What Has Been The Evolution of the Event Stream Processing Market in Recent Years?
The event stream processing market has seen considerable growth due to a variety of factors.
• In recent times, the market size for event stream processing has seen rapid expansion. The market, which currently stands at 1.45 billion dollars in 2024, is anticipated to reach $1.72 billion in 2025, projecting a compound annual growth rate (CAGR) of 18.7%.
Factors bolstering this growth include the surge in big data analytics, the escalating need for real-time data processing, acceptance of IoT and interconnected devices, increased requirement for operational proficiency, the proliferation of cloud computing, and the advent of initiatives for digital transformation.
How Will the Event Stream Processing Market?
The event stream processing market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size for event stream processing is anticipated to experience swift expansion, potentially reaching $3.38 billion by 2029 with a compound annual growth rate (CAGR) of 18.4%.
This growth during the projection period is likely due to the rising utilization of AI and machine learning in data analytics, burgeoning demand for predictive insights, increasing adoption of 5G technology, wider application of event-driven architecture in companies, escalating demand for edge computing, and the growth of real-time fraud detection solutions. Noteworthy trends in the forecast period may encompass the incorporation of AI in event stream processing, broadening of cloud-native event processing platforms, emergence of serverless computing, growing emphasis on scalability and flexibility, real-time customer experience solutions, and advancements in low-latency and high-throughput processing abilities.
Which Factors Are Boosting Growth In The Event Stream Processing Market?
The rising need for internet of things (IoT) is anticipated to fuel the expansion of the event stream processing market. IoT refers to an interconnected network of devices that exchange and communicate data over the internet. Technological advancements such as cost-effective sensors and heightened connectivity promote the surge in IoT, facilitating more devices to be interconnected and driven by data. Event stream processing in IoT provides real-time analysis from continuous streams of sensor data, enhancing optimization of reactions and actions across connected devices. As Ericsson, the network, and telecommunication corporation based in Sweden, noted in November 2022, IoT-connected devices will surge to 34.7 billion by 2028 from 13.2 billion in 2022, with 28.7 billion of these devices connecting through local short-range LPWANs and 6 billion via wide-area networks, including private cellular networks. As a result, the escalating demand for the internet of things (IoT) is steering the event stream processing market's growth.
What Key Areas Define The Segmentation Of The Global Event Stream Processing Market?
The event stream processingmarket covered in this report is segmented –
1) By Component: Solutions, Services
2) By Deployment Type: Cloud, On-Premises
3) By Application: Fraud Detection, Predictive Maintenance, Algorithmic Trading, Network Monitoring, Sales And Marketing Management, Other Applications
Subsegments:
1) By Solutions: Data Ingestion Solutions, Stream Processing Engines, Event Analytics Solutions, Integration Solutions, Monitoring And Management Solutions
2) By Services: Consulting Services, Implementation Services, Support And Maintenance Services, Training And Education Services
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How Are New Trends Impacting The Size Of The Event Stream Processing Market?
Leading firms in the event stream processing market are focusing their efforts on real-time analysis solutions, such as stream analytics, in a bid to boost efficiency in data processing and deliver real-time actionable insights. Stream analytics is a process that pertains to the real-time analysis and processing of incoming data streams from various sources, allowing for immediate insights and subsequent actions. It utilizes a combination of algorithms and data processing techniques to manage high-speed data, enabling businesses to make fast, data-supported decisions. For instance, in January 2024, Microsoft's US-based cloud computing platform, Azure Stream Analytics, introduced substantial improvements to its no code editor, effectively making it easier to create and manage stream analytics jobs without the need for coding. The updated version boasts a better user interface, intuitive operator management, and guidance bubbles for first-time users. Such improvements are indicative of the wider trend in real-time analytics for event stream processing, placing emphasis on making intricate data processing tasks simpler and more efficient, hence enhancing user experience and optimizing real-time data analysis.
Who Are the Key Players In The Event Stream Processing Market?
Major companies operating in the event stream processing market are:
• Amazon Web Services Inc.
• Microsoft Azure
• International Business Machines Corporation
• Oracle Corporation
• SAP SE
• Google Cloud
• SAS Institute Inc.
• Informatica LLC
• Software AG
• Cloudera Inc.
• Impetus Technologies Inc.
• Confluent Inc.
• DataStax Inc.
• Aiven Oy
• Striim Inc.
• Hazelcast Inc.
• Lightbend Inc.
• Kinetica DB Inc.
• StreamNative Inc.
• Ververica GmbH
• Apache Software Foundation
• EsperTech Inc.
What Is The Most Dominant Region In The Event Stream Processing Market?
North America was the largest region in the event stream processing in 2024. Europe is expected to be the fastest-growing region in the forecast period. The regions covered in the event stream processing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
