Hadoop Market Analysis and Forecast to 2025 | 43% CAGR Projection over the Next Five Years
Published | April 2019
According to BlueWeave Consulting, the global Hadoop market is anticipated to worth USD 40,689 million by 2021, with a CAGR of 43% during 2019-2025. The Global Hadoop Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to rising demand for faster & effective accessibility of data from different industries like BFSI, retail, and IT& ITES. The demand for Hadoop for its cost-effectiveness and ability to process data faster will boost the Hadoop market in the upcoming year.
Moreover, the major factor driving the market growth is the growing use of Hadoop in retail and supply chain industries for analyzing consumer behavior, manage inventory based on consumer preferences, maintain inventory and space, attract and retain consumers. Furthermore, the expansion of data due to increased usage of electronic devices has demanded the adoption of a reliable tool to manage and utilize these data, thus accelerating the growth of the Hadoop market.
Additionally, increasing investments in data management & technology, a significant expansion in consumer data, and rapidly augmenting demand for big data analytics will contribute to Hadoop market growth during the forecast period. Furthermore, advancements in technology coupled with the rising demand for effective and faster accessibility of data in various industries like Banking, Financial Services, and Insurance (BFSI), telecommunication, and healthcare are significant drivers for the growth of global Hadoop market in the forecast period. The requirement of big data analytics systems to manage the excessive amount of data across various industries will augment the global Hadoop market in the forecast period. Applications of Hadoop in Storing, processing, and analyzing of the explosive amount of data, upgradations, and huge investments will influence the global market in upcoming periods.
Implementation of Hadoop in the Service Sector is projected to be leading the overall market during the forecasted period.
Based on product type, the Hadoop market segmented into Software, Hardware, and Services. Services will dominate the global Hadoop market owing to its increased applications as a consulting, training, and outsourcing tool to maximize efficiency. Efforts to make the software into a real-time application will also enhance the demand of the segment.
IT & ITES is projected to lead the industry for utilizing the applications of Hadoop during the forecast period.
Based on End-User, the global Hadoop market segmented into BFSI, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT& ITES. By usage, IT & ITES will lead the market owing to the growing adoption of Hadoop for managing outsourced data. BFSI is expected to grow at the fastest rate during the forecast period due to the exponential rise in the amount of data storage coupled with increment in the risk & fraud analytics.
North America will account for the lion’s share of the global Hadoop market during the anticipated period.
Based on region, the Hadoop market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America will dominate the world Hadoop market over the forecast period owing to the presence of major companies coupled with the huge adoption of the application of Hadoop in these regions. The Asia Pacific is projected to be the fastest-growing market throughout the forecast period due to the rapid expansion of the IT services industry in emerging countries like India and China.
Global Hadoop Market Competitive Landscape
Companies such as Cloudera Inc., MapR Technologies Inc., IBM Corp., Hortonworks, and EMC Corp., Horton Works, Amazon Web Services, Cisco Systems, Inc., Datameer, Inc., Fair Isaac Corporation, Teradata Corporation, MarkLogic, Pentaho Corporation, MapR Karmasphere Inc, Appistry Inc., Zettaset and Adello AG are the key players for providing Hadoop services.
Browse Detailed Analysis with TOC, “Global Hadoop Market Size, by Type (Software, Hardware, and Services), by End-Use Industry (BFSI, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT& ITES), by Region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America); Growth Potential, Trends Analysis, Competitive Market Size and Forecast, 2019-2025.”