Market Size of In-memory Computing Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 25.37 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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In-Memory Computing Market Analysis
The In-memory Computing Market was valued at USD 15.96 billion in 2020 and expected to reach USD 61.66 billion by 2026 and grow at a CAGR of 25.37% over the forecast period (2021-2026). Adoption of In-memory Computing, also known as IMC, is on the rise. This can be attributed to the growing demand for faster processing and analytics on big data, the need for simplifying architecture as the number of various data sources increases, and technology enhancements that are optimizing total cost of ownership (TCO).
- To maintain a competitive edge and meet the demands for optimal customer experience in the current scenario, enterprises are seeking for solutions to deal with the constant upsurge of available data and the never-ending demands for better and faster performance. This is boosting the development of In-Memory Computing technologies.
- Over the past several years, companies across a broad range of industries increasingly started adopting in-memory computing platforms to achieve the application performance and scalability they need to achieve their digital transformation or omnichannel customer experience goals.
- For instance, American Airlines is using in-memory computing to accelerate response times, automate processes and meet SLAs for business applications that process huge datasets from multiple sources.
- Further, developments with respect to peer-to-peer transactions, bitcoins and mobile wallets are an addition to the instant payment capabilities. This enables the service providers to ensure a level of reliability and scale capacity ahead of demand. And, in-memory computing platform helps them by offering low latency, scalability and resilience.
- The outbreak of Covid-19 will affect the chip manufacturing industry in the short-term as several operations have come to a halt because of global lockdown. But at the same time, companies are collaborating to find the cure of this pandemic using advance computing, which uses IMC, for analysis. For instance, recently Intel and Lenovo collaborated with the Beijing-based BGI Genomics to apply its technology and expertise, and further accelerate the analysis of genomic characteristics of COVID-19.
