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Global Streaming Analytics Market to Grow at a CAGR of 28% During 2021-2026, Aided by the Increased Digitalisation and Rapid Technological Advancements

According to a new report by EMR titled, ‘Global Streaming Analytics Market Report and Forecast 2021-2026’, the market reached a value of around USD 9.81 billion in 2020. It is expected to witness a robust growth in the forecast period, growing at a CAGR of 28% between 2021 and 2026 to attain USD 43.1 billion by 2026.

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:

  • The market is divided based on component into software and service.  
  • On the basis of deployment model, the market can be distributed into on-premise and cloud-based.
  • Based on organisation size, the industry is segregated into large enterprises and small and medium sized enterprises. 
  • The industry is segmented, on the basis of application, into fraud detection, predictive asset management, risk management, network management and optimisation, sales and marketing, supply chain management, location intelligence, and others. 
  • On the basis of industry, the market can be categorised into BFSI, IT and telecom, manufacturing, government, retail and e-commerce, media and entertainment, healthcare, energy and utilities, and others.
  • Region-wise, the global market for streaming analytics can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

  • The global market for streaming analytics is being driven by the increased demand for streaming analytics in major industry verticals.
  • The growing emphasis of manufacturers on meeting the rising consumer demand for latest solutions has significantly contributed to the market expansion. 
  • The increased adoption of cloud-based streaming solutions is also aiding the industry growth. 
  • The rising technological advancements and the development of supply chain management streaming analytics tools are further propelling the market growth.

Key Offerings of the Report:

  • The EMR report gives an overview of the global market for streaming analytics for the periods (2016-2020) and (2021-2026).
  • The report also offers historical (2016-2020) and forecast (2021-2026) market information for the components, deployment models, organisation sizes, applications, industries, and major regions of streaming analytics.
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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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