The global streaming analytics market is witnessing a continual surge in revenues. Cloud-based platform for streaming analytics, leveraging full benefits of cloud architecture to deliver natively fast, scalable real-time data insights is a major driving force. Over recent years, streaming analytics is garnering huge market prominence, helping organizations to improve their business growth.
Besides, the recent shift to cloud-based data storage and the accelerating demand for live, on-demand, and personalized applications drive the streaming analytics market. Data streaming is the latest trend in data architecture, and advances in automatic streaming and seamless integration foster the streaming analytics market shares. Augmenting demand for live and on-demand video content boosts the market size.
Moreover, increasing numbers of new market entrants and streaming analytics providers influence the market growth. Technological advances facilitating e-learning, streaming, and more throughout the day bolster the streaming analytics market shares. Additionally, the proliferation of smartphones and other connected devices and high-speed internet connectivity escalate market growth.
Rising awareness for streaming analytics benefits fosters the growth of the market. With the increasing numbers of mobile applications and the proliferation of professional digital learning, the market is anticipated to experience significant traction in the years to come. According to Market Research Future (MRFR), the global streaming analytics market is expected to grow at an impressive CAGR during the forecast period (2020–2027).
Streaming Analytics Market - Segmentation
The streaming analytics market forecast is segmented into components, applications, deployment, organization size, and regions. The component segment is sub-segmented into software and service. The service segment is further bifurcated into managed and professional service.
The application segment is sub-segmented into predictive asset maintenance, fraud detection, and others. The deployment segment is sub-segmented into cloud and on-premise. Of these, the cloud segment accounts for the highest market share due to its capabilities to minimize the IT infrastructure enabling enterprises to focus on core business competencies.
Cloud-based streaming analytics help enterprises minimize the overall operational cost, providing data protection and security. The organization size segment is sub-segmented into SMEs and large enterprises. By regions, the market is bifurcated into Asia Pacific, Americas, Europe, and rest-of-the-world.
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Streaming Analytics Market - Regional Analysis
North America dominates the global streaming analytics market due to the growing adoption of advanced analytics tools by small and big enterprises. Besides, the presence of key market players and the strong adoption of streaming analytics over recent years drive the market's growth.
Moreover, increasing collaborations between government, network companies, and institutional partners boost the market growth in the region. With their well-established technology development centers, the US and Canada contribute a large amount of revenue to the North American streaming analytics market.
Europe stands second in terms of global streaming analytics market value. Growing numbers of OTT platforms and huge investment by market players increase streaming analytics adoption. Additionally, large investments in streaming analytical tools to improve business efficiency and productivity and adoption of business intelligence technologies boost the market size.
The Asia Pacific streaming analytics market is witnessing significant growth. Rising advanced technology development, rapid urbanization, and growing educational sectors in China and India are major streaming analytics market trends. Furthermore, the rising disposable income allowing penetration of connectivity and connected devices propels the growth of the streaming analytics market.
Streaming Analytics Market - Competitive Analysis
Well-established, the streaming analytics market appears fragmented due to the presence of several key players. Matured players incorporate strategies, such as mergers & acquisitions, collaborations, product launches, and expansion to gain a competitive advantage in this market.
Major Players:
Players leading the streaming analytics market include Microsoft Corporation (US), Apache Software Foundation (US), Datatorrent (US), Oracle Corporation (US), SAP SE (Germany), Informatica Corporation (US), Tibco Software (US), Software AG (Germany), Impetus Technologies (US), and SQLstream (US), among others.
Industry/ Innovation/ Related News
May 12, 2021 --- KX, a leading global real-time streaming analytics provider, announced its partnership with Databricks, the data and AI Company, to drive business value by unifying all data, analytics, and artificial intelligence (AI). The partnership is also to accelerate the growth of ultra-real-time analytics in new market sectors, combining the power of Databricks' Lakehouse Platform with KX's low latency streaming analytics, time-series, and edge compute capabilities.
On May 05, 2021, KX announced its partnership with Microsoft to build a long-term technical and go-to-market roadmap that can enable companies to rapidly scale up their real-time analytics and decision-making capabilities, focusing on the financial services and Industrial IoT sectors.
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