Research Nester released a report titled “Streaming Analytics Market: Global Demand Analysis & Opportunity Outlook 2027” which delivers detailed overview of the global streaming analytics market in terms of market segmentation by component, by application, by deployment, by organization size, by vertical and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
The streaming analytics market is anticipated to grow at a significantly high CAGR of 35.6% during the forecast period of 2019-2027. This growth can be attributed to the increasing demand for real time data analysis in order to improve the time taken for decision making.
The market is segmented by component, by application, by deployment, by organization size, by vertical and by region. On the basis of deployment, the market is further bifurcated into cloud and on-premise, out of which, the cloud segment is estimated to lead the market growth on account of the ability to analyze big data in shorter period of time.This system provides the company with information on consumer experience as well as signals in case of data loss.
The increased usage of cloud based technology by several end user industries such as healthcare, telecommunication, IT, BFSI, education, retail and others is a major factor boosting the demand for streaming analytics solutions and thereby increasing the growth of the market. The cost effectiveness, fraud detection and ease of handling of these solutions are additional factors supporting the expansion of this market.
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The highest market share of streaming analytics is anticipated to be held by the region of North America. The rising requirement for the big data analysis and shift of major industries towards the adoption of internet of things (IoT) resulting in a higher demand for streaming analytics solutions is the major factor resulting in growth of the market in this region. The market in Asia-Pacific region is estimated to grow at a highest rate attributing to the expansion of small and medium sectors of various industries.
However, the security issues related to data forms a major restraint for the streaming analytics market. The frequent cyber-attacks on the cloud-based servers, where all the data is stored, further would slow down the growth of this market.
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