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The streaming analytics market size is forecast to increase by USD 39.7 at a CAGR of 34.63% between 2023 and 2028.
The streaming analytics industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
Cloud-deployed streaming analytics solutions enable businesses to analyze data in real time using remote computing resources, such as the cloud. This deployment model streamlines business intelligence processes by collecting, integrating, and presenting derived insights instantaneously, enhancing decision-making efficiency. The cloud segment's growth is driven by benefits like quick deployment, flexibility, scalability, and real-time data visibility. Service providers offer these capabilities with flexible payment structures, including pay-as-you-go. Advanced solutions integrate AI, API, and event-streaming analytics capabilities, ensuring compliance with regulations, optimizing business processes, and providing valuable data accessibility. Cloud adoption in various sectors, including finance, healthcare, retail, and telecom, is increasing due to the need for real-time predictive modeling and fraud detection.
SMEs and startups also benefit from these solutions due to their ease of use and cost-effectiveness. In conclusion, cloud-based streaming analytics solutions offer significant advantages, making them an essential tool for organizations seeking to digitize and modernize their IT infrastructure.
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The Cloud segment was valued at USD 4.40 in 2018 and showed a gradual increase during the forecast period.
Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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In North America, the region's early adoption of advanced technology and high data generation make it a significant market for streaming analytics. The vast amounts of data produced in this tech-mature region necessitate intelligent analysis to uncover valuable relationships and insights. Advanced software solutions, including AI, virtualization, and cloud computing, are easily adopted to enhance business logic and optimize processes in developed industries. The market in North America is experiencing growth due to the abundance of use cases arising from these advanced technologies. Compliance regulations, cyber-attacks, and the need for real-time decision-making processes further drive the demand for streaming analytics.
Cloud solutions offer ease of use, scalability, and security, making them a preferred deployment mode for businesses of all sizes, from large enterprises to startups. API integration and data connectivity enable seamless data accessibility and integration, while data models and visualizations facilitate better understanding of business metrics. Predictive models and real-time prediction capabilities add value by optimizing production and demand and detecting fraud cases in various commercial applications, including retail, healthcare, telecom, and IoT.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Need to improve business efficiency is the key driver of the market.
Integration with AI and ML technologies is the upcoming market trend.
Difficulty in integration of legacy systems with streaming analytics solutions is a key challenge affecting the industry growth.
The streaming analytics market forecasting report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the streaming analytics market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, streaming analytics market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence In the industry.
Adobe Inc. - The market encompasses real-time data processing and analysis technologies, enabling businesses to gain insights from live data streams. This market is experiencing significant growth due to increasing data volumes, the need for instant decision-making, and advancements in cloud computing and IoT. Companies in various sectors, including finance, retail, and healthcare, are adopting Streaming Analytics solutions to enhance operational efficiency, improve customer experiences, and drive innovation. These solutions provide real-time visibility into data, enabling organizations to quickly identify trends, anomalies, and patterns, and respond accordingly. The market is expected to continue its expansion, driven by the increasing adoption of cloud-based services and the growing demand for real-time data processing and analysis.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Streaming analytics refers to the process of real-time data processing and analysis, enabling businesses to gain insights from continuous data streams. Advanced solutions in this domain leverage artificial intelligence (AI) and application programming interfaces (APIs) to automate data processing and enhance business logic and processes. The adoption of cloud-based streaming analytics solutions has surged due to their ease of use, scalability, and ability to integrate with various data sources. Cloud solutions offer businesses the flexibility to access data in real-time, optimize resource utilization, and ensure data accessibility and connectivity. Businesses across industries, including healthcare, retail, telecom, and finance, are increasingly relying on streaming analytics to make direct decisions and improve operational efficiency.
The technology is particularly valuable in sectors where real-time event processing and prediction are crucial, such as fraud detection and cybersecurity. However, the shift towards streaming analytics is not without challenges. Compliance regulations, technical drawbacks, and the need for data privacy and security are key considerations for organizations. Legacy infrastructure and systems pose challenges for modernization and integration, necessitating modifications and enhancements. The emergence of IoT and other emerging technologies has further complicated the landscape, necessitating continuous data stream processing and real-time prediction capabilities. Location intelligence and metrics are increasingly important for businesses looking to gain valuable insights from their data.
Despite these challenges, the financial impact of streaming analytics is significant. Startups and small and medium enterprises (SMEs) are increasingly adopting cloud-based solutions to optimize their business processes and gain a competitive edge. Large enterprises are modernizing their IT infrastructure to support real-time decision-making processes and improve production and demand forecasting. Real-life experiences demonstrate the power of streaming analytics in various applications. For instance, a retailer can use real-time data to optimize inventory levels and pricing, while a telecom provider can use the technology to monitor network performance and detect anomalies. In conclusion, streaming analytics is a critical component of digitalization and business modernization, enabling organizations to gain real-time insights and make informed decisions.
The technology's ability to process and analyze continuous data streams in real-time is driving its adoption across industries, despite the challenges posed by compliance regulations, technical limitations, and legacy infrastructure.
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Market Scope |
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Report Coverage |
Details |
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Page number |
175 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 34.63% |
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Market growth 2024-2028 |
USD 39.7 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
27.59 |
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Key countries |
US, China, UK, Canada, and Japan |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Deployment
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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