DUBLIN--(BUSINESS WIRE)--The "Event Stream Processing Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The Event Stream Processing (ESP) market is anticipated to witness a CAGR of 20.6% over the forecast period 2021-2026.
The increasing adoption of the internet of things (IoT) and smart devices, increasing need to analyze large volumes of data from diverse sources are some of the major factors influencing the growth of event stream processing market while concerns associated with data security and privacy is expected to hinder the growth of the market.
Companies Mentioned
- IBM Corporation
- Microsoft Corporation
- Google Inc.
- Oracle Corporation
- Amazon Web Services Inc.
- Salesforce
- Redhat
- SAP SE
- TIBCO
- Hazelcast IMDG
- SAS
- Confluent, Inc.
- Hitachi Vantara
- Informatica
Key Market Trends
Growing Demand for ESP Solutions in BFSI Vertical
- With various financial institutions and banks focusing on unlocking value from the insights gained from a large pool of data generated from multiple transactions, BFSI vertical is expected to account for the largest market size during the forecast period.
- BFSI vertical has applications where ESP solutions can prove beneficial, such as internet banking, mobile banking. Owing to this, enterprises operating in this space are looking to achieve a competitive advantage by deploying ESP solutions that could analyze real-time streaming data to perform various activities.
- The technological penetration, coupled with the growth of digital channels, has triggered a slew of transactions resulting from various activities such as making a payment, withdrawing cash or trade a stock, etc. Online banking is becoming the preferred choice of customers for banking services. According to Eurostat, the statistics pertaining to online banking indicated that about 58% of the EU population used internet banking in 2019.
- There is a greater need for banks to leverage advanced monitoring and access control processes. The drive to digitize and enable financial inclusion by the developing economies have led to the industry emerging as an attractive target for key players in the market studied.
- Further, Mifid II, an EU regulatory reform for the financial industry, requires that these enterprises report trading activity within a minute of execution. This regulation has led to banks taking the trouble to install real-time event streaming.
North America is Expected to Hold a Large Share of the Market
- North America is expected to hold the largest market size and dominate the ESP market during the forecast period. The presence of a number of ESP vendors in the region is attributed to the early adoption of emerging technologies and high adoption & investments in R&D enhance their event-based offerings.
- The high concentration of large multinational companies in the region such as IBM Corporation, Microsoft, etc. also would help consolidate the majority of revenues from this region and largely contribute to the growth of the market.
- Further, the adoption of cloud technology in the region provides significant scope for the market over the forecast period. Statistics from The Information Technology Association of America (ITAA) indicate that the adoption of cloud technology among mid-market companies, in the US, ranges between 15% and 44% for various business functions, with the adoption among BFSI vertical being the highest.
Key Topics Covered:
1 INTRODUCTION
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Adoption of the Internet of Things (IoT) and Smart Devices
4.2.2 Increasing Need to Analyze Large Volumes of Data From Diverse Sources
4.3 Market Restraints
4.3.1 Concerns Associated with Data Security and Privacy
4.4 Porters 5 Force Analysis
5 MARKET SEGMENTATION
5.1 Deployment Type
5.1.1 Cloud
5.1.2 On-premise
5.2 Component
5.2.1 Solutions (Software & Platforms)
5.2.2 Services
5.3 Application**
5.3.1 Fraud Detection
5.3.2 Algorithmic Trading
5.3.3 Process Monitoring
5.3.4 Predictive Maintenance
5.3.5 Sales and Marketing
5.4 End-user Vertical
5.4.1 IT & Telecommunications
5.4.2 BFSI
5.4.3 Manufacturing
5.4.4 Retail & E-commerce
5.4.5 Energy & Utilities
5.4.6 Other End-user Verticals
5.5 Geography
5.5.1 North America
5.5.2 Europe
5.5.3 Asia-Pacific
5.5.4 Latin America
5.5.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/1lakuw
