Streaming Analytics Market – Overview:
Streaming analytics is a technology that enables an organization to set up real-time analytics for computation purposes. The streaming analytics technology has a major advantage of its scalability, easy handling of high throughput. The data is streamed through applications such as social media, different types of sensors, and other open source data platforms. The streaming analytics is considered reliable as it helps in reducing the loss of data, with its in-built capabilities of recovery. Streaming analytics can also be deployed on the cloud, due to its pricing. The pricing on the cloud is based on per usage, and thereby proves to be a feasible solution for many of the enterprises.
One of the major factor driving the market growth is the rising adoption of advanced analytics tools by small and medium enterprises. Additionally, the Asia Pacific region is expected to show an increased growth rate due to heavy investments to improve efficiency and productivity, and adoption of BI analytics and in different industrial verticals.
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Major Key Players
Apache Software Foundation (U.S.), Microsoft Corporation (U.S.), Datatorrent (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), Informatica Corporation (U.S.), Software Ag (Germany), Tibco Software (U.S.), Impetus Technologies (U.S.), SQLstream (U.S.) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Streaming Analytics Market.
According to MRFR, The streaming analytics market is expected to grow at approximately USD 16 Billion by 2023, at 33% of CAGR between 2017 and 2023.
March, 2018 – Data Artisans, U.S. based start-up founded by creators of Apache Flink, launched real time stream processing platform, for data applications. The platform helps in enabling enterprises to get insights from data in milliseconds. The new release will boost stream processing and helps in enabling companies to provide live data applications as a centralized enterprise service.
April, 2018 – Lightbox, a New Zealand subscription video on demand (SVOD) service offering a selection of television shows over a range of devices is using Qrious analytics expertise to compete with global giants. The analytics helps in gaining expertise on customer needs, and how to improve or engage and retain those same viewers.
The streaming analytics market appears to be highly competitive. To maintain their market position and to drive the market growth, various dynamic and diversified international organizations, domestic organizations and as well as new entrants form a competitive landscape. Market leaders are innovating continuously and increasingly seeking market expansion through various strategic mergers and acquisitions, innovation, increasing investments in research and development and cost-effective product portfolio. Major players are investing on internal R&D and, most of all, in acquiring other firms. Prominent vendors of streaming analytics market are targeting to invest more in technology and research and development activities to innovate their already existing technology.
The global streaming analytics market is studied for North America, Europe, Asia Pacific and Rest of the world. North America holds major market share for global streaming analytics market through the forecast period. The presence of key players in the region, development of latest technologies and their adoption in developed countries like U.S. and Canada are primarily driving the market growth. Europe holds second place in global streaming analytics market. However, Asia pacific is anticipated to show significant growth rate during the forecast period. The growing awareness of streaming analytics among SME and need for data analytics solutions are driving the demand in this region.
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