Complex Event Processing - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Complex Event Processing Market size is estimated at USD 5.27 billion in 2024, and is expected to reach USD 15.31 billion by 2029, growing at a CAGR of 23.76% during the forecast period (2024-2029).

With the growing use of sensors and connecting devices, the amount of data getting stored is increasing exponentially. In the traditional DBMS method, the problem of analyzing this data on a real-time basis is a challenge. Complex Event Processing (CEP) addresses this problem in response, as it works on the stored query rather than stored data.

Key Highlights

• The rise of big data and the Internet of Things (IoT) drives the demand for CEP solutions. Big data and IoT generate massive amounts of data that are difficult to analyze using traditional methods. Thus, analyzing this data and identifying patterns and trends have propelled the adoption of the Complex Event Processing Market.
• With the internet revolution, the need for real-time data analytics has multiplied over the past few years. Companies are investing highly in industrial automation, raising the developments in machine learning. Additionally, varied industries, along with Big Data, are making the web more complicated, ultimately driving the complex event processing market.
• Along with the need for real-time data analytics, the amount of data getting stored is reaching high regularly. Hence, the demand for efficient CEP systems for effective real-time data processing is growing. According to a global survey released in November 2022 by the AI, Data & Analytics Network, the top area of investment in advanced analytics is complex event processing, as 52% of companies are already investing in it.
• However, the high implementation cost of complex event processing solutions for different applications is high, preventing small and medium-sized businesses from adopting them. Also, the complexities involved in the data streams make it challenging for the CEP to recognize patterns.
• The COVID pandemic resulted in a surge in data generation, as businesses and organizations turned to digital channels to interact with customers and employees, which led increased need for complex event processing solutions to get insights into data and take action in real-time. Further, the pandemic led to the use of new technologies, such as artificial intelligence (AI) and machine learning (ML) to improve the efficiency of CEP solutions.

Complex Event Processing (CEP) Market Trends

BFSI End-user Segment to Grow Significantly

• The BFSI sector's growing reliance on real-time data analysis, risk management, fraud detection, compliance, and customer-centric approaches have significantly fueled global demand for complex event processing. CEP is an essential technology for financial institutions because of its capacity to process and analyze enormous amounts of data in real time, find patterns, and initiate actions.
• Credit card companies increasingly use complex event processing solutions with Big Data analytics to manage fraudulent activities efficiently. When a pattern of fraud incidence emerges, the company can block the credit card quickly before it can experience significant losses, as it deals with the moving flow of data. The underlying system is expected to correlate the incoming transactions, track the event data stream, and trigger a process.
• Factors for the increased use of complex event processing for fraud detection in the banking sector and other financial organizations will significantly contribute to this industry segment's development in the coming years. This, in turn, will increase the share and size of the complex event-processing business.
• Banks and trading companies are investing in blockchain technology, which is giving rise to using CEP systems. CEP systems help integrate the digital transaction lifecycle among various business entities, customers, systems, and technologies. With CEP, event handlers must be configured to listen for changes in the blockchain or the connected endpoints and then correlate and invoke appropriate CEP rules to derive an action or alert.
• This statistic shows IT spending as a share of companies' revenue by industry worldwide in 2022. According to Flexera Software, software and tech hosting/cloud, and financial services companies spend much more on IT than other industries. The financial services industry invests around 10% of its revenue in IT.

North America Expected to Hold Major Market Share

• The adoption of the Internet of Things (IoT) and big data technology in various end-user verticals in North America is increasing significantly. Many organizations are generating and collecting large amounts of data from multiple sources to gain insights into customer operational efficiency, behavior, and fraud detection. In such applications, CEP is increasingly used to analyze this real-time data.
• The region has witnessed the early adoption of complex event-processing technologies. Several prominent regional vendors have developed complex event-processing solutions and demonstrated their benefits in various applications. This early adoption has created a favorable market environment, driving further growth and adoption.
• For instance, in July 2022, IBM expanded its business automation portfolio, including IBM Decision Manager Open Edition, the latest addition to its decision management capabilities consisting of the enterprise-grade Operational Decision Manager and low-code, next-generation Automation Decision Services. It offers Kogito-based cloud-native architecture, DMN1.4-compliant runtime, and complex event processing.
• In addition, the United States has been at the forefront of technological advancements in various industries for technology development. This environment fosters the growth and adoption of complex event-processing technologies.

Complex Event Processing (CEP) Industry Overview

The complex event processing market is semi-consolidated, with significant players such as IBM, Oracle, SAP, Software AG, and Tibco Software collectively accounting for a substantial market share. The players operating in the market have been investing in product launches, mergers and acquisitions, and collaboration activities to stay ahead of the competition.

In July 2022, IBM expanded its business automation portfolio, including IBM Decision Manager Open Edition, the latest addition to its decision management capabilities consisting of the enterprise-grade Operational Decision Manager and low-code, next-generation Automation Decision Services. It offers Kogito-based cloud-native architecture, DMN1.4-compliant runtime, and complex event processing.

In February 2022, thatDot, Inc., one of the leading companies in complex event stream processing software, released Quine. This unique approach combines graph data and streaming technologies into a modern, developer-friendly, open-source software package.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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