NEW YORK, Dec. 11, 2023 /PRNewswire/ — The global streaming analytics market size is estimated to increase by USD 23.6 billion from 2022 to 2027. The market’s growth momentum will be progressing at a CAGR of 28.89% during the forecast period. By geography, the global streaming analytics market is segmented into North America, APAC, Europe, Middle East and Africa, and South America. The report provides actionable insights and estimates the contribution of all regions to the growth of the global streaming analytics market. North America is estimated to account for 33% of the market growth during the forecast period. Since the region is an early adopter of sophisticated technology and a global leader in the intensive production and consumption of data, the region is a key market for streaming analytics. The market for advanced analytics is driven by the enormous volumes of data produced in North America, which are analyzed to find insightful relationships and insights. Hence, such factors drive the market growth of the region during the forecast period. Get the market share report that provides valuable insights and analysis on the current state of the market. –Request a sample report Today!
Streaming analytics market – Vendor Analysis
Vendor Landscape – The global streaming analytics market is fragmented, with the presence of several global as well as regional vendors. A few prominent vendors that offer streaming analytics in the market are Adobe Inc., Alphabet Inc., Altair Engineering Inc., Amazon.com Inc., Cloudera Inc., Conviva Inc., Coralogix Ltd., Hewlett Packard Enterprise Co., Impetus Technologies Inc., Informatica Inc., Intel Corp., International Business Machines Corp., Microsoft Corp., Mphasis Ltd., Oracle Corp., SAP SE, SAS Institute Inc., Software AG, Striim International Inc., Teradata Corp., and TIBCO Software Inc. and others.
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Vendor Offerings –
- Alphabet Inc. – The company offers streaming analytics such as google cloud streaming analytics.
- Amazon.com Inc. – The company offers streaming analytics such as Amazon kinesis data analytics.
- Cloudera Inc. – The company offers streaming analytics such as cloudera stream processing.
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Streaming Analytics Market – Segmentation Assessment
Segment Overview
This streaming analytics market report extensively covers market segmentation by deployment (cloud and on-premise), type (software and services), and geography (North America, APAC, Europe, Middle East and Africa, and South America).
- The market share growth by the cloud segment will be significant for overall market growth during the forecast period. Utilizing remote public or private computing resources like the cloud, is a component of cloud-based streaming analytics solution deployment. The users of this deployment model benefit from the streamlining of business intelligence procedures. In order to make decision-making more effective, it aids in gathering, integrating, analyzing, and presenting derived insights in real-time. Hence, such factors drive the segment growth during the forecast period.
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Streaming Analytics Market – Market Dynamics
Key Driver –
The increasing adoption of IoT-based devices significantly drives market growth. The use of connected devices grows across the globe. This makes the task to manage, monitor, and maintain the data in an organization more difficult. As IoT devices make managing, monitoring, and maintaining easier, M2M, and machine-to-human (M2H) communications are experiencing greater demand. IoT analytics uses information from a variety of sources, including sensors, barcodes, GPS, RFID, and barcode readers. These technologies support to effectively track and manage of physical assets across a wide range of industries. For example, products with RFID tags are simple to follow throughout the supply chain. RFID also aids to manage and maintain inventory levels.
Key Trends –
- Integration with AI (Artificial Intelligence) and ML (Machine Learning) technologies is an emerging trend in the streaming analytics market growth.
- The capabilities of streaming analytics solutions improve with AI and ML to deliver more precise and predictive insights.
- By integrating AI and ML technologies with streaming analytics, businesses can improve their decision-making processes, better understand their data, and find new opportunities.
- For instance, AI and ML can be used to spot patterns in streaming data and forecast future trends, enabling businesses to take preventative action to deal with potential problems.
- Hence, such trends fuel the growth of the market during the forecast period.
Major challenges –
- Data privacy and security concerns are major challenges that may hinder market growth.
- Privacy and security issues are becoming more difficult due to digitalization spreads across all industries.
- In addition, the COVID-19 outbreak has had a detrimental effect on a number of industries globally.
- The shortage of labor in the manufacturing sector increased reliance on automation, digitalization, and remote monitoring in a number of different industries.
- Moreover, the adoption of Industry 4.0 in manufacturing industries and the culture of remote working in the IT sector is expected to increase.
- Hence, such challenges impede the market growth during the forecast period.
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What are the key data covered in this Streaming Analytics Market report?
- CAGR of the market during the forecast period
- Detailed information on factors that will drive the growth of the streaming analytics market between 2023 and 2027
- Precise estimation of the size of the streaming analytics market and its contribution to the market with a focus on the parent market
- Accurate predictions about upcoming trends and changes in consumer behavior
- Growth of the streaming analytics market across North America, APAC, Europe, Middle East and Africa, and South America
- A thorough analysis of the market’s competitive landscape and detailed information about vendors
- Comprehensive analysis of factors that will challenge the growth of streaming analytics market vendors
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TOC
- Executive Summary
- Market Landscape
- Market Sizing
- Historic Market Size
- Five Forces Analysis
- Market Segmentation by Deployment
- Market Segmentation by Type
- Customer Landscape
- Geographic Landscape
- Drivers, Challenges, and Trends
- Company Landscape
- Company Analysis
- Appendix
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