The in-memory analytics market size is expected to grow from USD 1.26 Billion in 2017 to USD 3.85 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 25.1%. The key forces driving the in-memory analytics market include the digital transformation using real-time analytics, technological advancement in computing power, growing data volume, and demand for self-service Business Intelligence (BI) tools.

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Technological advancements in computing power and growing inclinations towards self-service BI to drive the global in-memory analytics market

In-memory analytics is referred to as an analytical platform in which users run queries and interact with the data stored in the main memory instead of the hard disk. This approach facilitates faster query response, high performance, reduced operational costs, and encourages self-service analytics. It helps reduce the latency of data, thus enabling real-time data analysis with faster extraction of data. In-memory analytics uses the main memory of computing devices instead of the hard disk to retrieve and store data.

Various industries such as BFSI, IT & Telecom, and retail require advanced computing technologies to achieve operational efficiency and serve their customers in a better manner. Analyzing global trends in cloud computing, including their services, reveals the growth of other fields such as parallel processing, advanced software engineering, image processing, and security solutions. The growth in these fields is subsequently driving the growth of computer hardware, internet, mobile technologies, storage, and security markets. For instance, the increased availability of RAM for data storage and analysis has improved flexibility and performance of the in-memory analytics system. Moreover, the introduction of Hybrid Transactional and Analytical Processing (HTAP) enables users to analyze market trends in the minimum possible time. Retailers can track customer trends about product reviews and sales quickly.

Drastic reduction in memory prices and improved scalability and security with cloud-based solutions are major opportunities in the market

In-memory analytics is gaining traction across verticals as organizations have realized that to make timely decisions, the computation time required using traditional analytical tools needs to be reduced. In-memory analytics offers crucial benefits to enterprises such as performance improvements as well as a cost-effective alternative to data warehouses. Opportunities in the in-memory analytics market include the reduction of main memory hardware costs, improved scalability and security with cloud-based in-memory analytics, and high adoption by SMBs that is expected to boost market growth.

Declining memory prices and the adoption of 64-bit computing would increase the adoption of in-memory analytics. IBM, MicroStrategy, Qlik Technologies, SAP, and TIBCO are incorporating in-memory analytics as a key component in their BI platforms. Many organizations that are still using traditional approaches such as summary tables are also moving towards in-memory technology due to the declining prices of hardware and the advent of real-time analytics. The combination of scalable, faster in-memory and flash-based systems, coupled with falling memory prices, has improved the price/performance ratio of in-memory and flash-based analytic solutions, thus helping these architectures emerge as practical, cost-effective alternatives to disk-based database systems.

Risk management and fraud detection application segment is expected to constitute the highest market share during the forecast period

The organizations implement in-memory analytics solutions to enhance risk intelligence capabilities to fight with operational and financial risks. The companies are using advanced analytical tools to avoid, address, and quickly recover from major risk events. The risk management and fraud detection solution helps identify, monitor, analyze, and control risks.

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In-memory analytics software component is expected to contribute the largest market share in 2017

Among components, the in-memory analytics software is expected to continue its dominance throughout the forecast period. In-memory analytics solution empowers the user to perform quick data analysis and achieve real-time insights from the stored data. The falling Random Access Memory (RAM) prices and technological advancements in computing power have propelled the adoption of in-memory analytics software among end-users.

North America is expected to consitute the largest market share; Asia-Pacific (APAC) to grow at the highest CAGR

North America is expected to continue its dominance in terms of market share throughout the forecast period. Early adoption of new & emerging technologies and large number of in-memory analytics vendors in the region would help consolidate the majority of revenues in the market. The APAC region is expected to grow at the highest CAGR during the forecast period. Owing to the growing technology expenditures in countries, such as China & India and the demand for cost-effective analytical software & services among Small and Medium-Sized Businesses (SMBs) would drive the market growth during forecast period.

The major vendors providing in-memory analytics software and services are SAP SE (Walldorf, Germany), MicroStrategy Incorporated (Virginia, U.S.), Kognitio (Berkshire, England), SAS Institute, Inc. (North Carolina, U.S.), Hitachi Group Company (Tokyo, Japan), ActiveViam (London, UK), Oracle Corporation (California, U.S.), IBM Corporation (New York, U.S.), Information Builders (New York, U.S.), Software AG (Darmstadt, Germany), Amazon Web Services (Washington, U.S.), Qlik Technologies, Inc. (Pennsylvania, U.S.), ADVIZOR Solutions (Illinois, U.S.), and EXASOL (Nuremberg, Germany).

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