Global In-Memory Data Grid Market – Introduction
- In-memory data grid (IMDG) is specifically designed to offer high scalability & availability by allocating data across multiple sources. In-memory data grid (IMDG) is also designed to build as well as run large-scale applications that usually require more random-access memory (RAM) than is presented in a computer server. IMDG empowers better application performance by deploying RAM and the processing power of numerous computers that can easily run tasks. IMDG is valuable for large-scale applications that perform wide-ranging equivalent processing on large data groups.
- The increase in demand for social media, cloud, and Internet of Things (IoT) has significantly created demand for applications that require to be tremendously capable and fast to process huge amount of data per second.
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Impact of Coronavirus (COVID-19) on the In-Memory Data Grid Market
Lockdowns across major regions (Europe, Asia, and North America) due to an increase in the spread of Coronavirus (COVID-19) has a positive impact on the in-memory data grid market. During the period of Coronavirus (COVID-19), people have majorly shifted to online content that provides huge data distribution from one source to another, which is expected to positively influence the growth of the in-memory data grid market.
Increasing Demand for Fraud & Risk Management Expected to Drive the Global In-Memory Data Grid Market
- Enterprises generally use fraud & risk management solutions to improve their risk intelligence abilities to overcome upcoming risk exposures. Fraud & risk management is now becoming a major focus for enterprises worldwide. It is progressively becoming significant for several enterprises to provide timely and accurate risk reporting to regulatory or government agencies. Adopting in-memory data grid (IMDG) helps to perform essential analytics, unify business risk data, and report comparatively easily as compared to the traditional approaches toward data management.
- Therefore, financial organizations worldwide are majorly looking for in-memory data grid (IMDG) solutions that can easily process real-time data and enhance their business-critical applications performance more efficiently.
- The impact of this driver is expected to be high throughout the forecast period. Use of in-memory data grids is on the rise across the globe, led by increasing demand for fraud and risk management. This is expected to boost the global in-memory data grid market in the next few years.
Availability of substitute such as In-Memory Databases (IMDB) Expected to Hamper the In-Memory Data Grid Market
- Similar technology such as in-memory databases (IMDB) also empowers high-speed applications. IMDG are suitable when data is recurrently accessed & modified, whereas IMDB is specifically designed for applications that are more focused on storage, where simple calculations are processed across large data subsets.
- Therefore, availability of substitutes such as in-memory databases (IMDB) is expected to hamper the in-memory data grid market.
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North America to Account for Major Share of the Global In-Memory Data Grid Market
- In terms of region, the global in-memory data grid market can be segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- North America is anticipated to account for major share of the global in-memory data grid market during the forecast period due to increasing regulatory compliances among organizations to boost the adoption of in-memory data grids across enterprises, indicating potential growth of the market. Europe is expected to be the second largest market for in-memory data grids from 2020 to 2030.
- Asia Pacific is projected to be a rapidly growing market for in-memory data grids during the forecast period due to growing focus of enterprises to efficiently handle large data volumes, specifically in India, Japan, and China.
Key Players Operating in the Global In-Memory Data Grid Market Include:
- Apache Ignite
- GridGain Systems, Inc.
- Hazelcast, Inc.
- IBM Corporation
- Oracle Corporation
- Parallel Universe
- Red Hat, Inc.
- ScaleOut Software
- Software AG
- TIBCO Software Inc.
Global In-Memory Data Grid Market: Research Scope
Global In-Memory Data Grid Market, by Component
- Training & Support
Global In-Memory Data Grid Market, by Application
- Financial-Instrument Pricing
- Transaction Processing
- User-preference Calculations
- Reservation Systems
- Fraud Detection
- E-commerce Shopping Carts
- Cloud Application
Global In-Memory Data Grid Market, by Enterprise Size
- Small & Medium Enterprise
- Large Enterprise
Global In-Memory Data Grid Market, by End-user
- IT & Telecommunication
- Consumer Goods & Retail
- Media & Entertainment
- Transportation & Logistics
- Others (Healthcare, Energy & Utility etc.)
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?