Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 24.39 Billion | USD 193.32 Billion | 25.86% | 2023 |
According to the report published by Zion Market Research, the global Streaming Analytics Market size was valued at USD 24.39 Billion in 2023 and is predicted to reach USD 193.32 Billion by the end of 2032. The market is expected to grow with a CAGR of 25.86% during the forecast period. The report analyzes the global Streaming Analytics Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Streaming Analytic industry.
Different organizations across the world are producing the large volume of data which are not organized. In the recent years, the organizations have become aware of the advantages of using real-time data analytics and thus have started using the techniques of streaming analytics in their operations. By the utilization of streaming analytics, the organizations have started gaining more revenue owing to the cutting preventable losses and the increasing operational efficiency.
The applications where streaming analytics are used include algorithmic trading, intelligence and surveillance, vehicle tracking and route monitoring, customer engagement, real-time patient monitoring system, supply chain optimization and procurement, IT and network monitoring, real-time call center analysis, oil & gas operations management, and others.
The key factor that is accelerating the market growth is the need to find advanced solutions in order to take the real-time decisions on the business events is gripping the large enterprises and SMEs to deploy streaming analytics. There is an increase in the adoption of IoT across different verticals which in turn is increasing the demand for the data streaming solutions. Thus the market for the streaming analytics is growing across the globe. Along with this, there are also some factors that are restraining the streaming analytics market growth which include lack of data security and privacy of data and low returns on the investments are hampering the market growth.
Report Attributes | Report Details |
---|---|
Report Name | Streaming Analytics Market |
Market Size in 2023 | USD 24.39 Billion |
Market Forecast in 2032 | USD 193.32 Billion |
Growth Rate | CAGR of 25.86% |
Number of Pages | 200 |
Key Companies Covered | Microsoft Corporation, Oracle Corporation, Informatica Corporation, TIBCO Software, SQLStream, SAS Institute, SAP SE, IBM Corporation, Software AG, and Impetus Technologies |
Segments Covered | By Type, By Application, By Deployment Mode, By The Industrial Vertical and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The streaming analytics market is globally segmented into its type, application, deployment mode, and the industrial vertical. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.
On the basis of Type, the global market is segregated into software and service. The service segment is further sub-segmented into managed services and professional services.
Based on the Application, the market is categorized into fraud detection, predictive asset maintenance, network management and optimization, operations management, sales and marketing management, risk management, location intelligence, and others.
On the basis of Deployment Mode, the global streaming analytics market is divided into on-demand and on-premises.
The Different Industrial Verticals where streaming analytics market is applied includes telecommunication & IT, healthcare & life sciences, government & defense, transportation & logistics, BFSI, retail & e-commerce, manufacturing, energy & utilities, media & entertainment, and others.
The Regional segment includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Key Growth Drivers
The streaming analytics market is experiencing a significant surge, primarily driven by the exponential growth of real-time data from various sources, including IoT devices, social media, and connected sensors. Businesses across industries such as finance, manufacturing, and retail are recognizing the need for instant insights to make agile decisions, detect fraudulent activities, and enhance customer experiences. The increasing adoption of cloud computing and edge computing further fuels this growth by providing scalable and cost-effective infrastructure for processing data streams with low latency. Additionally, the integration of advanced technologies like AI and machine learning into streaming analytics platforms is creating powerful tools for predictive analysis and automated decision-making.
Restraints
Despite the strong drivers, the streaming analytics market faces certain restraints. The high initial investment required for implementing the necessary hardware, software, and skilled personnel can be a significant barrier, particularly for small and medium-sized enterprises (SMEs). The complexity of integrating streaming analytics solutions with existing legacy systems and databases poses a major challenge for many organizations. Furthermore, data privacy and security concerns are a key restraint, as the real-time processing of sensitive information from various sources requires robust security measures and compliance with evolving data protection regulations. The lack of a skilled workforce with expertise in real-time data processing and analytics also presents a hurdle.
Opportunities
The market is ripe with opportunities, especially with the continuous evolution of technology. The rapid growth of the electric vehicle (EV) market and the increasing use of battery storage systems present a significant opportunity for leveraging streaming analytics to optimize charging and energy management. The expansion of the male grooming segment and the growing demand for natural and organic products in the beauty and personal care industry offer avenues for new product development and market penetration. Furthermore, the rising awareness of skin health and the growing elderly population in Vietnam create opportunities for brands to develop and market specialized anti-aging and derma-cosmetic products.
Challenges
The streaming analytics market is confronted with several challenges. The fierce competition from other analytics solutions, including traditional batch processing and on-premise platforms, necessitates continuous innovation to maintain a competitive edge. The complexity of managing and processing high-volume, high-velocity data streams in real-time is a constant challenge, requiring sophisticated infrastructure and robust data governance policies. The skills gap in the workforce, with a shortage of data scientists and engineers who can effectively implement and manage these systems, is another significant hurdle. Finally, the need to address concerns about data accuracy, consistency, and compliance with data sovereignty regulations across different geographical locations adds a layer of complexity to market expansion.
Global Streaming Analytics Market: Regional Analysis
Region-wise, the global streaming analytics market is diversified into North America, Asia-Pacific, Europe, and Rest of the World. The region that dominates the streaming analytics market is the North America. The factors that attribute this growth are the increase in the technological advancements and the early adoption of the technology. The Asia Pacific region is also growing at a good pace. The factors that attribute this growth are the increasing opportunities in the emerging economies such as China, Japan, and India and the technological advancements.
The key market players in the streaming analytics market include:
The global streaming analytics market is segmented as follows:
By Type
By Application
By Deployment Mode
By Industrial Verticals
FrequentlyAsked Questions
Organizations worldwide are generating an immense quantity of unstructured data. In recent years, they have recognized the benefits of real-time data analytics and have incorporated streaming analytics techniques into their operations.
The primary driver of market expansion is the necessity for large enterprises and SMEs to implement streaming analytics in order to make real-time decisions based on business events. The demand for data streaming solutions is on the rise as a result of the growing adoption of IoT across various verticals.
According to the report published by Zion Market Research, the global Streaming Analytics Market size was valued at USD 24.39 Billion in 2023 and is predicted to reach USD 193.32 Billion by the end of 2032.
The market is expected to grow with a CAGR of 25.86% during the forecast period.
Region-wise, the global streaming analytics market is diversified into North America, Asia-Pacific, Europe, and Rest of the World. The region that dominates the streaming analytics market is the North America. The factors that attribute this growth are the increase in the technological advancements and the early adoption of the technology. The Asia Pacific region is also growing at a good pace. The factors that attribute this growth are the increasing opportunities in the emerging economies such as China, Japan, and India and the technological advancements.
The key market players in the streaming analytics market include Microsoft Corporation, Oracle Corporation, Informatica Corporation, TIBCO Software, SQLStream, SAS Institute, SAP SE, IBM Corporation, Software AG, and Impetus Technologies.
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