FELTON, Calif., Nov. 18, 2020
FELTON, Calif., Nov. 18, 2020 /PRNewswire/ -- The global streaming analytics market size is anticipated to be USD 35,986.4 million in 2025, as per Million Insights. It is estimated that the market would witness 28.9% CAGR over the forecast duration. The demand for streaming analytics services has increased considerably in the past few years in both large- and small-scale companies. The demand is supplemented by the ability of streaming analytics services to provide deeper analytics on how consumers perceive the content. This helps companies in better decision making along with offering personalized services.
Increasing adoption of innovative technologies such as IoT, big data and sensors in industries such as media and entertainment, government, healthcare and manufacturing is expected to propel the market growth. In addition, increasing volume of data generated from mobile and internet banking solution services is projected to bolster the demand for streaming analytics services in financial services institutions.
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Apart from various end-user industries, streaming analytics services are increasingly working with government bodies in the development of smart cities solutions such as smart metering and intelligent traffic monitoring. With the increasing focus on digital transformation technologies in emerging countries, streaming analytics solutions are expected to gain traction in the next six years.
Despite various advantages of streaming analytics services, factors such as lack of skilled workforce, concern regarding data security and high initial cost are projected to restrain the streaming analytics market growth. Across the globe, government bodies are implementing stringent regulation regarding the security of personal data.
Further key findings from the report suggest:
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Million Insights has segmented the global streaming analytics market on the basis of component, deployment, application, end use and region:
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