Resolution:
While running an application in debug mode (using Studio), each jobs data, including activity output, is held in memory for backtracking purposes. Overtime it is expected to grow in memory usage. Depending on the number of jobs executed, the load of each job and complexity of the process/activities, the memory usage will differ. Studio debug mode is not recommended to be used for load/stress testing. On the other hand, in deployed mode at runtime, the job data along with the job is discarded after it is done with the execution of each job. Due to this, there will be a difference in memory utilization for the same application running in debug mode (using Studio) and deployed mode.

Memory utilization when running a BW application in debug mode (Studio) versus deployed mode.