Streaming Analytics Market is expected to grow at a CAGR of 33.05%
Enhanced Customer Experience and Operational Efficiency and
Cost Savings are factors driving the Global Streaming Analytics Market in the forecast period 2025-2029.
According to TechSci Research report, “Streaming Analytics Market -
Global Industry Size, Share, Trends, Opportunity, and Forecast 2019-2029”, the Global Streaming Analytics Market is poised for substantial growth in the forecast period. The rise of digitization has led to a significant increase in data generation and transformed how data is utilized. Cloud technology plays a crucial role as a catalyst in driving digital transformation forward. Streaming analytics offers enhanced flexibility by enabling real-time synchronization across both cloud-based and on-premise environments, surpassing traditional data processing methods.
The proliferation of Industry 4.0 practices across various sectors has contributed to the generation of vast amounts of data, further driving the adoption of real-time analytics solutions. Many multinational corporations are collaborating with governments to bolster the growth of public and hybrid cloud markets. They leverage real-time data streaming tools to deliver practical solutions for societal challenges. For example, Alibaba Cloud, in partnership with the Malaysia Digital Economy Corporation, has introduced the Malaysia Tianchi Big Data Program—a platform that fosters collaboration among data experts to develop solutions for real-world problems.
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Based on End User, The Retail segment asserted its dominance in 2023, driven by the increasing utilization of video data for various purposes such as loss prevention and theft analysis. Real-time Streaming Analytics plays a pivotal role in extracting valuable insights from these videos, thereby enhancing store operations and elevating the customer experience. Furthermore, the global retail industry is prioritizing the deployment of innovative solutions to enhance security measures and customer satisfaction. Facial recognition technology is gaining traction within the sector, with applications ranging from personalized advertising to demographic analysis and customer counting.
According to Zenith, global advertising spending has been steadily increasing, reaching USD 722.84 million last year, and is projected to surpass USD 885 billion by the end of 2024. A significant portion of this expenditure is directed towards gaining consumer insights to effectively target specific consumer segments. Streaming Analytics presents a significant opportunity in this regard, offering capabilities such as heat mapping, customer service enhancement, and reduction of retail shrinkage. The potential for growth in this space is substantial, highlighting the promising prospects for the technology's advancement within the retail industry.
Based on Region, Asia Pacific is poised to maintain its dominance in the streaming analytics market throughout the forecast period, driven by the region's rapid adoption of digital technologies among both consumers and businesses.
Key players in the streaming analytics market within the Asia Pacific region are directing their focus towards technology advancements and research and development initiatives to enhance their existing technologies. These efforts are contributing significantly to the market's growth in the region. The increasing awareness of streaming analytics solutions among Small and Medium Enterprises (SMEs), which play a substantial role in the region's economic growth, is further fueling demand. With SMEs contributing significantly to the GDP across many Asia-Pacific Economic Cooperation (APEC) members, there is a growing need for data analytics solutions in this segment. Asia is emerging as a global hub for digital technology, driven by factors such as high internet penetration rates, particularly in Southeast Asia, and rising consumer purchasing power. To capitalize on the opportunities presented in the Asia-Pacific region, numerous foreign players are partnering with local counterparts. For example, Intel and Lenovo have collaborated to develop a real-time streaming architecture tailored specifically for the financial services industry. This solution utilizes machine learning to transform raw data into actionable business insights, facilitating faster fraud detection processes.
Key market players in the Global Streaming
Analytics Market are: -
- Cisco
Systems Inc.
- Identiv
Inc.
- Aventura
Technologies Inc.
- Genetec
Inc.
- Honeywell
International Inc.
- Agent
Video Intelligence Ltd
- Objectvideo
Labs LLC
- Qognify
Limited
- NEC
Corporation
- Herta
Security SL
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“The global streaming analytics market
is propelled by the escalating volume of big data from diverse sources such as
IoT devices, social media, and sensors. As organizations seek real-time
insights for enhanced decision-making, streaming analytics plays a pivotal role
in processing and analyzing this data. The proliferation of IoT further
accelerates market growth by necessitating immediate data processing
capabilities. Businesses leverage streaming analytics to improve operational
efficiency, reduce costs, and enhance customer experiences through personalized
services. Advancements in technology, including increased processing power and
storage capacities, contribute to the market's expansion. The imperative for
fraud detection, security, and regulatory compliance, particularly in finance
and healthcare, also fuels the adoption of streaming analytics solutions. Cloud
computing facilitates scalable and flexible deployments, while predictive
analytics capabilities enable organizations to anticipate trends and
opportunities. Overall, the streaming analytics market thrives on its ability
to empower businesses with real-time data insights, fostering agility and
competitiveness.” said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based global management consulting firm.
“Streaming Analytics Market - Global
Industry Size, Share, Trends, Opportunity, and Forecast Segmented by Type
(Software, Services), by End User (BFSI, Healthcare, Retail & Logistics,
Critical Infrastructure, Hospitality and Transportation, Defense and Security,
and Other), By Region, and By Competition 2019-2029” provides statistics & information on
market size, structure, and future market growth. The report intends to provide
cutting-edge market intelligence and help decision makers take sound investment
decisions. Besides the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in Global Streaming
Analytics Market.
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