The demand for on-demand or cloud-based streaming analytics solutions is increasing due to the cost-effective and time-efficient features; its growth is specifically high in enterprises, where low cost solutions are much required.
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The report "Streaming Analytics Market by Type (Solution & Services), Applications (Fraud Detection, Sales & Marketing Management, Predictive Asset Maintenance, Risk Management, Network Management, Location Intelligence, & Operations Management), Vertical, Regions - Global Forecast to 2021", 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 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.
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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.
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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.
North America is expected to dominate the streaming analytics market during the forecast period
North America is expected to hold the largest share of the streaming analytics market in 2016 due to the technological advancements and early adoption of analytics in the region. The market in APAC is expected to grow at the highest CAGR between 2016 and 2021.
The primary driving forces for this growth are increasing technological adoption and huge opportunities across industry verticals in APAC countries, especially India, China, and Japan.
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. Some of the major technology vendors include SAS Institute (U.S.), Microsoft Corporation (U.S.), SAP SE (Germany), Oracle Corporation (U.S.), IBM Corporation (U.S.), Informatica Corporation (U.S.), Software AG (Germany), TIBCO Software (U.S.), Impetus Technologies (U.S.), and SQLStream (U.S.).
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