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Hadoop Big Data Analytics Market Size And Forecast
Hadoop Big Data Analytics Market size was valued at USD 61.6 Billion in 2024 and is projected to reach USD 968.89 Billion by 2031, growing at a CAGR of 45.36% during the forecast period 2024-2031.
The increasing demand for the digital transformation of organizations is the crucial aspect of the rise in the market revenue of Hadoop Big Data Analytics as well as the growing investments in analytics will foster market growth. The Global Hadoop Big Data Analytics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Hadoop Big Data Analytics Market Definition
Hadoop is an open-source framework that permits big data storage & analytics and uses simple programming models across distributed computer clusters. Big data is a massive volume of information that can be unstructured as well as structured. Owing to the sheer volume of such information, it cannot be stored and processed by conventional systems. Moreover, it supports organizations to understand the trend and aid in real-time corporate level decision making. With this solution, information can be stored, analyzed, and mined to fulfill the bottom-line objective. It helps in modernizing the business models and maximizing the revenue for the service providers.
The information accumulates at a tremendously high pace considering volume, variety, and velocity due to the day-to-day operations of the industries. In such a situation, organizations face many technical difficulties during collection, storage, analysis, and reporting through interlinked and shared dashboards. Managing such information requires high-quality data management systems and appropriately channeled information flow. Companies need state-of-the-art big data resolutions to gather, store, examine, picture, and make future forecasts from the evidence obtained from massive information volumes.
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Global Hadoop Big Data Analytics Market Overview
Close operational scrutiny by the industry participants to critically observe their daily operations has given rise to big data. Such a step is taken majorly to gain a competitive advantage over the rival companies and gain a better insight into their strategies. Such a strategic market trend is presumed to expand further the Hadoop big data analytics market.
Industry players are supposed to invest in the next generation solutions which are forecasted as new opportunities for the industry growth and development. This solution is intended to be implemented by different companies to remain competitive in the market and gain better industry insights. Demand for a common unified platform for information storage will further complement the Hadoop big data analytics market growth.
Deficiency in safety and lack of proper big data regulatory framework is presumed to hamper the industry growth. Skilled personnel shortage that can convert machine language to operational solutions for data warehousing and advanced analytics will further reduce the rate of increase over the eight years. Big data safety and security intelligence solutions are areas that are presumed to offer ample growth opportunities for industry participants over the forecast period.
Companies are spending heavily on R&D initiatives for developing integrated solutions that provide superior advantages. End-use industries are taking extra efforts to minimize hardware costs to hold market position and gain a competitive edge in the Hadoop big data analytics market.
Network optimization, churn prevention, location-based initiatives, and social media & sentiment analysis, and weather forecasting are the key applications for this market. Network optimization helps in the real-time study and can be used for destruction control applications. Information services related to accurate location and exact information needs are made possible by big data analytics. Information collected from social media and are subjecting this information to detailed emotion analysis is expected to offer ample growth opportunities for the related companies.
Hadoop Big Data Analytics Market Segmentation Analysis
The Global Hadoop Big Data Analytics Market is segmented on the Application, Vertical, Component, and Geography.
Hadoop Big Data Analytics Market, By Application
- Customer Analytics
- Internet of Things (IoT)
- Merchandising & Supply Chain Analytics
- Offloading Mainframe Application
- Others
Based on Application, the market is bifurcated into Customer Analytics, Internet of Things (IoT), Merchandising & Supply Chain Analytics, Offloading Mainframe Application, and Others. The market based on application, the risk & fraud analytics segment is expected to hold the largest shares of the market during the forecast period. The growth of this segment is attributed to the large adoption of Hadoop big data analytics across various industry verticals for preventing any probable security attacks and frauds.
Hadoop Big Data Analytics Market, By Vertical
- Energy & Utility
- IT & Telecommunication
- Media & Entertainment
- Retail & Consumer Goods
- Others
Based on Vertical, the market is bifurcated into Energy & Utility, IT & Telecommunication, Media & Entertainment, Retail & Consumer Goods, and Others. The BFSI segment accounted for the largest market share and is likely to witness a maximum CAGR during the forecast period. Banking, financial services, and insurance involve a tremendous amount of data generation. Being a highly regulated sector, it requires dynamic solutions. The legacy platforms used by organizations in the sector are being supplanted by advanced software frameworks such as Hadoop big data analytics.
Hadoop Big Data Analytics Market, By Component
- Solutions
- Services
Based on Component, the market is bifurcated into Solutions and Services. The solution segment is expected to be a major contributor to the market during the forecast period. This is attributable to the increasing demand for handling huge data sets on distributed computing environments with the help of extremely scalable and cost-effective solutions provided by Hadoop.
Hadoop Big Data Analytics Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of regional analysis, the Global Hadoop Big Data Analytics Market is classified into North America, Europe, Asia Pacific, and Rest of the world. North America and Europe dominated this market in the recent past and are expected to show a similar trend over the forecast period. Developing regions such as the Asia Pacific is projected to observe rapid growth over the forecast period owing to rapid industrialization and urbanization. Government initiatives such as creating smart cities are presumed to open up ample growth opportunities over the next eight years.
Key Players
The “Global Hadoop Big Data Analytics Market” study report will provide a valuable insight with an emphasis on the global market. The major players in the market are IBM Corporation, Microsoft Corporation, Amazon Web Services, Teradata Corporation, Tableau Software Inc. Cloudera Inc., Pentaho Corporation, Marklogic Corporation, SAP SE, Pivotal Software, Inc.
The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Key Developments
Partnerships, Collaborations and Agreements
- Cloudera and IBM established a cooperation in June 2019 to deliver AI solutions and enhanced analytics to Apache Hadoop-based enterprises. Data-driven decisions will be made faster as a result of our collaboration.
Mergers and Acquisitions
- Cloudera bought Arcadia Data in September 2019 to improve data analytics time-to-insight. Cloudera and Arcadia Data integrated their technologies after the acquisition. Companies were able to receive the information they needed for business decisions, thanks to these linked technology.
- HPE purchased MapR’s business assets in August of this year. HPE’s intelligent data platform capabilities were expedited as a result of this acquisition. HPE was able to offer a whole suite of technologies to power AI and analytics applications as a result of this collaboration. HPE was able to improve its ability to manage customer data assets from the edge to the cloud as a result of this.
Product Launches and Product Expansions
- Google Cloud will release BigQuery Omni powered by Anthos for Multi-Cloud Analytics in July 2020. Without having to pay expensive egress fees for transporting data from other cloud providers to Google Cloud, BigQuery Omni gives businesses the freedom they need to break down silos and develop actionable business insights. It will enable clients to access, evaluate, and discover new insights in a safe and cost-effective manner, enabling corporate innovation.
- HPE Ezmeral, a new software portfolio and brand that will accelerate data-driven change across enterprises, will be introduced in June 2020. Container orchestration and management, AI/ML and data analytics, cost control, IT automation and AI-driven operations, and security are all part of HPE Ezmeral’s comprehensive offering.
- IBM launched revolutionary AI-powered solutions in April 2020 to aid the Health and Research Community in discovering medical insights and cures for COVID-19.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period |
2021-2031 |
| Base Year |
2024 |
| Forecast Period |
2024-2031 |
| Historical Period |
2021-2023 |
| Unit |
Value (USD Billion) |
| Key Companies Profiled |
IBM Corporation, Microsoft Corporation, Amazon Web Services, Teradata Corporation, Tableau Software, Inc., Cloudera Inc., Pentaho Corporation, Marklogic Corporation, SAP SE and Pivotal Software, Inc. |
| Segments Covered |
By Application, By Vertical, By Component, By Geography |
| Customization Scope |
Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Market Research
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Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments (which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes an in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
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Customization of the Report
• In case of any Queries or Customization Requi”
