Complex Event Processing (CEP) Market by (Algorithmic Trading, Fraud Detection, Sentiment Analysis, Supply Chain Optimization, Transportation and Logistics, Revenue Assurance, & Emergency Response Services) - Global forecast to 2019

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Nov 26, 2014, 07:33 ET

LONDON, Nov. 26, 2014 /PRNewswire/ -- Over the past decade, we observe that CEP technologies are being continuously adopted in capital market for high performance trading (HFT) which has given an undeniable push to the CEP middleware software market. Traditional analytic tools require structure data sources to process and analyze the situation and gives strategic output. The process of analyzing huge historical data bases takes huge amount of time by which the chance to react for a potential risk may have already passed. Therefore, the need for high speed detection and alert mechanism created a high value proposition for the innovators to enhance and improvise event based technologies. Furthermore, Big Data phenomenon also creates a rising demand for a robust technology which can provide real-time access and analysis of unstructured data within various industries, such as capital market organizations, government agencies, manufacturing industry, transportation and logistics industry, telecommunication industry and healthcare.

CEP technologies have seen evolution over the last decade. Rule based, query based and status based CEP technologies have appeared in the market space to fulfill customers requirements. Organizations across the globe are spending to improvise CEP engines that comply with new regulatory standards, which will further help the growth of CEP market in the coming years. Therefore, usages of CEP rules can be customized based on the functionalities, response requirements and compliance regulations followed by the organization in that particular vertical. Moreover, recent mergers and acquisitions in CEP market space show that the influence of CEP technology over market leaders. Many emerging players are also entering into CEP market with their unique capabilities and innovative products. Some of these players are providing CEP technology over cloud which doesn't require any installation and is cost effective.

The major forces driving this market are the unprecedented market risks, easy to deploy, need for customer oriented analytical tools and Big Data trends. Furthermore, in verticals such as healthcare, banking and finance exponential raise in real time customer data and transaction information demands for event monitoring and fast response system to maintain organizational processes. Further, organizations in industries such as healthcare, telecommunication, banking and capital market; are mandate to follow compliance standards such as BASEL III, FISMA, HIPPA, etc. Thus, by using CEP technology, organization can monitor and predict compliance risks in advance which ensure smoothness of business processes and removes inconsistency.

Over the last decade, Complex Event Processing (CEP) technology has been evolving. There have been many live research projects, which are refining the technology to strengthen the base according to business processes and needs. For instance, Fujitsu is researching on distributed parallel complex event processing technology, partly supported by Japan's Ministry of Economy. There are also potential opportunities in areas of future outbreaks in handling big data and time-series data. In future, CEP systems will find application in energy saving and next generation security systems.

While the CEP market is expected to rise at a steady pace across various verticals, some of the organizations such as TIBCO, Oracle, IBM and many other companies are already providing CEP technology in their current integrated middleware software product portfolio. MarketsandMarkets expects that CEP technology will be integrated into cloud services in the long term, thereby creating customizable stack services and applications that facilitate quicker customer adoption of the same.

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