The global complex event processing (CEP) market has been expected to reach $6000 million by 2022 growing at 33.8% CAGR during 2016-2022. Global complex event processing (CEP) market has been segmented into application, deployment model, service type, and user type, type of vertical and regional outlook. In application segment, market is divided into electronic transaction monitoring, algorithmic trading, dynamic pre trade analytics, data enrichment, fraud detection, governance, risk and asset management, compliances and predictive scheduling, geo fencing and geospatial analysis and others. In deployment model, market is segmented into on premises and cloud. In service type segment, market is divided into consulting, installation and maintenance, training and support and managed services. In user type segment, market is divided into small and medium enterprise (SME) and large enterprise. In type of vertical segment, market is divided into academia and education, banking, financial services and insurance (BFSI), consumer goods and retail, energy and power, government, aerospace and defense, life science and healthcare, manufacturing, IT and telecom, transportation and logistics and others. Government, defense and aerospace dominates the vertical segment majorly due to cost effectiveness and responsive operational technology which can be unified without disrupting traditional legacy system. Hence, even though the adoption of the CEP technology is majorly seen in banking, financial services and insurance (BFSI) vertical also. Other verticals have been expected to boost during the forecasted period.
In regional outlook, market is divided into North America, Europe, Asia Pacific and Rest of the world. North America holds the largest market share in global complex event processing (CEP) market. The major reason for high market share is owing to fast adoption of CEP in the region and increasing organization’s preference to optimize workflow. Europe holds the second largest market share followed by Asia Pacific. Asia Pacific has been anticipated to be the fastest growing region in the market during the forecasted period due to rising awareness among potential consumers for the requirement of implementation of CEP solutions which has enhanced the investments in this market in all domains including banking, financial services and insurance (BFSI), government & defense, manufacturing, tourism & hospitality, healthcare, consumer goods & retail etc. rising technological innovations are also considered to be the key driver for this market in Asia Pacific region. Rest of the world is showing sluggish growth rate.
The CEP applications allow integration of data from various sources such as an organization’s web-based contents and internal sub-systems, perform analytics over the data, and respond accordingly in real-time. The increasing demand for improved automation of business processes and their implementation in compliance with government and business policies are the boosting the global complex event processing (CEP) market.
Some Of the major market players are Huawei Technologies, Nestel technologies, Inc., Informatica Corporation, CISCO, Espertech, Inc., Tibco software Inc., Software AG, SAS institute, Inc., Red Hat, Inc., Oracle Corporation, etc. Acquisition, mergers and expansions are the key strategies adopted by the market players to sustain in the market.