Streaming Analytics Companies | Forecast by 2033

20 Sep 2024

Table of Content

1. Streaming Analytics Market Growth and Trends 2. Market Overview 3. Streaming Analytics Market Emerging Trends 4. Top Companies in The Streaming Analytics Market 5. Regional Insights 6. Market Potential and Growth Opportunity 7. Streaming Analytics Market Highlights 8. Streaming Analytics Market News

Streaming Analytics Market Growth and Trends

The global streaming analytics market was evaluated at USD 25.86 billion in 2023 and is anticipated to be worth around USD 286.74 billion by 2033, growing at a CAGR of 27.2% during the forecast period. The streamlining analytics market is growing rapidly due to the increasing advancement in technology such as AI, and many others.

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Market Overview

The streaming analytics market is considered to be one of the most significant industries in the analytics market. It may include a diverse variety of data sources such as creating log files by using web applications, telemetry from connected devices, e-commerce transactions, and many more.

The analysis of fast-moving data continuously from various sources in streaming analytics as it analyzes the fast-running data in real-time so the huge amount of data storage is reduced. Streaming analysis is necessary for an enterprise that needs to analyze continuously fast-growing huge volume data. To enhance business efficiency by aggregating, correlating, and filtering data from sensors, IoT gateways, ERP and MES systems, and various other sources the continuous advancement is done by various dominating market players. Some of the major market players in this streaming analytics industry are IBM, Amazon Kinesis, Apache Flink, Google, and many more.

• For instance, in September 2022, Airtel and IBM announced to work together to bring the edge computing platform of Airtel which will comprise 120 network data centers across 20 cities in India.

Streaming Analytics Market Emerging Trends

• Real-time insights, prediction, and decision-making: Streaming analytics permits organizations to collect all the insights into data that in a way help to make quick decisions according to the information available.
• Enhanced customer experience: By getting all the information from real-time data it will be convenient to enhance the customers' experience.
• Increasing revolution: Due to the availability of a huge volume of data drawing every bit of information from that by streaming analytics improves the chances of innovating new technology in this field.

Planned shifting toward real-time data driving the streaming analytics market

Streaming analytics permits access, and analysis, and is useful for both prior time and real-time data available which is important to evaluate issues associated and changes or enhancements accordingly. All the companies are collaborating to get these kinds of features which help them know precisely about their market to add innovations.

The world is shifting towards digitalization from grocery to clothing, to studying, and almost for everything now people prefer online services, as the demand for online services increases the data generation is also increasing. For instance, in a research study by Google Cloud Tech, it was estimated that by the end of 2025, more than a quarter of data created in the global datasphere will be real-time in nature. According to research studies the increasing digitalization of smaller and smaller events in business and society is the reason companies are required to prepare with real-time data streaming analytics.

Various factors such as digital devices, digital commerce, digital communication, and digital media consumption are boosting the streaming analytics market. As soon as anything is purchased with the time of purchase data generation starts in various systems such as inventory systems, financial systems, and marketing systems. The kind of information that companies get to know from data streaming analytics is need recognition, information search, evaluation of alternatives, purchase decision, and post-purchase behavior.

• For instance, in November 2022, Amagi Media Labs Private Limited, which is a media technology company, innovated Streamwise, which is a platform designed to improve water waste management. It is to provide early-stage data aggregation and reporting for content distribution which is helping Amagi to improve data solutions capacity.
• For instance, Apache Kafka, which is an open-source data-handling platform, empowers companies to monitor and manage real-time data, gaining huge market adoption for streaming data analytics. With the massive shifting of everything toward the online world the demand for storage of data along with real-time streaming demand is rapidly increasing.

A lot of companies use legacy infrastructure, which has substantial business logic accumulated over many years of development, coding, and practical use. The organization's operations still rely heavily on the crucial data and processes found in these old systems. On the other hand, it could be challenging to integrate these outdated systems with more recent big data technologies and streaming analytics programs.

Top Companies in The Streaming Analytics Market

• International Business Machines Corporation
• Confluent
• Amazon Kinesis
• Google Cloud Platform
• StreamSets
• Apache Spark
• Microsoft Corporation
• Apache Flink
• Apache Kafka
• Azure Stream Analytics
• Google LLC
• Amazon Web Services, Inc.
• Cloudera
• Informatica Inc.
• Software AG
• StreamSQL
• TIBCO Software Inc.
• Apache Storm
• Altair
• Oracle Corporation

A Recent Development by TIBCO Software Inc.

• In August 2023, TIBCO Software Inc., introduced a concept that helps companies responding continuously changing environments by catching and detecting real-time data. This information helps to understand all about their business and take proactive steps for future improvements.

A Recent Development by Volt Active Data

• In January 2023, Volt Active Data, which is a real-time data processing platform that helps global organizations to power real-time business opportunities, announced the launch of Active Streaming Decisions, which is an ultra-high-speed engine that will permit companies to put on the power of the Volt Active Data Platform.

Regional Insights

Asia Pacific is expected as the fastest-growing streaming analytics market during the forecast period which is expected to grow exponentially in this predicted period of 2024-2033. The main reason behind the growth of this market is the rising demand for smartphones and digital devices primarily in countries like India, China, and Japan. For instance, in March 2024, the largest mobile phone company in Japan NTT Docomo launched the Web3 wallet, the company anticipated that this is the first major telecoms firm to launch a users-targeted Web3 wallet.

North America dominated the streaming analytics market in 2023 due to the presence of such companies that are doing well in the market. The market is introducing various advanced versions of the technology with affordability which helps many business organizations to use streaming huge data and get all the information that can help them to grow. For instance, Microsoft Azure Stream Analytics, which is a serverless scalable multifaceted event handing out engine by Microsoft permits employers to advance and run real-time analytics on numerous streams of data from various sources such as websites, devices, social media, sensors, and many others. Microsoft Azure launched a new Azure Analytic Systems in May 2023, as they announced that due to customer demand for this system, the team ultimately decided to launch it in less price.

Market Potential and Growth Opportunity

Collaboration among companies is enhancing streaming analytics market opportunities

Several companies are collectively progressing in market research which enhances the chances of bringing innovation in the analytics market. For instance, in September 2023, Confluent, which is a technology company that is famous for designing and developing data platforms that help organizations harness business value from stream data, announced a fully managed service on Confluent Cloud for Apache Flink along with a data streaming for AI initiatives.

Companies generally invest in such companies that can produce refined conclusions from their real-time captured data. Also, various research is regularly conducted for the advancement of technology like natural language processing, machine learning, and artificial intelligence. Such collaboration results in expanding the streaming analytics market due to a huge amount of investment and various other factors.

Streaming Analytics Market Highlights

Streaming Analytics Market News

• In December 2023, FICO, which is a leading analytics software company, launched its cloud-based platform in India. The FICO platform brings to market a suite of advanced decisions and AI capabilities to empower local businesses.
• In May 2022, Giant Conviva, which is a US-based streaming company, launched full-scale continuous measurement analytics through real-time in Japan.

Market Segmentation

By Components

• Software
• Services
• Professional Services
• Managed Services

By Deployment

• On-premises
• Cloud

By Applications:

• Marketing and Sales
• Risk Management
• Network Management & Optimization
• Location Intelligence
• Supply Chain Management
• Fraud Detection
• Others

By Industry:

• IT and Telecom
• Media and entertainment
• Banking, Financial Services, and Insurance (BFSI)
• Retail and E-commerce
• Healthcare
• Transportation and Logistics
• Energy and Utilities
• Others

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