In-memory database market categorizes the global market by application as transaction, reporting, analytics, by data type as relational, SQL, and NEWSQL, by processing type as OLAP and OLTP, by deployment model, by organization size, by vertical, and by region.
Seattle, WA -- (SBWIRE) -- 02/20/2017 -- According to a new market research report "In-Memory Database Market by Application (Transaction, Reporting, Analytics), Data Type (Relational, SQL, and NEWSQL), Processing Type (OLAP and OLTP), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2021", published by MarketsandMarkets, the in-memory database market is estimated to grow from USD 2.72 Billion in 2016 to USD 6.58 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 19.3%. Faster data processing, falling RAM prices, and massive amount of data being generated from various industries are the key driving forces of in-memory database market.
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Online Analytical Processing (OLAP) processing type to grow at the highest CAGR during the forecast period
OLAP is a database technology that has been optimized for querying and reporting, instead of processing transactions. OLAP systems are typically deployed for Business Intelligence (BI) and reporting, business process management, sales management, and forecasting. In-memory OLAP solutions can easily address big data challenges for organizations requiring real-time insights by helping them to dive and explore entire data at once, faster analysis, and ultra-low latency enabling real-time decision-making.
The on-demand deployment model to grow at the highest CAGR during the forecast period
The market by deployment model has been segmented into on-premises and on-demand model. The on-demand deployment model is expected to witness the highest CAGR during the forecast period. The on-demand deployment model will gain traction in the coming years owing to the cost effectiveness, agility, and affordability it offers to the end customer.
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North America is expected to dominate the in-memory database market during the forecast period
The in-memory database market segments the global market on the basis of regions, which include North America, Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America. North America is expected to hold the largest share of the in-memory database market in 2016 due to the presence of large enterprises, technical experts, and growing demands for in-memory database market solutions in this region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021. The ability to provide real-time intelligence with advanced predictive analytics on different applications has boosted the in-memory database market.
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The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their share in the market. Some of the major technology vendors include Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Teradata Corporation (U.S), Amazon Web Services (U.S.), Tableau software (U.S.), Kognitio Ltd. (U.K.), Volt DB (U.S.), DataStax (U.S.), ENEA (Sweden), McObject LLC (U.S.), and Altibase Corporation (U.S.)
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