EDA(Event Driven architecture) and CEP(Complex Event Processing) – waiting to hit limelight?

Three years ago When I started working on an Jini Based SOA project, I realised the potential of Event Driven programming.
As a java developers we might have used event drivent approch for programming in several occassions. But this took a new dimension in last couple of years.

The Event driven architecture is fairly an old concept. But I am not sure whether the industry recognized its full potential until 2004/05.
The proliferation of SOA in 2008 took a new dimension with EDA(Event Driven Architecture) and CEP (Complex Event Processing).
The top SOA vendors like IBM, TIBCO, Oracle are investing into this development. But, did it really took of in 2008 as expected? The results are gloomyas per the CEP product vendor’s balance sheets.

The recession is one of the main reason for th. You may wonder how? Initially, the CEP proved its success and in Algorithmic trading
platforms which is a must have product for Capital markets players like stock exchanges, investment banks and independent share trading
institutions. So, for this obvious reason the growth in the financial sector is limited in 2008(may be over 2009 until the market recovers)
I think many of us think that EDA and CEP are another buzzword. Ofcourse it looks like that, Because of this product vendors approch to it.
They have started preaching in every tech meets and product videos.(I think I have seen many of them) Instead they should create a product
which delivers the business value.

Finally if you wonder how this EDA and CEP is related to SOA,EDA is an architectural approach to model IT systems from a business event perspective. EDA differs from SOA by its focus.
SOA puts services at the center of the model and EDA does so with business events. The SOA-approach results in synchronous communication style
and the EDA-approach in an asynchronous communication style. So, SOA and EDA are different, But in Complex system they can be complementary.
CEP is a technique to process the message streams. CEP can be used to implement EDA. There are many CEP product vendors with no. of products in the market already. E.g TIBCO, StreamBase, Aleri, Progress Apama etc.

Many said, SOA in 2008 is SOA+CEP. Well, it is yet to prove its business worthiness. But designers and developers should start look into it.