The global in-memory grid market is expected to grow at a CAGR of 11.25% over the forecast period from 2018 to 2023, according to the latest research report from Market Research Future (MRFR). The global in-memory grid market is mainly driven by the growing demand for big data storage architecture in digital enterprises.
In-memory grids or in-memory data grids are a memory storage solution wherein multiple servers are used to provide multiple access points to the data being handled. This enables easy handling of large volumes of data. In-memory data grids are particularly useful when confronted with a high user volume at the same time, which can overload a single server and lead to systemic crashes or other operational errors. This is avoided in in-memory grids, allowing smooth access to multiple users at the same time.
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The growing e-commerce industry is likely to be the major driver for the global in-memory grid market over the forecast period. The e-commerce industry requires stable, reliable memory architecture that can serve multiple customers at the same time, as high customer volume means a higher demand on the server/s. Providing a hassle-free user experience to online shoppers has become a key part of the online shopping sector, as it is crucial in establishing and reinforcing the fundamental advantage e-commerce is supposed to hold over conventional shopping, i.e. the absence of long lines at the billing counter and the ability to find and choose your own items as per your convenience. This is likely to drive the demand for in-memory grid solutions from the e-commerce sector over the forecast period.
The growing demand for digital customer outreach in other sectors such as BFSI, government, and healthcare is also likely to be a major driver for the global in-memory grid market over the forecast period. The growing use of mobile apps for banking or healthcare services is likely to be a major driver for the global in-memory grid market over the forecast period.
Leading players in the global in-memory grid market include GigaSpaces Technologies Inc., TIBCO Software Inc., ScaleOut Software Inc., Hazelcast Inc., Hitachi Ltd., Pivotal Software Inc., Software AG, Red Hat Inc., Oracle Corporation, and IBM Corporation.
In October 2018, IBM announced its acquisition of Red Hat Inc., making IBM one of the largest cloud service providers in the world.
The In-Memory Grid Market is segregated on the basis of component into services and solutions.
By deployment type, the in-memory grid market is bifurcated into cloud and on-premise. The on-premise deployment segment is expected to be the dominant revenue generator for the global in-memory grid market over the forecast period due to the growing preference for on-premise deployment among large enterprises, which place a high value on the critical data being stored in in-memory grids.
By application, the global in-memory grid market is segmented into transaction processing, fraud and risk management, supply chain management, and sales and marketing. Transaction processing is likely to be the leading revenue generator over the forecast period due to the growing demand for cashless transactions around the world.
North America is likely to remain the leading revenue generator for the global in-memory grid market over the forecast period due to the strong presence of large data-centric corporations in the U.S. and Canada, which has driven the demand for in-memory grid networks. The widespread availability of connected devices and the growing demand for device interconnections is likely to be a major driver for the in-memory grid market in North America over the forecast period. The easy availability of cloud architecture in North America, due to the presence of several leading players in the global cloud services market, is also likely to drive the in-memory grid market in the region over the forecast period.
Europe is also likely to be a major player in the global in-memory grid market over the forecast period due to the growing presence of technological enterprises in the region.
LIST OF TABLES
Table 1 Global In-Memory Grid Market, By Region, 2018–2023
Table 2 North America: In-Memory Grid Market, By Country, 2018–2023
Table 3 Europe: In-Memory Grid Market, By Country, 2018–2023
Table 4 Asia-Pacific: In-Memory Grid Market, By Country, 2018–2023
Table 5 Middle East & Africa: In-Memory Grid Market, By Country, 2018–2023
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LIST OF FIGURES
FIGURE 1 Global In-Memory Grid Market Segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global In-Memory Grid Market
FIGURE 4 Value Chain Of Global In-Memory Grid Market
FIGURE 5 Share Of Global In-Memory Grid Market In 2017, By Country (In %)
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