Survey through leading market research firm finds enterprises in financial services, manufacturing and retail sectors see ROI ramp up as they embrace EDA across the organization.
Ottawa (April 19, 2023) – Solace, the leading enabler of event-driven architecture (EDA) for real-time enterprises, today announced the release of the IDC Infobrief, sponsored by Solace, Getting in Sync: Unlocking the Exponential Business Value of Real-Time Event-Driven Data Flows.* The Infobrief is based on the results of a survey of over 300 enterprise IT professionals in North America, Asia and Europe, all of whom work for companies with over 1,000 employees that are implementing or considering EDA.
The survey revealed that as enterprises gain experience in their early applications of EDA, they recognize other areas of their business in which EDA could be beneficial. This is reflected by the fact that 82% said their company plans to apply EDA to 2-3 new use cases within the next 24 months, and 93% of companies that have deployed EDA across multiple use cases said EDA has met or exceeded their expectations.
It’s been clear for several years that event-driven architecture has become the de facto standard way businesses are becoming real-time, and the results of this survey confirm that,” said Mychelle Mollot, chief marketing officer at Solace. “The survey results show how the market has evolved since a survey we conducted in 2021, and sheds light on the increasing ROI enterprises see as they advance toward enterprise-wide EDA.”
The survey found that in addition to technical advantages from EDA, most businesses also see clear business benefits: 23% of respondents reported increasing productivity, 22% said better customer acquisition, and 18% saw revenues increase as a result of their EDA efforts.
EDA maturity is linked to general digital maturity, as those with higher levels of EDA maturity generally exhibit the strategic and change management support needed to sustain digital business initiatives,” said Shari Lava, research director, automation within the AI and automation group, IDC. “In fact, organizations with higher levels of EDA maturity were more likely to report being ahead of their peers in developing digital business models than those in early stages.”
Expanding the footprint of EDA across the enterprise is a journey, and the survey also revealed that as benefits evolve over time, so do the challenges faced. For organizations just getting started with EDA, the most common challenges are lack of understanding of EDA benefits and inconsistent buy-in between business and IT. As organizations progress and internal support increases, the most common concerns are keeping costs in check and finding the right use cases. Finally, companies further along run into change resistance as EDA affects an increasing number of processes across lines of business and partners.
To learn more, download the full IDC Infobrief here. In addition, sign up for the 2023 EDA Summit taking place Wednesday May 10, and hear firsthand from IDC Research Director Shari Lava, author of the Infobrief, who will introduce and explain the results of the survey in more detail.
The results of this survey are comparative to the findings from a 2021 study, also sponsored by Solace, which was the first ever focused specifically on EDA. The 2021 study concluded that although the majority of respondents recognized the critical business value in embracing EDA, adoption was still ‘early days’ and required more support from business leadership in order to move forward.
* Source: IDC InfoBrief, sponsored by Solace, Getting in Sync: Unlocking the Exponential Business Value of Real-Time Event-Driven Data Flows, Doc# CA50489623BRO, April 2023
IDC conducted a web survey, commissioned by Solace, of 316 IT professionals who indicated familiarity with EDA, in December 2022. The respondents all work at organizations with 1,000 or more employees, across a variety of industries. In total, 24% of respondents were based in the U.S. and Canada; 40% in Europe (France, Germany and the UK); and 36% in the Asia Pacific region (Australia, Japan, Hong Kong, New Zealand, Singapore). The results have a margin of error of +/- 5.6% at a 95% confidence interval.
Solace helps enterprises become modern and real-time by giving them everything they need to make their business operations and customer interactions event driven. With PubSub+, the market’s first and only event management platform, the company provides a comprehensive way to create, document, discover and stream events from where they are produced to where they need to be consumed – securely, reliably, quickly, and guaranteed. Established enterprises such as SAP, Barclays and the Royal Bank of Canada, multinational automobile manufacturers such as Groupe Renault and Groupe PSA, and industry disruptors such as Jio use Solace’s advanced event broker technologies to modernize legacy applications, deploy modern microservices, and build an event mesh to support their hybrid cloud, multi-cloud and IoT architectures. Learn more at solace.com.