Streaming Analytics Market is Booming Due to Rising Demand for Real-Time Data Analytics

Streaming Analytics Market is Booming Due to Rising Demand for Real-Time Data Analytics

“Streaming Analytics Market”
Streaming Analytics Market, By Component (Software, Service), By Service (Professional Service, Managed Service), By Application (Predictive Asset Maintenance, Fraud Detection), By Deployment (Cloud, On-Premise) – Forecast 2023

Market Highlights

As per the report by Market Research Future (MRFR), the global streaming analytics market is slated to register a market valuation of USD 16 billion by 2023, at a substantial CAGR of 33% over the review period (2017-2023).

Drivers and Restraints

The significant growth of the global streaming analytics market is primarily driven by the increasing demand for real-time data analytics and improved consumer engagement, which is consequently encouraging the higher demand for data analytics solutions. The extensive applications of streaming analytics various industry verticals for algorithmic trading, intelligence and surveillance, real-time patient monitoring systems, supply chain optimization, among others, is also expected to fuel market growth.

On the other hand, the growing concerns associated with data security and privacy, along with the low returns on investments are the hindering factors of the market over the forecast period.

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Segmentation:

The global streaming analytics market is segmented based on the components, deployment, application, organization size, and vertical.

Based on the component, the market has been bifurcated into software and service. The service segment comprises of managed service and professional service. The service segment is expected to acquire a relatively more significant market share over the forecast period, owing to the growth of the managed services segment. This growth is attributed to the increase in digital information and rising data security needs, coupled with the growing trend of ‘bring your own devices’ (BYOD). Moreover, the increasing dependency on heterogeneous networks and continually growing complexity of technological solutions is also predicted to drive the growth of this segment.

Streaming analytics solutions are deployed on-cloud and on-premise. Cloud-based solutions are expected to record comparatively more significant growth, owing to its ability to provide data security, efficient storage management, data integrity and also minimizes costs related to IT infrastructure in enterprises and enabling them to focus on core business proficiencies.

The applications of streaming analytics are fraud detection, location intelligence, network management and optimization, operations management, predictive asset maintenance, risk management, sales and marketing management, and others.

Based on organization size, the market has been bifurcated into small and medium organizations (SMEs) and large organizations.

The industry verticals operative in the global streaming analytics market are banking, financial services and insurance (BFSI), education, energy and utilities, government and defense, healthcare, IT and telecommunications, and others.

Regional Analysis

On the basis of region, the streaming analytics market has been segmented into North America, the Asia Pacific, Europe, and the rest of the world.

The North American market for streaming analytics is assessed to register the leading market share over the review period, owing to the growing adoption of cloud-based solutions and the rising demand for enhancing information governance in numerous companies.

The Asia Pacific streaming analytics market is poised to witness relatively higher growth over the forecast period. This is accredited to the growing investments towards research and development for upgradation of the streaming analytics technology, along with its increasing adoption in several industrial verticals in the region.

Competitive Landscape

The major market players identified by MRFR in the streaming analytics market include Apache Software Foundation (U.S.), Datatorrent (U.S.), Impetus Technologies (U.S.), Informatica Corporation (U.S.), Microsoft Corporation (U.S.), Oracle Corporation (U.S.), SAP SE (Germany), Software Ag (Germany), SQLstream (U.S.), Tibco Software (U.S.), among others.

Industry News

Aug 2019: PSSC Labs, a California-based company that offers supercomputing solutions, launched the high-performance CyberRax Data Flow Pipeline, their new platform for streaming analytics on edge. This solution was designed in collaboration with Cloudera, a tech-giant that delivers enterprise data cloud solutions, to offer an on-premise for all consumer data streaming requirements.

Aug 2019: SignalFx, a leading market player for real-time data cloud monitoring, and ALTERSIS, the most significant IT Performance organization in EMEA region, announced their strategic business partnership to expand SignalFx’s solutions in the EMEA region, especially in Europe and areas North Africa.

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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 7NORTH AMERICA STREAMING ANALYTICS MARKET, BY COMPONENT (%)

FIGURE 8 NORTH AMERICA STREAMING ANALYTICS MARKET, BY APPLICATION (%)

FIGURE 9NORTH AMERICA STREAMING ANALYTICS MARKET, BY DEPLOYMENT (%)

FIGURE 10 NORTH AMERICA STREAMING ANALYTICS MARKET, BY ORGANIZATION SIZE (%)

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