Global in-memory computing market to be a $23 billion industry in next 5 years

MUMBAI, INDIA: The global in-memory computing (IMC) market is expected to grow from $5.58 billion in 2015 to $23.15 billion by 2020, at a compound annual growth rate (CAGR) of 32.9 percent, according to Research and Markets.

Opportunities:

IMC has huge opportunities in BFSI, retail, and healthcare sectors. More than 46.6 percent of the IMC revenue has been generated from these (BFSI, retail, and healthcare) verticals in 2015, and it has been estimated that by 2020 BFSI will have the largest market share in this market. Government and IT & telecom are the emerging verticals growing at 32.7 percent and 33.1 percent CAGR respectively.

Drivers:

Asia-Pacific is one of the growing regions in the IMC market. The major driver for this region is increasing volume of big data and growing proliferation of SMBs.

The APAC has a potential market for IMC across various industry verticals such as BFSI, retail, healthcare, government, telecom & IT, and many others. Other regions like Middle East and Africa and Latin America are also expected to gain traction in the forecast period due to rising awareness about the benefits obtained from using the technology, the research firm said.