Published Date : Mar 29, 2017
ALBANY, New York, March 29, 2017 – The global in-memory on-line analytical processing (OLAP) database market has been anticipated by expert analysts to rise at a CAGR of 24.95% between 2016 and 2020, according to a report added by MarketResearchReports.biz. The report is titled as “Global In-Memory OLAP Database Market 2016-2020.” The analysts have foreseen the market to witness a positive impact on the back of an elevating adoption of the technology in small and medium-sized enterprises (SMEs). One of the reasons for this rise in the adoption of OLAP database among SMEs could be the advantage of cheaper operating costs and speed processing.
However, factors such as hardware specification requirements have been predicted to cause a hindrance in the growth path of the world in-memory OLAP database market. Nonetheless, the researchers have studied the market to offer opportunities, such as the trend where columnar database can be processed in parallel, to rise above the odds. The benefit of faster processing can be easily achieved with the implementation of parallel processing where data is stored in columns. This also helps to make the best use of disk storage space as column data storage brings down the quantity of data to be loaded.
The geographical reports of the global in-memory OLAP database market includes key regions such as the Middle East and Africa, Europe, Asia Pacific, and the Americas. The developed nations of North America such as Canada and the U.S. have been prognosticated to help the Americas attract a towering demand while riding on the presence of top-tier enterprises such as Google, Yahoo, Amazon, and eBay. In 2015, the Americas had been evaluated by the report authors to rake in a handsome revenue share. This dominance of the region could continue until the end of the forecast period. Less developed nations such as Argentina, Chile, Mexico, and Brazil could see a propelling growth due to the employment of the OLAP technology in sectors such as telecom and IT.
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The retail ecommerce industry has been prophesied to account for an impressive share in the end user in-memory OLAP database market due to the rising sales volume witnessed. With a view to acquire a large amount of data through extracting and processing in real time, retail ecommerce businesses could implement OLAP at a telling rate.
Some of the leading companies that have been envisaged to make a mark in the international in-memory OLAP database market are SAP SE, Oracle, Microsoft, IBM, and Altibase. Smaller companies operating in the market could gain traction on the basis of product differentiation and factors such as flexibility, customer services, features, software license support, training and product price. However, the top players have been envisioned to still dominate the market with larger shares.
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