The global main memory database system market is expected to grow at a significant CAGR during the forecast period. A main memory database system is a database management system that stores computer data largely in the main memory. The higher rate of business analytics and the increase in web-based transactions are the primary factors driving the global main-memory database market expansion. In-memory databases are becoming more popular among new users as well as established market participants. Due to the rapid pace of technological advancements and the growing demand from many industry verticals that use the database, the global market for in-memory databases is expected to rise rapidly. As a result, governments and corporate entities have begun to embrace the main-memory database.
The growing demand for real-time data monitoring and analytical data processing from the main business verticals is driving the global market for the main memory databases. E-commerce, for instance, has placed a greater emphasis on collecting data on customers to better understand and forecast their purchase habits. In-line memory databases assist enterprises in implementing the same, and as a result, the market is expected to grow at a healthy rate throughout the projected period. Furthermore, as most of the infrastructure of IoT applications is supported by these databases, the expansion of IoT-connected devices has been fueling the growth of the global main-memory databases market. Furthermore, the global market for main-memory databases has benefited from the growing demand for superior risk management solutions by various enterprises.
However, the market growth is being hampered by issues such as a lack of awareness across industries. Management and maintenance of data quality, as well as a lack of end-user and developer skills to deploy BI applications, are significant roadblocks to the global in-memory databases market’s overall growth. Nonetheless, technological developments, lower main memory hardware prices, increased usage by SMBS, and untapped potential in emerging countries all present prospects for growth.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: ENEA, Oracle Corp. SAP SE among others.
Main Memory Database System Market by Segment
By Type
- Relational
- NoSQL
- NewSQL
By Application
- Transaction
- Reporting
- Analytics
- Others
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Main Memory Database System Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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