Workday IBM, Microsoft, Oracle, Google, and AWS are the top 5 providers of streaming analytics solutions, accounting for around 65% market share.
NEWARK, DE / ACCESSWIRE / August 17, 2022 / Global streaming analytics is expected to reach US$ 86.5 Bn in 2032, with sales growing at an astounding CAGR of 20.8% over the forecast period of 2022 to 2032. The streaming analytics market will reach an estimated value of US$ 13.1 Bn by the end of 2022. The rapid adoption of digitalization along with heightened usage of the Internet of Things is likely to fuel market growth for streaming analytics over the forecast period.
In order to increase functionality and optimize the overall efficiency of an organization, many businesses are integrating advancing technology to their everyday operations. This advanced technology, like artificial intelligence and the Internet of Things, big data, cloud technology and edge computing, are opening up new routes for investigating the information acquired from streaming data. This data is then transformed into actionable and contextual information.
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Big data and data visualisation approaches enable users to obtain new insights with the help of batch processing and offline analysis. Real-time data analysis and decision-making are frequently done manually, although automation is preferable to make them scalable.
Thus, continuous data analysis necessitates the use of streaming analytics platform. These platforms execute or update findings every few seconds or milliseconds. It handles each message, event, record, transaction, or log entry in conformity with business objectives. The growing adoption of these streaming analytics platform is expected to drive the market growth over the forecast period.
Moreover, since businesses are expanding their operations via partnerships and collaborations, they are worried about losing sensitive data or having problems keeping track of the decentralised environment during the structural changes within the businesses in the partnership.
Consequently, there is a growing demand for a unified platform that can deliver the complete spectrum of contextual information by enabling a highly flexible architecture that can interface with streaming data sources and output channels. Moreover, a visual interface is important to organizations as it aids in speeding up growth and operating in a relevant and precise manner. This promotes the adoption of streaming analytics solutions and services.
"Integration of various advanced tech tools like Internet of Things and cloud technology into the daily operations of businesses is also promoting the adoption of streaming analytics over the forecast period," says an FMI analyst.
Increasing digitization of various industry verticals is expected to drive the market demand over the forecast period.
France is predicted to account for about 15.6% of the Europe streaming analytics market share by 2032
Streaming analytics sales in India is expected to grow by 13.5X through 2032.
Adoption of IoT will propel market growth in GCC countries.
Cloud-based streaming analytics platform will dominate the market, with a CAGR of over 28.5%.
By services, managed services segment is expected grow at 11.3% CAGR.
By application, demand in fraud intelligence segment is expected to rise at 24.3%.
On the basis of industry, sales in the IT & telecom segment are forecast to increase at a 25.8% CAGR
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IBM Corporation, Oracle Corporation, Google, Microsoft Corporation, SAS, SAP, Amazon Web Services, TIBCO, Software AG, Cloudera, Apache Software Foundation, Guavus, Adobe, Altair, Quix, Striim, Inc., and Confluen among others are some of the manufacturers of streaming analytics profiled in the full version of the report.
Key players in the global streaming analytics market are focusing on research and development activities to meet their market needs. These businesses are offering novel services to establish their own distinctive feature-loaded solutions to effectively cater to the consumers. Market players are also formingmergers and alliances with their peers.
More Insights into the Streaming Analytics Market Report
In its latest report, FMI offers an unbiased analysis of the global streaming analytics market, providing historical data from 2017 to 2021 and forecast statistics for the period 2022 to 2032. To understand the global market potential, growth, and scope, the market is segmented based on solution (streaming analytics platform (cloud-based, on-premises), hybrid, services (managed services, professional services), consulting services, integration & implementation, support & maintenance), application (advertising & marketing, financial analytics, supply chain management, demographic location intelligence, fraud intelligence, customer experience monitoring, others), enterprise size (large enterprises, small & medium enterprises (SME)), industry (IT & telecom, media & entertainment, retail & e-commerce, manufacturing, banking, financial services, and insurance (BFSI), healthcare, government, education, others) and region.
According to the latest report by FMI, based on region, France is expected to lead the streaming analytics market over the assessment period. Demand for streaming analytics solutions in France is expected to account for around 15.6% of the Europe streaming analytics market share by 2032. Industry 4.0 technology is aiding France to strengthen its position in the global market for data management and industrial control systems. This is promoting market growth in France, with the solutions dominating segments like advertising & marketing, and demographic location intelligence in the region.
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South Asia and Pacific is likely to be one of the most lucrative markets over the forecast period. Based on the research, sales in India will grow by 13.5X through 2032. Indian digital economy and enterprises are being transformed by data streaming. Moreover, recent start-up culture promotes the usage of data management science in multiple industries, from BFSI to healthcare. These factors will boost market sales in India throughout the forecast period.
Sales of streaming analytics solutions across GCC countries (United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain) are expected to grow at a CAGR of 14.0% from 2022 to 2032. Organizations in GCC countries like the UAE recognize that real-time data's full potential will enable them to pioneer engaging digital offerings for the sensitive modern customer. Consequently, the adoption of streaming analytics is on the rise in this region.
As per FMI's latest report, based on segmentation, by solution, the cloud-based streaming analytics platform will have dominated the market, with a CAGR of over 28.5% during the assessment period. Incorporation of cloud-based streaming analytics platforms will enable users to respond intelligently without human involvement by automating answers, and recognize meaningful patterns of circumstances, such as a shift in pressure or temperature, which might suggest a future meltdown of equipment.
Based on services, the managed services segment will grow at a stellar CAGR of 11.3% from 2022 to 2032. Furthermore, the managed services segment is anticipated to offer an absolute market revenue opportunity of US$ 3,079.7 Mn between 2022 & 2032.
Other segments presumed to witness notable growth are the fraud intelligence segment on the basis of application and the IT & Telecom sector based on industry.
Streaming Analytics Market Outlook by Category
Streaming Analytics Platform
Integration & Implementation
Support & Maintenance
Advertising & Marketing
Supply Chain Management
Demographic Location Intelligence
Customer Experience Monitoring
By Enterprise Size:
Small & Medium Enterprises (SMEs)
IT & Telecom
Media and Entertainment
Retail & E-commerce
Banking, Financial Services, and Insurance (BFSI)
South Asia & Pacific
Middle East & Africa
Table of Content
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Solution Innovation / Development Trends
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