In-memory database is one of the fastest growing sub-sets of Database Management Systems (DBMS) and has rapidly evolved from the traditional database management systems, bringing in key functionalities like working with data in-memory rather than reading and writing it from file system. With an in-built capability of performing data management functions at faster magnitude, in-memory database has also imposed lower memory and CPU requirements. Faster data processing, falling RAM prices, and massive amount of data being generated from various industries has potentially fueled the growth of the in-memory database market. The market size is projected to reach USD 6.58 Billion by 2021, growing at a Compound Annual Growth Rate (CAGR) of 19.3% during the forecast from 2016 to 2021
Various vendors prevailing in the market space include Microsoft Corporation (U.S.), IBM Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Teradata Corporation (U.S), Amazon Web Services (U.S.), Tableau software (U.S.), Kognitio Ltd. (U.K.), VoltDB (U.S.), DataStax (U.S.), ENEA (Sweden), McObject LLC (U.S.), and Altibase Corporation (U.S.) Players in this sector have adopted different strategies to extend their worldwide presence and expand their market shares. Partnerships, collaborations, acquisitions, new product launches, upgradations, and expansions are some of the significant strategies adopted by the market players to grow in the in-memory database market. Microsoft and IBM have regularly introduced new updates and adopted the organic strategy to enhance their product portfolio so as to cater to their clients efficiently in the in-memory database market.
Microsoft Corporation is one of the leading players in the in-memory database market. The company, with offices in the Americas, Europe, Middle East and Africa (EMEA), and Asia-Pacific (APAC) offers a broad range of products related to advanced analytics, big data discovery, and cloud analytics. The company focuses more on organic growth to tap into the in-memory database market. For instance, in October 2016, it introduced SQL Server Analysis Services, a key feature for the cloud platform. The SQL Server Analysis Services is compatible with databases like SQL server, Azure SQL, and Data Warehouse. Azure Analysis service is a fully managed service that integrates with Microsoft Power BI data visualization tools. The new feature offers the customers cloud-based access to semantic data modelling tools.
IBM Corporation is another major provider of in-memory database solutions. The global multinational released a series of product upgradations to remain competitive in the market. For instance, in October 2016, IBM improved the capabilities of its database software IBM DB2. The new version IBM DB2 12 for z/OS adds in-memory capabilities and enhances real-time analytic processing capabilities up to 100 times over its previous versions. Similarly, in June 2016, IBM upgraded its database software to IBM DB2 V11.1 that facilitates software developers to integrate on-premises applications to the cloud, and enable hybrid data architecture. The application makes hybrid cloud development easier and more flexible.
In-Memory Database Market by Application (Transaction, Reporting, Analytics), Data Type (Relational, SQL, and NEWSQL), Processing Type (OLAP and OLTP), Deployment Model, Organization Size, Vertical, and Region - Global Forecast to 2021
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