Streaming Analytics Market is Projected to Reach USD 52,190.0 Million by 2027 at CAGR 26.8% | Valuates Reports

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BANGALORE, India, May 10, 2021 /PRNewswire/ -- The Streaming Analytics Market is segmented by Component (Software and Services), Deployment Model (On-premise and Cloud), By Organization Size (Large Enterprises and Small & Medium sized Enterprises), Application (Fraud Detection, Predictive Asset Management, Risk Management, Network Management and Optimization, Sales and Marketing, Supply Chain Management, Location Intelligence, and Others ), Industry Vertical (BFSI, IT & Telecom, Manufacturing, Government, Retail and E-commerce, Media & Entertainment, Healthcare, Energy & Utilities, and Others). The report covers global opportunity analysis and industry forecasts from 2021 to 2026. It is published on Valuates Reports in the Online Video Category.

The global streaming analytics market was valued at USD 7,740.0 Million in 2019 and is projected to reach USD 52,190.0 Million by 2027, growing at a CAGR of 26.8% from 2020 to 2027.

Streaming analytics, in essence, is more about extracting realtime business value from data in motion in the same way that conventional analytics methods do with data at rest.

Major factors driving the growth of streaming analytics market are:

• Growing adoption of streaming analytics for real-time forecast and preventative maintenance, retail, smart transportation, smart energy, industrial automation, and healthcare.
• Rise in adoption of advanced technologies such as big data, IoT, AI, ongoing Industrial Automation, and increase in demand of cloud-based streaming analytics software.
• Emergence of cloud based streaming analytics as a cost efficient option for SMEs.

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TRENDS INFLUENCING THE GROWTH OF STREAMING ANALYTICS MARKET SIZE

Rapid advancements in the Internet of Things (IoT) sensors are expected to drive the streaming analytics market size. Rapid developments in the Internet of Things (IoT) sensors and devices used in industrial and consumer applications. Several manufacturers, throughout their manufacturing line and supply chain, embedded intelligent sensors in products. A manufacturer can spot problems and fix them before a product leaves the production line by analyzing the streaming data from these sensors in real-time. This increases production and operational productivity while also saving money.

Because of its ability to process real-time streaming data, streaming analytics has been replacing traditional analytics methodologies across a variety of applications in recent years. Moreover, companies are increasingly investing in streaming analytics tools to enhance their business efficiency and operations by gaining a better understanding of challenges and opportunities from the analysis of data in motion. Thus the increasing investment from the various sectors is expected to drive the growth of the streaming analytics market size. 

Streaming analytics tools are being used by businesses to develop new business channels and improve customer interactions. As a result, fields like marketing, finance, and operations are becoming more interested in streaming analytics. This, in turn, is expected to further fuel the streaming analytics market size. 

Ongoing partnership & product launches taking place in the streaming analytics market are expected to further propel the streaming analytics market size. To gain a competitive edge over other players and expand the reach of commercial applications, streaming analytics vendors are focusing on creating new data integration and high event-streaming analytics capabilities. As a result, these companies are pursuing a variety of tactics, such as launching new products or collaborating with technology start-ups to create creative technologies, which is fueling the growth of the streaming analytics industry.

Cloud-based streaming analytics solutions are expected to provide lucrative growth opportunities for the players in the streaming analytics market. Software-as-a-Service (SaaS) streaming analytics solutions offer businesses the option of switching to a subscription-based service model. Low-latency data transformation is also a feature of cloud-based streaming analytics solutions. 

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STREAMING ANALYTICS MARKET SHARE ANALYSIS

Based on organization size, the large enterprise segment dominated the streaming analytics market in 2019, owing to high spending on data analytics tools as well as massive data generation by these organizations.

The IT and Telecom industry vertical dominated the streaming analytics market share in 2019, and this trend is expected to continue during the forecast period. The growing need to analyze large quantities of operational data such as application usage statistics, customers' location, and other performance data to enhance service delivery and personalization has propelled this sector's market share.

Based on region, North America dominated the global streaming analytics market share in 2019 and is expected to continue to do so during the forecast period. The involvement of many leading streaming analytics software vendors such as Oracle Corporation, Microsoft Corporation, IBM Corporation, and others contribute to the region's supremacy. These companies are focusing their efforts on the creation and commercialization of streaming analytics tools for industrial and consumer use.

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COVID-19 IMPACT ON STREAMING ANALYTICS MARKET

Post COVID-19 emergence, the media & entertainment industry is expected to witness the highest growth rate owing to sudden extensive growth in OTT applications on smartphones.

STREAMING ANALYTICS MARKET SEGMENTS

By Component

• Software
• Services

By Organization Size

• Large Enterprises
• Small & Medium sized Enterprises

By Deployment Mode

• On-premise
• Cloud

By Application

• Fraud Detection
• Predictive Asset Management
• Risk Management
• Network Management and Optimization
• Sales and Marketing
• Supply Chain Management
• Location Intelligence
• Others

By Industry Vertical

• BFSI
• IT and Telecom
• Manufacturing
• Government
• Retail and E-Commerce
• Media and Entertainment
• Healthcare
• Energy and Utilities
• Others

By Region

• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• France
• Rest of Europe
• Asia-Pacific
• China
• India
• Japan
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

Key Market Players

• IBM Corporation
• Oracle Corporation
• Microsoft Corporation
• SAP SE
• Software AG
• SAS Institute Inc.
• TIBCO Software Inc.
• Amazon Web Services
• SQLstream, Inc.
• Impetus Technologies, Inc.

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SIMILAR REPORTS

-  Cloud Streaming Analytics Market is segmented by Type Software, Services, by Application Sales Terminal and Market Analysis, Analysis of User Experience, Analysis of Internet of Things, Credit Fraud Detection and by various regions.

-  Big data and business analytics market was valued at USD 193.14 Billion in 2019, and is projected to reach USD 420.98 Billion by 2027, growing at a CAGR of 10.9% from 2020 to 2027. Surge in adoption of big data analytics software by various organizations to deliver enhanced & faster decision-making and to provide competitive advantage by analyzing and acting upon information in a timely manner significantly contributes toward the growth of the global big data and business analytics market.

-  The global video analytics market was valued at USD 4,102.0 Million in 2019 and is projected to reach USD 21,778.0 Million by 2027, registering a CAGR of 22.7% from 2020 to 2027. With disrupting effects of coronavirus in 2020 on various sectors, many video analytics vendors are adopting various business and marketing strategies, including innovating their product portfolio and trying to come up with more advanced & suitable solutions as per client needs. For instance, in August 2020, AllGoVision launched AllSafe Video Analytics, aimed to enhance the safety of people in office buildings, public areas, industries, and other public & private facilities amid the COVID-19 pandemic. Moreover, in July 2020, one of the leading players in the video analytics market, Cisco Meraki announced acquisition of Modcam to expand its capabilities in the video analytics field.

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-  The global identity analytics market was valued at USD 512 Million in 2017, and is projected to reach USD 3,619.8 Million by 2025, growing at a CAGR of 27.8% from 2018 to 2025. Rise in adoption by enterprises to improve their identity and access management systems, the need to ensure adaptive access certification by the enterprises, and increase in awareness about regulation and compliance management are some of the factors that drive the growth of the global identity analytics market.

-  The global predictive analytics market was valued at USD 7.32 Billion in 2019, and is projected to reach USD 35.45 Billion by 2027, growing at a CAGR of 21.9% from 2020 to 2027. Increase in the adoption of predictive modeling tools, surge in investments for Big Data supporting initiatives by governments, and rise in adoption of Big Data technologies are some of the major factors that are driving the global predictive analytics market growth.

-  The global Risk Analytics market is projected to reach USD 36670 Million by 2026, from USD 20230 Million in 2019, at a CAGR of 8.4% during the forecast period 2021-2026. The market in North America is expected to hold the largest market share, whereas the APAC region is projected to provide significant opportunities in this market and is expected to grow at the highest CAGR during the forecast period.

-  The global sports analytics market was valued at USD 425.76 Million in 2018, and is projected to reach USD 6,376.45 Million by 2026, growing at a CAGR of 40.40% from 2019 to 2026. Increase in the amount of on-field data and surge in the monitoring and tracking of data of players are the major factors that drive the growth of the market.

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