Complex event processing (CEP) is primarily focused on managing data in motion by method of tracking, analyzing, and processing information as per the occurrence of certain events. The streams of information are collected, combined and analyzed to match the resulting pattern with defined behaviors.
The CEP market is projected to grow lucratively in the coming future owing to the Internet Revolution, Development in the field of Machine Learning and Data Analytics and rise in risk and complexity of the web. Lack of consistent results, Difficulties faced to generate a fool-proof system and event data management are the factors restraining the growth of CEP market. Automate business processes on rule-based algorithm, the need to reduce process complexity, and better integration with business program management are the growth opportunities for the Complex Event Processing market.
“Global Complex-Event Processing market is valued at USD 2.41 billion in 2018 and it is expected to reach more than USD 15.23 billion by 2025, likely to grow at a CAGR of 28.6 % during the forecast period”
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on-premise based deployment of CEP has the larger share than the cloud-based deployment of CEP but the latter deployment model is expected to surpass during the forecast period due to high adoption rate of cloud technologies. The Large enterprises and Small and medium enterprises (SMEs) are showing high interest in the cloud-based CEP applications due to its multiple advantages such as low operational expense, easy deployment, scalability, and easy collaboration.
The managed services segment is expected to have the largest market share and highest CAGR during the forecast period.The CEP applications are being increasingly adopted by companies and organizations in various industry verticals such as Banking, Financial Services and Insurance (BFSI); transportation and logistics; healthcare; IT and telecommunication; retail; energy and utilities; manufacturing; government; and aerospace and defense among others. BFSI is expected to dominate the CEP industry market, contributing the largest market share, during the forecast period.
North America commands the largest market share in global complex event processing (CEP) market, the reason being the growing adoption of CEP and increasing preferences of organizations to optimize work flow.The growing demand for IT infrastructure, financial services and others. Factors hampering the market growth for CEP tools include incursion of substitutes in the market with greater efficiency and productivity such as business rule engine, big data tools and other such essentials.
While Asia Pacific, which is anticipated to be the fastest growing market in global CEP market during the forecast period.As companies in the APAC region are turning toward CEP application providers to offer a high degree of services in terms of quality, performance, and capacity.The major factor for this rapid growth is increasing awareness among potential consumers for the need of implementation of CEP solutions which has enhanced the investments in this market in all the domains, as well as increasing technological innovations in the region.
The major players have launched new products and offerings to strengthen their product portfolio and to expand their offerings to new clients. These players adopted various strategies, such as new product developments, mergers, partnerships, collaborations, and business expansion to cater to the needs of the CEP market.
The key players in the Complex Event Processing market are IBM Corporation, SAP SE, Oracle Corporation, TIBCO Software Inc., SAS Insitute, Inc., Informatica Corporation, WSO2, Inc., Nastel Technologies, Inc., Red Hat, Inc., Software AG, and EsperTech, Inc.
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