Streaming Analytics Market Analysis Report By Component, By Deployment, By Application, By End Use, By Region And Segment Forecasts From 2019 To 2025

Industry Insights

The global streaming analytics market size was worth USD 6.32 billion in 2018. The market is estimated to witness a 28.9% CAGR over the forecast years, 2019 to 2025. Analytics help in improving the performance of businesses by understanding the risks. Considering the benefits of streaming analytics services, businesses are increasingly investing in this solution. Alternatively known as event stream processing, stream analytics refers to the analysis of in-motion and real-time data called event streams. Owing to its ability to process real-time streaming data, streaming analytics has replaced conventional processes.

There has been significant improvement in streaming analytics services owing to the emergence of IoT-based devices and sensors. IoT-enabled devices are gathering a significant amount of performance and operational data. Increasing demand for such data by companies to improve their decision-making, customer retention, and network optimization processes are driving market growth. Enterprises are increasingly using streaming analytics services for customer satisfaction and creating new business models. Therefore, the demand for streaming analytics has increased significantly in finance, operations, and marketing.

Buoyed by the growing demand for streaming analytics services, a large number of start-ups have emerged and offering advanced streaming analytics solutions. Moreover, advancements in innovative technologies such as big data analytics, machine learning, and artificial intelligence have paved the way for the processing of large volumes of data generated from electronics devices, IoT devices, and IoT networks.

However, lack of a skilled workforce, high cost, and legacy architecture are some of the major challenges restraining the growth of the market. In addition, stringent data protection regulations such as the General Data Protection Regulation (GDPR) are also adversely affecting the growth of the market. Further, the lack of awareness about the benefits of streaming analytics services is also negatively affecting growth. However, with growing digital transformation across industries, the impact of the above-mentioned reasons is projected to diminish over the forecast duration.

Component Insights

By components, the streaming analytics market is categorized into services and software. In 2018, the software segment accounted for the largest share in the market. Further, the segment is projected to grow with the highest CAGR from 2019 to 2025. The rise in streaming analytics adoption in both large-scale and small enterprises in the Asia Pacific, Europe, and North America are driving the growth of the segment.

To analyze unstructured video, audio, texts, IoT sensors, and geospatial data, companies are increasingly deploying streaming analytics solutions. Moreover, the ability of streaming analytics services in analyzing performance data and real-time business data is encouraging enterprises to adopt these solutions. The services category is also estimated to register considerable growth over the forecast duration owing to the increasing demand for customized streaming analytics solutions coupled with increasing cloud adoption.

Deployment Insights

Depending on the deployment, in 2018, the cloud segment held the largest share in the market. Further, the segment is anticipated to exhibit the highest growth rate over the forecast duration. The software-as-a-service model permits companies to adopt subscription-based services. Cloud offers low latency data transformation for streaming analytics services.

Cloud also offers flexibility in terms of integration, reduced maintenance, and has low requirements for the workforce. Further, cloud-based solution offers access through multiple devices such as smartphones, desktop computers, and laptops. Thus, the benefits offered are anticipated to provide lucrative opportunities for the growth of the market in the next few years.

Application Insights

On the basis of application, the market has been categorized into marketing and sales, supply chain management, predictive asset management, location intelligence, fraud detection, and others. In 2018, the marketing and sales category held the largest share in the market. Factors such as the increasing use of streaming analytics in campaign management, customer profiling, demographic analysis, and monitoring are driving its adoption in marketing and sales.

On the other hand, the risk management category is predicted to grow with the highest CAGR from 2019 to 2025. Over the past years, the use of streaming analytics has increased in monitoring, estimating, and minimizing the occurrence of unlikely events. For example, to capture the real-time data generated from smart devices in industrial operations, a steaming analytics solution is deployed. By analyzing real-time data, asset uptime in these industries can be improved significantly.

End-use Insights

Depending on the end-use, the streaming analytics market is segregated into retail, IT and telecom, healthcare, education, BFSI, media and entertainment, government, and others. Of them, in 2018, the IT and telecom category held the largest share in the market. Increasing the customer-centric approach and focus on providing customized solutions are attributing to the growth of this segment. For better customer services, IT and telecom companies are utilizing a huge amount of operational data. It includes statistics about application usage and customers’ location to help them with personalized experiences.

On the other hand, the media and entertainment division is anticipated to witness the highest growth from 2019 to 2025. Growing demand to access multi-media content on OTT platforms through various devices is driving the segment growth. The advent of high-speed internet connection has resulted in increased consumption of quality content. Further, the media and entertainment sector is also focusing on designing innovative marketing campaigns using a streaming analytics solution.

Regional Growth

In 2018, North America accounted for the highest share in the market. The region is also the home of the major streaming analytics solution providers like Oracle Corporation, IBM Corporation, Microsoft, and others. These companies are increasingly deploying streaming analytics services for industrial and individual purposes. The increasing number of people with an internet connection, early adoption of various innovative techniques, and tech-savvy population are driving regional growth.

APAC is projected to witness the highest growth over the forecast period. Increasing sales of consumer electronics devices such as laptops, tablets, and smartphones coupled with growing technology adoption of IoT devices in countries such as Japan, India, and China is driving the regional growth. Moreover, countries like India and China have witnessed increased penetration of internet connectivity.

Impact of COVID-19

The outbreak of pandemics has augmented the demand for streaming analytics services. This demand has been mostly from the IT & telecom and media & entertainment industries. The pandemic has forced people to stay at home, which resulted in a rapid rise in the consumption of online content through different devices. OTT video streaming platforms such as Netflix and Disney+ have witnessed a surge in subscriber-based globally. Increasing subscriptions has led to a growing emphasis on customer retention and satisfaction. Streaming analytics helps enterprises in offering customized-location-based content.

Streaming Analytics Market Share Insights

Key players in the market are emphasizing the development of advanced event-streaming analytics solutions to augment commercial application. In addition, key players are collaborating with start-ups to develop an enhanced solution. For example, Oracle acquired DataFox in 2018 to integrate the later AI capability in cloud applications. Similarly, Microsoft collaborated with Fastly Inc. in 2019 in order to develop the customer-centric application using Azure Data Explorer (ADX). Key players operating in the market are Microsoft, IBM Corporation, Oracle, SAP SE, Software AG, Striim Inc., and Informatica among others.

Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global streaming analytics market report based on component, deployment, application, end-use, and region:

• Component Outlook (Revenue, USD Million, 2015 - 2025)
    • Software
    • Services
        • Professional Services
        • Managed Services

• Deployment Outlook (Revenue, USD Million, 2015 - 2025)
    • On-premise
    • Cloud

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Fraud Detection
    • Marketing & Sales
    • Risk Management
    • Predictive Asset Management
    • Network Management & Optimization
    • Location Intelligence
    • Supply Chain Management
    • Others

• End-Use Outlook (Revenue, USD Million, 2015 - 2025)
    • BFSI
    • IT & Telecom
    • Retail
    • Healthcare
    • Government
    • Media & Entertainment
    • Education
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • The U.S.
        • Canada
    • Europe
        • U.K.
        • Germany
    • Asia Pacific
        • China
        • India
        • Japan
    • Latin America
        • Brazil
    • Middle East & Africa