Complex event processing (CEP) is a real-time organisational tool that aids in the collection of massive amounts of data as well as the identification and evaluation of cause-and-effect relationships. CEP compares incoming events to a pattern and provides information about what's going on.
As the number of sensors and linked devices grows, so does the amount of data being saved. In the traditional DBMS method, assessing this data in real time is a hurdle. Because it works on the stored query rather than the stored data, Complex Event Processing (CEP) provides a solution to this problem.
The advantages of the CEP technique are distinct because CEP searches are performed on a theoretically unlimited stream of data. In addition, inputs are handled quickly. When the system has analysed all of the events for a matched sequence, the results are displayed immediately. This functionality allows CEP to perform real-time analytics.
Because of the internet revolution, the demand for real-time data analytics has grown dramatically in recent years. Companies are putting a lot of money into industrial automation, which is driving machine learning forward. In addition, various businesses, as well as Big Data, are making the web more complicated, driving up demand for complex event processors.
As a result of developing trends and technological developments, modern enterprises are becoming more data-driven, increasing the risk of security breaches. Because most businesses are data-driven, they rely on corporate data to make decisions, which results in large amounts of data being generated on a regular basis. As a result, most firms rely on data gathering, combining, and analytics technology to maintain and secure data.
The report also emphasizes several distinctiveness of the global complex event processing industry by valuing the market from value chain breakdown. Moreover, the report encompasses numerous qualitative features of the complex event processing industry which comprises market restraints, drivers, as well as key industry opportunities. Furthermore, the report offers an inclusive evaluation of the company profiling along with the market rivalry of local and global vendors.
The complex event processing market has tough competition among the new emerging and pre-established market vendors. Besides, the complex event processing industry vendors are trying to capture the prospective markets to grab a competitive advantage over the remaining industry vendors. To capture the market, market players are forming agreements, acquiring other companies & startups, mergers & acquisitions, partnerships & collaboration, and escalating their business existence.
The market is divided into consultation, installation and maintenance, training and support, and managed services, depending on the service type. The maintenance, installation, and repair pathway covers preventive maintenance activities for machinery, software, and equipment. This work include troubleshooting and repairing digital, electrical, electronic, and mechanical systems.
Asia-Pacific is predicted to grow at the highest rate in 2020, with a higher CAGR throughout the projection period. Developing countries' digitization programmes, such as India's, are driving digital payments, and banks are utilising blockchain technology. As a result of its simplicity of integration, CEP solutions are in increased demand.
Growth in Asia-Pacific is being fueled by government initiatives and multibillion-dollar technology partnerships in the banking sector. Other factors, such as SMEs' increasing demand for data storage and the increasing use of smartphones, laptops, and tablets in Asia-Pacific, have raised demand for machine learning applications in the region.
The major players of the global Complex event processing market are SAP SE, Oracle Corporation, Red Hat Inc., International Business Machines Corporation, Espertech, Inc., Tibco Software Inc., Software AG and Informatica Corporation. Renowned companies are offering new and modern Complex event processing software solutions. In addition, the previously recognized as well as new market players are approaching the market with advanced and new strategic services and solutions and to remain competitive in the global market.
Segment Overview of Global Complex Event Processing Market
Application Overview, 2019-2028 (USD Billion)
- Algorithmic Trading
- Electronic Transaction Monitoring
- Dynamic Pre-Trae Analytics
- Data Enrichment
- Fraud Detection
- Governance, Risk and Compliance
- Asset Management and Predictive Scheduling
- Geo-fencing and Geospatial analysis
Deployment Overview, 2019-2028 (USD Billion)
Service Type Overview, 2019-2028 (USD Billion)
- Installation and Maintenance
- Training and Support
- Managed Services
Regional Overview, 2019-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America