Streaming Analytics Market Size, Share & Global market Forecast
Streaming Analytics Market
Streaming Analytics Market is projected to expand at a CAGR of 24% over the forecast period and anticipated to reach USD 40 Billion by 2026.
The factors driving the growth of Streaming Analytics Market includes increasing demand for accurate real time forecast, growing use of modern technologies such as Artificial Intelligence, Big Data and IoT and Governments collaboration with major companies to improve the public and hybrid cloud markets. The increasing number of fraudulent activities are augmenting the Streaming Analytics Market size, the registered number of cyber-crimes has crossed 50,000 for the first time since, 2020. As per PwC’s Global Economic Crime and Fraud Survey 2022, almost 70% of organizations experienced frauds through an external attack or illegal cooperation between external and internal sources in the organization. In addition, the growing use of Streaming Analytics in end-use industries such as IT, Retail, Banking, financial Services and insurance (BFSI) and manufacturing, are propelling the Streaming Analytics Market share.
However, the growth of Streaming Analytics Market is hindered due to insufficient knowledge about streaming analytics and increasing data & privacy concerns around the world.
The prominent players operating in the market are Software AG, Informatic Corporation, SAP SE, Microsoft Corporation, IBM Corporation, Oracle Corporation, Tibco Software Inc., SAS Institute Inc., Sqlstream Incorporated and Impetus Technologies among others.
Components: Segment Analysis
According to the Streaming Analytics Market Trends, the software segment is expected to emerge as the fastest-growing segment during the forecast period due to increasing demand for Streaming Analytics Software by the Multinational Companies to scrutinize unstructured video, audio and IoT sensor data. Moreover, its ability to monitor the monitor the Key Performance Indicators, rising usage of cloud-based streaming analytics primarily by startups and growing demand for customized solutions, are some of the factors augmenting the growth of Streaming Analytics Market.
Deployment: Segment Analysis
Based on deployment, the cloud segment is predicted to grow at the highest rate during the forecast period because it offers low latency for data transformation, enhanced operational flexibility and low maintenance cost.
Regional: Segment Analysis
Based on region, The North American region dominated the market in 2018 due to the presence of major streaming analytics solution providers such as Microsoft Corporation and IBM Corporation. The increasing disposable incomes, growing adoption of advanced technologies and growing emphasis on commercializing the deployment of streaming analytics solutions, are some of the factors accelerating the market growth in the region.
Market Segmentation
By Component
· Software
· Services
By Deployment
· On-Cloud
· On-Premises
By Application
· Fraud Detection
· Sales and Marketing
· Risk Management
· Location Intelligence
· Supply Chain Management
· Others
By Verticals
· Government and Defense
· BFSI
· IT and Telecommunication
· Retail
· Manufacturing
· Transportation and Logistics
· Others
By Region
· Asia Pacific
o China
o Japan
o India
o Rest of APAC
· North America
o United States of America
o Canada
· Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
· RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
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