In memory analytics
may be defined as a method to querying data at the time it is present
in Random Access Memory (RAM) of computer with contrast to querying
of data which gets stored in physical disks. This in turn aims at
shortening query response times and allowing analytic applications
and business intelligence (BI) with an objective to support quick and
fast business decisions. Trend shows that analytics and various
reporting has changed considerably as previously information was used
to extract from mainframe systems and thereby transferred to
spreadsheets for further analysis. With the maturing of technology,
beginning of service-based architecture has become important and
emerged as business intelligence (BI). However, with the advent of
in-memory analytics, expectation of organizations from BI solutions
has also increased .In addition, in-memory analysis delivers rapid
access to various interactive dashboards that user tends to easily
modify and build simply as it helps in quering the data stored in RAM
(random access memory).
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Global In Memory
Analytics market is segmented into component, application and end use
industry. Component segment is further bifurcated into software and
services. Based on application, the market is further segmented into
risk management and fraud detection, financial management, predictive
asset management, sales and marketing optimization and product and
process management among others. In terms of end user industry the
market is segmented into BFSI, defense, healthcare,
telecommunications, energy and transportation among others. The major
driving factors responsible for the growth of global In Memory
Analytics market include technological advancements in computation of
power, growing trend for self-service BI Tools, digital
transformation using real-time data analytics and growth in volume of
data. The application of in-memory analytics is growing at a rapid
pace among businesses owing to proactively avoid major financial and
operational risks and enhanced risk intelligence capabilities. In
addition there has been higher adoption of on-premises deployment
model owing to the need to protect sensitive business data in
comparison to the cloud deployment model. However, lack of awareness
regarding the concept of in memory analytics is restraining the
growth of global In Memory Analytics market. In addition lack of
developer skills and end user to deploy business intelligence
applications is also hampering the growth of this market. In
addition, improved security and scalability with cloud-based
in-memory analytics followed by higher adoption rate by SMBS serves
as opportunities for the global In Memory Analytics Market.
Globally, on the
basis of geography, In Memory Analytics market has been segmented
into North America, Asia Pacific, Europe, Latin America and Middle-
East and Africa (MEA). In 2016, North America held the largest share
of the In Memory Analytics market owing to the early adoption of new
technologies in this region. In addition, presence of large number of
in-memory analytics vendors in North America also aims at
consolidating the majority of revenues in the In Memory Analytics
market. Europe followed North America in the global In Memory
Analytics market in terms of revenue. Asia Pacific is expected to
grow at fastest rate during the forecast period. Demand for
cost-effective analytical software and services among Small and
Medium-Sized Businesses (SMBs) followed by growing technology
expenditures in countries such as China & India is acting as a
driving factor in the growth of global In Memory Analytics market All
these factors are expected to increase the demand of In Memory
Analytics market during the forecast period from 2017- 2025.
The major players
operating in the global In Memory Analytics market includes SAP SE
(Germany), Kognitio ( England), Hitachi Group Company (Japan), Oracle
Corporation (The U.S.), Information Builders (The U.S.), Amazon Web
Services (The U.S.), ADVIZOR Solutions (The U.S.), Micro Strategy
Incorporated (The U.S.) and IBM Corporation (The U.S.) among others
.
The report offers a
comprehensive evaluation of the market. It does so via in-depth
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about market size. The projections featured in the report have been
derived using proven research methodologies and assumptions. By doing
so, the research report serves as a repository of analysis and
information for every facet of the market, including but not limited
to: Regional markets, technology, types, and applications
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