Streaming Analytics Market to increase by USD 23.6 billion between 2022 to 2027, Increasing adoption of IoT-based devices boosts the market - Technavio

NEW YORK, Jan. 5, 2024 /PRNewswire/ -- The streaming analytics market by deployment (cloud and on premise), type (software and services), and geography (North America, APAC, Europe, Middle East and Africa, and South America) - Forecast and Analysis 2023-2027 report has been added to technavio offering. With ISO 9001:2015 certification, Technavio has proudly partnered with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the streaming analytics market between 2023 and 2027 is USD 23.6  billion. The increasing adoption of IoT-based devices drives the market growth. There is a growing use of connected devices across the globe.  As a result, this makes the task of managing, monitoring, and maintaining the data in an organization more difficult. Hence, IoT devices make managing, monitoring, and maintaining easier which drives the market growth.

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Market Challenge

• Data privacy and security concerns is a major challenge hindering the market growth. As digitalization spreads across all industries, privacy and security issues are becoming more difficult. In addition, concerns regarding data privacy and security will increase as traditional models are replaced by digital ones which negatively impacts the market.

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The streaming analytics market has been segmented by deployment (cloud and on premise), type (software and services), and geography (North America, APAC, Europe, Middle East and Africa, and South America). 

• The market growth by the cloud segment is significant during the forecast period. The users of the cloud segment deployment benefit from the streamlining of business intelligence procedures. In addition, to make decision-making more effective, it facilitates gathering, integrating, analyzing, and presenting derived insights in real-time. 
• North America accounts for 33% of the market growth during the forecast period. The region is a key market for streaming analytics as it is an early adopter of sophisticated technology and a global leader in the intensive production and consumption of data. In addition, the market for advanced analytics is fuelled by the enormous volumes of data produced in this region, which are analyzed to find insightful relationships and insights. Furthermore, the  region is also technologically advanced, and its industrial sector is fully developed, which makes it simple to adopt cutting-edge software solutions to boost productivity and efficiency Hence, such factors are driving the market growth in North America.

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Key Companies in the Streaming Analytics Market:

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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ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by Deployment

Market Segmentation by Type

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

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