In-Memory Grid Market 2021 Size, Upcoming Growth by Prospective Developments, Future Trends, Investment Opportunities, Progress Insight, Business Tactics and Forecast Till 2030

In a recent published report, Kenneth Research has updated the market report for In-Memory Grid Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4  billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for In-Memory Grid Market products.

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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further projected to touch USD 6 million by 2023.

Market synopsis

Global in-memory grid market is expected to grow from USD 1.32 billion in 2017 to USD 2.25 billion by 2023, at a CAGR of 11.25% during the forecast period.In-memory grid is a data structure that is distributed across multiple servers such that it provides high availability of data while keeping it in memory. This is largely being adopted to handle the velocity, variability, and volume of big data. Furthermore, the growing demand for distributed architecture that can increase the storage capacity of main memory drive the growth of in-memory grid market.

The Final Report will cover the impact analysis of COVID-19 on this industry:

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In-memory grid market is segregated into two component type, namely, services and solutions. By deployment type the market is bifurcated into cloud and on-premise. The on-premise deployment type is expected to hold the largest market share during the forecast period. Large organizations prefer on-premise deployment owing to the high critical and sensitive data stored in the grid.

By application, in-memory grid market is segmented into transaction processing, fraud and risk management, supply chain, and sales and marketing. The transaction processing segment is estimated to hold the largest market share in 2017. The growing digital transformation initiative across industry verticals to facilitate faster and smoother transaction has led to growing adoption of in-memory grid for transaction processing.

The key players profiled in the in-memory grid market research report are IBM Corporation (US), Pivotal Software, Inc.(US), Oracle Corporation (US), Hazelcast, Inc. (US), Red Hat, Inc. (US), Software AG (Germany), Pivotal Software, Inc.(US), Hitachi, Ltd. (Japan), Hazelcast, Inc. (US), ScaleOut Software, Inc. (US), TIBCO Software Inc. (US), GigaSpaces Technologies Inc. (US. These players constantly focuses on growth strategies such as strategic partnerships, mergers, acquisitions, and product launch to enhance their product offerings and expand their market reach. For instance, in 2018, IBM Corporaion partnered with Red Hat, Inc. to  integrate technologies and services for hybrid cloud sector.

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In-Memory Grid Market

Source: MRFR Analysis

Segmentation

In-Memory Grid market is segmented based on component, deployment type, application, vertical and region.

Based on the component type, the market is segmented into solution and services.

By deployment type, the market is bifurcated into cloud and on-premise.

Application segment includes transaction processing, fraud and risk management, supply chain, sales and marketing

On the basis of vertical, the market is segmented into BFSI, government, healthcare, IT and telecommunication, media & entertainment, retail, and others.

By region, the market is segmented into North America, Europe, Asia-Pacific and the rest of the world.

Regional analysis

The global market for in-memory grid market is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of in-memory grid market is done for North America, Europe, Asia-Pacific, and the rest of the world.

North America followed by Europe is expected to dominate the in-memory grid market from 2018 to 2023 as these regions are sustainable and well-established economies. These economies largely invest in disruptive technologies such as Internet of Things (IoT), big data, DevOps, mobility, and social media. Furthermore, the presence of the best multinational companies in the region further drive the growth in these regions.

Asia-Pacific is estimated to grow at the highest CAGR during the forecast period owing to the rise in rise in adoption of the connected devices and subsequent increase in data volumes.

Competitive Analysis

The in-grid memory market has witnessed the rising demand from regions with strong IT infrastructure owing to the growing need for distributed architecture to enhance storage capacity of main memory. Key players to further strenghten their market position have opted for business expansion and product enhancement as their key organic growth strategy. For instance, in 2018, Oracle corportaion strenghtened its presence in Texas, US by opening new office to provide the necessary resources and training to cloud sales professionals in the region.

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Key players

The prominent players in the in-memory grid market are IBM Corporation (US), Pivotal Software, Inc.(US), Oracle Corporation (US), Hazelcast, Inc. (US), Red Hat, Inc. (US), Software AG (Germany), Alachisoft (US), Hitachi, Ltd. (Japan), GridGain Systems (US), ScaleOut Software, Inc. (US), TIBCO Software Inc. (US), GigaSpaces Technologies Inc. (US), and TmaxSoft. (US). Apart from the top key players, the other players contribute nearly 5–10 % in the In-memory grid market.

Intended Audience

Key Consulting Companies & Advisors

IT solution providers

Venture capitalists

Value-Added Resellers (VARs)

Third-party knowledge providers

System integrators

Cloud service providers

Government agencies

Managed service providers

Information security consulting firms

Networking solution providers

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About Kenneth Research

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