The in-memory computing market is expected to reach US$77.7 billion at
In-Memory Computing Market 2022
In-Memory Computing Market 2022
The global in-memory computing market is expected to grow at a CAGR of 17.5% throughout the forecast period. The industry is expected to grow to US$77.7 billion by 2032, from US$15.5 billion in 2022.
The exponential expansion of big data for better machine-driven decision-making, lower overall RAM and TCO costs, and increased production with real-time, low-latency transaction processing are advancing the in-memory computing market share.
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One of the critical issues in the in-memory computing market is data security and the inability to build BI applications. Furthermore, one of the major restraints in the industry is the lack of standards, growing data volatility, skilled workforce, and complexity of data mining in the analytics market.
Rising demand for faster processing and analysis of big data and increased usage of internet services are expected to positively impact the adoption trends of the in-memory computing market.
Additionally, the market is growing owing to an increasing acceptance of in-memory computing to gain a competitive advantage, improve performance, and strengthen the presence in the analytics market.
However, data instability and data security concerns are stifling the expansion of the in-memory computing market. Furthermore, the ability of in-memory computing technology to provide speed, scalability, flexibility, and accessibility at low cost presents good potential for market expansion over the projection period.
Organizations are now integrating techniques related to advanced analytics, a part of BI, such as object analytics (AoT), predictive analytics, and machine learning ML, into their in-memory computing systems.
These procedures are difficult to master and require a deep analytical understanding. Instead of evaluating big data, organizations spend most of their efforts acquiring and correcting data generated from many sources. Not all staff who work with data need to be data scientists.
To support the implementation of a data-driven and decision-making culture, business expertise is also essential, as well as appropriate training. Therefore, one of the most significant challenges faced by most end-user companies in the in-memory computing market is the lack of analytics capabilities, which is required to build complex BI solutions.
The lack of skilled technicians and consulting expertise is the most significant barrier to implementing in-memory computing. In the early stages of adopting radical technologies, many companies or technology users face common barriers. The absence of general standards and the absence of proven architectural models are two such problems.
With the development of successful vendors, a growing network of implementation partners, and the current open source momentum, talent availability issues should fade quickly; Yet, in-memory computing and the analytics market remains a niche technology area, and availability of skills remains a challenge at the moment.
Key points to remember
The in-memory computing market share in the United States is expected to reach $24.8 billion by 2032.
The requirement for companies to focus heavily on expanding their risk intelligence skills to combat risk exposures is linked to the growth of the risk management and fraud detection segment.
Due to the existence of growing countries such as India and China, memory computing technology in Asia-Pacific is expected to increase significantly over the projection period. These countries stand out for their business process outsourcing (BPO) and knowledge process outsourcing (KPO) services.
In-Memory technology has been in the market for several years, and the desire for intelligent, interactive experiences requires high-performance back-end systems and programs that send data faster.
Memory computing demand in China is expected to grow at a CAGR of 16.7% by 2032.
Large companies such as SAP SE, Microsoft, Oracle, Altibase and others are dominating the in-memory computing market. To meet market demands, these companies have used a variety of techniques, including the creation of new products, collaborations and partnerships, and business expansions.
Acquisitions and integrations have been a major strategy for major players in the in-memory computing industry to increase their market share, security portfolio, and customer base.
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