According to the latest report by IMARC Group, titled “Streaming Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global streaming analytics market reached a value of US$ 8.79 Billion in 2021. Streaming analytics is the processing and analysis of fast-moving live data from a variety of sources. It is also known as event stream processing, which helps provide updates of events that occur as the result of an action or set of activities, such as a financial transaction or equipment failure. Streaming analytics analyzes data records, including log files generated by customers using web applications, telemetry from connected devices, information from social networks or geospatial services, and e-commerce transactions. It assists in enhancing market competency, reducing and preventing security breaches, and managing issues, stock exchange meltdowns, customer churn, and social media crises.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Streaming Analytics Market Trends:
Significant growth in the IT and telecommunications industry across the globe is creating a positive outlook for the market. Streaming analytics is widely used due to the growing need to analyze large amounts of operational data, such as customers’ location, application usage statistics, and other performance data, to improve service delivery and personalization. Additionally, the widespread adoption of streaming analytics across different industrial verticals due to rapid digitalization is acting as another growth-inducing factor. Apart from this, the integration of the internet of things (IoT), artificial intelligence (AI), and cloud computing in streaming analytics to provide faster insights and action and increase visibility and control are providing an impetus to the market growth. Moreover, the increasing demand for streaming analytics in large enterprises owing to high spending on data analytics tools and massive data generation is positively influencing the market growth. Other factors, including the widespread adoption in the retail sector, the growing prevalence of data breaches and cyber-attacks, and extensive research and development (R&D) activities, are supporting the market growth. On account of the aforementioned factors, the market value is expected to reach US$ 42.62 Billion by 2027, exhibiting a CAGR of 27.50% during 2022-2027.
- On the basis of the component, the market has been bifurcated into software and service.
- Based on the deployment type, the market has been divided into cloud-based and on-premises.
- On the basis of the organization type, the market has been classified into large, small and medium-sized enterprises.
- Based on the application, the market has been divided into fraud detection, predictive asset management, risk management, network management and optimization, sales and marketing, supply chain management, location intelligence, and others.
- On the basis of the industry vertical, the market has been classified into IT and telecom, BFSI, manufacturing, government, retail and e-commerce, media and entertainment, healthcare, energy and utilities, and others.
- On a regional basis, the market has been categorized into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and Others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia and Others) Latin America (Brazil, Mexico and Others), and Middle East and Africa.?
- The competitive landscape of the industry has also been examined, with some of the key players being Cloudera Inc., Conviva Inc., Gathr, Google LLC, International Business Machines Corporation, Microsoft Corporation, Oracle Corporation, SAP SE, SAS Institute Inc., Software AG, SQLstream (Guavus Inc.), Striim Inc. and TIBCO Software Inc.
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