Redding, California, May 15, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, ‘Streaming Analytics Market by Offering (Platforms, Services), Deployment (Cloud, On-premise), Application (Fraud Detection, Customer Analytics, Others), Organization Size, End-use Industry (IT & Telecom, Retail, Others) & Geography – Global Forecasts to 2030,’ the streaming analytics market is projected to reach $73.27 billion by 2030, at a CAGR of 19.7% from 2023 to 2030.
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Streaming analytics is the continuous processing and analysis of fast-moving live data from a variety of sources, including Internet of Things (IoT) devices, to trigger alerts and automate actions. Streaming analytics reduces the need for long-term data storage as the data is analysed in real-time. It is essential for enterprises that want to extract immediate insights from fast and ever-growing volumes of data.
Some of the factors driving the growth of this market are the growing adoption of streaming analytics platforms to provide faster insights and actions, advanced technologies such as big data, IoT, and AI, and rising industrial automation. However, the lack of integration with legacy systems restrains the growth of this market.
The streaming analytics market is segmented by streaming analytics market by offering (platforms, services (professional services, managed services)), deployment mode (on-premise deployment, cloud-based deployment), application (fraud detection, customer analytics, sales & marketing, predictive asset management, risk management, network management & optimization, location intelligence, supply chain management, other applications), organization size (large enterprises, small & medium-sized enterprises (SMEs)), end-use industry (media & entertainment, BFSI, IT & telecom, retail, healthcare & life sciences, government, manufacturing, transportation & logistics, energy & utilities, other end-use industries). The study also evaluates industry competitors and analyses the market at the regional and country levels.
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. This segment is also projected to record the highest CAGR during the forecast period. The capability of streaming analytics platforms to analyze real-time data and monitor the Key Performance Indicators (KPIs) of a business is expected to drive the growth of this segment.
Based on deployment mode, the global streaming analytics market is segmented into on-premise deployment and cloud-based deployment. In 2023, the on-premise deployment segment is expected to account for the larger share of the global streaming analytics market. However, the cloud-based deployment segment is projected to record the highest CAGR during the forecast period. The growth of this segment is driven by the rapid evolution of new avenues for cloud-based deployments, the superior flexibility offered by this deployment mode, the incorporation of cloud-based solutions by small & medium-scale enterprises, and affordability.
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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. However, the fraud detection segment is projected to record the highest CAGR during the forecast period. Industries such as retail, BFSI, and healthcare, have adopted IoT-connected technologies prone to cyber-attacks and frauds. Therefore, the need for fraud detection & prevention solutions to provide the necessary security layer and protection is expected to support segment growth.
Based on organization size, the global streaming analytics market is segmented into large enterprises and small & medium-sized enterprises (SMEs). In 2023, the large enterprises segment is expected to account for the larger share of the global streaming analytics market. The large market share of this segment is attributed to the strong IT infrastructure of large enterprises, the growing adoption of advanced technologies such as AI and blockchain, and the development of strategic IT initiatives. This segment is also projected to register the higher CAGR during the forecast period.
Based on end-use industry, the global streaming analytics market is segmented into media & entertainment, BFSI, IT & telecom, retail, healthcare & life sciences, government, manufacturing, transportation & logistics, and energy & utilities. In 2023, the IT & telecom segment is expected to account for the largest share of the global streaming analytics market.
However, the retail segment is projected to record the highest CAGR during the forecast period. Companies in the retail sector have multiple data streams like inventory reorder times, shortage predictions, shipment fulfillments, tracking customer activity and business trends for personalized offerings/discounts for customers, and geo-targeted mobile marketing. Therefore, the growing adoption of streaming analytics by retailers for supply chain visibility, maintaining customer loyalty through personalized campaigns and location-based microservices and fraud detection and prevention is expected to support the growth of this segment.
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 are the key growth drivers for the regional market. Furthermore, the continuous rollout of high-speed wireless internet networks and the focus of developing economies on improving legacy infrastructure have improved internet penetration in Asia-Pacific. The enhanced internet connectivity has enabled companies to easily deploy advanced IoT sensors and devices for process monitoring and control, which is expected to provide opportunities for the growth of the streaming analytics market.
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.).
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Scope of the report:
Streaming Analytics Market, by Offering
- Platforms
- Services
- Professional Services
- Managed Services
Streaming Analytics Market, by Deployment Mode
- On-premise Deployment
- Cloud-based Deployment
Streaming Analytics Market, by Application
- Fraud Detection
- Customer Analytics
- Sales & Marketing
- Predictive Asset Management
- Risk Management
- Network Management & Optimization
- Location Intelligence
- Supply Chain Management
- Other Applications
Streaming Analytics Market, by Organization Size
- Large Enterprises
- Small & Medium-sized Enterprises (SMEs)
Streaming Analytics Market, by End-use Industry
- Media & Entertainment
- BFSI
- IT & Telecom
- Retail
- Healthcare & Life Sciences
- Government
- Manufacturing
- Transportation & Logistics
- Energy & Utilities
- Other End-use Industries
Streaming Analytics Market, by Geography
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- France
- Italy
- Spain
- Switzerland
- Netherlands
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Singapore
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Israel
- Rest of Middle East & Africa
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