PUNE, India, April 20, 2017 /PRNewswire/ --
According to a new market research report "In-Memory Analytics Market by Component (Software, Services), Application (Risk Management & Fraud Detection, Sales & Marketing Optimization, and Financial Management), Deployment, Organization Size, Vertical, Region - Global Forecast to 2022", published by MarketsandMarkets™, the 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%.
Browse 72 market data Tables and 40 Figures spread through 154 Pages and in-depth TOC on "In-Memory Analytics Market"
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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 constitute 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.
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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).
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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