With the generation of massive amounts of data on a daily basis, the demand for scalability and reliability is on the rise. It is poised to pave the way for the adoption of Hadoop data analytics. The report published by Market Research Future (MRFR) underscores that the global Hadoop big data analytics market is anticipated to thrive at 36.37% CAGR across the review period 2018 to 2023. In addition, it has also been revealed that the valuation of the global market is expected to reach USD 52 Bn mark by 2023.
The rising deployment of the Industrial Internet of Things (IIoT) has intensified data generation across industries. It has catalyzed the growth rate of the Hadoop big data analytics market. The trend is assessed to be continuing over the next couple of years. In addition, the technology facilitates data mining and extraction of information from a massive chunk of unstructured data in a cost-effective manner. This, in turn, is expected to put the Hadoop big data analytics market on the growth trajectory.
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The component-based segmental assessment of the global Hadoop big data analytics market covers –software and services (Managed Services, Consulting & Development, and Training & Support).
Based on application, the Hadoop big data analytics market has been segmented into risk & fraud analytics, customer analytics, Internet of Things (IoT), merchandising & supply chain analytics, security intelligence, merchandising coordination service, distributed coordination service, and others.
The end-user segments of the global Hadoop big data analytics market are – BFSI, government & defense, IT & telecommunication, manufacturing, healthcare, transportation & logistics, and others.
The Hadoop Big Data Analytics Market has been studied on a regional and country-level basis. The regions identified in this MRFR report are – Asia Pacific (APAC), Europe, North America, and the Rest of the World (RoW). North America alone held a 54.44% share of the global market in 2017 and was valued at USD 4.71 Mn. The region is anticipated to maintain a prominent market position and strike 34.90% CAGR through the forecast period. The U.S. and Canada are projected to contribute the most in the region to the proliferation of the Hadoop big data analytics market. Also, the technological advancements of the region are likely to become the key driver of the regional Hadoop big data analytics market in the forthcoming years. The presence of an advanced cloud infrastructure is expected to provide impetus to market growth in the region over the next couple of years.
In October 2019, Twitter, a microblogging and social networking service, has recently announced the removal of storage bottlenecks and has sped up its Hadoop analytics by 50%.
In September 2019, Google, a multinational technology company based out of the U.S., has launched its latest cloud storage designed for Hadoop. It facilitates the substitution of the conventional Hadoop Distributed File System (HDFS) with the new cloud storage launched by Google.
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Teradata Corporation, Microsoft Corporation, Cloudera, Inc, IBM Corporation, Fair, Isaac, and Company (FICO), Tableau Software, Inc, Amazon Web Services, Hitachi Ltd., Datameer, Inc, and MapR Technologies are few of the major vendors participating in the global Hadoop big data analytics market.
These players are anticipated to focus on technological developments over the next few years for capitalizing on the opportunities available in the market place. Some of the organic approaches expected to boost expansion pace are – product innovations, product launches, research & development, technological advancements, etc. In addition, some inorganic methods are also anticipated to be witnessed in the global Hadoop big data analytics market in the forthcoming years, including but not limited to mergers & acquisitions, strategic partnerships, collaborations, etc.
LIST OF TABLES
TABLE 1 BIG DATA ANALYTICS MARKET, BY SOLUTION
TABLE 2 BIG DATA ANALYTICS MARKET, BY SERVICE
TABLE 3 BIG DATA ANALYTICS MARKET, BY APPLICATION
TABLE 4 BIG DATA ANALYTICS MARKET, BY VERTICAL
TABLE 5 BIG DATA ANALYTICS MARKET, BY REGIONS
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LIST OF FIGURES
FIGURE 1 BIG DATA ANALYTICS MARKET: BY SOLUTION (%)
FIGURE 2 BIG DATA ANALYTICS MARKET: BY SERVICE (%)
FIGURE 3 BIG DATA ANALYTICS MARKET: BY APPLICATION (%)
FIGURE 4 BIG DATA ANALYTICS MARKET: BY VERTICAL (%)
FIGURE 5 BIG DATA ANALYTICS MARKET: BY REGION
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