PUBLISHER: Meticulous Research | PRODUCT CODE: 1292892
PUBLISHER: Meticulous Research | PRODUCT CODE: 1292892
The research report titled 'Streaming Analytics Market by Offering (Platforms, Services), Deployment (Cloud, On-premise), Application (Fraud Detection, Customer Analytics, Others), Organization Size, Sector (IT & Telecom, Retail, BFSI, Others) & Geography-Forecasts to 2030'', provides in-depth analysis of streaming analytics market across five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts till 2030.
The global streaming analytics market is projected to reach $73.27 billion by 2030, at a CAGR of 19.7% during the forecast period 2023-2030. The growth of the streaming analytics market is driven by the growing adoption of streaming analytics platforms for faster insights and actions and the growth in industrial automation. However, streaming analytics solutions' lack of integration with legacy systems restrains the growth of this market.
The development of new data integration and high event stream analytics capabilities is expected to generate growth opportunities for the players operating in this market. However, factors such as data security & privacy issues and the infrastructure requirements and complex architectures of streaming analytics solutions are major challenges for market growth. Additionally, the growing adoption of cloud-based streaming analytics platforms is a prominent trend in the streaming analytics market.
Based on offering, the global streaming analytics market is segmented into platforms and services. In 2023, the platforms segment is expected to account for the larger share of the global streaming analytics market. The segment's large share is attributed to the rising adoption of streaming analytics platforms for processing and analyzing fast-moving live data and enterprises' growing need to reduce infrastructure costs, enable faster insights and actions, and improve operational efficiencies. Moreover, the platforms segment is also projected to record the higher CAGR during the forecast period.
Based on deployment mode, the global streaming analytics market is segmented into on-premise deployments and cloud-based deployments. In 2023, the on-premise deployments segment is expected to account for the larger share of the global streaming analytics market. The segment's large share is attributed to the higher preference for on-premise deployments among large enterprises due to the availability of trained IT professionals & infrastructure and security issues associated with cloud-based deployments. However, the cloud-based deployments segment is projected to record the higher CAGR of 20.9% during the forecast period.
Based on application, the global streaming analytics market is segmented into fraud detection, customer analytics, sales & marketing, predictive asset management, risk management, network management & optimization, location intelligence, supply chain management, and other applications. In 2023, the customer analytics segment is expected to account for the largest share of the global streaming analytics market. The segment's large market share is attributed to organizations' rising need to retain customers through improved customer satisfaction, gain a competitive advantage in the market, boost customer loyalty, improve brand reputation, and accelerate overall business growth. However, the fraud detection segment is projected to record the highest CAGR during the forecast period.
Based on organization size, the global streaming analytics market is segmented into large enterprises and small & medium-sized enterprises. In 2023, the large enterprises segment is expected to account for the larger share of the global streaming analytics market. The segment's large share is attributed to large enterprises' strong IT infrastructure and availability of skilled IT personnel to manage streaming analytics platforms. Furthermore, large enterprises have a stable financial backup and hence, can easily procure customized streaming analytics solutions. Moreover, the large enterprises segment is also projected to record the higher CAGR during the forecast period.
Based on sector, the global streaming analytics market is segmented into media & entertainment, BFSI, IT & Telecom, retail, healthcare & life sciences, government, manufacturing, transportation & logistics, energy & utilities and other sectors. In 2023, the IT & Telecom segment is expected to account for the largest share of the global streaming analytics market. The segment's large market share is attributed to the rising adoption of streaming analytics solutions among IT & telecom companies to analyze large amounts of operational data and better serve customers. These solutions allow IT & telecom companies to analyze information, such as customer location, application usage statistics, and other performance data, to improve service delivery and personalization. However, the retail segment is projected to record the highest CAGR during the forecast period.
Based on geography, the streaming analytics market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global streaming analytics market. Increasing digitization, rising sales of smartphones and tablets, growing adoption of consumer IoT devices, and increasing disposable incomes in economies such as China, India, and Japan have emerged as the key growth drivers for the regional market. The demand for streaming analytics in APAC is expected to continue growing as organizations recognize the need to harness real-time insights from streaming data to drive business growth, enhance customer experiences, optimize operations, and stay competitive in the digital age.
Some of the key players operating in the streaming analytics market are IBM Corporation (U.S.), Informatica Inc. (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), Striim, Inc. (U.S.), Oracle Corporation (U.S.), SAS Institute Inc. (U.S.), SQLstream (U.S.) a subsidiary of Thales Group (France), Software AG (Germany), TIBCO Software Inc. (U.S.), Cloudera, Inc. (U.S.), Teradata Corporation (U.S.), Amazon Web Services, Inc. (U.S.), Impetus Technologies, Inc. (U.S.), and Hewlett Packard Enterprise Company (U.S.).
Streaming Analytics Market, by Offering
Streaming Analytics Market, by Deployment Mode
Streaming Analytics Market, by Application
Streaming Analytics Market, by Organization Size
Streaming Analytics Market, by Sector
Streaming Analytics Market, by Geography