Streaming Analytics Market Share, Size, Trends, Industry Analysis Report, By Component (Software, Services); By Deployment Mode (Cloud, On-premises); By Application Type; By Vertical; By Region; Segment Forecast, 2022 - 2030
- Published Date:May-2022
- Pages: 118
- Format: PDF
- Report ID: PM2416
- Base Year: 2021
- Historical Data: 2018 - 2020
Report Outlook
The global streaming analytics market was valued at USD 15.65 billion in 2021 and is expected to grow at a CAGR of 27.0% during the forecast period. Steadily increasing digitalization and implementation of emerging advanced technologies such as big data, IoT, and AI will drive the streaming analytics market. Streaming analytics consumption is expected to grow due to enhanced digitalization and rising adoption of internet of things (IoT) solutions across industries worldwide.
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Continuous advancements in emerging technologies such as artificial intelligence (AI), the Internet of Things (IoT), machine-to-machine (M2M) communication, big data, and cloud technology have opened up new avenues for investigating information derived from running data. Sensors, cameras, and other smart devices generate massive data for IoT devices. On the other hand, the data has no value unless transformed into actionable, contextual information.
Rapid advancements in the Internet of Things (IoT) wearable sensors used in consumer and industrial uses have aided in developing streaming analytics solutions with advanced processing efficiency. This is due to the ability of advanced automation sensors and devices to collect large amounts of rice process performance data. Companies' excess supply for such data to improve their judgment process, delivering services strategy, network management, and customer engagement and customer loyalty, among other things, is responsible for driving the adoption of advanced running analytical solutions over the forecast period. Streaming analytical solutions are also being used by businesses to open new business channels and improve customer experiences. As a result, running analytical is gaining traction in marketing, financial services, and operations, thus boosting the market growth.
Further, big data and visualization techniques allow users to generate deeper insights across transaction processing and an offline assessment. Real-time data analysis and decision-making are frequently performed manually, but it is preferable to do them immediately to make them scalable. Continuous data analysis necessitates the use of streaming analytical software, which executes or updates insights every few seconds or microseconds. It handles each event, message, record, payment, or log entry by business priorities.
AI and big data offer frameworks and tools for businesses to analyze real-time data and extract multiple IoT use cases. As technology advances for end-users continue, streaming analytical software has greater market demand. However, a lack of understanding of streaming analytical solutions and their benefits may have a negative impact on streaming analytics market growth. Nonetheless, with a growing proclivity for digital transformation, the consequences of the factors above are expected to decline in the coming years.
Industry Dynamics
Growth Drivers
Cloud-based product launches and adoption of advanced streaming analytical platforms by the key players to assist companies with their offerings and broaden customer bases. For instance, in March 2021, KX Insights is a cloud-based tool for the streaming analytical that multiple operating systems leverage the advantages of the cloud architecture to deliver customizable real-time data information and insight without such additional burden of infrastructure, complex and difficult upgrades, and the need to optimize for various cloud environments.
KX has approved KX Insights to run natively on all significant hyper-scale cloud providers, such as AWS, Azure, and Google Cloud. This allows organizations to quickly scale up one's real-time decision-making functionality and implement a constant actionable business analytics business model. Also, in February 2022, Striim, introduced Strim Cloud, a "software-as-a-service (SaaS) framework" for integrating and analyzing real-time data streams. Customers can convert their companies by adopting new cloud models and modernizing their application infrastructure using the company's zero-maintenance and scalable platform.
Further, in June 2021, Guavus announced the launch of Guavus 5G-IQ NWDAF in the market, an innovative 5G data transmission analytics product intended to help mobile operators address the obstacles of operating complex multi-vendor 5G technology at scale and produce extra funding for 5G services. 5G-IQ Guavus NWDAF is a 3GPP Network Data Analytics Function (NWDAF) again for 5G Core that delivers the real-time operational intellectual ability to drive provider collaboration and platform virtualization automation.
Also, in July 2021, Silverchair Analytics, the product's new streaming analytics, and data analysis solution, was launched by Silverchair. Silverchair Analytics provides real-time data recorded from publisher websites, traditional canned findings, and the potential to construct customized reports to meet specific reporting requirements. Silverchair's strategy is centered on unlocking Silverchair Platform user information, surfacing it quantitative and qualitative, and visually to publishers through the optimal solution. Thus, the platforms that assist the business in managing properly boost streaming analytics market growth during the forecast period.
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Report Segmentation
The market is primarily segmented based on component, deployment mode, application type, vertical, and region.
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By Component |
By Deployment Mode |
By Application Type |
By Vertical |
By Region |
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Insight by Deployment Mode
Based on the deployment mode segment, the cloud segment is expected to be the most significant revenue contributor. Streaming analytics solutions delivered via the Software-as-a-Service (SaaS) model enable businesses to transition to a subscription-based revenue model. Cloud analytics solutions also enable users to perform low bandwidth transformation.
Geographic Overview
In terms of geography, North America had the largest revenue share. The major market player in the region is primarily concerned with the development and commercialization of streaming advanced analytics for residential and commercial applications. Other likely to propel regional streaming analytics market growth include increasing per capita income, an innovative population, and the continued implementation of emerging technologies for individual and commercial applications.
Moreover, Asia Pacific is expected to witness a high CAGR in the global market. Rapidly increasing smartphone and tablet revenue, enhanced consumer IoT device implementation, and higher disposable incomes in economies have risen as significant factors driving the regional market's growth. Due to improved internet connectivity, companies can now create and deploy advanced IoT sensors and devices for process controls.
Competitive Insight
Major market players operating in the global market include Adobe, Altair, Apache Software Foundation, Axonize, Conviva, Crosser, EsperTech, IBM Corporation, Impetus Technologies Inc., INTECO, Materialize, Microsoft Corporation, Mphasis, Oracle Corporation, Quix, SAP SE, Software AG Inc., SQLstream, StarTree, Striim, Tibco Software Inc., and WSO2.
Streaming Analytics Market Report Scope
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Report Attributes |
Details |
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Market size value in 2021 |
USD 15.65 Billion |
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Revenue forecast in 2030 |
USD 111.11 Billion |
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CAGR |
27.0% from 2022 - 2030 |
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Base year |
2021 |
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Historical data |
2018 - 2020 |
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Forecast period |
2022 - 2030 |
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Quantitative units |
Revenue in USD billion and CAGR from 2022 to 2030 |
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Segments covered |
By Components, By Deployment Mode, By Application Type, By Vertical, By Region |
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Regional scope |
North America, Europe, Asia Pacific, Latin America; Middle East & Africa |
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Key Companies |
Adobe, Altair, Apache Software Foundation, Axonize, Conviva, Crosser, EsperTech, IBM Corporation, Impetus Technologies Inc., INTECO, Materialize, Microsoft Corporation, Mphasis, Oracle Corporation, Quix, SAP SE, Software AG Inc., SQLstream, StarTree, Striim, Tibco Software Inc., and WSO2. |
