NEW YORK, July 23, 2024 /PRNewswire/ -- The
global streaming analytics market size is estimated to
grow by USD 39.7 billion from
2024-2028, according to Technavio. The market is estimated to grow
at a CAGR of almost 34.63% during the forecast period. Need to
improve business efficiency is driving market growth, with a trend
towards integration with ai and ml technologies.
However, difficulty in integration of legacy systems with
streaming analytics solutions poses a challenge. Key market
players include Adobe Inc., Alphabet Inc., Altair Engineering Inc.,
Amazon.com Inc., Cloudera Inc., Conviva Inc., Coralogix Ltd.,
Hewlett Packard Enterprise Co., Impetus Technologies Inc.,
Informatica Inc., Intel Corp., International Business Machines
Corp., Microsoft Corp., Mphasis Ltd., Oracle Corp., SAP SE, SAS
Institute Inc., Software AG, Striim International Inc., Teradata
Corp., and TIBCO Software Inc..
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
Deployment (Cloud and
On premises), Type (Software and Services), and Geography (North
America, APAC, Europe, Middle East and Africa, and South
America)
|
Region
Covered
|
North America, APAC,
Europe, Middle East and Africa, and South America
|
Key companies
profiled
|
Adobe Inc., Alphabet
Inc., Altair Engineering Inc., Amazon.com Inc., Cloudera Inc.,
Conviva Inc., Coralogix Ltd., Hewlett Packard Enterprise Co.,
Impetus Technologies Inc., Informatica Inc., Intel Corp.,
International Business Machines Corp., Microsoft Corp., Mphasis
Ltd., Oracle Corp., SAP SE, SAS Institute Inc., Software AG, Striim
International Inc., Teradata Corp., and TIBCO Software
Inc.
|
Key Market Trends Fueling Growth
The streaming analytics market is witnessing notable growth due
to the integration of Artificial Intelligence (AI) and Machine
Learning (ML) technologies. This trend is enhancing the
capabilities of streaming analytics solutions, enabling businesses
to gain more accurate and predictive insights from their data. AI
and ML technologies help identify patterns in real-time data and
predict future trends, allowing businesses to take proactive
measures. Additionally, they automate certain processes, reducing
manual intervention and enabling faster, informed decision-making.
For instance, Adobe's experience platform AI Assistant uses a
conversational interface to answer technical questions and automate
tasks. This integration is expected to fuel market growth as
businesses aim to gain a competitive edge.
Streaming analytics is a modern trend in data processing,
allowing organizations to analyze real-time data from various
sources. Location intelligence is a key feature, enabling
businesses to gain insights from geographic data. Metrics and
modifications are crucial for optimizing production and demand in
sectors like retail and telecom. On-premises and cloud solutions
offer scalability and security, addressing technical drawbacks and
compliance regulations. SMEs and startups benefit from advanced,
AI-driven solutions for predictive modeling and automating business
processes. Real-life experiences show that streaming analytics can
improve operational efficiency, enhance customer experiences, and
provide valuable data for strategic shifts in business logic. API
integrations ensure seamless process models, while predictive
models help organizations respond to real-time events and
production demands. Security remains a priority, with solutions
addressing potential breaches. Overall, streaming analytics is a
game-changer for businesses looking to stay competitive in today's
market.
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Market Challenges
- The generation and consumption of data are experiencing
exponential growth worldwide, putting pressure on businesses to
handle large volumes and varieties efficiently. While many
companies have adopted big data and analytics, challenges persist
in extracting and analyzing relevant data in real-time. To address
this, organizations with mainframe and traditional systems are
integrating these with streaming analytics platforms for real-time
insights. However, integration poses challenges, particularly in
ensuring information synchronization and maintaining the proper
functioning of ingestion, stream processing, and delivery
components. These challenges may hinder the growth of the global
streaming analytics market.
- Streaming Analytics is a rapidly growing market, enabling
businesses to process and analyze real-time data from continuous
data streams. Advanced solutions now include AI and machine
learning capabilities to automate decision-making processes, making
it easier for departments to respond to customers' needs and market
trends. Cloud adoption is driving the market, offering scalable,
cost-effective, and secure solutions. However, challenges persist,
such as data accessibility, connectivity, and integration with
legacy systems and APIs. Compliance regulations, cyber-attacks, and
data privacy concerns add complexity. Businesses seek cloud
solutions that provide ease of use, enhancements, and
event-streaming analytics capabilities for commercial applications.
Emerging technologies like IoT, digitalization, and digitization
further expand the market's potential, but require custom
development and debugging. Financial impact is significant, with
applications in fraud detection, healthcare, and
financial services. Overall, streaming analytics offers significant
benefits, but requires careful planning and implementation to
maximize its value.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This streaming analytics market report extensively covers market
segmentation by
- Deployment
- 1.1 Cloud
- 1.2 On premises
- Type
- 2.1 Software
- 2.2 Services
- Geography
- 3.1 North America
- 3.2 APAC
- 3.3 Europe
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Cloud- The Streaming Analytics market is
growing rapidly as businesses seek real-time insights from their
data. This technology enables organizations to process and analyze
data in motion, improving operational efficiency and enhancing
decision-making capabilities. Companies across industries,
including finance, retail, and healthcare, are adopting streaming
analytics to gain a competitive edge. By analyzing data in
real-time, businesses can identify trends, detect anomalies, and
respond quickly to changing market conditions. Streaming analytics
solutions provide valuable insights, enabling businesses to make
informed decisions and improve overall performance.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
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Research Analysis
The Streaming Analytics market is experiencing significant
growth due to the increasing need for real-time data processing and
analysis in various industries. APIs enable seamless data
connectivity between systems, making it easier for businesses to
incorporate streaming analytics into their operations. Both large
enterprises and small & medium enterprises are embracing cloud
solutions for cost-effective and scalable streaming analytics.
Digitalization and emerging technologies like IoT, AI, and big data
are driving the strategic shift towards real-time analytics. Legacy
systems are being replaced with modern streaming analytics
solutions to improve production and demand forecasting, resulting
in a financial impact. Retail sector is a major adopter of
streaming analytics to prevent fraud cases and enhance
customer experience. The market is expected to continue growing as
more industries recognize the benefits of real-time data processing
and analysis.
Market Research Overview
The Streaming Analytics market is experiencing significant
growth as businesses seek advanced solutions to process and analyze
continuous data streams in real-time. AI and machine learning
technologies are driving innovation, enabling automated
decision-making processes and compliance with regulatory
requirements. Cloud adoption is a major trend, with Cloud solutions
offering ease of use, scalability, and cost savings. API
integration and data connectivity are crucial for data
accessibility and integration, while data privacy and security are
top concerns. Emerging technologies like IoT, Location
Intelligence, and predictive models are transforming industries
such as healthcare, retail, and telecom. SMEs and startups are also
adopting streaming analytics for commercial applications,
optimizing business processes, and gaining valuable insights from
real-time data. However, technical challenges such as legacy
infrastructure and cyber-attacks remain, requiring ongoing
enhancements and modifications. The strategic shift towards
digitization and modernization is driving the market forward, with
real-life experiences demonstrating the financial impact of
streamlined decision-making processes and improved operational
efficiency.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- Deployment
-
- Type
-
- Geography
-
- North America
- APAC
- Europe
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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