According to a new report, published by KBV research, The Global Streaming Analytics Market size is expected to reach $161.1 billion by 2031, rising at a market growth of 28.0% CAGR during the forecast period.
The Hosted segment is leading the Global Streaming Analytics Market by Deployment in 2023, thereby, achieving a market value of $81.4 billion by 2031. This substantial share can be attributed to the increasing preference for cloud-based solutions due to their scalability, flexibility, and cost-effectiveness. Hosted streaming analytics platforms enable businesses to process and analyze real-time data streams without extensive on-site infrastructure, reducing the total cost of ownership and allowing for faster deployment. Additionally, the ability to integrate seamlessly with other cloud services and tools makes hosted solutions highly attractive for organizations looking to leverage big data analytics for real-time decision-making and operational efficiency.
The IT & Telecom segment is anticipating a CAGR of 26.6% during (2024 - 2031). The demand for streaming analytics in this sector is driven by the need to manage and optimize network performance, enhance customer experience, and support deploying advanced technologies like 5G. Telecom companies use streaming analytics to monitor network traffic, identify and resolve issues in real time, and offer personalized services to customers based on their usage patterns. Additionally, IT firms utilize streaming analytics for system monitoring and threat detection to ensure the smooth operation of cloud services and data centers.
The Software segment is generating the maximum revenue in the Global Streaming Analytics Market by Component in 2023, thereby, achieving a market value of $99.2 billion by 2031. This dominance can be attributed to the critical role that streaming analytics software plays in enabling real-time data processing and analysis. These software solutions are designed to efficiently handle large volumes of data streams, providing businesses with timely insights crucial for making informed decisions. The growing adoption of big data technologies, the proliferation of IoT devices, and the increasing need for real-time analytics in various industries such as finance, healthcare, retail, and telecommunications have significantly contributed to the high revenue share of the software segment.
The Marketing & Sales market is expected to witness a CAGR of 27.5% during (2024 - 2031). Companies increasingly leverage streaming analytics to gain insights into customer behavior, preferences, and engagement in real time, allowing them to tailor their marketing strategies and optimize sales processes. By analyzing data from various sources such as social media, online transactions, and customer interactions, businesses can enhance customer experiences, improve conversion rates, and drive revenue growth.
Full Report: https://www.kbvresearch.com/streaming-analytics-market/
The North America region dominated the Global Streaming Analytics Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $56,355.9 million by 2031, growing at a CAGR of 27.1 % during the forecast period. The Europe region is experiencing a CAGR of 27.6% during (2024 - 2031). Additionally, The Asia Pacific region would showcase a CAGR of 29% during (2024 - 2031).
By Deployment
By Component
By End Use
By Application
By Geography
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