Streaming Analytics Market Future Scope, Analysis, Size, Share, Trends, Growth Rate, Report 2024-2033

The streaming analytics market size has grown exponentially in recent years. It will grow from $21.82 billion in 2023 to $28.19 billion in 2024 at a compound annual growth rate (CAGR) of 29.2%. The growth in the historic period can be attributed to real-time data processing, increased data volumes, demand for actionable insights, growth of iot devices, advanced analytics adoption.

The streaming analytics market size is expected to see exponential growth in the next few years. It will grow to $83.21 billion in 2028 at a compound annual growth rate (CAGR) of 31.1%. The growth in the forecast period can be attributed to edge computing integration, ai and machine learning in streaming analytics, cloud-native streaming platforms, expansion of 5g networks, cybersecurity concerns and solutions. Major trends in the forecast period include event-driven architecture, integration of streaming analytics with business intelligence, multi-cloud deployment models, focus on anomaly detection, streaming analytics for customer experience optimization.

Market Overview -
Streaming analytics is the processing and analysis of data records continuously rather than in batches. It allows the setting up of real-time analytics computations on data streaming and also provides language integration with quick and appropriate time-sensitive processing.

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Increased Usage Of Cloud Technology Fuels Growth In The Streaming Analytics Market
The growing usage of cloud technology is expected to propel the growth of the streaming analytics market going forward. Cloud technology, or cloud computing, is a method of delivering computing services over the internet. It allows users to access storage, files, software, and servers through their internet-connected devices. Cloud technology boosts the streaming analytics market by providing a scalable and efficient infrastructure for processing and analyzing large volumes of data in real-time. For instance, In December 2021, according to data published by Eurostat, Cloud technology was trendy in large organizations, as 72% used it in 2021, a 7 % increase over 2020. Cloud computing will be adopted by 53% of medium-sized businesses in 2021, up from 46% in 2020. Furthermore, In March 2022, According to Flexera's 2022 State of the Cloud Report, organizations reported spending more than $12 million yearly in 37% of cases in 2021 and more than $1.2 million on clouds in 80% of cases. Therefore, the growing usage of cloud technology is driving the growth of the streaming analytics market.

Competitive Landscape -
Major companies operating in the streaming analytics market report are Microsoft Corporation, IBM Corporation, Oracle Corporation, SAP SE, TIBCO Software Inc., Software AG, Striim Inc., Impetus Technologies Inc., SAS Institute Inc., Informatica Inc., Guavus Inc., Google LLC, Cloudera Inc., Conviva Inc., Intel Corporation, SQLstream Inc., Teradata Corporation, Iguazio Ltd., Axonize Ltd., Adobe Inc., Altair Engineering Inc., Mphasis Limited, INTECO Group, WSO2 Inc., EsperTech Inc., Materialize Inc., StarTree Inc., Crosser Technologies AB, Quix Inc., Lenses. io Ltd.

Advancements In Technology Drives Growth The Streaming Analytics Market
Technological advancement is a key trend gaining popularity in the streaming analytics market. Major companies operating in the streaming analytics sector are focused on developing new technological solutions to strengthen their position. For instance, in March 2021, KX, a UK-based data analysis software company, launched KX Insights, a cloud-based platform for streaming analytics. It uses streaming analytics technology to deliver scalable real-time data insights without the need for complicated upgrades, additional infrastructure, or the need to optimise for different cloud environments.

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Key Segments -

The streaming analytics market covered in this report is segmented -

1) By Component: Software, Service
2) By Deployment Mode: On-Premise, Cloud
3) By Organisation size: Large Enterprises, Small And Medium Sized Enterprises
4) By Industry Vertical: BFSI, IT And Telecom, Manufacturing, Government, Retail And E-Commerce, Media And Entertainment, Healthcare, Energy And Utilities, Other Industry Verticals

Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics

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