According to Future Market Insights (FMI) streaming analytics industry report, the market for streaming analytics is anticipated to grow with a CAGR of 20.8% during the forecast period (2022 to 2032). The report states that the market is expected to reach a valuation of US$ 13.1 Bn by the end of 2022.
The adoption of industrial 4.0 techniques across industries is responsible for the generation of vast volumes of data and is predicted to increase the potential for real-time analytics acceptance throughout the projection period.
Businesses are using streaming analytics technologies to create new business channels and improve consumer engagement. As a result, streams analytics are becoming more popular in industries like advertising & marketing, BFSI, and supply chain operations. This in turn, is likely to boost the streaming analytics market.
Companies are starting to look more closely at acquiring data regarding streaming events. Being able to respond quickly to events promotes operational responsiveness and organizational performance. The use of streaming analytics software by businesses provides for the application of significant context to events as they occur.
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Streaming analytics are implemented to increase operational efficiencies, save infrastructure costs, and deliver faster insights and actions. Data streaming from apps, social media, sensors, devices, websites, and other sources is available to organizations of all sizes. Rather than storing and evaluating data later, real-time analysis can deliver crucial, actionable insights in a variety of operational and functional domains.
“Increasing preference for service automation across industries such as healthcare and BFSI, along with increasing adoption of cloud-based streaming analytics will augment the growth in the market over the forecast period,” says an FMI analyst.
Key Takeaways
· By solution, the streaming analytics platform has a leading share in the global demand for the streaming analytics market during the forecast period. In addition, this segment will register at a CAGR of 22.5% through the forecast period.
· Cloud-based streaming analytics platform will hold the largest market share of 53.4% in 2022 followed by hybrid streaming analytics platform.
· Among the services, managed service is estimated to grow by 2.9X during the forecast period. In addition to this, this segment will hold the largest market share by 2032.
· By application, the advertising & marketing segment will hold the highest market share in 2022, but supply chain management is estimated to grow at the highest CAGR from 2022 to 2032.
· By industry, the IT & telecom industry segment is expected to grow at the highest CAGR of 25.8% from 2022 to 2032, followed by the retail & e-commerce industry.
· North America is anticipated to lead the streaming analytics market followed by Europe in 2022. Whereas South Asia & Pacific is estimated to be the fastest-growing region during the forecast period.
· Streaming analytics market in East Asia is estimated to witness an absolute $ opportunity of US $ 12,612.7 Mn in the forecast period.
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Streaming Analytics Market Outlook by Category
By Solution:
- Streaming Analytics Platform
- Cloud-based
- On-Premises
- Hybrid
- Services
- Managed Services
- Professional Services
- Consulting Services
- Integration & Implementation
- Support & Maintenance
By Application:
- Advertising & Marketing
- Financial Analytics
- Supply Chain Management
- Demographic Location Intelligence
- Fraud Intelligence
- Customer Experience Monitoring
- Others
By Enterprise Size:
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry:
- IT & Telecom
- Media and Entertainment
- Retail & E-commerce
- Manufacturing
- Banking, Financial Services, and Insurance (BFSI)
- Healthcare
- Government
- Education
- Other
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