Dublin, Oct. 28, 2020 (GLOBE NEWSWIRE) -- The "In Memory Data Grid Market - Growth, Trends, and Forecast (2019-2024)" report has been added to ResearchAndMarkets.com's offering.
The In Memory Data Grid Market is expected to register a CAGR of over 11% over the forecast period 2020 - 2025. In Memory Data Grids are suited to handle Big Data's "big-three V's": variability, velocity, and volume.
With the emergence of technologies such as Big Data, cloud, mobile, and IoT, businesses need their applications to provide higher performance, flexibility, availability, reliability, and scalability than ever before.
For instance, the amount of data generated is growing at a rapid pace. According to Seagate Technology PLC, the volume of data created worldwide is expected to increase to 47 zettabytes and 163 zettabytes in 2020 and 2025, respectively, from 12 zettabytes in 2015.
Additionally, the rising usage of the cloud has supported the data generated across various verticals. With the rapid growth of the cloud, enterprises of all sizes and industries are producing more data than ever, even up to terabytes per second. These data provide insights with potential business value.
However, this massive data growth is creating new obstacles that make it difficult for applications to meet such demands. Scaling the data tier creates both economic and technical challenges for organizations.
With the implementation of Platform-as-a-Service (PaaS), cloud, and container-based infrastructures, these challenges have become even more complicated. Whether data is hosted in the cloud, or on-premise, in a distributed or centralized architecture, IT infrastructures are more complex than ever before. Organizations are in need of flexible applications that can be used in a variety of hybrid cloud environments.
Key Market Trends
Growing Need for Real Time Data Processing in BFSI Driving the Industry Growth
Growing digitalization are compelling financial companies to build a lean, flexible, and efficient approach to cater to their customers. Financial institutions deal with critical information, which, if not properly processed, can have severe financial and ethical implications.
North America is Expected to Hold Major Share
North America is expected to hold a major share due to the growing adoption of data grid solutions across industries such as BFSI, healthcare, and retail. The region has a strong foothold of key vendors, which contributes to the growth of the market.
Competitive Landscape
The In-Memory Data Grid market is moderately fragmented consisting of various vendors such as GridGain, Hazelcast, Software AG, Oracle Corporation, and GigaSpaces Technologies Inc., among others. Vendors in the market are aiming to capitalize on opportunities by focusing on its applications in e-commerce, financial-instrument pricing in banks, and others. Vendors are adopting several organic and inorganic growth strategies, such as partnerships and collaborations, new product launches, and mergers and acquisitions, to strengthen their presence in the market. Some of the recent developments in the market are:
November 2019 - Hazelcast Inc. announced that its in-memory data grid features optimizations for Intel Optane DC Persistent Memory, which offers increased data density and more cost-efficient access to in-memory speeds. The latest update to Hazelcast IMDG also enhances performance, scalability, and reliability for mission-critical, time-sensitive workloads.
Reasons to Purchase this report:
Key Topics Covered:
1 INTRODUCTION
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Need for Attaining Unprecedented Levels of Speed at Data Processing
4.2.2 Growth of Big Data
4.3 Market Challenges
4.3.1 Maintaining Data Security
4.4 Industry Use Cases
4.5 Porters 5 Force Analysis
4.5.1 Threat of New Entrants
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Bargaining Power of Suppliers
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 Component
5.1.1 Solution
5.1.2 Services
5.2 Deployment Type
5.2.1 On-premise
5.2.2 Cloud
5.3 End-user Industry
5.3.1 BFSI
5.3.2 IT and Telecommunication
5.3.3 Retail
5.3.4 Healthcare
5.3.5 Transportation and Logistics
5.3.6 Other End-user Industries
5.4 Geography
5.4.1 North America
5.4.2 Europe
5.4.3 Asia Pacific
5.4.4 Latin America
5.4.5 Middle East & Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Hazelcast Inc.
6.1.2 GridGain Systems Inc.
6.1.3 Oracle Corporation
6.1.4 IBM Corporation
6.1.5 Pivotal (VMware Inc.)
6.1.6 GigaSpaces Technologies Inc.
6.1.7 Software AG
6.1.8 ScaleOut Software
6.1.9 Alachisoft
6.1.10 TIBCO Software Inc.
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
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