The research study for the streaming analytics market involved extensive secondary sources, directories, and several journals. Primary sources were mainly industry experts from the core and related industries, preferred streaming analytics software providers, third-party service providers, consulting service providers, end users, and other commercial enterprises. In-depth interviews with primary respondents, including key industry participants and subject matter experts, were conducted to obtain and verify critical qualitative and quantitative information and assess the market’s prospects.
Secondary Research
The market size of companies offering streaming analytics software and services was determined based on secondary data from paid and unpaid sources. It was also arrived at by analyzing the product portfolios of major companies and rating the companies based on their performance and quality.
In the secondary research process, various sources were referred to for identifying and collecting information for this study. Secondary sources included annual reports, press releases, and investor presentations of companies; white papers, journals, and certified publications; and articles from recognized authors, directories, and databases. The data was also collected from other secondary sources, such as journals, government websites, blogs, and vendor websites. Additionally, streaming analytics spending of various countries was extracted from the respective sources. Secondary research was mainly used to obtain key information related to the industry’s value chain and supply chain to identify key players based on software, services, market classification, and segmentation according to offerings of major players, industry trends related to offerings, applications, vertical, and region, and key developments from both market- and technology-oriented perspectives.
Primary Research
In the primary research process, various primary sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information on the market. The primary sources from the supply side included various industry experts, including Chief Experience Officers (CXOs); Vice Presidents (VPs); directors from business development, marketing, and streaming analytics expertise; related key executives from streaming analytics software vendors, System Integrators (SIs), professional service providers, and industry associations; and key opinion leaders.
Primary interviews were conducted to gather insights, such as market statistics, revenue data collected from software and services, market breakups, market size estimations, market forecasts, and data triangulation. Primary research also helped understand various trends related to technologies, applications, deployments, and regions. Stakeholders from the demand side, such as Chief Information Officers (CIOs), Chief Technology Officers (CTOs), Chief Strategy Officers (CSOs), and end users using streaming analytics, were interviewed to understand the buyer’s perspective on suppliers, products, service providers, and their current usage of streaming analytics software and services which would impact the overall streaming analytics market.
The following is the breakup of primary profiles:
Market Size Estimation
Multiple approaches were adopted for estimating and forecasting the streaming analytics market. The first approach estimates market size by summating companies’ revenue generated by selling software and services.
Market Size Estimation Methodology-Top-down approach
In the top-down approach, an exhaustive list of all the vendors offering software and services in the streaming analytics market was prepared. The revenue contribution of the market vendors was estimated through annual reports, press releases, funding, investor presentations, paid databases, and primary interviews. Each vendor’s offerings were evaluated based on the breadth of offering, application, vertical, and region. The aggregate of all the companies’ revenue was extrapolated to reach the overall market size. Each subsegment was studied and analyzed for its global market size and regional penetration. The markets were triangulated through both primary and secondary research. The primary procedure included extensive interviews for key insights from industry leaders, such as CIOs, CEOs, VPs, directors, and marketing executives. The market numbers were further triangulated with the existing MarketsandMarkets repository for validation.
Market Size Estimation Methodology-Bottom-up approach
The bottom-up approach identified the adoption rate of streaming analytics offerings among different end users in key countries, with their regions contributing the most to the market share. For cross-validation, the adoption of streaming analytics software and services among industries, along with different use cases concerning their regions, was identified and extrapolated. Use cases identified in the different areas were given weightage for the market size calculation.
Based on the market numbers, the regional split was determined by primary and secondary sources. The procedure included the analysis of the streaming analytics market’s regional penetration. Based on secondary research, the regional spending on Information and Communications Technology (ICT), socio-economic analysis of each country, strategic vendor analysis of major streaming analytics software providers, and organic and inorganic business development activities of regional and global players were estimated. With the data triangulation procedure and data validation through primaries, the exact values of the overall streaming analytics market size and segments’ size were determined and confirmed using the study.
Top-down and Bottom-up approaches
Data Triangulation
The market was split into several segments and subsegments after arriving at the overall market size using the market size estimation processes as explained above. To complete the overall market engineering process and arrive at the exact statistics of each market segment and subsegment, data triangulation and market breakup procedures were employed, wherever applicable. The overall market size was then used in the top-down procedure to estimate the size of other individual markets via percentage splits of the market segmentation.
Market Definition
According to SoftwareAG, Streaming analytics involves the continuous processing and analysis of live, rapidly moving data from diverse sources, such as Internet of Things (IoT) devices, to generate alerts and automate actions. By analyzing data in real time, it reduces the need for long-term data storage. This approach is crucial for enterprises seeking to derive immediate insights from large and continuously growing volumes of data. As data streams increase, streaming analytics allows businesses to analyze and integrate information in real-time from IoT gateways, sensors, MES, and ERP systems, among other sources.
MarketsandMarkets defines streaming analytics as the real-time processing and analysis of continuous data streams from various sources such as IoT devices, social media, and transactional systems. Streaming analytics allows for instant insights and quick responses to constantly changing data, in contrast to the slow processing and large data sizes of traditional batch processing. This technique is essential in different sectors requiring rapid responses, as making timely decisions is crucial. Through the utilization of streaming analytics, businesses can identify trends, transmit alerts, and optimize processes, resulting in improved effectiveness and timely adaptation to dynamic circumstances in real-time environments.
Stakeholders
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Streaming analytics software developers
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Streaming analytics service vendors
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Cloud service providers
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Consulting service providers
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Enterprise end users
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Distributors and Value-added Resellers (VARs)
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Government agencies
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Independent Software Vendors (ISV)
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Managed service providers
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System Integrators (SIs)/migration service providers
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Technology providers
Report Objectives
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To define, describe, and predict the streaming analytics market by Offering, Application, Processing Type, Data Type, Vertical, and Region.
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To describe and forecast the streaming analytics market, in terms of value, by region—North America, Europe, Asia Pacific, Middle East & Africa, and Latin America
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To provide detailed information regarding major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
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To strategically analyze micro markets with respect to individual growth trends, prospects, and contributions to the overall streaming analytics market
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To profile key players and comprehensively analyze their market positions in terms of ranking and core competencies, along with detailing the competitive landscape for market leaders
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To analyze competitive developments such as joint ventures, mergers and acquisitions, product developments, and ongoing research and development (R&D) in the streaming analytics market
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To provide the illustrative segmentation, analysis, and projection of the main regional markets
Available Customizations
With the given market data, MarketsandMarkets offers customizations per the company’s specific needs. The following customization options are available for the report:
Product Analysis
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The product matrix provides a detailed comparison of the product portfolio of each company.
Geographic Analysis as per Feasibility
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Further breakup of the North American streaming analytics market
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Further breakup of the European streaming analytics market
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Further breakup of the Asia Pacific streaming analytics market
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Further breakup of the Middle East & Africa streaming analytics market
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Further breakup of the Latin America streaming analytics market
Company Information
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Detailed analysis and profiling of additional market players (up to five)
Growth opportunities and latent adjacency in Streaming Analytics Market