[293 Pages Report] The global streaming analytics market size is expected to grow from USD 12.5 billion in 2020 to USD 38.6 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 25.2% during the forecast period. Artificial Intelligence (AI), big data analysis, and the Internet of Things (IoT) are some of the emerging technologies creating possibilities for better interpretation and understanding of user behavior. The strategic business shift towards real-time, which accurately provides forecasts for faster decision making, is also expected to drive the market growth. However, inadequate system integrity is one of the factors hindering the industry growth.

COVID-19 impact on the global streaming analytics market

In a short period, the COVID-19 outbreak has affected markets and customer behavior and is making a substantial impact on economies and societies. With offices, educational institutions, and manufacturing facilities shutting down for an indefinite period; major sports and events being postponed; and work-from-home and social distancing policies in effect, businesses are increasingly looking for technologies to help them sail through these difficult times. The COVID-19 pandemic is impacting businesses across the globe. Analytics companies are trying to fight this pandemic by keeping their assets online and ensuring the privacy and security of data across networks. Analytics professionals, business intelligence professionals, and professionals providing expertise in advanced analytics such as AI and ML have been called for their expertise to help executives make business decisions on how to respond to the new business challenges caused by the COVID-19 outbreak. Streaming analytics companies are also facing challenges related to the inflexibility of data infrastructure. For instance, network infrastructure in Europe is witnessing higher connection drop rates and lower audio quality. The European Union (EU) has asked streaming service providers to limit picture quality to alleviate potential outages.

Market Dynamics

Driver: Emerging technologies such as big data, IoT, and AI to drive the market

Continuous developments in emerging technologies, such as AI, the Internet of Things (IoT), big data, Machine-to-Machine (M2M) communication, and cloud technology, have created new possibilities for the investigation of information derived from streaming data. IoT devices generate a considerable amount of data from various sources, such as sensors, cameras, and other connected devices. The data, however, does not provide any value by itself unless converted into actionable, contextual information. Big data and data visualization techniques enable users to gain new insights through batch processing and offline analysis. Real-time data analysis and decision-making are often done manually, but to make them scalable, it is preferred to be done automatically. Continuous analysis of data requires streaming analytics solutions that execute or update insights every few seconds or milliseconds.

Restraint: Lack of integration of legacy systems with streaming analytics solutions

Competitive pressures and new regulations entail organizations to handle increasing volumes and varieties of data efficiently, which is an expensive process. Therefore, storing, analyzing, and accessing data is a growing problem for organizations while implementing streaming analytics. The increasing demands of big data exceed the constraints of traditional relational databases, and thus for most organizations, evaluating legacy infrastructure and assessing new technology has become a necessity, not only to gain competitive advantage but also for compliance purposes. Organizations find the integration of legacy infrastructure and big data challenging. The task that lies ahead of these organizations is how well they carry out the integration of legacy infrastructures with big data. Legacy systems contain the significant and invaluable business logic of the organization. As the legacy systems are assets of the organizations, they cannot afford to throw away or replace this business logic. Many areas are yet left unaddressed about the integration of big data into legacy systems. Incorporating data from new sources, specifically continuous data generating sources into existing legacy systems is a technical drawback. Moreover, the sheer volume of big data can be daunting.

Opportunity: Real-time recommendations, pattern detection, and anomaly detection to gain traction

Organizations are beginning to take a more in-depth look at capturing data about streaming events. Being able to act as soon as events are generated improves operational responsiveness and organizational effectiveness. The integration of businesses with streaming analytics solutions provides the flexibility to apply rich context to the events as they occur. Streaming analytics can be used to improve operational efficiencies, reduce infrastructure costs, and provide faster insights and actions. Essentially, streaming analytics is all about extracting business value from data in motion in the same way traditional analytics tools make use of data at rest. Tight integration is required if the results derived are used to make real-time decisions or to take actions regarding customer service, security or fraud prevention, product recommendations, or automated chat or voice response.

Challenge: Handling large-scale data in a decentralized environment

Currently, organizations are transforming their businesses either through partnerships or acquisitions, which in turn, helps in the expansion of various domains that demand the adoption of different emerging technologies, thus causing several structural changes. Owing to this, organizations have a fear of losing potential data or face difficulty in keeping track of the decentralized environment. Therefore, there is an increasing demand for a single platform that can provide the full range of contextual intelligence by supporting highly flexible architecture to integrate with streaming data sources and output channels. Organizations look upon a visual interface to streamline development and act in a relevant and precise manner.

Software segment to account for a larger market size during the forecast period

The streaming analytics market, based on components, covers software and services. The software creates opportunities for organizations to better engage with their customers and clients. It further enables enterprises to identify the target audience and their preferences and choices, as well as learn about customer experience. The streaming analytics software provides enhanced functionalities, such as monitoring, customer profiling, campaign management, and demographic analysis, to improve the current policies for customer/client engagement.

Moreover, streaming analytics software helps to enhance the customer experience and business profitability. The bundled software is being deployed in retail stores, hotels, restaurants, and other crowded places with footfall analytics, customer engagement, customer experience management, customer behavior analytics, and loyalty management, among others. Furthermore, the advent of social streaming, which integrates real-time information from social media, is expected to help businesses deliver a seamless and personalized consumer experience via omnichannel sales approaches, to gain a competitive advantage.

Supply chain management to grow at the highest CAGR during the forecast period

The supply chain management segment covers big data analytics, a disruptive and essential technology. With growing interest from various supply chain organizations, the demand for streaming analytics is expected to increase in the coming years. Supply chain organizations can improve their response to unpredictable demands and reduce related end-to-end supply chain management issues.

Cost-savings in re-structuring supply chains is also one of the important use cases of streaming analytics technology. With the increasing need for resolving operations-related issues in real-time and the need for streamline operations across industries and vendors, the market will focus on the supply chain management segment.

Telecommunication and IT to account for the largest market size during the forecast period

Enterprises in the telecommunications and Information Technology (IT) industry have shifted their approach to a customer-centric one and are focused on offering feature-rich customized products at competitive subscriptions and pricing. There is a tremendous increase in consumer-generated data comprising digital documents, social media content, and other digital data, such as location and activity logs, on a large scale.

The telecommunication and IT industry leverage powerful cloud-based streaming analytics software and services to design enhanced marketing campaigns for customer acquisition and retention. Customer experience plays a vital role in the competitive business environment. It helps preserve customer loyalty and improves brand perception. Furthermore, the ever-changing customer preferences and the increasing smartphone and internet penetration are expected to accelerate in the coming years further.

North America to account for the largest market size during the forecast period

North America is expected to account for the largest market size during the forecast period. Organizations are gradually becoming customer-centric, thus leading to the higher adoption of streaming analytics software and services, and the increasing adoption of digital business strategies are the major factors that are expected to drive the adoption of streaming analytics in North America.

The streaming analytics market in North America is expected to grow steadily, as enterprises are adopting advanced analytics software and services at various levels as a part of their strategy to sustain in the market and achieve improved business functioning. Currently, Asia Pacific (APAC) is witnessing significant growth opportunities, owing to growing technology expenditures in major countries, such as Japan, China, and India, and the demand for cost-effective analytical software and services among Small and Medium-sized Enterprises (SMEs).

Key Market Players

The streaming analytics software and service vendors have implemented various types of organic as well as inorganic growth strategies, such as new product launches, product upgradations, partnerships and agreements, business expansions, and mergers and acquisitions, to strengthen their offerings in the market. The major vendors offering streaming analytics solutions are IBM (US), Oracle (US), Microsoft (US), SAP (Germany), Software AG (Germany), SAS Institute (US), Oracle (US), TIBCO Software (US), Impetus (US), Striim (US), WSO2 (US), INETCO (Canada), SQLStream (US), Axonize (Israel), EsperTech (US), Cloudera (US), Google (US), HPE (US), AWS (US), Intel (US), VMware (US), Mphasis (India), Altair (US), Adobe (US), Teradata (US), Vitria Technology (US), Conviva (US), IQLECT (India), and Iguazio (Israel).

The study includes an in-depth competitive analysis of these key players in the streaming analytics market with their company profiles, recent developments, and key market strategies.

Scope of the Report

Report Metric Details Market size available for years 2014�2025 Base year considered 2019 Forecast period 2020�2025 Forecast units USD Million Segments covered Component, deployment mode, organization size, application, industry vertical, and region Geographies covered North America, Europe, APAC, Latin America, and MEA Companies covered IBM (US), Oracle (US), Microsoft (US), SAP (Germany), Software AG (Germany), SAS Institute (US), Oracle (US), TIBCO Software (US), Impetus (US), Striim (US), WSO2 (US), INETCO (Canada), SQLStream (US), Axonize (Israel), EsperTech (US), Cloudera (US), Google (US), HPE (US), AWS (US), Intel (US), VMware (US), Mphasis (India), Altair (US), Adobe (US), Teradata (US), Vitria Technology (US), Conviva (US), IQLECT (India), and Iguazio (Israel)

This research report categorizes the streaming analytics market based on components, deployment modes, organization size, applications, verticals, and regions.

By component:

Software

Services Managed Services Professional Services Deployment and Integration Support and Maintenance



By deployment mode:

Cloud Public Cloud Private Cloud Hybrid Cloud

On-premises

By organization size:

Large Enterprises

Small and Medium-sized Enterprises (SMEs)

By application:

Fraud Detection

Sales and Marketing

Predictive Asset Management

Risk Management

Network Management and Optimization

Location Intelligence

Supply Chain Management

Others (Product Innovation and Customer Management)

By industry vertical:

BFSI

Telecommunication and IT

Retail and eCommerce

Healthcare and Life Sciences

Manufacturing

Government

Energy and Utilities

Transportation and Logistics

Media and Entertainment

Others (Travel and Hospitality, and Education)

By region:

North America US Canada

Europe UK Germany France Spain Rest of Europe

APAC China Japan India Singapore Rest of APAC

MEA Middle East Africa

Latin America Brazil Mexico



Recent Developments:

In April 2020, IBM released novel AI-powered technologies to help the health and research community accelerate the discovery of medical insights and treatments for COVID-19.

In March 2020, Microsoft partnered with Adaptive Biotechnologies to decode the COVID-19 immune response and provide open data access for researchers. The partnership aims at providing advanced solutions for diagnosing, treating, and preventing the virus, augmenting existing research efforts that primarily focus on the biology of the virus. This data will be made freely available to any researcher, public health official, or organization around the world via an open data access portal.

In September 2019, Oracle launched the general availability of Oracle Stream Analytics 19.1.0.0.0. The new features and components include specified window types functions, table chart, geofence tile, coherence reference with support to read Plain Old Java Object (POJO), and predictive model.

In April 2019, SAP announced enhancements to the SAP HANA database in the cloud and on-premises. The database would help everyone in providing instant access to critical data and extreme performance to democratize in-memory computing.

In October 2018, Oracle acquired Datafox, a US-based company, which specializes in AI technology. Datafox offers an AI-based engine, which locates and finds the latest information on the private and public business. This acquisition would help oracle strengthen its cloud applications.

In October 2018, Microsoft partnered with Qualcomm Technologies to create a vision AI software for developers that can be used in areas such as retail, manufacturing, logistics, and smart home. The kit is a camera-based device that integrates IoT, edge, and AI from Microsoft with Qualcomm Vision Intelligence 300 Platform and Qualcomm Neural Processing SDK for on-device edge computing.

Frequently Asked Questions (FAQ):

What is streaming analytics? Streaming analytics is a set of advanced analytical tools that collects, integrates, analyzes, and visualizes real-time business events and high-volume dynamic live data from various live sources, such as sensors, clickstreams, Radio-Frequency Identification (RFID), Global Positioning System (GPS), social networking sites, and mobile devices, in any data format, to detect and react automatically on urgent business situations in real-time. Streaming analytics is about understanding and reacting to anything that is happening in the business right now. It helps companies cut inevitable losses, gain operational insights, and grab new opportunities. Who are the top vendors in the streaming analytics market? The major vendors operating in the streaming analytics market include IBM, Software AG, Microsoft, SAP, and Oracle. These vendors have adopted different types of organic and inorganic growth strategies such as new product launches, product enhancements, partnerships, and mergers and acquisitions. Which countries are considered in the European region? The report includes an analysis of the UK, Germany, France, and Spain in the European region. What are the major applications of streaming analytics? Significant applications of streaming analytics include location intelligence, sales and marketing, risk management, and supply chain management. Does this report include the impact of COVID-19 on the streaming analytics market? Yes, the report includes the impact of COVID-19 on the streaming analytics market. It illustrates the pre- and post- COVID-19 market scenario.

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