The global streaming analytics market is expected to grow at a CAGR of 27.90% during the forecast period of 2022 to 2030. The market is being driven by the increasing demand for real-time data analytics and enhanced customer engagement. The widespread application of streaming analytics in algorithmic trading, supply chain optimization, intelligence and surveillance, real-time patient monitoring system, and others are also aiding the growth of the market.
Streaming Analytics Market Drivers
- Rising demand for real-time data analytics and enhanced customer engagement: The increasing demand for real-time data analytics is one of the major drivers of the streaming analytics market. Real-time data analytics enables businesses to make decisions based on the latest data, which helps them to improve their customer service, operations, and bottom line.
- Widespread application of streaming analytics in various industries: Streaming analytics is being widely adopted by various industries such as banking, financial services, and insurance (BFSI), healthcare, manufacturing, retail, and telecommunications. The increasing adoption of streaming analytics in these industries is expected to drive the growth of the market during the forecast period.
- Growing need for improved operational efficiency: Streaming analytics can help businesses to improve their operational efficiency by identifying and resolving issues in real time. This can help businesses to reduce costs, improve customer satisfaction, and increase revenue.
Get PDF for more professional and technical insights:
https://www.marketresearchfuture.com/sample_request/4409
Streaming Analytics Market Restraints
- High cost of implementation: The high cost of implementation is one of the major restraints of the streaming analytics market. The cost of implementing streaming analytics solutions can be high, especially for small and medium-sized businesses.
- Lack of skilled professionals: The lack of skilled professionals to implement and manage streaming analytics solutions is another major restraint of the market. The demand for skilled professionals in this field is expected to grow during the forecast period, which can pose a challenge for the growth of the market.
- Data security and privacy concerns: Data security and privacy concerns are another major restraint of the streaming analytics market. The real-time nature of streaming analytics makes it more vulnerable to security breaches and privacy violations. This can pose a challenge for the growth of the market during the forecast period.
Streaming Analytics Market Segmentation
The global streaming analytics market can be segmented on the basis of component, application, deployment, organization size, and vertical.
By Component
- Software
- Services
By Application
- Fraud detection
- Sales and marketing management
- Supply chain management
- Risk management
- Customer service
- Other applications
By Deployment
- Cloud
- On-premises
By Organization Size
- Small and medium-sized businesses (SMBs)
- Large enterprises
By Vertical
- Banking, financial services, and insurance (BFSI)
- Healthcare
- Manufacturing
- Retail
- Telecommunications
- Other verticals
Streaming Analytics Market Regional Analysis
The global streaming analytics market is segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW).
- North America is expected to be the leading market for streaming analytics during the forecast period. The growth of the market in North America can be attributed to the increasing adoption of streaming analytics by various industries such as BFSI, healthcare, manufacturing, and retail.
- Europe is expected to be the second-leading market for streaming analytics during the forecast period. The growth of the market in Europe can be attributed to the increasing investments in research and development, the growing adoption of cloud-based solutions, and the increasing demand for real-time data analytics.
- Asia Pacific is expected to be the fastest-growing market for streaming analytics during the forecast period. The growth of the market in Asia Pacific can be attributed to the increasing adoption of streaming analytics by various industries such as BFSI, healthcare, manufacturing, and retail.
- RoW is expected to be a relatively small market for streaming analytics during the forecast period. However, the market in RoW is expected to grow at a significant rate during the forecast period due to the increasing adoption of streaming analytics by various industries such as BFSI, healthcare, manufacturing, and retail.
Streaming Analytics Market Key Players
Some of the key players operating in the global streaming analytics market are:
- IBM Corporation
- Microsoft Corporation
- Oracle Corporation
- SAP SE
- Tibco Software Inc.
- Informatica Corporation
- Software AG
- Amazon Web Services
- Google Cloud Platform
- Alibaba Cloud
Top Trending Reports:-
Cloud Application Security Market Research Report - Global Forecast to 2023
Private Cloud Services Market Research Report- Global Forecast To 2030
Conclusion
The global streaming analytics market is expected to grow at a significant rate during the forecast period. The growth of the market can be attributed to the increasing demand for real-time data analytics and enhanced customer engagement.
