In 2021’s digital, experience-oriented environment, the ability to get real-time insights from quality data is key for competitive success. Market research shows global streaming analytics growing at a compound annual rate of 25.2% and predicts the market value to jump from $12.5 billion in 2020 to almost $39 billion by 2025. 

Trend analysis by global market research company Gartner Inc. indicates that by next year most business systems will have real-time data analysis capabilities. But traditional database systems that store data on disks or solid state drives can’t meet the speed or scale demands of real-time data analysis. This has brought enterprise attention to Redis Labs Ltd., an in-memory open-source database management system long popular with the developer community.

“With a strong foundation with developers and in AI applications, Redis has become a critical component for global enterprises to compete in the digital economy,” according to a statement by Vikas Parekh, partner at the Softbank Group Corp., which has invested in Redis.

To discuss the topic of real-time data in the enterprise, Redis Labs is holding its RedisConf 2021 on April 20-21.

“Real-time streaming is something we at Grafana Labs are really excited about and … Redis is the first data source taking advantage of this,” Torkel Ödegaard, co-founder and chief growth officer of Grafana Labs, told theCUBE. Grafana will be featured on stage during the event’s Day 2 Keynotes.

Redis is connecting developers, product experts and enterprise information technology leaders at its free RedisConf 2021 virtual event starting on April 20. Alongside keynotes from Redis experts, attendees can view demonstrations of the speed and versatility of Redis and attend breakout sessions in themed virtual meeting rooms, as well as watch fireside chats hosted by theCUBE’s John Furrier. (* Disclosure below.)

The event’s main tracks are Build With Redis, aimed at the developer community; Operate Redis at Scale for DevOps, IT Ops and cloud architects; and Redis Industry Solutions, which will demonstrate how Redis is being used by enterprise to solve problems and create value in the digital economy. 

“The theme is the importance of building applications for a world moving to real time,” Mike Anand, vice president of marketing at Redis Labs, told theCUBE. “How do we help developers better deal with that big challenge? And how do we help customers that have built those apps deploy them to perform in real time and run them from anywhere in the world?”

Redis Enterprise connects the dots from the server room to the board room

The COVID-19 pandemic has propelled a wave of cloud-based, real-time analytics adoption, benefitting break-out solutions such as Redis. By keeping data in the server’s main memory, the Redis platform eliminates the delay of the roundtrip to storage and back. Performance stats skyrocket, with less than a millisecond for average read or write operations and support for millions of operations per second. 

In August 2020, the company gathered late-stage funding that shot it from open-source favorite to unicorn status. Just eight months later, the company is celebrating hitting the $2 billion valuation mark, reporting compound annual revenue growth of 54% with a customer list topping 8,500, a retention rate of 120%, and significant adoption by Fortune 100 companies.

“Developers are often a leading indicator of enterprise adoption, and developers have long loved Redis because it’s open source and also incredibly fast,” Matt Asay, head of open source strategy and developer marketing, at Amazon Web Services Inc., told theCUBE. 

Asay encourages enterprise IT decision makers wanting to implement real-time applications into their business to attend the upcoming event. 

“RedisConf promises to be a great place to understand what your developers already know: Redis can be a game-changer for delivering applications that demand extreme performance and scalability,” he said.

For a complete rundown of the RedisConf 2021 keynotes and sessions, including 2 fireside chats with theCUBE’s John Furrier, click here. And for more enterprise tech breaking news, visit siliconangle.com.

(* Disclosure: TheCUBE is a paid media partner for RedisConf 2021. Neither Redis Labs Ltd., the sponsor for theCUBE’s event coverage, nor other sponsors have editorial control over content on theCUBE or SiliconANGLE.)

Photo: Redis