Streaming Analytics Market Size, Competitive Landscape and Market Forecast - 2029

SKU: DMICT1928 | Last Updated On: Jun 28 2022 | Available Formats

> Global Streaming Analytics Market Expected to reach a high CAGR of 32% By 2029 | DataM Intelligence

Global Streaming Analytics Market is segmented By Type (Software, Service), By Deployment (On-premise, Cloud-based), By End-User Industry (Oil & Gas, Retail, Healthcare, BFSI, Telecommunication, and others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029

 

Market Overview

The Global "Streaming Analytics market" is expected to grow at a CAGR of 32% during the forecasting period (2022 - 2029).

The increasing adaptation of new advanced analytics tools for quick and better decision making by enterprises all around the world will grow the market for Streaming Analytics in the forecast period.

Streaming Analytics is driving insights from the streaming data. Streaming Data is data that is generated continuously by thousands of data sources, which typically send in the data records simultaneously, and in small sizes (order of Kilobytes). Streaming data includes a wide variety of data such as log files generated by customers using your mobile or web applications, e-commerce purchases, in-game player activity, information from social networks, financial trading floors, or geospatial services, and telemetry from connected devices or instrumentation in data centers.

The report covers all the major trends and drivers playing a key role in the growth of the Streaming Analytics market.The Streaming Analytics market is segmented by Type, Deployment, End-user Industry, and Region.

Market Dynamics

Global Streaming Analytics is primarily driven by the increased adoption of advanced analytics tools, which helps in taking quick and better business decisions. In today’s world of increasing competition in the market, every enterprise wants a competitive edge that is provided by technological advancement, and the rising power of data coupled with the advanced tools of analytics are powering enterprises to have fruitful insights for driving the high growth of the enterprises.

The growth in the use of emerging technologies such as Big data, IoT, and AI. The rising data from various sources such as sensors, social media sites, and others need to be analyzed, so big data gives a platform for performing analytics on large data. With access to the analytics on the real-time data will give management to get real-time insights. For instance, Big data adoption in enterprises soared from 17% in 2015 to 59% in 2018, reaching a Compound Annual Growth Rate (CAGR) of 36% according to the study.

However, due to lack of awareness and Lack of Integrating Legacy Systems with Big Data Solutions are some of the factors that will be hampering the growth of Streaming Analytics in the forecast period.

Segment Analysis

By Deployment Type, the global streaming analytics market is segmented into Cloud-based, and On-premise. On-premise has the dominant position in the streaming analytics market and is expected to retain its dominance in the forecasted period due to the adaptation of the technology by the large organizations which are concerned about data security and data privacy. However, Cloud-based are also gaining the market due to the increasing demand by SME because of cost-effective and time-effective solutions. It is expected that the On-premise market will grow at a CAGR of ~XX% during the forecast period.

By End-User, the global Streaming Analytics market is segmented into Oil &Gas, Healthcare, BFSI, Telecommunication, Transportation & Logistics, Media & Entertainment, and Others. Oil & gas has a dominant position in the streaming analytics market due to the rise in the oil & gas industry rise. Being able to predict and proactively repair wells in real-time to keep them functioning is vital since revenue is lost when a well is down, especially since the average offshore rig can cost up to $500,000 per day to operate. Given the sheer volume of data and the economics of the use cases, it is no surprise oil and gas sector is an early adopter of streaming analytics technologies.

Geographical Analysis

By geography, the global Streaming Analytics market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and the Middle East and Africa (MEA).

North America holds the largest market share for streaming analytics as the leaders in innovation and developments. So, the adoption rate of new technology is also high in the region. And also, with the rise in the oil & gas industry in the region will boost the streaming analytics market for North America in the forecast period.

For instance, Anadarko fast-tracks development, implementation of real-time data analytics system to optimize the drilling process by the use of Tibco Software’s StreamBase complex event processing platform to build the data acquisition and streaming layer of their real-time data system.

Europe is after North America in terms of the market share of Streaming Analytics. However, with the rising economies and the adaptation of technologies for the sectors such as e-commerce, developing countries like India and China are expected to boost the streaming analytics market in Asia-Pacific for the forecast period. The rise in internet penetration in the region will also boost the streaming analytics market as internet penetration directly impacts the e-commerce industry.

Competitive Analysis

Key players are adopting strategies such as investing in R&D, new product launches, expansion in Technology to stand out as strong competitors in the market. Global Streaming Analytics is a competitive market with the presence of various global and regional players in the market. The major players, IBM, Oracle, Microsoft, SAP, and Software AG. Other key players in the market include SAS, Tibco, Impetus, Striim, WSO2, Informatica, SQLStream, Espertech, Inetco, and Axonize.

In May 2018, Informatica®, the enterprise cloud data management leader, today announced the general availability of the industry’s most comprehensive solution for enterprise streaming data management, enabling organizations to harness, ingest, process and act on streaming data in real-time to make timely, data-driven decisions in their operations. Also, to help organizations realize the full potential of real-time analytics, Informatica is offering free technical workshops on best practices for developing and operationalizing analytics projects.

In April 2018, The Streaming Analytics service in the IBM Cloud was an advanced analytic platform allowing user-developed applications to ingest quickly, analyze, and correlate information as it arrives from a wide variety of real-time data sources. Today, a new version of the service is generally available, providing a set of exciting new features and a new set of price plans. The new version of the service runs on a Kubernetes container-based infrastructure and provides several new functional enhancements. The new price plans give you access to this enhanced version.

 

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