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The global streaming analytics market size to grow at a CAGR of 28.2% during the forecast period
The streaming analytics market size is expected to grow from USD 10.3 billion in 2019 to USD 35.5 billion by 2024, at a Compound Annual Growth Rate (CAGR) of 28.2% during the forecast period. The streaming analytics market is driven by various emerging technologies, such as big data, Internet of Things (IoT), and Artificial Intelligence (AI) a strategic shift toward real-time accurate forecast. However, lack of integrating legacy systems into big data solutions can hinder the growth of the streaming analytics market.
Services segment to grow at a higher CAGR during the forecast period
The streaming analytics market is segmented on the basis of types, such as software and services. The services segment is expected to grow at a rapid pace during the forecast period. An efficient streaming analytics service helps organizations develop a connected environment by integrating streaming analytics solution with their existing Information Technology (IT) infrastructure.
Energy and utilities vertical to grow at the highest CAGR during the forecast period
The streaming analytics market by vertical has been segmented into Banking, Financial Services, and Insurance (BFSI), telecommunication and IT, retail and eCommerce, healthcare and life sciences, manufacturing, government, energy and utilities, transportation and logistics, media and entertainment and others (outsourcing services, travel and hospitality, and eductaion). The energy and utilities segment is projected to grow at the highest CAGR during the forecast period, owing to the growing demand for the automation of power-usage analytics applications.
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Asia Pacific to grow at the highest CAGR during the forecast period
Asia Pacific (APAC) is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China India, Singapore, Japan, and Rest of APAC, growing government regulations and initiatives are expected to drive the growth of the market in APAC.
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the streaming analytics market.
- By Company: Tier I: 15%, Tier II: 42%, and Tier III: 43%
- By Designation: C-Level Executives: 62%, Directors: 20%, and Others: 18%
- By Region: North America: 40%, APAC: 30%, Europe: 20%, MEA: 5%, and Latin America: 5%
The report includes the study of the key players offering streaming analytics solutions and services. It profiles major vendors in the global streaming analytics market. The major vendors include IBM (US), Oracle (US), Microsoft (US), SAP (Germany), Software AG (Germany), SAS (US), TIBCO (US), Impetus Technologies (US), Striim (US), WSO2 (US), Informatica (US), Kx Systems (US), SQLstream (US), EsperTech (US), and Axonize (Israel). It also includes an in-depth competitive analysis of the key players in the streaming analytics market, along with their company profiles, business overviews, product offerings, recent developments, and market strategies.
- The market study covers the streaming analytics market across segments. It aims at estimating the market size and the growth potential of this market, across different segments, such as provider, application, organization size, and region.
- The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall streaming analytics market and the subsegments.
- This report will help stakeholders understand the competitive landscape and gain more insights to better position their businesses and to plan suitable go-to-market strategies.
- The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.