In-memory Database Market is Booming Worldwide Growth Rate of 19.3% from 2022 to 2031

The in-memory database market size was valued at $5.3 billion in 2021, and is estimated to reach $30.4 billion by 2031, growing at a CAGR of 19.3% from 2022 to 2031.

The online transaction processing segment is expected to experience fastest growth in the coming years, owing to emphasizes of fast and effective transaction ensuring the integrity of data in the multiple-access ecosystem.

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An in-memory database (IMDB) stores computer data in a computer's main memory instead of a disk drive to produce quicker response. Accessing data stored in memory eliminates the time needed to query data from a disk. In-memory databases are used by applications that depend on rapid response times and real-time data management. Industries that benefit from in-memory databases include telecommunications, banking, travel and gaming. An in-memory database is also referred to as a main memory database (MMDB), real-time database (RTDB) or in-memory database system (IMDS).

Furthermore, machine learning expansion with adoption of IoT and BYOD trends, increase in volume of data is boosting the growth of the global in-memory database market. In addition, self-service BI tools is positively impacts growth of the in-memory database market. However, data security and privacy concerns is hampering the in-memory database market growth. On the contrary, improved scalability and security with cloud-based in-memory analytics is expected to offer remunerative opportunities for expansion during the in-memory database market forecast.

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Depending on the region, North America dominated the In-memory database market share in 2021. In North America region, businesses are investing in their emerging technologies in order to improve their work efficiency. The rapidly evolving digital world requires efforts and advancements to keep up with subsequent increases in fraud and privacy concerns. A different simplified approach is needed, which understands the security model in order to keep data safe. Increasing identity thefts in government and public sectors may boost the adoption of protection services. Because of these factors the countries such as the United States, Canada, In-memory database have seen widespread acceptance in the North America region.

However, Asia-Pacific is expected to witness significant growth during the forecast period, owing to growing economies such as India and China and cloud native countries like Japan.

This report gives an in-depth profile of some key market players in the in-memory database market analysis include Altibase Corporation, Couchbase, Inc., DataStax, Inc., GridGain Systems, Inc., International Business Machine (IBM), Microsoft Corporation, McObject LLC., Oracle Corporation, Redis, Raima, Inc., SingleStore, Inc., SAP SE, TIBCO Software, Inc., Teradata Corporation, Vmware, Inc., and Volt Active Data. These major players have adopted various key development strategies such as business expansion, new product launches, and partnerships, which propel growth of the in-memory database industry.

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