Streaming analytics is revolutionizing various sectors, including banking, healthcare, manufacturing, and e-commerce, with broad adoption across industries due to its numerous benefits.
NEWARK, Del, Oct. 17, 2023 (GLOBE NEWSWIRE) — According to a Future Market Insights (FMI) report, the streaming analytics market size is projected to surpass US$ 15,811.3 Million in 2023 and is likely to attain a valuation of US$ 107,548.7 Million by 2033. The streaming analytics industry share is expected to rise at an astounding CAGR of 21.1% from 2023 to 2033.
The incorporation of edge computing stands out as one of the developing trends in streaming analytics. This entails processing and analyzing data closer to its source, at the network’s edge, rather than depending only on centralized cloud services. Edge analytics is gaining popularity because it allows for faster decision-making, lowers latency, and conserves bandwidth, all of which are important for applications such as IoT and real-time monitoring.
Companies are increasingly deploying streaming analytics via hybrid and multi-cloud techniques. This trend provides scalability, flexibility, and redundancy. Organizations may enhance cost-effectiveness and data management by combining on-premises, public, and private cloud resources.
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In streaming analytics, graph analytics and complex event processing (CEP) are gaining traction. These technologies enable enterprises to model complicated relationships between data points and uncover nuanced patterns in real-time. This is very useful in industries such as banking and fraud detection.
Blockchain technology is being integrated into streaming analytics tools to maintain the integrity and security of real-time data. Blockchain provides immutable data records and increases data trustworthiness, making it a compelling option for businesses with high data security needs, such as banking and healthcare.
Key Takeaways from the Streaming Analytics Market Report:
- In 2018, the global market size stood at US$ 8,226.82 Million.
- The market size expanded at a 17.65% CAGR from 2018 to 2022.
- In 2022, the global market size stood at US$ 15,811.3 Million.
- In 2023, the software segment occupied 64.3% of the streaming analytics market.
- In 2023, the platforms segment captured 23.3% of the streaming analytics industry shares.
- The streaming analytics industry in India will flourish at a 21.7% CAGR through 2033.
- The streaming analytics industry in Germany will thrive at a 14.2% CAGR through 2033.
- The streaming analytics market in China will flourish at a 14.0% CAGR through 2033.
Note from the Analysts:
“The streaming analytics industry is undergoing a transition driven by technical improvements and an increased need for real-time information. Innovation, scalability, and strategic alliances are transforming the environment and opening up new growth opportunities. As it relates to effective data processing and resource consumption, sustainability is developing as a critical concern, coinciding with a global push toward responsible data management,” opines Sudip Saha, managing director and MD at Future Market Insights (FMI) analyst.
Recent Developments Observed by FMI:
- Twitch announced the launch of their new Stream Analytics Experiment in April 2023. The page will provide broadcasters with precise information and insights into global trends to help them plan their streams more successfully.
- IBM introduced a novel software in November 2022 to assist organizations in breaking down data and analytics silos so they can make data-driven choices fast and overcome unanticipated challenges. IBM Business Analytics Enterprise is a business intelligence planning, budgeting, reporting, forecasting, and dashboarding package that gives customers a comprehensive view of data sources throughout their organization.
Key Players Operating in the Global Streaming Analytics Industry:
- Oracle Corporation
- IBM Corporation
- Microsoft Corporation
- SAS
- SAP
- Amazon Web Services
- TIBCO
- Software AG
- Cloudera
- Apache Software Foundation
- Guavas
- Adobe
- Altair
- Quix
- Striim, Inc.
- Confluent
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Streaming Analytics Market Segmentation Analysis:
By Solution:
- Platform
- Cloud-based
- On-premises
- Hybrid
- Services
- Managed Services
- Professional Services
- Consulting Services
- Integration & Implementation
- Support & Maintenance
By Application:
- Advertising & Marketing
- Financial Analytics
- Supply Chain Management
- Demographic Location Intelligence
- Fraud Intelligence
- Customer Experience Monitoring
- Others
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry:
- IT & Telecom
- Media and Entertainment
- Retail & E-commerce
- Manufacturing
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Government
- Education
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa (MEA)
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About the Technology Division at Future Market Insights:
The technology team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with the objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Author:
Sudip Saha is the managing director and co-founder at Future Market Insights, an award-winning market research and consulting firm. Sudip is committed to shaping the market research industry with credible solutions and constantly makes a buzz in the media with his thought leadership. His vast experience in market research and project management across verticals in APAC, EMEA, and the Americas reflects his growth-oriented approach to clients.
He is a strong believer and proponent of innovation-based solutions, emphasizing customized solutions to meet one client’s requirements at a time. His foresightedness and visionary approach recently got him recognized as the ‘Global Icon in Business Consulting’ at the ET Inspiring Leaders Awards 2022.
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