Press release
Streaming Analytics Market Size To Grow At A CAGR Of 28.0% In The Forecast Period Of 2024-2032
Streaming analytics refers to the real-time processing and analysis of data streams. This technology allows businesses to extract actionable insights from data in motion, as opposed to traditional analytics, which deals with static data. Streaming analytics is crucial in scenarios where timely decision-making is essential, such as fraud detection, real-time marketing, and supply chain optimisation.
Several factors are propelling the streaming analytics market growth. Key among these is the exponential increase in data volume and velocity generated by digital technologies such as IoT devices, social media, and mobile applications. Businesses are increasingly seeking to leverage this data in real-time to enhance operational efficiency and customer experiences.
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Technological advancements are significantly influencing the streaming analytics market outlook. Innovations in AI and machine learning are enabling more sophisticated and predictive analysis of streaming data. Furthermore, advancements in cloud computing and big data technologies have made streaming analytics more accessible and cost-effective for a broader range of businesses.
Streaming analytics finds applications across various industries. In finance, it's used for real-time fraud detection and risk management. The retail sector leverages it for dynamic pricing and inventory management. In healthcare, streaming analytics aids in patient monitoring and predictive diagnostics. Additionally, in the telecommunications industry, it plays a critical role in network optimisation and real-time customer service enhancements.
Regionally, North America currently holds a significant portion of the streaming analytics market share, thanks to its advanced IT infrastructure and the presence of key market players. However, the Asia-Pacific region is expected to witness the highest growth rate. This growth is attributed to rapid digitalisation, increasing adoption of IoT, and the expansion of the e-commerce sector in countries like China and India.
The future of streaming analytics looks promising with the integration of technologies such as 5G, edge computing, and blockchain. These integrations are expected to further enhance the efficiency and security of real-time data processing and analytics.
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Market Segmentation
The market can be divided based on component, deployment model, organisation size, application, industry, and region.
Market Breakup by Component
• Software
• Service
Market Breakup by Deployment Model
• On-Premise
• Cloud
Market Breakup by Organisation Size
• Large Enterprises
• Small and Medium Sized Enterprises
Market Breakup by Application
• Fraud Detection
• Predictive Asset Management
• Risk Management
• Network Management and Optimisation
• Sales and Marketing
• Supply Chain Management
• Location Intelligence
• Others
Market Breakup by Industry
• BFSI
• IT and Telecom
• Manufacturing
• Government
• Retail and E-Commerce
• Media and Entertainment
• Healthcare
• Energy and Utilities
• Others
Market Breakup by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Competitive Landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global streaming analytics market. Some of the major players explored in the report by Expert Market Research are as follows:
• Amazon Web Services, Inc.
• IBM Corporation
• Impetus Technologies, Inc.
• Microsoft Corporation
• Oracle Corporation
• Others
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