DUBLIN–(BUSINESS WIRE)–The “Streaming Analytics Market by Component, Application (Supply Chain Management, Location Intelligence, Sales & Marketing, Fraud Detection), Industry Vertical, Deployment Mode, Organization Size, and Region – Global Forecast to 2026” report has been added to ResearchAndMarkets.com’s offering.
The global streaming analytics market is projected to grow from USD 15.4 billion in 2021 to USD 50.1 billion in 2026, at a Compound Annual Growth Rate (CAGR) of 26.5% during the forecast period. The Streaming analytics industry is driven by increased digitalization and emerging technologies such as big data, IoT, and AI to drive market growth. However, the strategic shift toward accurate real-time forecasts and rising data connectivity through hybrid and multi-cloud environments further contributes to the growth of the Streaming analytics market.
Based on Component, the service segment is expected to grow at a higher CAGR during the forecast period
The service segment of the Streaming analytics market is further segmented into professional services (support and maintenance, and deployment and integration) and managed services. This section discusses each service subsegment’s market size and growth rate based on type (for selected subsegments) and region.
Based on deployment mode, cloud segment is segmented to account for a larger market size during the forecast period
Cloud computing refers to the storage, management, and processing of data via networks of remote servers, which are typically accessed via the Internet. According to Statista, cloud computing would generate more than USD 300 billion in revenue in 2020 as a component of IT services. At the same time, PwC shows the COVID-19 crisis has accelerated the cloud transition even further as per data during the first quarter of 2020, cloud spending increased by 37% to USD 29 billion. The increasing generation of data leads to various challenges for several organizations. These challenges include storage, privacy, and affordability.
Based on application, Supply Chain Management segment to grow at a higher CAGR during the forecast period
The Streaming analytics market based on application is segmented into Fraud Detection, Sales and Marketing, Predictive Asset Management, Risk Management, Network Management and Optimization, Location Intelligence, Supply Chain Management, Other Applications (product innovation and customer management). The supply chain management segment is expected to grow at a rapid pace during the forecast period. Streaming analytics can help to improve the performance of order picking and stock-taking process in warehouse management with high accuracy. It aims at improving operational efficiency and effectiveness by enabling data-driven decisions at strategic, operational, and tactical levels. It assists companies in delivering revenue growth, improving margins, managing working capital in a better way, and enhancing overall control points across the supply chain.
Based on organization size, large enterprise segment to account for a larger market size during the forecast period
The adoption of streaming analytics software and services among large enterprises is high due to the ever-increasing adoption of the cloud, and the trend is expected to continue during the forecast period. Large enterprises accumulate huge chunks of data that can be attributed to the widespread client base. In large enterprises, data plays a major role in evaluating the overall performance of organizations. Large enterprises are leveraging real-time data coming from various sources; for instance, social media feeds or sensors and cameras, each record needs to be processed in a way that preserves its relation to other data and sequence in time.
APAC is expected to grow at a higher CAGR during the forecast period
Asia Pacific (APAC) has continually presented lucrative market opportunities for Streaming analytics Software and service providers with a notable increase in Streaming analytics across its developed and emerging countries., Japan, China, and India have displayed ample growth opportunities in the Streaming analytics market. Owing to a rapidly proliferating technology-backed economical structure, APAC is expected to emerge as the fastest-growing region in Streaming analytics software and services demand during the forecast period.
The market study covers Streaming analytics across different segments. It aims at estimating the market size and the growth potential of this market across different segments, such as by Component, Application (Supply Chain Management, Sales & Marketing, and Fraud Detection), Industry Vertical, Deployment Mode, Organization Size, and Region. The regional analysis of the Streaming analytics covers North America, Europe, APAC, MEA, and Latin America.
The study also includes an in-depth competitive analysis of the key market players, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
- Increased Digitalization and Emerging Technologies Such as Big Data, IoT, and Ai to Drive the Market Growth
- Strategic Shift Toward Real-Time Accurate Forecasts
- Rising Data Connectivity Through Hybrid and Multi-Cloud Environments
- Lack of Integration of Legacy Systems with Streaming Analytics Solutions
- Real-Time Recommendations, Pattern Detection, and Anomaly Detection to Gain Traction
- Ongoing Partnerships and Product Launches Taking Place in the Market
- Handling Large-Scale Data in a Decentralized Environment
- Data Security Concerns and Stringent Data Security Regulations
- Network Slowdown Due to the COVID-19 Pandemic to Impact the Growth of the Streaming Analytics Market
- Max Uses the Cloudera Platform to Enhance the User Experience by Analyzing the Causes Behind Declined Customer Transactions in Real-Time
- Ibasis Uses Striim’s Analytics Platform to Obtain Deeper Network-related Issues
- Goya Foods Uses Tibco to Enhance Customer Experience
- ASX Uses Tibco and Prevents Customer Issues by Approximately 78%
- Greentube Uses the Cloudera Platform and Boosted Its Revenue by 2%
- Severstal Uses Cloudera CDH Data Lake to Increase Its Overall Performance by 6.5%, Which Provides More Than 100 Thousand Tons of Additional Metal Processing Per Year
- Intermountain Healthcare Uses Informatica Enterprise Data Catalog to Manage Patient Data
- Trailer Uses Software AG IoT & Analytics Solution to Obtain Insights on Real-Time Data
- An Oil & Gas Corporation Used Informatica’s Platform to Optimize It Cost and Connect with Upstream and Downstream Data in Real Time
- Bangdb (Iqlect)
- Software AG
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