Complex Event Processing (CEP) Market Worth 4.95 Billion USD by 2020
PUNE, India, February 10, 2016 /PRNewswire/ --
According to a new market research report "Complex Event Processing Market by Application (Fraud detection, Algorithmic Trading, Dynamic pre-trade analytics), Service (Consulting, Installation and Maintenance), Deployment, Vertical, User type, Region - Global Forecast to 2020", published by MarketsandMarkets, the market is estimated to grow from USD 1.28 Billion in 2015 to USD 4.95 Billion by 2020, at an estimated compound annual growth rate (CAGR) of 31.1%.
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CEP applications allow integration of data from diverse sources such as an organization's internal sub-systems and web-based contents, perform analytics over the data, and respond accordingly in real-time. The rising demand for improved automation of business processes and their execution in compliance with business and government policies are the driving forces of the CEP market.
The biggest challenge for CEP is the diversified governmental regulations and policies present across domestic and international borders which continually are subjected to variation. The vendors in the CEP market are continuously innovating and remodeling their present architecture to develop more proficient and advanced applications.
Potential growth in demand for enterprise data
Modern enterprises are becoming more and more data oriented. They rely too much on their enterprise data for business decision making. Enterprises nowadays generate huge volume of data every day. Whether it is customer relationship management, transaction processing system, supply chain management or any other enterprise grade system, all generate mass volume of data. The growth of enterprise data is expected to rise massively in the coming years, increasing the demand for fast complex event processing tools. Moreover, IoT-based solutions where high volume of data gets generated every second will foster the adoption rate of complex event processing software in the upcoming years.
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The North America region is expected to contribute the maximum market share to the overall CEP market.
This market is in the growing stage in Asia-Pacific (APAC), Europe, Middle East and Africa (MEA), and Latin America, therefore CEP applications in these regions have immense scope for enhancement. Moreover, there is huge return on investment in the Complex Event Processing Market as opportunities for augmented performance are always increasing, hence CEP application vendors continue to visualize more effectively on the need for applications and services across all the regions.
CEP market has been segmented into applications, deployment models, service types, user types, industries, and regions. Applications of CEP include algorithmic trading; electronic transaction monitoring; dynamic pre-trade analytics; data enrichment; fraud detection; governance, risk and compliance; asset management and predictive scheduling; geo-fencing and geospatial analysis. Deployment models are segmented into cloud and on-premise. Service types are consulting; installation and maintenance; training and support; and managed service.
User types are segmented into Small and Medium Enterprises (SMEs), and large enterprises. Industries are further classified into Banking, Financial Services and Insurance (BFSI); transportation and logistics; healthcare; IT and telecommunication; retail; energy and utilities; manufacturing; government, and aerospace and defense; and others. Furthermore, the report classifies the market according to the regions of North America, Europe, APAC, MEA, and Latin America.
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