Highlights:
- The majority (93%) of respondents in a new study said they use multi-platform data streaming architectures.
- Almost 8-in-10 (77%) use more data streaming platforms than they did two years ago.
- A small proportion (16%) have consolidated their data streaming platforms down to one, while 7% use fewer data streaming platforms than they did in 2023.
Data streaming adoption is accelerating, but so too are the complexities and fragmentation that emerge as organizations adopt more platforms. This is one finding from a new research report by Conduktor, the intelligent data hub for streaming data and AI.
Data streaming enables organizations to improve their operations and customer service by achieving faster decision-making, serving as a data backbone to connect diverse systems, and running more effective developer teams.
In addition to supporting operational processes, streaming is rapidly becoming foundational to the success of organizations’ artificial intelligence (AI) strategies. But most organizations still lack the governance, quality, and observability to make it all work together seamlessly.
Conduktor commissioned research with 200 senior IT and data executives at large companies with an annual revenue of $50 million or more, and found that the majority (93%) of respondents said they use multi-platform data streaming architectures, while almost 8-in-10 (77%) use more data streaming platforms than they did two years ago.
The evolution of data streaming platforms
When asked how their organization’s use of data streaming platforms evolved in the last 24 months, a small proportion (16%) said they have consolidated their data streaming platforms down to one, while 7% use fewer data streaming platforms than they did two years ago.
Nicolas Orban, CEO of Conduktor, said: “Although most respondents report a greater use of data streaming (especially for powering AI with real-time operational data), the unchecked spread of data streaming platforms can create problems for organizations. This forces companies to consolidate platforms to reduce architectural complexity, lower costs, and simplify governance.
“To truly realize the return on investment (ROI) from their streaming investments, organizations need to take governance, performance, and security seriously from the beginning; they need to build their streaming data platform with these factors in mind.”
According to Dataintelo, the global market size for streaming data processing system software was valued at approximately USD 9.5 billion in 2023 and is projected to reach around USD 23.8 billion by 2032, reflecting a compound annual growth rate (CAGR) of 10.8% over the forecast period.
Dataintelo says that: “The surge in the need for real-time data processing capabilities, driven by the exponential growth of data from various sources such as social media, IoT devices, and enterprise data systems, is a significant growth factor for this market.”
Learn more about Conduktor’s streaming data hub here: https://conduktor.io/
