Event processing processes event data and bring it to proper conclusion. Complex event processing combines data from various sources of events that suggest complicated circumstances. This process is often used to identify meaningful events, which include detection of threats or opportunities. It gives better opportunity to respond to the as fast as possible. The global complex event processing (CEP) market is expected to grow at a healthy growth rate, thanks to increasing applications and strong rate of adoption. As a result, the existing businesses in the market are interested in business expansions and mergers and acquisitions across the different parts of the world. New investments in the industry are also attracting potential investors.
Drivers for CEP Market
The complex event processing technology has seen gradual evolution over the past few years. Changing customer requirements has a major role to play in this process. Growth in the number of organizations, the recent event of mergers also demonstrates the changing conditions in the industry. Presence of innovative products and unique capabilities in the complex event processing (CEP) market are creating better business opportunities for the existing businesses. Cloud technology has broadened the horizons of the applications segment of the industry. Technological advancements and demand from emerging market are also pushing the market to maintain healthy growth across the different parts of the world.
Segments and Forecasts
Researchers segment the global complex event processing (CEP) market on the basis of the types of technology and the types of professional services. They also segment the industry on the basis of the types of applications, deployment across various industrial verticals and geographic demand. On the basis of the types, the industry is segmented into orientation-based, detection-based and hybrid technologies. The types of professional services include installation and maintenance, consulting support, training and certification and such other services.
Applications of these technologies include algorithmic trading, dynamic analytics, transaction monitoring, asset management, predictive scheduling, risk and compliance, revenue assurance, network infrastructure monitoring, inventory optimization, real-time marketing, shoplifting assistance, operational failure detection, supply chain optimization, and so on. Industrial verticals with maximum applications of complex event processing include BFSI, telecommunications, transportation and logistics, defense and aerospace, retail and consumer goods, energy and utilities, and so on.
Geographic segments of the market include North America, Latin America, Middle East and Africa, Asia Pacific and Europe. According to the analysis of these segments, the global complex event processing (CEP) market is expected to grow at a CAGR of over 34% from 2013 to 2018. At this healthy compound annual growth rate, the market is expected to reach past $3,322.0 million in 2018. In 2013, the industry was worth $764 million. Fraud detection, algorithm trading, analysis and security intelligence are expected to be the strongest growth fields for the industry.