Streaming Analytics Market

According to Stratistics MRC, the Global Streaming Analytics Market is accounted for $18.77 billion in 2023 and is expected to reach $88.53 billion by 2030 growing at a CAGR of 24.8% during the forecast period. Streaming analytics complements traditional analytics by providing real-time insight to the decision-making toolbox. It is also known as event stream processing, which automatically processes & analyzes large scale real-time information and in-motion data called, event streams. The streams encompass events that occur as the result of an action or set of actions, such as an equipment failure, financial transaction, or some other actions.

According to the National Retail Federation (NRF), the financial impact of organized retail crime (ORC) costs retailers USD 777,877 per USD 1 billion in sales in 2018 study



Market Dynamics:

Driver:

Strategic shift toward real-time

Using data visualization to display insights and providing real-time predictions for streaming data are both aspects of streaming analytics. It makes use of the predictive model, which is made available to clients, to enable precise real-time decision-making. This entire iterative process entails meticulous experimentation with complex data sets and tracking of Key Performance Indicators (KPIs), metrics, and other important data points pertinent to a specific department. In order to improve decision-making and achieve the ability to automate, optimize, and guide decisions in accordance with demands to meet established corporate goals, streaming analytics is used to improve business operations. Businesses who recognize the value of streaming analytics give the need to successfully engage customers and track consumer sentiment top priority.

Restraint:

Lack of integration of legacy systems

Legacy systems have valuable and important business logic that the organization can use. Organizations cannot afford to update their business logic or throw away their legacy systems because they are assets to the corporation. These priceless pieces of business logic that have been encoded are the result of many years of coding, development, real-world application, enhancement, change, and debugging. The majority of legacy systems were created without using data or process models, and now they are essential for delivering and supporting big data streaming analytics-based real-time operational information.

Opportunity:

Ongoing partnerships and product launches

In order to gain an advantage over rival vendors and broaden the range of commercial applications, the suppliers in the market for streaming analytics are attempting to provide new data integration and sophisticated event-streaming analytics capabilities. As a result, players are using a variety of tactics, such as launching new products or teaming up with tech startups to create ground-breaking solutions, which is opening up lucrative potential for the streaming analytics market. For instance, Yellowbrick Data and Striim collaborated on a data streaming solution in June 2020 to speed up the adoption of data-streaming apps in businesses and assist them in gaining quicker and more accurate insights.

Threat:

Data security concerns and stringent data security regulations

The market for streaming analytics is facing significant obstacles due to high concerns about data security and privacy. Security and privacy are now considered to be the most crucial components of a company due to the rising frequency of cyber attacks and security lapses. Since key industries like healthcare, IT, and telecom produce enormous amounts of big data, these sectors heavily rely on streaming analytics solutions to increase their business growth and productivity. Big data streaming differs from existing technologies in three ways: volume (quantity of data), velocity (speed at which data is generated and transmitted), and variety (types of organized and unstructured data).

Covid-19 Impact:

The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. A few companies have already announced possible delays in product deliveries and slumps in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting business collaborations and partnerships.

The marketing & sales segment is expected to be the largest during the forecast period

Due to the rising demand, the marketing and sales segment maintained its largest market share. This can be due to the growing use of streaming analytics to give improved customer interaction using strategies like consumer profiling, campaign management, monitoring, and demographic analysis to improve on current customer engagement policies. Companies are also more frequently utilizing streaming analytics solutions to better understand the target market, their preferences, learn about consumer behavior and additional.

The media & entertainment segment is expected to have the highest CAGR during the forecast period

The media and entertainment industry is anticipated to have the highest CAGR over the forecast period due to consumers' growing preference for using OTT applications on smartphones and tablets to access multimedia content. Companies are now able to provide viewers with high-quality material because to the expanding adoption of high-speed wireless internet around the world. Powerful streaming analytics systems are also being used by media and entertainment organizations to build improved marketing programs for consumer acquisition and retention. Additionally, by providing a personalized customer experience through omnichannel sales strategies, businesses are able to acquire a competitive advantage thanks to the real-time information gleaned from social media.

Region with largest share:

The North America region market is estimated to witness the highest share of the global Streaming Analytics market during the forecast period. Leading streaming analytics solution providers, including Microsoft Corporation, Oracle Corporation, and IBM Corporation, are all based in North America. These businesses are concentrating on the creation and commercialization of streaming analytics products for both consumer and commercial use. Other significant drivers propelling the expansion of the regional market include rising per capita income, a tech-savvy populace, and the ongoing acceptance of emerging technologies for both personal and professional purposes.

Region with highest CAGR:

The Asia Pacific region is expected to have the highest growth rate over the forecast period. The primary growth drivers for the regional market are the increasing sales of smartphones and tablets, the expanding use of consumer IoT devices, and the rising disposable incomes in countries like China, India, and Japan. Internet penetration has increased in the Asia Pacific region as a result of the ongoing development of high-speed wireless internet networks and the focus of developing economies on upgrading aging infrastructure. Because of improved internet connectivity, businesses can now deploy cutting-edge IoT sensors and devices for process monitoring and control with ease.



Key players in the market

Some of the key players in Streaming Analytics market include Apache Software Foundation, IBM Corporation, Impetus Technologies Inc., Informatica, Microsoft, Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, SQLstream, Inc., Striim, Inc. and TIBCO Software Inc.

Key Developments:

In April 2022, Microsoft's Azure Stream Analytics featured a geospatial index of reference data, providing faster processing to support a larger set of mobile assets and vehicle fleet
In December 2021, the Striim platform offers non-intrusive, real-time data collection and movement from databases, data warehouses, Salesforce, Amazon S3, log files, messaging systems, sensors, and Hadoop solutions by teaming with AWS to continuously deliver data to RedShift

In November 2021, Azure Stream Analytics operation can directly feed data into an Azure Data Explorer table using this new integration. The direct integration of Azure Data Explorer as an output for Azure Stream Analytics has increased the power of Azure-powered real-time analytics architecture

In April 2021, Oracle Stream Analytics now uses advanced correlation patterns, enrichment, and machine learning to process and analyze enormous amounts of real-time data. It provides real-time actionable business information from streaming data and automates actions to help organizations to operate smoothly

Components Covered:
• Software
• Services

Deployment Types Covered:
• On-premise
• Cloud

Organization Sizes Covered:
• Large Enterprises
• Small & Medium sized Enterprises

Applications Covered:
• Fraud Detection
• Marketing & Sales
• Risk Management
• Predictive Asset Management
• Network Management & Optimization
• Location Intelligence
• Supply Chain Management
• Other Applications

End Users Covered:
• Banking, Financial Services and Insurance (BFSI)
• IT & Telecom
• Retail
• Healthcare
• Government
• Media & Entertainment
• Education
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances