failures before it happens.

The BFSI sector dominated the in-memory analytics market industry in 2018 and is projected to maintain its dominance during the forecast period, owing to its adoption in various banking and financial institution to improve customer service and satisfaction, to enter new markets, and to establish data exchange. Furthermore, the IT & telecom sector is expected to grow at a significant CAGR during the forecast period, owing to its adoption for gaining customer insights as well as product performance insights from huge quantity of data.

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By region, the global in-memory analytics market was dominated by North America in 2018 and is expected to maintain this trend during the forecast period. The major factors that drive the growth of the market in this region include increase in demand for in-memory database system for quick storage and fast transfer of files, presence of major market players, and technical expertise in this region. However, Asia-Pacific is expected to witness highest growth rate during the forecast period, owing to adoption of in-memory analytics by various SMEs for managing huge quantity of data.

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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