Streaming Analytics Market by Component, Deployment, Application (Fraud Detection, Marketing & Sales, Risk Management, Predictive Asset Management, Network Management & Optimization, Location Intelligence, Supply Chain Management), End-use, and Geography – Global Forecast to 2026
Stream analytics can be elucidated as a potential to monitor, manage, and evaluate the statistical analytics while moving into the stream of data. The rise in technology also increased the need for an external source, while the prevailing databases are growing to integrate applications with the managed data. The major aspect that is impelling the market growth is the requirement of finding advanced solutions to make real-time decisions on business events is driving the large enterprises and SMEs to employ streaming analytics. There is a growth in the deployment of the internet of things among several verticals, which results in an increase in the demand for data streaming solutions. In addition to this, there are also few factors that are restricting the streaming analytics market growth, such as the dearth of data security and privacy. The Streaming Analytics Market is assumed to grow at the rate of 25.30% CAGR during 2020–2026.
The pharmaceutical drug delivery market has been analyzed by utilizing the optimum combination of secondary sources and in-house methodology, along with an irreplaceable blend of primary insights. The real-time assessment of the market is an integral part of our market sizing and forecasting methodology. Our industry experts and panel of primary participants have helped in compiling relevant aspects with realistic parametric estimations for a comprehensive study. The participation share of different categories of primary participants is given below:
Component Outlook in Streaming Analytics Market
- Professional Services
- Managed Services
Deployment Outlook in Streaming Analytics Market
Application Outlook in Streaming Analytics Market
- Fraud Detection
- Marketing & Sales
- Risk Management
- Predictive Asset Management
- Network Management & Optimization
- Location Intelligence
- Supply Chain Management
End-Use Outlook in Streaming Analytics Market
- IT & Telecommunication
- Media & Entertainment
Geography Outlook in Streaming Analytics Market
- North America
- Asia Pacific
- Rest of the World
In terms of components, the software segment is expected to dominate the streaming analytics market. As software enables organizations to maintain better relations with the customers in terms of identifying their preferences, knowing their experience, and retaining customers, which increases the demand for the software segment in this market.
The cloud-based deployment is expected to record the maximum share in the streaming analytics market. This maximum share is attributed to the benefits such as convenience to organizations, minimum maintenance, high operational flexibility, and low operational human resources required. Moreover, cloud-based streaming analytics offers users with low-latency of data exchangeability.
The increasing adoption of streaming analytics in supply chain management is majorly impacting the growth of the market in the application segment. This is largely because of the benefits, including enabling it to enhance its response to uncertain demands and minimize the supply chain management issues. Further, streaming analytics also offers cost-saving to the structure of supply chains.
Streaming analytics is playing a crucial role in the information and technology, and telecommunication industry. The increasing preference for customer-centered service and personalized products by information and technology and telecommunication sector is boosting the demand for this market. Furthermore, IT and telecommunication are majorly adopting streaming analytics in order to analyze the huge amount of operational data for better customer engagement.
In the streaming analytics market, North America is contributing the major share in the market growth. The significant focus by the regional organizations on customer-centered service and in increasing deployment of digital business strategies are the key factors supporting the largest market share in this region.
Globally, increasing developments in the latest technologies, which include artificial intelligence, the internet of things, and big data, are providing new possibilities for the examination of information retrieved from streaming data, driving the opportunities for the global streaming analytics market. Apart from that, the fewer returns on the investments are restricting market growth.
Some of the major vendors of the streaming analytics market are IBM, Oracle, Microsoft, SAP, Software AG, SAS Institute, TIBCO Software, Impetus, Striim, WSO2, INETCO, SQLStream, Axonize, EsperTech, Cloudera, Google, HPE, AWS, Intel, VMware, Mphasis, Altai, Adobe, Teradata, Vitria Technology, Conviva, IQLECT, and Iguazio.
Since in the present scenario, the companies have become more aware of the advantages of real-time data analytics, which is leading to increasing adoption of streaming analytics in the daily functions. Streaming analytics has been assisting in reaping greater revenues by proliferating operational efficiency and reducing avoidable losses.
- This study gives a summary of major market forces driving and hampering the market growth.
- The in-depth estimations of market trends and technical improvements are presented in the streaming analytics market.
- An overall analysis of the strategies such as product development, innovations of key vendors of the market are mentioned in the streaming analytics market report.
- A clear description of the competitive landscape and key market segmentation is given in this study.