The streaming analytics market size is projected to surpass USD 15,811.3 million in 2023 and is likely to attain a valuation of USD 107,548.7 million by 2033. The streaming analytics market share is expected to rise at an astounding CAGR of 21.1% from 2023 to 2033.
The incorporation of edge computing stands out as one of the developing trends in streaming analytics. This entails processing and analyzing data closer to its source, at the network’s edge, rather than depending only on centralized cloud services. Edge analytics is gaining popularity because it allows for faster decision-making, lowers latency, and conserves bandwidth, all of which are important for applications such as IoT and real-time monitoring.
Companies are increasingly deploying streaming analytics via hybrid and multi-cloud techniques. This trend provides scalability, flexibility, and redundancy. Organizations may enhance cost-effectiveness and data management by combining on-premises, public cloud, and private cloud resources.
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In streaming analytics, graph analytics and complex event processing (CEP) are gaining traction. These technologies enable enterprises to model complicated relationships between data points and uncover nuanced patterns in real-time. This is very useful in industries such as banking and fraud detection.
Blockchain technology is being integrated into streaming analytics tools to maintain the integrity and security of real-time data. Blockchain provides immutable data records and increases data trustworthiness, making it a compelling option for businesses with high data security needs, such as banking and healthcare.
Key Takeaways from the Streaming Analytics Market Report:
- In 2018, the global market size stood at USD 8,226.82 million.
- The market size expanded at a 17.65% CAGR from 2018 to 2022.
- In 2022, the global market size stood at USD 15,811.3 million.
- In 2023, the software segment occupied 64.3% of the streaming analytics market.
- In 2023, the platforms segment captured 23.3% of the streaming analytics market shares.
- The streaming analytics market in India will flourish at a 21.7% CAGR through 2033.
- The streaming analytics market in Germany will thrive at a 14.2% CAGR through 2033.
- The streaming analytics market in China will flourish at a 14.0% CAGR through 2033.
The streaming analytics industry is undergoing a transition driven by technical improvements and an increased need for real-time information. Innovation, scalability, and strategic alliances are transforming the environment and opening up new growth opportunities. As it relates to effective data processing and resource consumption, sustainability is developing as a critical concern, coinciding with a global push toward responsible data management,’ says an FMI analyst.
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Competitive Landscape
A diverse set of organizations characterize the competitive landscape of the streaming analytics market. They serve a diverse range of industries by leveraging their global reach and extensive resources. Vendors routinely form partnerships and alliances to broaden their market reach and offer complementary services.
Continuous innovation and the increasing importance of real-time insights drive competitiveness in the streaming analytics business, resulting in ongoing technological and product development.
Key Players in the Global Streaming Analytics Market
- Oracle Corporation
- IBM Corporation
- Microsoft Corporation
- SAS
- SAP
- Amazon Web Services
- TIBCO
- Software AG
- Cloudera
- Apache Software Foundation
- Guavas
- Adobe
Recent Developments Observed by FMI:
- Twitch announced the launch of their new Stream Analytics Experiment in April 2023. The page will provide broadcasters with precise information and insights into global trends to help them plan their streams more successfully.
- IBM introduced a novel software in November 2022 to assist organizations in breaking down data and analytics silos so they can make data-driven choices fast and overcome unanticipated challenges. IBM Business Analytics Enterprise is a business intelligence planning, budgeting, reporting, forecasting, and dashboarding package that gives customers a comprehensive view of data sources throughout their organization.
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Streaming Analytics Market Segmentation
By Solution:
- Platform
- Cloud-based
- On-premises
- Hybrid
- Services
- Managed Services
- Professional Services
- Consulting Services
- Integration & Implementation
- Support & Maintenance
By Application:
- Advertising & Marketing
- Financial Analytics
- Supply Chain Management
- Demographic Location Intelligence
- Fraud Intelligence
- Customer Experience Monitoring
- Others
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry:
- IT & Telecom
- Media and Entertainment
- Retail & E-commerce
- Manufacturing
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Government
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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