With rapid industrialization and increasing volume of organizational data, the adoption of streaming analytics has increased. Market Research Future (MRFR) has recently published a report stating that the global streaming analytics market is marked to expand at a remarkable CAGR of 33% during the forecast period of 2017-2023 and reach the valuation of USD 16 Bn by the end of 2023.
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.)
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.
Market Drivers and Restraints:
Rising demand for real-time data analytics and enhanced customer engagement is inducing high demand for data analytics solution, resulting in the significant expansion of the global streaming analytics market. The widespread application of streaming analytics in algorithmic trading, supply chain optimization, intelligence and surveillance, real-time patient monitoring system and others are aiding the growth of the global streaming analytics market. However, concerns regarding data security and privacy and low return on investment are some of the factors that are restraining the growth of the global streaming analytics market during the forecast period.
The streaming analytics market is segmented on the basis of components, application, deployment, organization size and vertical. The component segment includes software and service. The service segment includes managed service and professional service. Managed Services can be defined as proactive management of an information technology asset or object, by a third party typically known as a MSP, on behalf of the end-user. The operative distinction that sets apart a managed service program is the proactive delivery of their service, as compared to reactive IT services, which have been around for decades. The key drivers contributing to the growth of the managed services are rise in digital information, the need to secure it, increasing trend of bring your own devices, flexibility to match custom requirements, continuous upsurge in dependency over heterogeneous networks, and persistent rise in the complexity of technological solutions.
The segmentation on the basis of deployment includes cloud and on-premise. Cloud solution accounts for highest market share as it helps enterprises by minimizing cost associated with the IT infrastructure. Cloud solution enables enterprise to focus on core business competencies. It provides enterprises with data protection and security, efficiently manage storage and privacy issues, offers data integrity and provides information related to managing and coordinating business activities and helps in increasing the overall business productivity.
The regional analysis of streaming analytics market is being studied for regions such as Asia Pacific, Americas, Europe and Rest of the World. North America region accounts for highest market share in streaming analytics market owing to presence of major players in the region and adoption of advanced analytics tools by small and big enterprises is propelling the market in the region. Countries such as US and Canada contributes large amount of revenue in the streaming analytics market in the region. Asia‐Pacific region is expected to be growing at the highest CAGR. Enterprises in the region are investing huge in streaming analytical tools to improve business efficiency and productivity, adoption of BI analytics and numerous opportunities in varied industrial vertical is boosting the market in the region.
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- Investors and consultants
- System Integrators
- Government Organizations
- Research/Consultancy firms
- Technology solution providers
- IT Solution Providers
LIST OF TABLES
TABLE 1 STREAMING ANALYTICS MARKET, BY COMPONENT
TABLE 2 STREAMING ANALYTICS MARKET, BY APPLICATION
TABLE 3 STREAMING ANALYTICS MARKET, BY DEPLOYMENT
TABLE 4 STREAMING ANALYTICS MARKET, BY ORAGANIZATION SIZE
TABLE 5 STREAMING ANALYTICS MARKET, BY VERTICAL
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 STREAMING ANALYTICS MARKET: BY COMPONENT (%)
FIGURE 3 STREAMING ANALYTICS MARKET: BY APPLICATION (%)
FIGURE 4 STREAMING ANALYTICS MARKET: BY DEPLOYMENT (%)
FIGURE 5 STREAMING ANALYTICS MARKET: BY ORGANIZATION SIZE (%)
FIGURE 6 STREAMING ANALYTICS MARKET: BY VERTICAL (%)
FIGURE 7 NORTH AMERICA STREAMING ANALYTICS MARKET, BY COMPONENT (%)
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