Event Stream Processing Market Size was valued at USD 790.3 Million in 2022. The Event Stream Processing market industry is projected to grow from USD 930.4 Million in 2023 to USD 2400.1 Million by 2030, exhibiting a compound annual growth rate (CAGR) of 12.86% during the forecast period (2023 - 2030). Increasing demand for real-time analytics, huge data losses due to real-time security issues and the requirement to analyze big data boosts market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industry News Of Event Stream Processing Market
Huge data losses due to real-time security issues drive the market growth
The digitalization of the world shows is growing tremendously during and after COVID. Two years after the pandemic, cybercriminals are becoming more active because most people are online for longer hours. Previously breached data is used to track additional personal information in social media, online shopping, and healthcare sites.
According to a report from ForgeRock, data records containing usernames and passwords are the perfect "seeds" for perpetrating new breaches. According to them, Two billion records containing usernames and passwords were compromised in 2021 — an increase of 35% over 2020. In addition, unauthorized access was the top breach in 2021, accounting for 50% of all breaches. The average cost of a single breach in the U.S. retail sector rose to nearly $3.27 Million.
According to our research, cybercrime costs are expected to grow at a CAGR of 19.8% from 2022 to 2030 and is expected to reach USD 31.02 trillion annually by 2030.
Figure 1: Cybercrime Cost, 2021 to 2030, USD Trillion
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
This growth is fueled by several factors: personal attacks, corporate attacks, and government attacks. Today where most countries are looking to become self-sufficient with the adoption of digital transformation, cyber threats will also increase exponentially. To manage these uncertainties, event processing is used to cater to live feeds of any network disruptions creating an excellent opportunity for this market.
The global event stream processing market is segmented based on application type into Fraud Detection, Predictive Maintenance, and Algorithmic Trading. The fraud detection segment is expected to generate more than 50% of revenue for event processing in 2023.
Figure 2: Global Event Stream Processing Market, by Application, 2022 & 2030 (USD Million)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
It is expected to be the market's most targeted sector during the forecast period. Fraud detection in banking aims to assist fraud cases, security executives, and risk management executives by outlining the critical factors their industry should consider when implementing new fraud detection technologies like behavioral biometrics. Certain businesses are leaders in behavioral biometrics, a cutting-edge technology that taps into the strength of human digital behavior to produce actionable information and create a society that values comfort and trust.
February 2023: - Nvidia, a manufacturer of GPUs, is introducing a new service that will let users access its DGX AI supercomputer in the cloud. The company also unveiled a new set of cloud-based tools for creating generative AI systems. After the release of Open Ai’s ChatGPT chatbot, such models have seen a surge in popularity, and Nvidia has benefited.
February 2023 - The wide release of the resource map for the Amazon Virtual Private Cloud was announced by Amazon earlier this month. Customers may access all VPC resources and connections in a visual format using the new feature's central hub, which helps them better, understand their VPC architecture.
The global event stream processing market is segmented into software, platforms, and services based on service type. The software segment holds a share of more than 52% in 2023 and is expected to grow at a CAGR of more than 13% through the forecast period. The software tools take the streaming data and extract useful information. Thanks to the IoT, some connected services, and other sensors, a predetermined fixed amount of data is extracted every second. Due to this, the market for software tools used for event stream processing has seen increased demand. This processing has triggered the information where event detection has occurred. It is a software-based tool used to develop systems for the IT industry. The processing of stream data happens simultaneously with the recognition of a significant pattern.
With the proliferation of data, the worldwide event stream processing industry is poised to grow exponentially. With event stream processing software, data streams may be examined as they come in real-time to uncover insights that can be used. In more detail, an event stream processing program analyzes data streams in real-time, stores the data as it is processed, and compiles data from many sources.
The services segment is also anticipated to grow at a CAGR of 15.1% during the forecast period. Moreover, customers can use the stream by subscribing to different event streams, which can be distributed throughout the company. Many new technologies, including IoT and ML, which have a higher need for event stream processing solutions by the industry, are included in event stream processing solutions and services, which are widely adopted across industries. Growth in the market is influenced favorably by growing funding and support from public and private organizations and venture capitalists.
The global event stream processing market is segmented based on deployment type into cloud and on-premises. The cloud segment dominates this market with significant growth and is projected to grow at a CAGR of 16% through the forecast period. There are several cooperative activities taking place in the US cloud market. For instance, the multinational technology company HCL Technologies announced expanding its collaboration with Google Cloud to deliver Actian Avalanche, a product of HCL's Actian portfolio, to Google Cloud. The operational analytics workload of a company is said to be improved by this hybrid cloud data warehouse. With popular SaaS and corporate applications, Avalanche also provides a business intelligence and analytics platform with Google Cloud that makes building and using a full solution simple.
For instance, the increased demand for event stream processing is forcing businesses in the area to offer novel solutions to gain market share. One IBM Cloud Pak with integration capabilities is IBM Event Streams. It allows businesses access to corporate data via event streams, enabling them to analyze event-based data, spot threats quickly, and take swift action. The control of event endpoints and API administration were the IBM differentiators mentioned.
Businesses in the region are being forced to offer unique solutions to capture market share due to the rising demand for event stream processing. IBM Event Streams is one IBM Cloud Pak with integration abilities. Businesses may now access corporate data via event streams, allowing them to analyze event-based data, identify threats immediately, and respond accordingly. The IBM differentiators identified were the ability to control event endpoints and API administration.
This market has been segmented by region into North America, Europe, Asia-Pacific, and the rest of the world. The North American region is estimated to hold a share of 43% in 2022 and is expected to grow at a CAGR of 14.15% through the forecast period. The region's significant number of ESP vendors can be attributed to their early embrace of new technologies, strong adoption rates, and R&D investments to advance their event-based services. The increased demand for event stream processing is forcing businesses in the area to offer novel solutions to gain market share. One IBM Cloud Pak with integration capabilities is IBM Event Streams. It allows businesses access to corporate data via event streams, enabling them to analyze event-based data, spot threats quickly, and take swift action. The control of event endpoints and API administration were the IBM differentiators mentioned.
Due to its rapid technological advancement, Asia Pacific is also anticipated to surpass all other areas in the coming years. This is mostly due to the growing use of linked gadgets and the Internet of Things. The region's market is also benefiting from several government initiatives to use event stream processing technologies.
Figure 4: GLOBAL EVENT STREAM PROCESSING MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Another factor anticipated to drive the growth of the global event stream processing market is the increasing demand for analyzing massive volumes of data from various sources to provide real-time insights. For instance, e-commerce retailers are improving the in-store and online shopping experiences for customers with the aid of sensors that detect in-store behavior by analyzing streaming data inside the store, such as inventory, social media chats, and online-shop user profiles, to customize and offer individualized experiences while the purchase decision is underway.
The demand for real-time analysis of streaming data, the rising use of cloud-based solutions, and rising demand from numerous end-use sectors are some of the factors fueling the growth of the worldwide event stream processing market. Big data analytics is a growing trend accelerating the market's expansion.
Major players in the event stream processing market, including IBM, Microsoft, Google, Oracle, SAS, and others, are focusing on developing their business strategies. Such crucial players are working to improve their positions both organically and inorganically.
February 2023: - Aiven introduced the managed version of Apache Flink for processing real-time data streams. Businesses may now use a fully managed version of the real-time data stream processing platform on Google Cloud, Amazon Web Services, and Microsoft Azure thanks to the new offering.
| Report Attribute/Metric | Details |
| Market Size 2022 | USD 790.3 Million |
| Market Size 2023 | USD 930.4 Million |
| Market Size 2030 | USD 2400.1 Million |
| Compound Annual Growth Rate (CAGR) | 12.86% (2023-2030) |
| Base Year | 2022 |
| Forecast Period | 2023-2030 |
| Historical Data | 2019 & 2021 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Component Type, Deployment Type, Application Type and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | IBM, Microsoft, Google, Oracle, SAS, AWS, Confluent, Dataartisans, Databricks, Equalum, ESPertech, EVAM, Fico, Google, Hitachi Vantara, Informatica, Sqlstream, Streamanalytix, Streamlio, Striim, Tibco and Deloitte |
| Key Market Opportunities | Government implementation of digital transformation |
| Key Market Dynamics | Increasing demand for real-time analytics Huge data losses due to real-time security issues The requirement to analyze big data. |
Event Stream Processing Market Highlights:
Frequently Asked Questions (FAQ) :
The market for Event Stream Processing was USD 790.3 Million in 2022.
The global analytics market is expected to be USD 2400.1 Million in 2030.
The growth rate for the Event Stream Processing market is 12.86% through the forecast period 2023-2030.
At present, the North American region held the largest market share.
The major players are dominating the market are Amazon Web Services, Inc., Hewlett Packard Enterprise, IBM Corporation, Century Link, Inc., Microsoft Corporation, Oracle Corporation, SAP SE, and others.
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Senior Research Analyst Ankit gupta is an analyst in market research industry in ict and semi industry. with post-graduation in "telecom and marketing management" and graduation in "electronics and telecommunication" vertical he is well versed with recent development in ict industry as a whole. having worked on more than 150+ reports including consultation for fortune 500 companies such as microsoft and rio tinto in identifying solutions with respect to business problems his opinions are inclined towards mixture of technical and managerial aspects.
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