Complex Event Processing (CEP) Market Worth $3,322 Million by 2018
DALLAS, August 29, 2013 /PRNewswire via COMTEX/ --
The report "Complex Event Processing (CEP) Market [Algorithmic Trading, Fraud Detection, Sentiment Analysis, Supply Chain Optimization, Transportation and Logistics, Revenue Assurance, Emergency Response Services] Worldwide Market Forecast & Analysis (2013 - 2018)", defines and segments the global Complex Event Processing (CEP) Market into various sub-segments with in-depth analysis and forecast of revenues. It also identifies drivers, opportunities and restraints for this market with insights into industry trends and their impacts over time.
Browse 114 market data tables and 39 figures spread through 218 pages and in-depth TOC on "Complex Event Processing (CEP) Market - Worldwide Market Forecast & Analysis (2013 - 2018)"
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MarketsandMarkets has segmented the Complex Event Processing Market by type: detection-oriented, operation-oriented, hybrid; by type of services: installation and maintenance, training and certification, consulting services and others; by applications in various verticals- BFSI: algorithmic trading, electronic transaction monitoring, dynamic pre-trade analytics, data enrichment, fraud detection, governance, risk and compliance (GRC); healthcare: self-service proactive monitoring and alerting and governance, risk and compliance (GRC); transportation and logistics: asset management and predictive scheduling and toll system management; IT and telecommunication: mobile billboards, revenue assurance, network infrastructure monitoring and predictive CDR assessment; retail: inventory optimization, shoplifting detection and real-time marketing and customer engagement; energy and utilities: oil and gas operation management and nuclear crisis and smart grid energy management; manufacturing: shop floor automation and operational failure detection, infrastructure management and supply chain optimization; government, defense and aerospace: intelligence and security, emergency response services and geo-fencing and geospatial analysis; Others: includes airport and railroad; by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East Africa (MEA) and Latin America (LA).
The major forces driving this market are the unprecedented market risks, easy to deploy, need for customer oriented analytical tools and Big Data trends. Furthermore, in verticals such as healthcare, banking and finance exponential raise in real time customer data and transaction information demands for event monitoring and fast response system to maintain organizational processes. Further, organizations in industries such as healthcare, telecommunication, banking and capital market; are mandate to follow compliance standards such as FISMA, BASEL III, HIPPA, etc. Thus, by using CEP technology, organization can monitor and predict compliance risks in advance which ensure smoothness of business processes and removes inconsistency.
While the CEP market is expected to rise at a steady pace across various verticals, some of the organizations such as TIBCO, Oracle, IBM and many other companies are already providing CEP technology in their current integrated middleware software product portfolio. Further, MarketsandMarkets expects that CEP technology will be integrated into cloud services in the long term, thereby creating customizable stack services and applications that facilitate quicker customer adoption of the same.
MarketsandMarkets observes that there is an increasing demand of CEP technology in government, defense and aerospace agencies due to the cost effectiveness and responsive operational technology which can be integrated without disrupting traditional legacy system. Hence, even though the adoption of the CEP technology and is majorly seen in BFSI vertical, we expect that these solutions will continue to show steady growth in other verticals as well.
The Complex Event Processing (CEP) Market is estimated to grow from $ 764.5 million in 2013 to $3,322.0 million in 2018. This represents a Compounded Annual Growth Rate (CAGR) of 34.2% from 2013 to 2018. In the current scenario, government and BFSI vertical continues to grow and are the largest contributor for Complex Event Processing (CEP) software solutions. In terms of regional growth, North America is expected to be the biggest market in terms of revenue contribution. European and APAC region is expected to experience increased market traction, due to increasing adoption across various verticals and investment support in research projects from the regional government.
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