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The global streaming analytics industry is being driven by the rapid digitalisation, such as the heightened adoption of the internet of things (IoT) across different industry verticals worldwide. In addition, with rapid technological advancements, such as the proliferation of artificial intelligence (AI) and machine learning solutions, cloud-based deployment models are increasingly being adopted to help with the processing and analysis of a large amount, in-motion data. This is also contributing to the market growth. Moreover, the increased emphasis on consumer demand is leading to the development of improved streaming analytics solutions, which is expected to positively impact the market growth.
The growing focus of the leading players to develop streaming analytics by utilising advanced technological solutions as a means to invigorate their utility is estimated to significantly catalyse the industry growth in the forecast period. For instance, in December 2020, Amazon Web Services Inc. (NASDAQ: AMZN) announced the release of three new analytics capabilities, namely, AQUA; which provides 10x better query performance than other cloud based solutions, AWS Glue Elastic Views; which helps developers to create applications that integrate data across sources with automatic combination and replication, and Amazon QuickSight Q that enables individuals to use natural language expressions for business-oriented questions to enhance the overall customer experience. Furthermore, another leading streaming analytics vendor, Oracle Corporation (NYSE: ORCL), in a press release dated April 2021, announced the launch of its GoldenGate technology as an automated and fully managed cloud service, which ensures data storage, accessibility, and real-time analysis. This service allows users to design, execute, orchestrate, and monitor the data replication and streaming events. In addition, this new service is integrated with GoldenGate Stream Analytics and provides multi-cloud streaming data analytics with artificial intelligence (AI), machine learning (ML), geo-spatial, and time-series data. These developments are expected to significantly impact the growth of the streaming analytics industry in the forecast period.
Market Breakup by Component, Deployment Model, Organisation Size, Application, Industry, and Region:
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The major players in the global streaming analytics market are Amazon Web Services, Inc., IBM Corporation, Impetus Technologies, Inc., Microsoft Corporation, Oracle Corporation, and others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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