"Smart Strategies, Giving Speed to your Growth Trajectory"
The streaming analytics market size was valued at USD 18.10 billion in 2022 and is projected to grow from USD 22.34 billion in 2023 to USD 125.64 billion by 2030, exhibiting a CAGR of 28% during the forecast. North America streaming analytics market was evaluated USD 3.87 Billion in 2022.
Streaming analytics, also known as event stream processing, involves analyzing large amounts of data records continuously rather than in batches. Typically, these analytics are useful for types of data sources that send data in small sizes.
This data is analyzed in real time and further reduces the need for long-term data storage. It involves using specialized software and algorithms to extract valuable information, detect patterns, make decisions, and act on continuously flowing data. This data can come from sensors, financial markets, social media, or any other source that produces a constant stream of information. These analytics are important in various applications, including fraud detection, network performance monitoring, IoT (Internet of Things) data analytics, and more, where timely and dynamic analysis of data is essential.
Rising Demand for Real-time Data Analysis among Various Sectors during COVID-19 Aided Market Growth
The COVID-19 pandemic had a significant impact on the market. The outbreak led to a surge in the demand for these analytics as organizations needed real-time data insights to adapt to rapidly changing conditions. These analytics were majorly used in industries, such as healthcare, e-commerce, and entertainment. Furthermore, in healthcare, these analytics played a crucial role in monitoring patient data, vaccine distribution, and contact tracing efforts. Thus, it helped healthcare organizations respond more effectively to the pandemic. Moreover, some industries, such as sports and entertainment saw a huge decline in their traditional markets due to lockdowns and other restrictions. This scenario pushed them to explore new revenue streams through various analytics solutions. Thus, the pandemic had a major impact on the market.
Increasing Adoption of Streaming Analytics Platforms to Provide Faster Insights and Actions Will Fuel Market Growth
Consumers and enterprises are increasingly generating huge volumes of data at an unprecedented rate. The volume and variety of data circulating within an organization can often be enormous. Understanding the data context is essential for improving customer relationships, enhancing operational efficiency, minimizing risk, and discovering new opportunities. These analytics extract business value from a large amount of data, while traditional analytics tools use data at rest.
These real-time analytics help companies of all sizes by providing instant alerts when consumer experience deteriorates or fraud is identified. Moreover, information obtained from real-time analytics can be used to recognize business anomalies and changes (sudden increases in demand for products/services or defaults in manufacturing) as they occur. Such information allows businesses to act immediately and seize opportunities that they might miss. Thus, this factor will promote market growth.
Request a Free sample to learn more about this report.
Strategic Shift toward Detailed Projections in Real Time to Drive Market Growth
Streaming analytics offers insights through data visualization and provides real-time predictions for streaming data. It uses predictive modeling deployed for customers to support accurate decision-making in real time. This entire iterative process involves rigorous testing with complex data sets and tracking Key Performance Indicators (KPIs), metrics, and important data points related to a specific department. Such a model is made to calculate economic results with the help of a constant data stream that is fed to it. Therefore, these analytics are used to improve business processes and decision-making, and achieve the ability to optimize, automate, and direct decisions as per the company’s needs to achieve its organizational goals. Thus, these factors will boost the growth of the market in the coming years.
Lack of Streaming Analytics Solutions Integration with Older Systems May Hinder Market Growth
Many companies rely on the existing infrastructure, which contains critical business logic gathered over years of coding, development, and real-world applications. These legacy systems often contain critical data and processes that are still essential to an organization's operations. However, integrating these legacy systems with newer big data technologies and analytics solutions can be difficult. Legacy systems are built with outdated technology and may not be able to handle the volume, velocity, and variety of data that analytics requires. They may not have the API or data integration capabilities needed to integrate with these analytics solutions seamlessly. This lack of connectivity can make it difficult for organizations to get the most out of their existing systems and incorporate real-time operational data from these analytics, thereby hindering the growth of the market.
Software Segment’s Dominance Driven by the Rise of Real-Time Data Analysis
Based on component, the market is segmented into software and managed services. The software segment dominates the market with the highest market share. The increasing emphasis on KPI monitoring, real-time data analysis and actionable comprehension is driving the segment’s dominance in the market. Real-time data analysis allows companies to adapt proactively to varying market conditions, new trends, and consumer behavior, enabling them to remain competitive in volatile marketplaces. Enterprises can evaluate their success and performance by continuously tracking KPIs, thereby allowing quick adaptations to strategy and operations. Thus, this factor will boost the global streaming analytics market growth.
The managed services segment is predicted to record the highest CAGR during the forecast period. The adaptability of these services, including professional & managed services, enables businesses to identify the solution to their specific requirements and successfully solve industry-specific problems. Therefore, these factors will play a vital role in driving the growth of the segment.
Cloud Adoption Fuels Large Enterprises' Embrace of Streaming Analytics for Enhanced Customer Engagement
By enterprise type, the market is bifurcated into large enterprises and small & medium enterprises. The large enterprises segment dominated the market with the highest global streaming analytics market share. The implementation of these services and software among large-scale enterprises is higher owing to the growing adoption of cloud solutions. The segment is estimated to continue to grow during the forecast period as well. These analytics carry great potential for large businesses as poor presentations can increase their risk of losing customers, eventually affecting their brand name. Thus, this factor is boosting the segment’s growth.
The small & medium enterprises segment is expected to record the highest CAGR during the forecast period due to several factors, such as rising awareness about the benefits of these analytics software, increasing focus on improving consumer experience, and accessibility to cost-efficient software in the market. These factors will play a vital role in driving the segment’s growth.
Cloud Segment’s Ascendancy Led by Transforming Analytics with Swift Integration and Cost-Efficient Maintenance
On the basis of deployment, the market is bifurcated into cloud-based and on-premise. The cloud-based segment holds the largest market share in terms of revenue. Quick integration and inexpensive maintenance are some of the advantages of the cloud deployment model. These solutions are easier to execute and set up than the traditional on-premises solutions, permitting businesses to benefit from their data analytics activities quickly.
The on-premise segment is expected to record a significant CAGR in the coming years. Organizations use on-premises analytics platforms to detect fraudulent transactions in real time. This can help companies reduce their losses and improve customer protection. Thus, this factor is driving the segment’s growth.
Sales & Marketing Segment Leads with Innovative Stream Processing Solutions Focused on Customer Engagement
By application type, the market is categorized into supply chain management, sales & marketing, fraud detection, predictive asset management, risk management, and others.
The sales & marketing segment captured the highest market share. This is due to the growing usage of event stream processing solutions in delivering better consumer engagement by employing campaign management, customer profiling, demographic analysis, and other such techniques. Several businesses are also using these solutions more frequently to understand their target market's preferences and customer behavior. Thus, this factor is promoting the segment’s growth.
The predictive asset management segment is expected to record the highest CAGR during the forecast period. These analytics help identify patterns and data that can be used to predict future asset failures. This allows organizations to take preventive actions, such as scheduling maintenance or replacing components before they fail. Therefore, these factors will play an important role in driving the segment’s growth.
To know how our report can help streamline your business, Speak to Analyst
IT & Telecommunications Segment Leads with Customer-Centric Analytics
On the basis of industry, the market is segmented into BFSI, IT & telecom, healthcare, retail & e-commerce, media & entertainment, energy & utilities, manufacturing, and others. The IT & telecommunications segment held a larger market share in 2022. The segment’s growth is attributed to the customer-centric approach adopted by this sector and their rising focus on providing customized, feature-rich products at competitive pricing or via subscription models. Companies in this sector are using these analytics to examine huge amounts of operational data to serve their customers better. Thus, the adoption of these analytics in the IT & telecommunications sector is expected to boost segment’s growth.
The retail & e-commerce segment is expected to record the highest CAGR during the forecast period. Companies from the retail sector have access to multiple data streams, such as inventory reorder times and tracking client activity and business trends, to offer personalized products to clients. Thus, the retail industry is using real-time analytics to detect and prevent fraudulent transactions by analyzing real-time data, helping safeguard the e-commerce platform from financial losses. Thus, this factor boosts market growth.
In terms of region, the global market is divided into North America, South America, Europe, the Middle East & Africa, and Asia Pacific. They are further segmented into different countries.
North America holds the largest share in the market. The region’s growth is attributed to the increasing adoption of IoT devices. These analytics are crucial for monitoring and making sense of the continuous data streams generated by IoT devices. Moreover, North American companies deal with vast amounts of data. These analytics help process this data in real time, allowing for immediate insights and responses. In addition, companies, such as Facebook and Twitter in North America use these analytics for real-time sentiment analysis and content moderation. As a result, North America holds the largest market share.
To know how our report can help streamline your business, Speak to Analyst
Asia Pacific is expected to grow rapidly during the forecast period. With the rapid expansion of e-commerce in India and China, these analytics are used for real-time order processing, inventory management, and customer insights. Hence, the growing adoption of technology in this region will act as a catalyst for the regional market’s expansion.
Europe is expected to showcase steady growth over the forecast period. European governments are using these analytics for various public sector applications, such as traffic management, public safety, and environmental monitoring. The high adoption of these analytics in Europe is driven by the need to remain competitive in various industries by leveraging real-time data insights. Thus, the region's focus on data privacy and security also makes analytics a valuable tool for compliance and risk management.
Similarly, South America is showing significant growth in this market, with more advanced countries, such as Brazil, Chile, and Argentina leading the way. The streaming analytics technology is becoming increasingly relevant in the region as businesses and governments seek to harness real-time data for better decision-making and resource management. In addition, the Middle East & Africa (MEA) market is expected to witness healthy growth in the coming years due to increased investment in and government funding for digitization.
Industry Giants Drive Market Growth through Innovation and Collaborations
Top industry participants are poised to employ merger and acquisition tactics to broaden their operations. Global market leaders are strategically elevating their global footprint and market share by emphasizing product advancements, partnerships, and robust marketing strategies. Their focus remains on devising effective solutions to both bolster and sustain their market presence. The escalating demand for streaming analytics solutions across diverse sectors is forecasted to yield profitable openings for these market contenders.
An Infographic Representation of Streaming Analytics Market
To get information on various segments, share your queries with us
The report provides a detailed analysis of the market and focuses on key aspects, such as leading companies, product/service types, and leading applications of the product. Besides, it offers insights into the market trends and highlights key industry developments. In addition to the factors mentioned above, the report encompasses several factors that contributed to the growth of the market in recent years.
CAGR of 28% from 2023 to 2030
Value (USD Billion)
By Enterprise Type
The market is projected to reach USD 125.64 billion by 2030.
In 2022, the market was valued at USD 18.10 billion.
The market is projected to record a CAGR of 28% during the forecast period.
The retail & e-commerce segment is expected to lead the market.
Strategic shift toward detailed projections in real time is the key factor driving the market growth.
Microsoft Corporation, Google, Software AG, StreamSets, Cloud Software Group, Inc., Confluent, IBM Corporation, AWS, Informatica, and Impetus are the top players in the market.
North America is expected to hold the highest market share in the streaming analytics sector.
By component, the managed services segment is expected to record the highest CAGR during the forecast period.
“This report is really well done and we really appreciate it! Again, I may have questions as we dig in deeper. Thanks again for some really good work.”- U.S.-based biotechnology company focussing on treatment of chronic pain.
“Kudos to your team. Thank you very much for your support and agility to answer our questions.”- Europe-based provider of solutions to automate data centre operations.
“We appreciate you and your team taking out time to share the report and data file with us, and we are grateful for the flexibility provided to modify the document as per request. This does help us in our business decision making. We would be pleased to work with you again, and hope to continue our business relationship long into the future.”- India-based manufacturer of industrial and specialty intermediates with a strong global presence.
“I want to first congratulate you on the great work done on the Medical Platforms project. Thank you so much for all your efforts.”- One of the largest cosmetics company in the world.
“Thank you very much. I really appreciate the work your team has done. I feel very comfortable recommending your services to some of the other startups that I’m working with, and will likely establish a good long partnership with you.”- U.S. based startup operating in the cultivated meat market.
“We received the below report on the U.S. market from you. We were very satisfied with the report.”- Global hearing aids manufacturer.
“I just finished my first pass-through of the report. Great work! Thank you!”- U.S. based solar racking solutions provider.
“Thanks again for the great work on our last partnership. We are ramping up a new project to understand the imaging and imaging service and distribution market in the U.S.”- World’s leading advisory firm.
“We feel positive about the results. Based on the presented results, we will do strategic review of this new information and might commission a detailed study on some of the modules included in the report after end of the year. Overall we are very satisfied and please pass on the praise to the team. Thank you for the co-operation!”- Germany based machine construction company.
“Thank you very much for the very good report. I have another requirement on cutting tools, paper crafts and decorative items.”- Japanese manufacturing company of stationery products.
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry