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Complex Event Processing (CEP): Demand on Cloud may Revolutionize CEP Market
In the capital market scenario, organizations have to deal with huge amount of data which is continuously updated and necessitate taking important decisions in matter of micro seconds. In such conditions it is highly impractical to expect human resource to supervise and the requirement for a high speed processing technology such as complex event processing arises. Therefore it has been prime factor for the development of Complex Event Processing (CEP) technologies which helps in real time fraud detection, algorithmic trading and event response system in capital market, over the last few years. On 8th April 2013, HiThink has adopted CEP technology, in partnership with StreamBase, for high frequency trading (HFT) in China capital market. This shows that CEP technology has huge untapped potential and will be show study growth in capital markets across the globe.
Over the period, adoption of CEP technology is also observed in other industries such as healthcare, transportation and logistics, telecommunication, energy and utilities. Thus, exponentially increasing real time transactions and data events requires monitoring and maintained for keeping organizational processes intact. Further, organizations are required to follow government compliance standards such as BASEL III, FISMA, HIPPA, etc. and CEP middleware technology provides them integrated software platform which monitors these requirements on real time bases removing operational threats.
Many national, state or local governments are adopting CEP technology to enhance their intelligence and security operations in their particular region. It is being used for sentiment analysis by various governments to foresee any event that may lead to public unrest and terrorist activities. For example, United States home land security division employ CEP technology to enhance their cyber security protection and civil organization network from outside threats. MarketsandMarkets expects government, defense and aerospace to have market share of 13.98 percent in CEP market. Further transportation and logistics organizations have also shown high interest in CEP technology. Leaders such as Tibco have already started leveraging profit by providing CEP technology that integrates with airport and railroad traditional operation systems.
MarketsandMarkets expects that the CEP technology will be integrated into cloud services in the long term, thereby creating customizable SaaS stack that will facilitate quicker customer adoption of the same. In terms of geographies, North America is the biggest market in terms of revenue contribution, while Asia Pacific (APAC includes Japan) is expected to experience increased market traction, during the forecast period. Especially countries such as Singapore, China and India are having huge economic potential for CEP market.
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)
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