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
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
Streaming Analytics Market Report Coverage
|Market||Streaming Analytics Market|
|Streaming Analytics Market Size 2022||USD 19.4 Billion|
|Streaming Analytics Market Forecast 2032||USD 192.0 Billion|
|Streaming Analytics Market CAGR During 2023 - 2032||25.9%|
|Streaming Analytics Market Analysis Period||2020 - 2032|
|Streaming Analytics Market Base Year||2022|
|Streaming Analytics Market Forecast Data||2023 - 2032|
|Segments Covered||By Component, By Deployment, By Application, By End-Use, And By Geography
|Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., Software AG, Informatica LLC, Hitachi Vantara Corporation, Impetus Technologies Inc., DataTorrent Inc., and SQLstream Inc.
||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Covid-19 Analysis, Regulation Analysis|
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
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
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
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
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
The Middle East & Africa
Streaming Analytics Market Regional Analysis
North America is dominating the streaming analytics market due to several factors that have contributed to the region's strong position in the industry. One of the main drivers of growth in the North American market is the high adoption rate of advanced technologies and cloud computing, which has led to increased demand for real-time data analysis and insights. North American organizations have been early adopters of streaming analytics solutions and have invested heavily in developing the infrastructure needed to support these technologies. Another key factor contributing to North America's dominance is the presence of major technology players in the region. The United States is home to some of the largest technology companies in the world, such as Amazon, Microsoft, and Google, all of which offer streaming analytics solutions. These companies have been at the forefront of developing new and innovative streaming analytics solutions, which have helped to drive the adoption of the technology in North America and beyond.
Streaming Analytics Market Player
Some of the top streaming analytics market companies offered in the professional report include IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., Software AG, Informatica LLC, Hitachi Vantara Corporation, Impetus Technologies Inc., DataTorrent Inc., and SQLstream Inc.
The market size of streaming analytics was USD 19.4 Billion in 2022.
The CAGR of streaming analytics is 25.9% during the analysis period of 2023 to 2032.
The key players operating in the global market are including IBM Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Tibco Software Inc., Software AG, Informatica LLC, Hitachi Vantara Corporation, Impetus Technologies Inc., DataTorrent Inc., and SQLstream Inc.
North America held the dominating position in streaming analytics industry during the analysis period of 2023 to 2032.
Asia-Pacific region exhibited fastest growing CAGR for market of streaming analytics during the analysis period of 2023 to 2032.
The current trends and dynamics in the streaming analytics industry include growing demand for real-time data analytics, and increasing adoption of IoT devices and technologies.
The software component held the maximum share of the streaming analytics industry.