Growing usage of real-time analytics and technological innovations in computing power drive the growth of the global in-memory analytics market. However, a lack of awareness about this technology across different industry verticals restrains the market growth.
Furthermore, the growing adoption of in-memory analytics among short and medium enterprises is expected to provide new opportunities for market players in the near future.
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The report offers detailed segmentation of the global in-memory analytics market based on component, deployment model, organization size, application, industry vertical, and region.
Based on deployment, the on-premise segment contributed to the largest share in 2018, accounting for nearly three-fifths of the total share, and is estimated to maintain its dominant position during the forecast period. However, the cloud segment is estimated to portray the highest CAGR of 27.2% during the forecast period.
Based on application, the sales and marketing management segment accounted for the largest share in 2018, holding more than one-fourth of the total share, and is expected to maintain the largest share throughout the forecast period. However, the predictive asset maintenance segment is expected to register the highest CAGR of 29.6% from 2019 to 2026.
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Based on region, North America contributed the highest share, accounting for more than one-third of the total market share in 2018, and will maintain its dominance throughout the forecast period. However, Asia-pacific is expected to grow at the highest CAGR of 26.9% from 2019 to 2026.
Leading market players analyzed in the research include SAP SE, Amazon Web Services, Inc., SAS Institute Inc., Oracle Corporation, Hitachi, Ltd, International Business Corporation, MicroStrategy Incorporated, Software AG, Kognito Ltd., and Qlik Technologies.
Covid-19 scenario:
- During the Covid-19 pandemic, the demand for in-memory analytics grew as companies across the globe are adopting business intelligence (BI) and analytics tools to execute their plans and strategies for survival amid the crisis.
- As various companies have adopted “work from home” approach for their employees due to lockdown, the demand for in-memory analytics is expected to surge. In-memory analytics offers workload optimization to assist organizations in decreasing their latency and provide rapid response time to their clients.
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