The global streaming analytics market is expected to reach USD 111.11 billion by 2030, according to a new study by Polaris Market Research. The report “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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
Increased adoption of advanced technologies, continuing industrial automation, and increased demand for cloud-based streaming services. Organizations have started to look critically at collecting information about running events. Acting as soon as events occur enhances operational responsiveness and organizational effectiveness. Integration of companies with streaming analytical software allows for rich context to events as they happen. Streaming analytical could be used to boost operational efficiencies, lower infrastructure costs, as well as provide faster additional insight and decisions.
Based on the application, the sales and marketing segment accounted for the leading share in the industry. This can be driven by the growing use of running analytics to provide superior customer interaction through strategies such as customer profiling, marketing services, monitoring, and statistical information to improve existing customer engagement initiatives. Companies are also progressively using running analytics solutions to identify their target audience and preferences and learn about customer behavior and other factors.
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Market players such Adobe, Altair, Axonize, Apache Software Foundation, Conviva, Crosser, EsperTech, Tibco Software Inc., Impetus Technologies Inc., IBM Corporation, INTECO, Materialize, Microsoft Corporation, Oracle Corporation, Mphasis, Quix, Software AG Inc., SAP SE, SQLstream, StarTree, Striim, and WSO2 are key players operating in the global industry.
In May 2021, Google, the leading technology giant, announced Vertex AI, a controlled ML platform for developing end-to-end machine learning processes. This innovative Google Cloud platform focuses on helping MLOPs engineers quickly build, implement, and scale ML models. At its opening ceremony Cloud Summit, Google Cloud introduced three new products: “Dataplex, Datastream, and Analytics Hub.” Google has announced integrating databases and AI in the open cloud, allowing enterprises to make predictions and make informed decisions in real-time scenarios.
Polaris market research has segmented the streaming analytics market report based on component, deployment mode, application type, vertical, and region:
Streaming Analytics, Component Outlook (Revenue - USD Billion, 2018 - 2030)
Streaming Analytics, Deployment Mode Outlook (Revenue - USD Billion, 2018 - 2030)
Streaming Analytics, Application Type Outlook (Revenue - USD Billion, 2018 - 2030)
Streaming Analytics, Vertical Outlook (Revenue - USD Billion, 2018 - 2030)
Streaming Analytics, Regional Outlook (Revenue - USD Billion, 2018 - 2030)