Overview
Using the event stream processing software tools, enterprises can gain valuable insights from the streaming data. Market Research Future (MRFR) has published a research report about the global event stream processing market that envisions aggrandizement for this market at 22.1% CAGR during the forecast period between 2019 and 2023. By value, the market has been figured to be worth the USD 1,663.0 MN by the end of the forecast period.
With the introduction of the internet of things (IoT), connected devices, and various sensors, a huge amount of data are generated every second. Heavy amount of data generation has created a great demand for event stream processing software tools that are meant to process and analyze this streaming data and trigger relevant action based on the event detected. Event stream processing is an enterprise software tool helps to build event-driven information technology (IT) systems. Processing a stream of data, it detects a meaningful pattern in them, and build relationships among them. Important factors contributing to the market growth include global adoption of event stream processing, technological advancement, growing IoT & machine learning adoption, and growing demand for fraud detection. However, the market growth can be restrained by high initial cost and lack of expertise, particularly among small and medium-sized enterprises (SMEs) in developing economies.
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Segments
The global event stream processing market segmentation has segmented the market into application, component, deployment mode, industry vertical, and region. As per the application-based segmentation, this market has been segmented into algorithmic trading, fraud detection, network monitoring, predictive maintenance, sales & marketing, and others. Based on the component, the market has been segmented into platform, services, and software. The service segment has been sub-segmented into professional and managed services.
Regarding deployment mode, the market is being segmented into on-premise deployment and on-cloud deployment. In the context of industry vertical, the market has been segmented into Banking, financial services and insurance (BFSI), energy & utilities, IT & telecom, manufacturing, retail & eCommerce, transportation & Logistics, and others.
The regional segmentation of the global event stream processing market segments the market into the regional markets, namely Asia Pacific, Europe, North America, South America, and the Middle East & Africa (MEA). Due to the fast adoption of innovative technologies and the presence of major vendors, North America is being presumed to hold the largest market share in the global market. The USA, Canada, and Mexico are the leading country-specific markets in this region.
Key Players
The key players in the global Event Stream Processing Market include FICO (USA), Google LLC (USA), Hitachi Vantara Corporation (USA), IBM Corporation (USA), Informatica LLC (USA), Microsoft Corporation (USA), Oracle Corporation (USA), Salesforce.com Inc. (USA), SAP SE (Germany), SAS Institute (USA), Software AG (Germany), SQLstream Inc. (USA), Streamlio Inc. (USA), Striim Inc. (USA), and TIBCO Software Inc. (USA).
Regional Analysis
During the forecast, the Asia Pacific region can emerge as the fastest growing regional market due to the increasing number of banking enterprises and growing telecom sector in China, India, and Japan, followed by the remaining countries in this region.
Due to the reasons the same as in North America, the market in Europe can grow significantly during the forecast period. The chief country-specific markets in this region are France, Germany, and the UK, followed by the remaining countries of Europe.
In South America, the market is not as big as it is in North America as South America lags in technological advancement. Most important economies that might become important country-specific markets in future are Argentina and Brazil. In the MEA region, the market is small due to the limited availability of technology.
Latest Industry News
Building an event processing system based on stream-processing software Apache Kafka, OVO plans to utilize it in its operations regarding the development of a zero-carbon smart energy grid. 6 JUNE 2019
Confluent Inc., the event streaming platform pioneer, has upgraded Confluent Cloud that now includes new cloud-native capabilities and fully managed services. 13 MAY 2019
LIST OF TABLES
Table 1 Global Event Stream Processing Market, By Region, 2019-2023
Table 2 North America Event Stream Processing Market, By Country, 2019-2023
Table 3 Europe Event Stream Processing Market, By Country, 2019-2023
Table 4 Asia-Pacific Event Stream Processing Market, By Country, 2019-2023
Table 5 Global Event Stream Processing Market, By Component, By Region, 2019-2023
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LIST OF FIGURES
FIGURE 1 Global Event Stream Processing Market: Segmentations
FIGURE 2 Forecast Methodology
FIGURE 3 Porter’s Five Forces Analysis Of Global Event Stream Processing Market
FIGURE 4 Value Chain Of Global Event Stream Processing Market
FIGURE 5 Share Of Global Event Stream Processing Market By Country, 2019
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