Desire for Real-Time Data Drives In-Memory Computing Market
The ability to discover trends and analyze sales results in real-time has transformed the way many companies conduct daily operations.
However, in order for real-time calculations to be possible, companies must have the necessary computing power behind them.
According to a report from MarketsandMarkets, the in-memory computing (IMC) market is expected to grow at a compound annual growth rate of 43 percent from $2.21 billion in 2013 to $13.23 billion in 2018.
For those that do no know, IMC data is entirely stored and executed on the random access memory (RAM) of a computer. Interest has grown on IMC bydevelopers because of the increase in calculation speed allowing users to see data in real-time instead of traditional storage locations like the hard disk drive (HDD).
There are numerous reasons for the difference of speed between RAM and HDDs. One of the most talked about is unlike HDDs, RAM has no moving parts. Not only does this make it more durable, but also enables faster computation speeds because no parts need to speed up or slow down to work. Another reason RAM is so much faster is that data stored on it can be accessed in any order unlike HDDs. This means users can directly access a file stored on RAM while to access files stored on HDDs they must go through a strict process from beginning to end and complete all the steps in between.
The downside to IMC and storing information solely on RAM is that if power is unexpectedly lost and the information was not backed up on the HDD or some other type of storage device (e.g. external HDD, Flash Drive, etc.) then the information is lost. RAM requires constant power in order to hold information and execute commands and is cleared every time the computer is shutdown, restarted or loses power.
While purchasing additional RAM is more expensive than purchasing an external HDD or Flash Drive, the expected growth in the IMC market indicates that more companies (and possibly more individual consumers) will not only realize but begin to utilize its power in the coming years.