Streaming Analytics Market Size - Global Industry, Share, Analysis, Trends and Forecast 2023 - 2032

The Global Streaming Analytics Market Size accounted for USD 19.4 Billion in 2022 and is projected to achieve a market size of USD 192.0 Billion by 2032 growing at a CAGR of 25.9% from 2023 to 2032.

Report Key Highlights

• Global streaming analytics market revenue is expected to increase by USD 192.0 Billion by 2032, with a 25.9% CAGR from 2023 to 2032
• North America region led with more than 38% of streaming analytics market share in 2022
• According to a study by IDC, organizations that invest in real-time streaming analytics experience an average ROI of 373%
• According to a survey by Forbes Insights, 58% of enterprises say they need to make decisions in real-time or near real-time to be effective
• According to a survey by Accenture, 73% of customers prefer to do business with companies that use their data to make experiences more efficient, personalized, and convenient
• According to a report by IBM, 80% of data generated by devices, sensors, and IoT endpoints is time-sensitive and requires real-time analysis
• Growing demand for predictive analytics and machine learning capabilities, drives the streaming analytics market size

Streaming analytics, also known as real-time analytics or event stream processing, is the process of analyzing data in real time as it is generated by various sources such as sensors, devices, social media, and more. The main goal of streaming analytics is to extract valuable insights and make informed decisions based on the data, often using complex algorithms and machine learning models. This technology is commonly used in industries such as finance, healthcare, retail, transportation, and telecommunications.

The market for streaming analytics has experienced significant growth in recent years, fueled by the increasing volume and velocity of data being generated and the need for organizations to make real-time decisions. The streaming analytics market is also seeing a rise in the adoption of cloud-based solutions, which offer benefits such as scalability, cost-effectiveness, and flexibility. Additionally, advancements in technologies such as artificial intelligence and machine learning are expected to further drive the streaming analytics market growth in the coming years.

Global Streaming Analytics Market Trends

Market Drivers

• Growing demand for real-time data analytics
• Increasing adoption of IoT devices and technologies
• Need for better decision-making in real-time
• Advancements in artificial intelligence and machine learning technologies
• Rising adoption of cloud-based solutions

Market Restraints

• Data privacy and security concerns
• High cost of implementation and maintenance

Market Opportunities

• Integration with other emerging technologies such as blockchain and 5G
• Growing demand for predictive analytics and machine learning capabilities

Streaming Analytics Market Report Coverage

Various organizations across the globe are focused on producing large amounts of data in myriad type of formats. Earlier, organizations were involved in storing and capturing data and using it to extract insights from the database whenever required. Although, currently various organizations are focusing on extracting the benefits of real-time data analytics and have thus started adopting streaming analytics rapidly in their overall operations. Streaming analytics aids organizations in creating increased revenues by increasing the total efficiency of operations and by cutting down preventable losses. Streaming analytics find a wide range of applications in customer engagement, real-time marketing, real-time patient monitoring systems, algorithmic trading, supply chain optimization & procurement, intelligence and surveillance, IT and network monitoring, oil & gas operations management, vehicle tracking, real-time call center analysis, route monitoring and another array of applications. Streaming analytics is known as a fully managed, efficient, and affordable processing engine which can help in the feasible processing of real-time events efficiently and effectively. The streaming analytical engine helps in extracting key insights from an array of data and information easily and conveniently. Despite setting up analytical computations on streaming from applications, websites and more, streaming analytics is efficiently capable of managing other high events as well.

Increasing demand for advanced technological solutions in order to procure real-time decisions on different and dynamic business events is one of the key factors bolstering the deployment of streaming analytics in large enterprises across the globe. Also, the rising adoption of the internet of things across every industry vertical is another key aspect likely to boost the overall demand for data streaming solutions which is another major factor anticipated to drive the growth of the global streaming analytics market over the forecast period. However, factors such as privacy concerns and data security as well as less return on investments are anticipated to hamper the overall growth of the global streaming analytics market value.

Streaming Analytics Market Segmentation

The global streaming analytics market segmentation is based on component, deployment, application, end-use, and geography.

Streaming Analytics Market By Component

• Software
• Services
  • Managed Services
  • Professional Services

According to the streaming analytics industry analysis, the software segment accounted for the largest market share in 2022. The software segment is a key component of the analytics market, as it provides the tools and technologies necessary to analyze data in real time. One of the main drivers of growth in the software segment is the increasing adoption of cloud-based solutions. Cloud-based streaming analytics software offers numerous benefits, including scalability, cost-effectiveness, and ease of deployment. As more organizations move their operations to the cloud, the demand for cloud-based streaming analytics software is expected to increase. Another driver of growth in the software segment is the rising adoption of IoT devices and technologies. IoT devices generate vast amounts of data that can be analyzed in real-time using streaming analytics software. As the number of IoT devices continues to grow, the demand for streaming analytics software is expected to rise as well.

Streaming Analytics Market By Deployment

• Cloud
• On-premise

In terms of deployments, the cloud segment is expected to witness significant growth in the coming years. Cloud-based solutions provide organizations with the flexibility and scalability they need to process and analyze large volumes of streaming data in real-time, without the need for expensive hardware and infrastructure. One of the key drivers of growth in the cloud segment is the increasing adoption of cloud computing in general. As more organizations move their operations to the cloud, they are also adopting cloud-based streaming analytics solutions as a way to improve their data analytics capabilities. Another driver of growth in the cloud segment is the rise of edge computing. Edge computing involves processing data close to the source, rather than sending it to a centralized cloud environment for analysis.

Streaming Analytics Market By Application

• Fraud Detection
• Risk Management
• Network Management & Optimization
• Marketing & Sales
• Supply Chain Management
• Predictive Asset Management
• Location Intelligence
• Others

According to the streaming analytics market forecast, the marketing & sales segment is expected to witness significant growth in the coming years. This segment offers organizations a way to improve their marketing and sales strategies by providing real-time insights into customer behavior, preferences, and trends. One of the key drivers of growth in the marketing and sales segment is the increasing adoption of data-driven marketing and sales strategies. Organizations are using streaming analytics solutions to analyze data in real time, providing them with insights that can help them target customers more effectively, personalize their messaging, and optimize their marketing and sales campaigns.

Streaming Analytics Market By End-Use

• IT & Telecom
• BFSI
• Retail
• Media & Entertainment
• Healthcare
• Education
• Government
• Others

Based on the end-user, the media & entertainment segment is expected to continue its growth trajectory in the coming years. Streaming analytics solutions can help media and entertainment companies improve their content recommendations, optimize their distribution channels, and better understand their audiences. One of the key drivers of growth in the media and entertainment segment is the rise of streaming services. As more consumers shift from traditional broadcast and cable TV to streaming services, media, and entertainment companies are using streaming analytics solutions to analyze viewer behavior and preferences in real time. This can help them make more informed decisions about content development, distribution, and marketing. Another driver of growth in this segment is the increasing use of data-driven content recommendations.

Streaming Analytics Market Regional Outlook

North America

• U.S.
• Canada

Europe

• U.K.
• Germany
• France
• Spain
• Rest of Europe

Asia-Pacific

• India
• Japan
• China
• Australia
• South Korea
• Rest of Asia-Pacific

Latin America

• Brazil
• Mexico
• Rest of Latin America

The Middle East & Africa

• South Africa
• GCC Countries
• Rest of the Middle East & Africa (ME&A)