Streaming Analytics Market Nears $13.70Bn in Value

A new market research report, "Streaming Analytics Market”, published by MarketsandMarkets shows that the streaming analytics market is estimated to grow from USD 3.08 Billion in 2016 to USD 13.70 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 34.8%.

The report also encompasses different strategies, such as mergers & acquisitions, partnerships & collaborations, and product developments, adopted by major players to increase their share in the market.

The major forces driving the streaming analytics market are the emergence of Internet of Things (IoT) enabled technologies, increasing focus on competitive insights, increasing business agility and scalability, and increase in forecast accuracy. The streaming analytics market is growing rapidly because of the transformation from traditional BI techniques to advanced analytics techniques and massive surge of flowing structured and unstructured data.

Operations management application is expected to grow at the highest CAGR

Streaming analytics solutions are used for various applications such as fraud detection, sales & marketing management, predictive asset maintenance, risk management, network management & optimization, location intelligence, operations management, and others.

Operations management is expected to witness the highest CAGR during the forecast period among all applications because of increasing need for resolving operations related issues in real-time and the need for streamline operations across industries.

Telecommunication and IT vertical to have the largest market size in 2016

The streaming analytics market is also segmented by various industry verticals, out of which the adoption of streaming analytics is expected to be the largest in the telecommunication and IT vertical as the demand for electronics devices, including smartphones, and computer systems, is increasing day by day.