Streaming Analytics Market
Report ID: SQMIG45B2155
Streaming Analytics Market Size, Share, Growth Analysis, By Component (Software, Services), By Deployment (Hosted, On-premises), By Application (Fraud Detection, Marketing & Sales), By Region -Industry Forecast 2024-2031
Report ID:
SQMIG45B2155 |
Region:
Global |
Published Date: November, 2024
Pages:
184
|Tables:
0
|Figures:
0
Streaming Analytics Market Insights
The global streaming analytics market size was valued at USD 16.78 Billion in 2022 and is poised to grow from USD 23.4 billion in 2023 to USD 171.8 billion by 2031, growing at a CAGR of 28.3% during the forecast period (2024-2031).
Growing demand for data-driven decision-making and increasing generation of real-time data from multiple industry verticals are slated to primarily augment the demand for streaming analytics in the future. Advancements in analytics technologies, growing use of connected devices, and high emphasis on improving customer experience personalization are slated to be other key factors contributing to the global streaming analytics market outlook in the future. Increasing efforts to reduce risks and prevent frauds in the BFSI industry vertical is also estimated to uplift the demand for streaming analytics solutions and services through 2031 and beyond. Growing use of cloud technologies and increasing use of artificial intelligence are also estimated to offer new business scope for streaming analytics providers going forward. On the contrary, complexity in integration with legacy systems, dearth of skilled workforce, high costs on implementation, and data privacy concerns are estimated to be key constraints for streaming analytics demand through 2031 and beyond.
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Streaming Analytics Market Segmental Analysis
Global streaming analytics market is segmented by component, application, deployment, vertical, and region. Based on component, the market is segmented into software and services. Based on application, the market is segmented into fraud detection, marketing & sales, risk management, predictive asset management, network management & optimization, location intelligence, supply chain management, and others. Based on deployment, the market is segmented into hosted and on-premises. Based on vertical, the market is segmented into BSFI, IT & telecom, retail, healthcare, government, media & entertainment, education, and others. Based on region, the market is segmented into North America, Europe, Asia-Pacific, Latin America and the Middle East & and Africa.
Analysis by Deployment
Hosted streaming analytics is projected to account for a dominant share of the global streaming analytics industry in the future. Growing popularity and acceptance of cloud platforms and technologies helps this segment hold sway over others. High flexibility, scalability, affordability, and no need for upfront infrastructure development costs are some key benefits that are estimated to aid the dominance of this segment. Growing adoption of hosted streaming analytics solutions by all types of organizations is also expected to boost revenue generation for streaming analytics providers in the long run. Demand for hosted streaming analytics is expected to be higher in small and medium enterprises through 2031.
Meanwhile, the demand for on-premises streaming analytics is anticipated to rise at a robust pace over the coming years. Better control and security of data offered by on-premises streaming analytics solutions allow this segment to emerge as a highly opportune one going forward. Efforts to improve customer experience without compromising data security are also predicted to create new opportunities for streaming analytics companies going forward. Large enterprises are more likely to opt for on-premises streaming analytics solutions owing to the high costs associated with their deployment and operation. The rising use of streaming analytics in the BFSI industry is slated to help market development via this segment.
Analysis by Component
Software is projected to account for a dominant global streaming analytics market share. Increasing adoption of streaming analytics in multiple organizations across different industry verticals and increasing need for better real-time monitoring capabilities are helping this segment maintain its dominance. Integration of advanced technologies and use of other analytics platforms to cross reference data and generate more meaningful insights will also promote the demand for custom streaming analytics software going forward. Rising adoption of data-driven decision-making practices are also estimated to help this segment promote the use of streaming analytics software in the long run.
Meanwhile, the demand for streaming analytics services is projected to increase at a rapid pace over the coming years. High complexity of streaming analytics solutions and absence of skilled workforce to manage the same are pushing the demand for streaming analytics services around the world. High emphasis of organizations on opting for industry-specific streaming analytics solutions is also estimated to benefit the demand for streaming analytics services in the future. Rising popularity of outsourcing data analytics operations and growing use of cloud-based streaming analytics solutions are also expected to help this segment generate new opportunities for streaming analytics providers across the forecast period and beyond.
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Streaming Analytics Market Regional Insights
North America is anticipated to account for a substantial share of the global streaming analytics market. High real-time data generation, presence of a strong technological infrastructure, and high use of data-driven decision-making are some key factors that aid the dominance of North America on a global level. Canada and the United States are forecasted to be the top revenue-generating countries for streaming analytics providers operating in this region. The presence of multiple streaming analytics providers and tech giants such as Amazon, Facebook, and Google are also expected to contribute to the high share of this region over the coming years.
Rapid growth of the retail and e-commerce industry in the Asia Pacific region allows it to emerge as the fastest expanding market for streaming analytics companies. Rising real-time data generation, growing use of connected devices, and high emphasis on customer experience personalization in retail and e-commerce industry are some top factors generating new business scope in Asi Pacific. India and China are slated to be at the forefront of streaming analytics market forecast for this region with notable contributions from Japan, South Korea, Taiwan, and Indonesia as well. Rapidly increasing urbanization and digitization are estimated to keep the streaming analytics demand afloat in this region.
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Streaming Analytics Market Dynamics
Drivers
- Increase in Real-time Data Generation
Rapidly increasing use of advanced IoT devices and connected devices has led to a major upsurge in real-time data generation around the world. Streaming analytics helps organizations to process real-time data to help identify customer behavior, system health, and market trends thereby also promoting streaming analytics market growth as well.
- High Emphasis on Customer Experience Personalization
Streaming analytics providers can help companies achieve better customer personalization through the analysis of real-time data. Increasing efforts of multiple organizations to improve customer experience has led to high adoption of customer experience personalization, which in turn, is estimated to create new business scope for streaming analytics providers.
Restraints
- Complexity in Integration
Many organizations are still using legacy systems for their operations, however, these systems are not designed to handle real-time data generation. Which is why integrating streaming analytics with such legacy systems becomes a highly complex and resource-intensive task thereby slowing down the demand for streaming analytics going forward.
- Dearth of Skilled Professionals
Streaming analytics is highly complex and requires professionals skilled in data engineering, real-time data processing, and machine learning technologies. However, there is a major shortage of such skilled professionals around the world, which is estimated to impede the adoption of streaming analytics solutions and services in the long run.
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Streaming Analytics Market Competitive Landscape
Streaming analytics companies should focus on developing advanced software and solutions catering to different industry applications. Creating simple and easy to use streaming analytics solutions is expected to be a key area of interest for companies as the lack of skilled workforce worsens. Launching new streaming analytics solutions and integrating advanced technologies to provide better features are also popular strategies among streaming analytics companies as per this streaming analytics market analysis.
Top Player’s Company Profiles
- IBM
- Informatica Inc.
- Microsoft
- SAP SE
- Striim
- Oracle
- SAS Institute Inc.
- Software AG
- Cloud Software Group, Inc.
Recent Developments
- In May 2024, Microsoft, a leading technology giant from the United States announced the addition of a new Real-Time Intelligence workload feature to its Fabric data analytics platform. The new addition helps enterprises analyze and generate actionable insights from their real-time data streams.
- In May 2024, Oracle, a leading American technology organization announced the addition of new features to its GoldenGate Stream Analytics platform. Oracle’s streaming analytics platform now offers support for Spark 3.5 and Kafka 3.7 stream processing platforms and selection of new collections during project import process.
- In October 2022, RisingWave Labs, a new company in the data stream processing business announced that it had raised USD 36 million in a Series A funding round. Yunqi Partners led this round and the company intended to use these funds to launch a new cloud-based data stream processing offering.
Streaming Analytics Key Market Trends
- Use in Retail & e-Commerce Industry: Streaming analytics companies should focus on providing their services and solutions in the retail and e-commerce industry going forward. Demand for personalization and hyper-personalization in this industry vertical is estimated to make this a key streaming analytics market for all companies looking to secure their revenue share in the long run.
- Use of AI and ML for Predictive Analytics: Streaming analytics providers should focus on integrating artificial intelligence and machine learning in their offerings to maximize their business scope as these technologies enable predictive capabilities. This could help streaming analytics solutions identify patterns, detect anomalies, and predict future outcomes whilst standing out from the competition in the future.
Streaming Analytics Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, rapidly increasing digitization, growing real-time data generation, and high emphasis on data-driven decision-making are slated to be key drivers for streaming analytics market going forward. On the contrary, complexity in integration with legacy systems and absence of skilled professionals are slated to be key constraints for streaming analytics providers going forward. North America is slated to top the global streaming analytics demand owing to strong technological infrastructure and quick adoption of advanced technologies. Utilizing artificial intelligence and targeting retail & e-commerce industry are emerging as preferred trends for companies looking to make a mark in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 16.78 Billion |
| Market size value in 2031 | USD 171.8 billion |
| Growth Rate | 28.3% |
| Base year | 2023 |
| Forecast period | (2024-2031) |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
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| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Streaming Analytics Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Streaming Analytics Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Streaming Analytics Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Streaming Analytics Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Streaming Analytics Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Streaming Analytics Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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