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Global In-Memory Computing Market to Witness an Impressive Growth of over 33% Through 2020, Reports TechnavioTechnavio analysts forecast the global in-memory computing market to grow at a CAGR of more than 33% during the forecast period, according to their latest report. The research study covers the present scenario and growth prospects of the global in-memory computing market for 2016-2020. In order to calculate the market size, the report considers the revenue generated from installations, updates, and software licenses, along with technical support cost generated from in-memory computing solutions. In-memory computing technology enables enterprises to achieve productivity through six characteristics: performance, simplification, innovation, single data source, involvement of low risks and costs, and integration. Technavio hardware and semiconductor analysts highlight the following four factors that are contributing to the growth of the global in-memory computing market:
Rapid data explosion in networks Enterprise data is generated through different sources including web applications, social networks, cloud computing, and mobile computing. With the increased adoption of cloud computing and cloud-based applications, there is a rapid growth in the digital content being transmitted across networks. In addition, consumer demand for always being connected through wireless broadband connectivity is growing significantly. This is leading to a large number of data transactions. "Organizations are focusing on delivering superior customer service in the retail sector, where consumers increasingly use devices such as smartphones. In order to deliver such services to customers in real time, a number of retailers are adopting in-memory computing technology," says Sunil Kumar Singh, a lead analyst at Technavio for embedded systems research. Smartphones accounted for 70%-75% of total mobile data traffi in 2015 while tablets accounted for 15%-20%. This data traffic is creating large opportunities for different sectors to adopt in-memory computing technology in order to analyze the vast available data and get productive output. The complex computations to be performed on large data blocks and dynamic storage and retrieval of data from the storage space are leading to a higher demand for in-memory computing. The big data must be easily accessible to end-users and also efficient computing must be performed to derive desired conclusions for better decision making. This, in turn, will drive the demand for in-memory computing solutions. Demand for effective and easy data access The demand for effortless data access among organizations is increasing. This, in turn, is fueling the demand for in-memory computing. In-memory computing processes a large amount of data in the main memory of the server within seconds and helps shorten the execution time of the batch process. In-memory computing enables fast computational speeds, ensuring most accurate results with high data access speed. Traditional disk-based systems also have storage capabilities, but when it comes to faster analysis of data, in-memory computing has a high processing speed. Also, disk-based systems require a large physical space to store large amounts of data. In the current business environment, every organization, regardless of its size, stores a considerably large amount of data. This has further increased the demand for in-memory computing. Exponential growth in the amount of data stored and used Enterprise data is generated from different sources, including enterprise applications, web-based searches, social networks, and cloud-based applications. Currently, any US enterprise with more than 1,000 employees has, on an average, more than 200 terabytes of stored data. Organizations use big data analytics and solutions to keep track of the large volumes of big data generated and use it effectively. It is impossible to manually analyze such large volumes of data. Thus, big data analytics helps enterprises optimize their business decisions and innovate new business models, products, and services offerings. Therefore, big data must be accessible as part of or as an extension to the corporate information framework and should be made available for analysis and decision making which further increases the demand for in-memory computing. Need to improve market responsiveness Businesses are exposed to intense competition. This has led to the need for enterprises to increase the speed of processes that support competitive strategies, which in turn, reduces the cycle time. In-memory computing provides real-time information that can enable organizations to avoid process delays and centralize management to improve market response and decision making. In addition, to achieve competitive advantage, organizations are required to transform the data into actionable intelligence by constant improvement of customer-facing strategies. "Many organizations are using in-memory computing to manage different data types and large volumes of data while reducing IT complexity. Such benefits of in-memory computing are fostering its increased adoption," says Sunil. Browse Related Reports:
Do you need a report on a market in a specific geographical cluster or country but can't find what you're looking for? Don't worry, Technavio also takes client requests. Please contact [email protected] with your requirements and our analysts will be happy to create a customized report just for you. About Technavio Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies. Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users. If you are interested in more information, please contact our media team at [email protected]. View source version on businesswire.com: http://www.businesswire.com/news/home/20160831005036/en/ |
