The global complex event processing (CEP) market has been expected to reach $6000 million by 2022 growing at 33.8% CAGR during 2016-2022
Global complex event processing (CEP) market has been segmented into application, deployment model, service type, and user type, type of vertical and regional outlook. In application segment, market is divided into electronic transaction monitoring, algorithmic trading, dynamic pre trade analytics, data enrichment, fraud detection, governance, risk and asset management, compliances and predictive scheduling, geo fencing and geospatial analysis and others.
In deployment model, market is segmented into on premises and cloud. In service type segment, market is divided into consulting, installation and maintenance, training and support and managed services. In user type segment, market is divided into small and medium enterprise (SME) and large enterprise. In type of vertical segment, market is divided into academia and education, banking, financial services and insurance (BFSI), consumer goods and retail, energy and power, government, aerospace and defense, life science and healthcare, manufacturing, IT and telecom, transportation and logistics and others.
Government, defense and aerospace dominates the vertical segment majorly due to cost effectiveness and responsive operational technology which can be unified without disrupting traditional legacy system. Hence, even though the adoption of the CEP technology is majorly seen in banking, financial services and insurance (BFSI) vertical also. Other verticals have been expected to boost during the forecasted period.