In-Memory Computing Market Analysis & Growth Trends 2024

"The Business Research Company recently released a comprehensive report on the Global In-Memory Computing Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

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According to The Business Research Company's, The in-memory computing market size has grown exponentially in recent years. It will grow from $22.89 billion in 2023 to $27.67 billion in 2024 at a compound annual growth rate (CAGR) of 20.9%. The growth in the historic period can be attributed to increased data volumes, increased demand for real-time insights, digital transformation initiatives, explosion of big data, cybersecurity needs.

The in-memory computing market size is expected to see exponential growth in the next few years. It will grow to $61.32 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%. The growth in the forecast period can be attributed to accelerated digital transformation, expansion of cloud-based solutions, greater emphasis on real-time decision support, financial sector applications, database performance optimization. Major trends in the forecast period include edge computing requirements, big data handling, iot data processing, ai and machine learning, enhanced customer experience.

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Market Drivers and Trends:

An increase in cloud adoption is expected to propel the growth of the in-memory computing market going forward. The term ""cloud,"" in the context of computing and technology, refers to a network of remote servers that are hosted on the internet to store, manage, and process data rather than on a local, personal computer or a local server. In the realm of cloud adoption, in-memory computing plays a pivotal role in enhancing the performance and efficiency of data processing. As organizations migrate their operations to the cloud, in-memory computing technologies enable faster and real-time analytics by storing and retrieving data directly in the system's memory. This approach eliminates the delays associated with fetching data from traditional disk-based storage systems, allowing for quicker decision-making and improved responsiveness. For instance, in January 2023, Google, a US-based multinational technology company published an article that said 26% of people reported using multiple public clouds in 2022, which has increased from 21% in 2021. The use of Hybrid cloud also increased from 25% to 42.5% in 2022. Therefore, an increase in cloud adoption is driving the in-memory computing market.

Technological advancement is a key trend gaining popularity in the in-memory computing market. Major companies operating in the in-memory computing market are advancing in their new technologies and developing AI acceleration chips-based, in-memory calculations that work as high-performance parallel computation machines explicitly designed for efficient processing. For instance, in January 2022, Samsung Electronics, a Korea-based, advanced semiconductor technology company, announced its demonstration of the world's first MRAM (Magnetoresistive Random Access Memory)-based in-memory computing. The researchers successfully developed an MRAM array chip that illustrates in-memory computing by replacing the standard, current-sum in-memory computing architecture with a new, resistance sum in-memory computing architecture that solves the issue of individual MRAM device small resistances

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Major Key Players of the Market:

Microsoft Corporation, Oracle Corporation, SAP SE, International Business Machines Corporation, SAS Institute Inc., TIBCO Software Inc., Software AG, Gridgrain Systems Inc., Altibase Corporation, Hazelcast Inc., Gigaspaces Technologies Inc., Intel Corporation, HCL Technologies Ltd., Exasol AG, Red Hat Inc., Aerospike Inc., Couchbase Inc., McObject LLC, Teradata Corporation, Fujitsu Ltd., MongoDB Inc., Oracle Corporation, Alachisoft, ArangoDB GmbH, Couchbase Inc., Redis Labs Inc., VoltDB Inc., Kognitio Ltd., MicroStrategy Inc., Actian Corporation

In-Memory Computing Market 2024 Key Insights:

• The in-memory computing market size is expected to see exponential growth in the next few years. It will grow to $61.32 billion in 2028 at a compound annual growth rate (CAGR) of 22.0%.
• In-Memory Computing Market Surges Amidst Soaring Global Data Volumes
• Advancements In Ai Acceleration Chips And Mram-Based Computing Define The In-Memory Computing Market
• North America was the largest region in the in-memory computing market share in 2023

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