Streaming Analytics Market to Witness Higher Traction on Account of Increasing Adoption of IoT and Rising Industry-Specific Applications

Market Scope & Overview:

The Streaming Analytics Market had a valuation of USD 20.94 billion in 2022 and is projected to reach USD 122.49 billion by 2030, with a compound annual growth rate (CAGR) of 24.7% during the forecast period from 2023 to 2030, as reported by SNS Insider.

Streaming analytics, also known as real-time analytics or event stream processing, is a technology that enables organizations to analyze and gain insights from streaming data in real-time. It involves capturing, processing, and analyzing data as it is generated or received, allowing organizations to make informed and timely decisions based on up-to-the-minute information.

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Major Key Players Included are:

• Amazon Web Services
• International Business Machines Corporation
• Impetus Technologies
• Microsoft Corporation
• Oracle Corporation
• SAP SE
• SAS Institute Inc
• Software AG
• SQLstream, Inc
• TIBCO Software Inc
• Others

Market Analysis:

The streaming analytics market has a promising future with significant growth prospects. Streaming analytics refers to the real-time processing and analysis of streaming data from various sources such as sensors, social media feeds, clickstreams, and more. This technology enables organizations to derive actionable insights and make data-driven decisions in real time. The Internet of Things (IoT) has witnessed exponential growth in recent years, resulting in a massive influx of data from connected devices.

Impact of Recession:

Recessions can pose challenges to the streaming analytics market, impacting investment, market dynamics, and customer priorities. However, by adapting their strategies and focusing on cost efficiency, ROI, and operational efficiency, streaming analytics vendors can navigate through the recessionary period and emerge stronger. Furthermore, identifying resilient industry verticals and tailoring solutions to meet their specific needs can help sustain growth and mitigate the effects of the economic downturn. Ultimately, while recessions may temporarily slow down the pace of growth in the market, the long-term prospects for the industry remain promising as organizations recognize the value of real-time data analytics in driving business success.

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Segmentation Analysis:

The on-premise and IT & Telecom segments are poised to dominate the streaming analytics market due to their unique requirements and industry-specific needs. While on-premise solutions offer data privacy, low-latency processing, and seamless integration, the IT and Telecom sector benefits from real-time insights for network optimization, customer experience enhancement, and security threat detection. As the demand for real-time data analysis continues to surge across industries, these segments will play a pivotal role in shaping the future of streaming analytics, driving innovation, and empowering organizations to leverage the power of data in motion.

Market Segmentation and Sub-Segmentation included are:

On The Basis of Component:
• Software
• Service

On The Basis of Deployment Model:
• On-premise
• Cloud

On The Basis of Organization Size:
• Large Enterprises
• Small & Medium-sized Enterprises

On The Basis of Application:
• Fraud Detection
• Predictive Asset Management
• Risk Management
• Network Management and Optimization
• Sales and Marketing
• Supply Chain Management
• Location Intelligence
• Others

On The Basis of Industry Vertical:
• BFSI
• IT and Telecom
• Manufacturing
• Government
• Retail and E-Commerce
• Media and Entertainment
• Healthcare
• Energy and Utilities
• Others

Regional Status & Analysis:

As the streaming analytics market continues to gain traction globally, North America's dominance is set to strengthen further. The region's technological advancements, robust data ecosystems, thriving digital economy, collaborative environment, and talented workforce position it as a leader in harnessing the power of real-time streaming data. By embracing emerging technologies and capitalizing on new opportunities, North America is poised to shape the future of streaming analytics, revolutionizing industries and driving innovation across sectors.

Conclusion:

The market holds significant potential for future growth. With the increasing adoption of IoT, the need for real-time decision making, the focus on enhancing customer experiences, advancements in technologies like AI and ML, industry-specific applications, and the rise of cloud and edge computing, the demand for streaming analytics solutions is set to soar.

Frequently Asked Questions:

Q1) What is the projected outlook for streaming analytics market growth?
Ans: The market is projected to reach a value of USD 122.49 billion by the year 2030.

Q2) What are the major factors influencing the streaming analytics market?
Ans: Organizations that harness the power of streaming analytics can gain valuable insights, improve operational efficiency, and stay ahead in the data-driven era.

Q3) Who are the leading players in the streaming analytics market?
Ans: Amazon Web Services, Inc., Microsoft Corporation, Oracle Corporation, International Business Machines Corporation, Impetus Technologies, Inc., SAP SE, SAS Institute Inc., TIBCO Software Inc.

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Table of Contents - Major Key Points:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Streaming Analytics Market Segmentation, by Component
9. Streaming Analytics Market Segmentation, by Deployment Model
10. Streaming Analytics Market Segmentation, by Organization Size
11. Streaming Analytics Market Segmentation, by Application
12. Streaming Analytics Market Segmentation, by Industry Vertical
13. Regional Analysis
14. Company Profiles
15. Competitive Landscape
16. Conclusion

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This release was published on openPR.