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.
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.
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.
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.
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.
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||By Component, By Deployment Mode|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||IBM Corporation (US), Microsoft Corporation (US), Oracle Corporation (US), Google LLC (US), SAS Institute (US), SAP SE (Germany), Salesforce.com, inc. (US), Software AG (Germany), Informatica LLC (US), TIBCO Software Inc. (US), Hitachi Vantara Corporation (US), SQLstream, Inc. (US), FICO (US), Striim, Inc. (US), and Streamlio, Inc. (US).|
|Key Market Opportunities||The increasing number of banking enterprises and growing telecom sector in the region are the key driving factors for the growth of event stream processing market in the region.|
|Key Market Drivers||Event stream processing is an enterprise software tool that helps in building event-driven IT systems. It processes a stream of data, detects meaningful pattern in them, and build relationships among them.|
Frequently Asked Questions (FAQ) :
During the review period, the growth rate of the global market can be 21%, says MRFR.
In 2018, the market size was USD 612.7 million, while its size by 2023 is likely to be USD 4,156 million.
The top players in the market that have been highlighted in the report include FICO (US), Streamlio, Inc. (US), Salesforce.com, inc. (US), Hitachi Vantara Corporation (US), Google LLC (US), Oracle Corporation (US), Microsoft Corporation (US), IBM Corporation (US), Software AG (Germany), Informatica LLC (US), TIBCO Software Inc. (US), SQLstream, Inc. (US), Striim, Inc. (US), SAS Institute (US), IBM Corporation (US), SAP SE (Germany), to name a few.
New product launch, product innovation and partnership are the significant marketing hacks adopted by the players to achieve a better position.
APAC is most likely to attain the fastest CAGR in the near future.