Streaming Analytics Global Market Report 2024

Streaming analytics involves the continuous processing and analysis of data records, as opposed to traditional batch processing. This approach enables the establishment of real-time analytics computations on streaming data and facilitates language integration for swift and pertinent time-sensitive processing.

The primary components of streaming analytics comprise software and services. Streaming analytics services are integral for the analysis of data streams, allowing developers to integrate streaming data with historical data to extract valuable business insights. Deployment modes for streaming analytics encompass both on-premise and cloud solutions, catering to the needs of both large enterprises and small to medium-sized enterprises. Various industry verticals, including BFSI, IT and telecom, manufacturing, government, retail and e-commerce, media and entertainment, healthcare, energy and utilities, and others, make use of streaming analytics for diverse applications.

The streaming analytics market research report Is one of a series of new reports that provides streaming analytics market statistics, including streaming analytics industry global market size, regional shares, competitors with a streaming analytics market share, detailed streaming analytics market segments, market trends and opportunities, and any further data you may need to thrive in the streaming analytics industry. This streaming analytics market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The streaming analytics market size has grown exponentially in recent years. It will grow from $21.82 billion in 2023 to $28.19 billion in 2024 at a compound annual growth rate (CAGR) of 29.2%. The historical period's growth can be attributed to factors such as real-time data processing, a surge in data volumes, the need for actionable insights, the proliferation of IoT devices, and the increased adoption of advanced analytics.

The streaming analytics market size is expected to see exponential growth in the next few years. It will grow to $83.21 billion in 2028 at a compound annual growth rate (CAGR) of 31.1%. The anticipated growth in the forecast period can be attributed to the integration of edge computing, the incorporation of AI and machine learning into streaming analytics, the emergence of cloud-native streaming platforms, the expansion of 5G networks, and increased concerns and solutions for cybersecurity. Key trends expected in the forecast period encompass the adoption of event-driven architecture, the integration of streaming analytics with business intelligence, the utilization of multi-cloud deployment models, a heightened focus on anomaly detection, and the application of streaming analytics for customer experience optimization.

The anticipated surge in the utilization of cloud technology is poised to drive the expansion of the streaming analytics market. Cloud technology, also known as cloud computing, is a means of providing computing services over the internet, enabling users to access storage, files, software, and servers via internet-connected devices. Its contribution to the streaming analytics market lies in furnishing a scalable and efficient infrastructure for the real-time processing and analysis of large volumes of data. Notably, Eurostat data from December 2021 reveals a 7% increase, reaching 72%, in the adoption of cloud technology by large organizations compared to 2020. Additionally, medium-sized businesses are expected to embrace cloud computing at a rate of 53% in 2021, up from 46% in the preceding year. The growing prevalence of cloud technology, exemplified by organizations spending over $12 million annually in 37% of cases and over $1.2 million on clouds in 80% of cases, is a key factor propelling the streaming analytics market's growth.

The escalating adoption of the Internet of Things (IoT) is set to be a significant driver for the streaming analytics market. IoT, characterized by a networked system of interconnected computing devices, facilitates real-time data processing, timely decision-making, anomaly detection, resource efficiency, automation, scalability, continuous monitoring, and event-driven architecture through streaming analytics. As per a report by Ericsson in September 2022, global IoT connections reached 13.2 billion and are projected to surge by 18% to 34.7 billion connections by 2028. The increasing integration of IoT technologies is thus playing a pivotal role in advancing the streaming analytics market.

A notable trend gaining momentum in the streaming analytics market is technological advancement, with major companies emphasizing the development of innovative solutions to fortify their positions. For instance, in March 2021, KX, a UK-based data analysis software company, unveiled KX Insights, a cloud-based streaming analytics platform that delivers scalable real-time data insights without the complexities of upgrades or additional infrastructure requirements. This trend extends to other market players, such as Striim Inc., a US-based software company that launched Striim Cloud 4.2 in August 2023. This advanced version of their streaming data integration and real-time analytics platform expands capabilities by supporting over 150 sources and targets, enhancing real-time data processing and insights in the cloud.

In June 2021, TIBCO Software Inc., a US-based business intelligence software company, executed the acquisition of Information Builders, a move aimed at concentrating on resource mapping and business alignment to bolster its customer base and global partner network. Information Builders, a US-based software company specializing in real-time streaming analytics, adds strategic value to TIBCO's market position.

Major companies operating in the in the streaming analytics market report are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, TIBCO Software Inc., Software AG, Striim Inc., Impetus Technologies Inc., SAS Institute Inc., Informatica Inc., Guavus Inc., Google LLC, Cloudera Inc., Conviva Inc., Intel Corporation, SQLstream Inc., Teradata Corporation, Iguazio Ltd., Axonize Ltd., Adobe Inc., Altair Engineering Inc., Mphasis Limited, INTECO Group, WSO2 Inc., EsperTech Inc., Materialize Inc., StarTree Inc., Crosser Technologies AB, Quix Inc., Lenses. io Ltd.

North America was the largest region in the streaming analytics market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the streaming analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the streaming analytics market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The streaming analytics market includes revenues earned by entities by providing solutions that understand, analyse, and derive insights from real-time data in motion by utilizing services such as real-time data analytics and event stream processing technologies. Streaming analytics is a software application that continuous processing and examination of massive data in action by using sources of streaming data such as equipment sensors, clickstreams, social media feeds, stock market quotes, and app activity. These insights are then used to analyze trends, visualize data, share insights and warnings, and start activities in real time. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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