In-Memory Analytics Market Projected to Witness Vigorous Expansion by 2025
The global market for in-memory analytics is likely to grow at a strong pace in the next few years. The increasing rate of adoption and the expansion of the application base are the key factors that are anticipated to fuel the growth of the global in-memory analytics market in the forecast period. In addition to this, the rising emphasis of key players on introducing new products is likely to encourage the growth of the market in the next few years.
Global In-Memory Analytics Market: Key Trends
The emergence of cloud-based in-memory analytics helps in improving security and scalability, which is a major factor anticipated to encourage the growth of the market in the next few years. In addition, the rising trend for self-service BI tools is likely to accelerate the growth of the market over the forecast period. On the flip side, the lack of awareness among consumers regarding the advantages of in-memory analytical solutions and the lack of developer skills and end users in order to deploy BI applications are projected to hamper the growth of the overall market in the next few years. Nevertheless, the reduction of main memory hardware cost is predicted to encourage the growth of the market in the near future.
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Global In-Memory Analytics Market: Market Potential
The rising demand for digital transformation using real-time data analytics and the rising volume of data are the important factors that are projected to fuel the growth of the global in-memory analytics market over the forecast period. In addition, the increasing focus on advancements in technology in computing power is likely to accelerate the growth of the overall market in the coming years. However, the maintenance and management of data quality is considered as a major challenge for key players operating in the market, which is estimated to restrict the growth over the forecast period. Nonetheless, the increasing adoption by SMBS is projected to generate promising growth opportunities in the near future.
Global In-Memory Analytics Market: Regional Outlook
The research study offers a detailed overview of the regional segmentation of the global in-memory analytics market in order to help the players in making business decisions effectively. Among the key segments of the global market, North America is expected to witness a strong growth throughout the forecast period. The robust growth of this region can be attributed to the presence of several leading players. In addition, the early adoption of emerging and new technologies is another factor expected to accelerate the growth of the market in the next few years.
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Furthermore, Asia Pacific market for in-memory analytics is predicted to grow at a significant pace in the forecast period. The rising demand for cost-effective in-memory analytics services and software, especially among medium and small-sized businesses is likely to contribute extensively towards the development of the Asia Pacific market in the next few years.
Global In-Memory Analytics Market: Competitive Analysis
The global market for in-memory analytics is extremely competitive in nature with a large number of players operating in it across the globe. The rising level of competition and the projected rise in the number of new entrants are anticipated to enhance the growth of the overall market in the next few years. The leading players in the market are focusing on offering effective and innovative solutions to consumers in order to enhance their presence and attain a prominent position in the global market.
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Some of the prominent players operating in the in-memory analytics market across the globe are Qlik Technologies, Inc., SAP SE, Oracle Corporation, SAS Institute, Inc., Activeviam, Kognitio Ltd., Exasol, Hitachi Group Company, Information Builders, Inc., Amazon Web Services, IBM Corporation, Software AG, Microstrategy Incorporated, and Advizor Solutions, Inc.
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