Event Stream Processing Market Scenario:
The COVID-19 pandemic disruption is estimated to transform the Event Stream Processing Market in the years to come drastically, and its after-effects will be persistently seen in the years ahead. The MRFR report on the Event Stream Processing Market meticulously tracks the COVID-19 pandemic effect for the years ahead. Moreover, the precise analysis of drivers and restraints in a post-COVID-19 market offers a coherent understanding of future growth cues.
The event stream processing market 2020 had raked in considerable revenues of USD 612.7 million in 2020 and can touch a valuation of USD 1,663.0 million by 2027, estimate the experts at Market Research Future (MRFR). MRFR also projects the market to advance at a rate of 22.1% over the forecast period (2020 to 2027).
The global event stream processing market is witnessing brisk growth on the back of increasing adoption of the Internet of Things (IoT), leading to a surge in the proliferation of smart devices that need to monitor massive volumes of data from different sources to provide insights. While conventional analytics process the data after it is stored, event stream processing directly deals with the data, right when they occur. This facilitates quicker reaction time and it owing to these unique perceived advantages that the demand for event stream processing has soared considerably in the global market.
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Leading contenders in the global market for event stream processing include Informatica LLC (US), Streamlio, Inc. (US), Google LLC (US), SQLstream, Inc. (US), IBM Corporation (US), Salesforce.com, inc. (US), Software AG (Germany), Oracle Corporation (US), SAP SE (Germany), SAS Institute (US), Microsoft Corporation (US), FICO (US), Striim, Inc. (US), TIBCO Software Inc. (US), Hitachi Vantara Corporation (US), and more.
- The event stream processing industry has been segmented considering component, deployment mode, application and industry vertical.
- The components analyzed in the report are platform, services and software. The services available in the market are professional as well as managed.
- With respect to the deployment mode, the market segments are cloud and on-premises.
- Application-dependent market segmentation comprises predictive maintenance, network monitoring, fraud detection, algorithmic trading, sales & marketing, and others.
- The industry verticals that are deploying event stream processing are Transportation & Logistics, energy & utilities, BFSI, manufacturing, IT & Telecom, retail & eCommerce, and others. The BFSI vertical can take the lead in the market, since several financial institutions as well as banks largely focus on gaining insights from a voluminous pool of data that is generated from numerous transactions. This calls for the deployment of event stream processing in the BFSI sector.
The event stream processing market can be geographically categorized as South America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and North America.
MRFR expects North America to secure the top position in the global market, with Canada, Mexico and the US standing at the vanguard of the business growth. The regional dominance at a global level is on account of the fast uptake of advanced technologies combined with the presence of a massive number of well-established players. These regional players are spending considerably on the development of cutting-edge products that can not only attract more end-users but also establish their position further in the market.
During the review period, APAC is anticipated to acquire the fastest growth rate in the global market, thanks to the rising number of banking enterprises along with the expanding telecom sector. Increasing number of initiatives by the government promoting the adoption of event stream processing solutions can also foster the market growth in the region. Surge in technological developments and innovations, rapidly increasing use of Internet of Things (IoT) as well as connected devices also promote market growth in developing countries like India and China.
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Table of Contents:
1 Executive Summary
2 Market Introduction
2.2 Scope Of The Study
2.3 Market Structure
2.4 Key Buying Criteria
2.5 Macro Factor Indicator Analysis
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Insights
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