Global Event Stream Processing Market 2018-2019 & 2023 - Increasing Demand for IoT and Smart Devices to Drive the Adoption of ESP Solutions
DUBLIN, Feb. 20, 2019 /PRNewswire/ -- The "Event Stream Processing Market by Application (Fraud Detection, Predictive Maintenance, Algorithmic Trading, and Network Monitoring), Component, Deployment Mode, Type (Data Integration and Analytics), Vertical, and Region - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
The Global Event Stream Processing (ESP) Market Size to Grow From USD 690 Million in 2018 to USD 1,838 Million By 2023, at a CAGR of 21.6%
The major growth factors expected to drive the growth of the ESP market include the increasing demand for Internet of Things (IoT) and smart devices to drive the adoption of ESP solutions and the growing focus on analyzing a huge amount of data from multiple sources to gain real-time insights. The lack of integration with the legacy architecture and intensifying market competition are expected to restrain the adoption of ESP solutions in the emerging economies, which, in turn, may restrain the market growth.
Predictive maintenance segment is estimated to grow at the highest CAGR during the forecast period
The ESP market by application has been segmented into fraud detection, predictive maintenance, algorithmic trading, network monitoring, sales and marketing management, and others (location intelligence, operations management, and smart grid stabilization). The predictive maintenance segment is expected to grow at the highest CAGR, as it is extensively used in retail; Banking, Finanacial Services and Insurance (BFSI); manufacturing; energy and utilities; Information Technology (IT) and telecommunication; and transportation verticals.
Cloud segment to grow at a higher rate during the forecast period
Based on the deployment mode, the ESP market is segmented into cloud and on-premises. The cloud segment is expected to grow at a higher rate during the forecast period, due to its benefits, such as low-cost implementation, security, flexibility, mobility, loss prevention, disaster recovery, and sustainability.
Asia Pacific is expected to grow at the highest CAGR during the forecast period
APAC has distinctively been one of the fastest-growing regions in terms of rapidly adopting ESP solutions. The ESP market is also termed as the next big boom with regards to the ever-increasing adoption across APAC. The ESP market in APAC has gained traction, due to the developing economy and increasing connected devices and digitalization. Moreover, the rapid growth of the ESP market in the region can be attributed to the active online engagement of consumers in the emerging countries of the region. The extensive facilities to deploy and manage ESP solutions at a low-cost of ownership is boosting the market growth in this region.
Furthermore, various international and domestic enterprises located in this region are partnering with ESP providers to enhance and provide tailormade offerings to local clients. The developed APAC countries, such as China, India, and Japan, have expansively considered the use of ESP solutions and services. The growth of this region can be attributed to the increased demand for ESP solutions and advancements in digital technologies, such as IoT, Artificial Intelligence (AI), and Machine Learning (ML), which is benefitting all stakeholders present in the ESP ecosystem in APAC.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Event Stream Processing Market
4.2 Top 4 Applications
4.3 Top 3 Applications and Regions
4.4 Market Potential, By Vertical
5 Market Overview and Industry Trends
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for IoT and Smart Devices to Drive the Adoption of ESP Solutions
5.2.1.2 Growing Focus on Analyzing Large Volumes of Data From Multiple Sources to Gain Real-Time Insights
5.2.2 Restraints
5.2.2.1 Lack of Integration With the Legacy Architecture
5.2.2.2 Intensifying Market Competition
5.2.3 Opportunities
5.2.3.1 Growing Adoption of Cloud Solutions
5.2.4 Challenges
5.2.4.1 Data Security and Privacy Concerns
5.2.4.2 Lack of Skilled Personnel
5.3 Regulatory Implications
5.3.1 Introduction
5.3.2 General Data Protection Regulation
5.3.3 Health Insurance Portability and Accountability Act
5.3.4 Payment Card Industry Data Security Standard
5.3.5 SOC 2 Type II Compliance
5.3.6 ISO/IEC 27001
5.3.7 The Gramm-Leach-Bliley Act
5.4 Use Cases
5.4.1 Introduction
6 Event Stream Processing Market, By Application
6.1 Introduction
6.2 Fraud Detection
6.2.1 Need for Reducing Operational Risks and Financial Losses to Increase Adoption of Fraud Detection Application
6.3 Predictive Maintenance
6.3.1 Demand for Higher Asset Utilization and Reliability to Accelerate Adoption of Predictive Maintenance Application
6.4 Algorithmic Trading
6.4.1 Fast and Reliable Processing of Trade Requests to Boost Growth of Algorithmic Trading Application
6.5 Network Monitoring
6.5.1 Need for Reducing Cost Associated With Network Failures and Outages to Create Opportunities for ESP Solution Providers
6.6 Sales and Marketing
6.6.1 Huge Data Generated From Marketing and Retail Activities to Create Opportunities for Sales and Marketing Application Providers
6.7 Others
7 Market, By Component
7.1 Introduction
7.2 Solutions
7.2.1 Software Tools
7.2.1.1 Software Tools Enable Easy Integration of Event Stream Processing Capabilities With Developers' Applications
7.2.2 Platforms
7.2.2.1 ESP Platforms Offer A Complete Infrastructure to Enterprises for Processing Millions of Events in A Minimal Time
7.3 Services
7.3.1 Professional Services
7.3.1.1 Consulting Services to Assist Organizations in Implementing ESP Solutions
7.3.2 Managed Services
7.3.2.1 Managed Services to Gain Traction in Coming Years
8 Market, By Deployment Mode
8.1 Introduction
8.2 Cloud
8.2.1 Cloud Benefits to Boost the Growth of Cloud Deployment Mode
8.3 On-Premises
8.3.1 Data-Sensitive Organizations to Continue to Adopt On-Premises Deployment Mode
9 Event Stream Processing Market, By Type
9.1 Introduction
9.2 Data Integration
9.2.1 Demand for Data-Driven Decisions to Accelerate the Growth of ESP Solutions
9.3 Analytics
9.3.1 Analytics Solutions to Assist Enterprises Unleash the Value of Streaming Data
10 Market, By Vertical
10.1 Introduction
10.2 Banking, Financial Services, and Insurance
10.2.1 Banking, Financial Services, and Insurance Vertical to Be the Largest Adopter of ESP Solutions
10.3 It and Telecommunications
10.3.1 Telecommunications Vertical to Deploy ESP Solutions for Optimizing Network Performance, Detecting Frauds, and Boosting Network Functioning
10.4 Retail and Ecommerce
10.4.1 Increasing Digital Transformation to Drive the Adoption of ESP Solutions in Retail Vertical
10.5 Manufacturing
10.5.1 Increasing Focus of Manufacturers Toward Enhancement of Asset Life to Boost the Adoption of ESP Solutions in Manufacturing Vertical
10.6 Energy and Utilities
10.6.1 Increasing Focus on Reducing Equipment Failures to Help Grow Adoption of ESP Solutions
10.7 Transportation and Logistics
10.7.1 Transportation and Logistics Vertical to Grow at the Highest CAGR During the Forecast Period
10.8 Others
11 Event Stream Processing Market, By Region
12 Competitive Landscape
12.1 Overview
12.2 Ranking of Key Players
12.3 Competitive Scenario
12.3.1 New Product Launches and Product Enhancements
12.3.2 Partnerships and Collaborations
12.3.3 Mergers and Acquisitions
12.3.4 Expansions
13 Company Profiles
- AWS
- Confluent
- Dataartisans
- Databricks
- ESPertech
- EVAM
- Equalum
- Fico
- Hitachi Vantara
- IBM
- Informatica
- Microsoft
- Oracle
- Radicalbit
- Red Hat
- SAP
- SAS Institute
- Salesforce
- Software AG
- Sqlstream
- Streamanalytix
- Streamlio
- Striim
- Tibco
For more information about this report visit https://www.researchandmarkets.com/research/bsrh57/global_event?w=5
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