Event Stream Processing Market Research Report Information, By Component (Software, Platform and Services), By Deployment Mode (Cloud and On-premises), By Application (Fraud Detection, Predictive Maintenance, Algorithmic Trading) - Global Forecast till 2027

EVENT STREAM PROCESSING MARKET OVERVIEW

Globally it has been found that the event stream processing market covers a market value of about USD 1663 million and expands to about USD 4,156 million during the event stream processing market forecast period of about 2020 till 2027. It even occupies a CAGR value of 21% during the assessment period. The software tools extract valuable information from the streaming data. With the presence of IoT, certain connected services, some other sensors, a certain fixed amount of data are extracted every second. This has raised the event stream processing market demand is software tools where processing and streaming of data took place. This processing has triggered the information where detection of events has been taken place. It is a software-based tool that builds up IT-related systems. Processing of stream data takes place along with the detection of a meaningful pattern that has been observed. The software tool comprises an event capturing model, event database, and event stream processing language. Its application areas diversify to algorithm trading, detecting fraud, location-based services, and many more. It is widely used in some fields like innIT, BFSI, and telecom units. Globally, this software tool is widely expected to be the largest tool having benefits IT and BFSI. It covers a high CAGR value during the event stream processing market forecast period. Adoption of certain advanced technologies like IoT and adopting certain machine learning applications helps in adopting more event learning solutions.

COVID 19 ANALYSIS

The outburst of COVID has an influential impact on the whole of the market during the review period. This resulted in decreasing in business activity throughout various end-user verticals that the industry has owed. The outburst even resulted in many organizations setting aggressive cost-cutting effects and reducing the CAPEX which had a bad impact on the expansion of the event stream processing market size. COVID resulted in making the business embrace the innovative technology which provided an optimistic scenario and helped in rising the event stream processing market demand.

MARKET DYNAMICS

• Drivers- rise in demand for the internet of things along with the rising in demand for smart devices drives up the adoption of different solutions which will help in event stream processing market size. High growth in focus for analyzing different multiple sources helps in gaining large volumes of data. The setup of a large number of financial institutions and banks is constantly giving priority to unlocking insights to protecting the data so generated from various other transactions. The huge application in BFSI vertical field is beneficial and can be hugely used.


• Opportunities- the adoption of cloud-based technology has provided significant growth and had raised the demand. The presence of a large number of multinational companies had developed the revenue structure from this region contributing to event stream processing market demand.


• Challenges- the untrained professionals so working in the industry becomes the major challenging factor for growth. The outburst of COVID became a most challenging factor for the growth and development of the market.


• Restraints- increase in initial costs and presence of more experts in small and large scale enterprises helps in developing the economic condition of the event stream processing industry thus hampering the event stream processing market growth. Some of the concerns associated with data security and privacy hinder the event stream processing market growth.

MARKET SEGMENTATION

• By type- globally and regionally the event stream processing industry is being classified into the region, vertical segment, deployment model, application, component, and based on industry. Based on components, the industry is being divided into software, services, and platform. As per the service segment, the industry is being classified into professional and some managed segments. Based on deployment units, the industry is being divided into cloud and on-premise units. As per the application unit, the industry is being divided into predictive maintenance, trading of algorithm units, fraud detection, sales and marketing, monitoring, and many more. As per the industry vertical units, the market is being divided into manufacturing, BFSI, retail and e-commerce units, energy and some utilities, telecom and transportation, logistics, and many more. Regionally, the industry is being divided into the North American regions, European, Asia Pacific region, the Middle East, and the African region. It also includes the South American region. Moreover, the North American region is being classified into the United States, Canada, and Mexican regions. The European region includes the region of the United Kingdom, some regions of Germany and France. The Asia Pacific region includes the Chinese region, Japanese region, India, and dome regions of Asia Pacific. Based on the component units, the industry is being divided into integrated solutions and services. The solution segment occupies a large rise in event stream processing market size with a high CAGR growth value. The growth in vertical units covers a high growth in leveraging units. The service segment grows at a high pace during the foster period.


• By technology- the event stream technology is used at a large scale for capturing, analyzing, and responding to the various industry verticals. The adoption of temperature sensors across various segments during the event stream processing market forecast period has a positive effect on the market. The advancement of technology led to the increase in growth of various digital channels which triggered the transaction made through payment, withdrawing cash or trade, and many more. Online banking is becoming one of the most used choices for various banking purposes. The high growth in digitization had enabled financial inclusion by the developing financial state thus emerging as an attractive point for the key vendors.

REGIONAL ANALYSIS

Globally the market during the review period is marked to grow at an influential rate. Geographically from the event stream processing market analysis, it has been marked that the market extends to the regions of North America, Europe, South America, and some more regions there. North America is the most dominant region covering a large area of event stream processing market share. The regions of the United States, Canada, and Mexico are the leading regions. The presence of some of the key vendors makes these regions high advanced contributing to the improvement in event stream processing market growth. High adoption of innovative technology, makes the Asia Pacific the fastest-growing region. Globally this region contributes to the fastest-growing region due to the presence of a certain number of banking enterprises and a rise in telecom units. These are the key drivers contributing toward event stream processing market size.

COMPETITIVE LANDSCAPE

Some of the key players operating in the market are IBM Corporation of the United States, Microsoft Corporation of the United States, Steamlilo Inc. of the United States, Oracle Corporation of the United States, Salesforce .com Inc of the United States, Fico of the United States, SAS Institute of the United States, Striim IncGoogle LLC of the United States, and others. These players with a prominent market share are covering and expanding their customer base abroad by taking certain strategic initiatives which helped in increasing their event stream processing market share and their profitability. The market is going to expand exponentially in the upcoming years.

RECENT DEVELOPMENTS

• IBM in April 2017, in its partnership with Bluemix Openwhisk, carried out some of organic growth strategies to connect the programming language to outside data event stream data programming.


• In October 2018, IBM the large cloud provider in collaboration with Red Hat occupied a market value of about USD 34 billion.


• Microsoft in September 2018, developed Microsoft Quantum Development programs to enable quickly integrated solutions to carry out certain inorganic growth solutions. Microsoft in June 2016, made a partnership with EventZero and followed its new advanced technology. Microsoft improves its business software to create a more advanced user.


• SAS in collaboration with Trilliant, a smart energy corporation provided certain integrated solutions where they took the advantage of certain streaming analytics. Their acquisition made both the companies analyze certain abnormalities and their behavioral patterns where information about faulty installation, failures, and faults was noticed.

REPORT OVERVIEW

The report signifies the event stream processing market based on application, component, vertical, type, and many more. The report signifies the COVID impact has on the market. From the event stream processing market analysis it was noted that the report signified the limitation of technology that is being offered by the key vendors with the applications used in various end-user industries. The report gave detailed information contributing to different factors promoting the growth. It signifies various factors acting as a driving force and other restraining forces. The study focuses on various market trends including the internet of things and some of the smart devices that affect market growth. The report signified the trading activity carried out within a minute of execution.