The global Streaming Analytics Market size is expected to reach USD 35,986.4 million by 2025, registering a CAGR of 28.9% from 2019 to 2025, according to a new study conducted by Grand View Research, Inc. There has been a growing demand for streaming analytics solutions from large as well as small and medium-sized enterprises worldwide. The demand is driven due to the ability of these solutions to provide users with deeper insights into customer buying behavior through data visualization and active monitoring of key performance indicators in real-time. In addition, these solutions offer an analysis of the existing business operations and also help companies identify new business opportunities and revenue streams.
In
comparison to traditional reactive analytics tools that focus on batch
processing using stored data, streaming analytics enables users to proactively
respond to changing conditions for improving operations and customer
interactions using real-time insights. Due to the growing penetration of
high-speed internet and the exponentially rising user base of smartphones
globally, there has been a tremendous increase in consumer-generated data.
Streaming analytics solutions enable companies to extract business value from
data in motion and obtain real-time analytics and insights on data streaming
from multiple sources such as social media, sensors, smart devices, and
websites.
The
rapidly growing adoption of Internet of Thing (IoT) sensors and devices across
multiple industry verticals such as healthcare, media & entertainment, and
government is anticipated to drive the market over the forecast period.
Furthermore, the large amount of transactional data generated by digital
banking systems such as internet and mobile banking is driving the deployment
of streaming analytic solution across banks and financial institutions.
Apart
from conventional business verticals, streaming analytics solution providers
are also focusing on collaborating with state governments and municipal bodies
on smart city initiatives in areas such as smart traffic management using
real-time data streaming. However, the lack of awareness regarding the
operational and strategic advantages of these solutions could challenge market
growth over the forecast period. Concerns pertaining to data privacy and
security could also negatively impact streaming analytics market growth over
the forecast period.
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Streaming Analytics Market Report Highlights
- In terms of
component, the software segment dominated the market in 2018 and is also
anticipated to emerge as the fastest-growing segment over the next six
years. This can be attributed to the increasing adoption of streaming
analytics software across media & entertainment and BFSI organizations
to improve customer engagement and service delivery
- The cloud
deployment segment is anticipated to gain traction over the forecast
period owing to the growing preference for cloud-based solutions due to
reduced investments in physical infrastructure
- Use of
streaming analytics solutions in risk management application is expected
to witness the fastest growth over the forecast period due to the
increasing demand for improved risk intelligence capabilities among
organizations to effectively tackle risk exposures
- The media
& entertainment end use segment is anticipated to emerge as the
fastest-growing segment over the next six years owing to the rapidly
increasing penetration of smartphone-based digital payment solutions and
over-the-top (OTT) applications for media content delivery
- The Asia
Pacific regional market is expected to register the highest CAGR from 2019
to 2025 owing to the rapidly increasing data generated by a growing number
of smartphones and IoT-based consumer devices such as wearable sensors in
the region
- Key players
operating in the market include Informatica, IBM, Microsoft, Oracle, SAP
SE, SAS Institute Inc.; Software AG, SQLstream, Inc., Striim, Inc., and
TIBCO Software Inc.
About Us:
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
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Grand View Research, Inc
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Email: sales@grandviewresearch.com
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