Hazelcast Recognized in Multiple Gartner Hype Cycle, Market Guide Reports for Event Stream Processing

Palo Alto, Calif., Sept. 25, 2023 (GLOBE NEWSWIRE) -- Hazelcast, Inc., the company that enables instant action on streaming data, today announces its inclusion in the Gartner Market Guide for Event Stream Processing (ESP) as a unified real-time data platform, a new category within the family of event stream processing technologies. The recognition from Gartner and the introduction of a new category match the significant growth in demand Hazelcast has achieved this year to date.

According to Gartner ¹, unified real-time platforms combine many or all features of an ESP platform with a DBMS or in-memory grid. This “new kind” of infrastructure software supports operational or analytical business applications that process streaming data in motion and historical data at rest. Unified real-time data platforms, such as the Hazelcast Platform, enable businesses to process real-time data and enrich it with relevant information from a data store to modernize existing applications or capture new opportunities. 

Anticipating the growing demand for real-time processing of streaming data - versus traditional batch processing strategies - Hazelcast introduced its unified real-time data platform in 2020. The platform uniquely combines a stream processing engine and an ultra-fast data store, which has since evolved to include ML inference and other capabilities. As a result, many Global 2000 customers trust Hazelcast and its platform to act instantly on streaming data for real-time use cases ranging from tailored offers at the point of sale, fraud detection, payment processing, order tracking, and more.

In part because of this foresight, Hazelcast continues to experience world-class growth, often outperforming IT industry peers. In comparing YoY metrics for 1H’23 versus 1H’22, Hazelcast achieved the following financial results:

• 2x higher growth in new business
• More than doubling of pipeline
• World-class rates for customer retention and expansion

“Since the launch of our platform, we’ve been able to deliver measurable business results for our customers because we empower a wide range of real-time business advantages in a digital world,” says Kelly Herrell, Hazelcast CEO. “Our inclusion in the Gartner reports is an honor and, when combined with our business results for the first half of the year, validates that we’re already where the broader market is headed.”

In addition to the Gartner Market Landscape report, Hazelcast is a sample vendor for ESP in several Gartner Hype Cycles, further highlighting Hazelcast’s innovation in real-time data solutions. Among the Gartner Hype Cycles naming Hazelcast in the ESP category are:

• Hype Cycle for Data Science and Machine Learning, 2023
• Hype Cycle for Analytics and Business Intelligence, 2023
• Hype Cycle for Data Management, 2023
• Hype Cycle for Open-Source Software, 2023
• Hype Cycle for Managing Operational Technology, 2023
• Hype Cycle for Application Architecture and Integration, 2023
• Hype Cycle for Human Services in Government, 2023

More on Hazelcast and unified real-time data platforms

• Unified real-time data platforms are beneficial to numerous industries and use cases, including real-time payment processing, fraud detection, and personalized offers.
• Combine multiple components of an event-driven architecture into a single platform.
• Hazelcast, trusted by many Global 2000 companies, combines a full-blown ESP platform and an in-memory grid to minimize latency.
• Hazelcast Platform acts as an abstraction layer, connecting to popular data sources, including databases, data lakes, and streaming data message buses. This approach eliminates the need to “rip and replace” existing infrastructure investments and accelerates an application’s time-to-market.
• According to Gartner ², the ESP platforms market grew by 13.4% in 2022, above the average worldwide software market growth rate of 11.3%.
• While ESP systems are used for both operational and analytical workloads, Hazelcast specializes in the operational side, specifically, event-driven applications, where it anticipates significant ESP market growth.

Additional Resources

• Gartner Market Guide for Event Stream Processing [Web]
• Hazelcast: The Real-Time Opportunity Enabling Companies to Take Instant Action [Blog]
• Hazelcast Showcases How to Get More Value from Streaming Data with Real-Time, Instant Action at the Current 2023 [Web]
• A Comprehensive Guide for Enterprise Architects to Evaluate Stream Processing Technologies [eBook]

(1) Gartner, Inc. “Market Guide for Event Stream Processing” by W. Roy Schulte, Pieter den Hamer, Ehtisham Zaidi. May 15, 2023.
(2) Gartner, Inc. “Market Share Analysis: Event Stream Processing Platforms, Worldwide, 2022” by Varsha Mehta, Nicholas Carter, Fabrizio Biscotti, Sharat Menoni, July 20, 2023.

About Hazelcast
The world’s leading companies trust Hazelcast and its unified real-time data platform to take instant action on streaming data. With a stream processing engine and fast data store integrated into a single solution, businesses can simplify real-time architectures for next-gen applications and AI/ML deployments to drive new revenue, mitigate risk, and operate efficiently - at a low TCO.

Hazelcast is named in the Gartner Market Guide for Event Stream Processing and a leader in the GigaOm Radar Report for Streaming Data Platforms. To join our community of CXOs, architects, and developers at brands such as HSBC, JPMorgan Chase, Volvo, New York Life, Domino’s, and others, visit hazelcast.com.