Increased data complexity among corporations, driving the complex-event processing market
Complex-Event Processing (CEP) is a methodology that keeps track of and processes the data in a combined manner from different sources in order to get useful trends & patterns and derive conclusions. As a result of the cost-effectiveness of the complex-event processing, it is highly being adopted in various sectors such as government, aerospace and defense and hence, the demand for complex-event processing services is significantly increased. Moreover, growing requirement of calculated output from relational databases is creating tremendous growth in the industry. Various organizations are experiencing a drastic increment in the data complexity, due to which there is a huge requirement of complex-event processing technology.
In the current scenario, the necessity of faster activities and responses in a punctual manner, are the most important aspects of all the organizations. It is required to expand the abilities beyond the standard database, to hold on a highly-competitive organizations for the financial firms. Thus, complex-event processing came into view. In addition to this, constant progress in machine learning and data analytics has pushed the Complex-Event Processing market growth. However, lack of result consistency might act as a restraining agent for the market growth. On the contrary, the necessity to reduce data complexity and rise in the research and development activities regarding complex event processing are the key factors which will act as a future growth opportunity for the market.
A crucial factor influencing the Complex-Event Processing market is the hiking growth in big data architecture. The prominent objective of Complex-Event Processing is to make real-time decisions on streaming information, unlike taking actions on the basis of historical data analysis performed. It is all about getting the most complex data from the interaction of various simple rules, which are applied to the real-time data. Various industry leaders are seeking out for methods to acquire real-time data for their data resources and perform at the right time. Thus, growth in the technologies related to Big Data is expected to boost the market in the near future.