Hadoop Big Data Analytics Market Scope
The Hadoop Big Data Analytics Market 2020 can possibly achieve a
striking CAGR of 36.37% between 2018 and 2023 (review period), confirms Market
Research Future (MRFR). The market can stand at a valuation of over USD 52
billion by 2023-end, reveals MRFR.
Primary Drivers and Main Barriers
MRFR anticipates a brisk growth of the hadoop big
data analytics market in the near future, thanks to the tsunami of data being
generated across various industry verticals, which is only expected to surge
further in the coming years. Big data analytics are projected to be used by
leading market contenders to facilitate growth, productivity as well as
innovation.
The investments being made by market participants in
next generation solutions has increased tremendously over the years, which are
also anticipated to induce industry growth. Companies are increasingly churning
out highly advanced integrated solutions with superior features to expand their
customer base in the market. End-users are doing everything in their capacity
to bring down the hardware costs, which not only strengthens their market
position but also boosts the demand for Hadoop big data analytics.
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Careful operational scrutiny by these players to
precisely track everyday operations has boosted big data. These efforts are
some of the most effective strategies that are used by companies to achieve a
better position in the global market. Data experts view this as a significant
trend that can lead considerable expansion of the Hadoop big data analytics
market in the following years.
The emerging trend of visualization-backed data
discovery tools is being continuously explored by organizations to reap more
benefits from Big Data. This trend is also picking up speed in the market on
the back of increasing availability of mobile devices. Organizations largely
dependent on centralized development of reports usually conducted by highly
skilled experts are now opting for the quicker and more cost-effective business
intelligence model that leverages the dynamic combination of mobile workforce
and Big Data.
Market Segmentation
Component, application and end-user are the primary
segments depending on which the study of the market has been carried out in the
MRFR report.
Component-dependent market segmentation comprises
Software as well as Services (which include Managed Services, Training &
Support and Consulting & Development,). In the year 2017, the largest share
of 71.05% was claimed by the software segment, which is presumed to advance at
a pace of 35.69% in the ensuing period.
Applications of Hadoop big data analytics are
Internet of Things (IoT), Risk & Fraud Analytics, Security Intelligence,
Merchandising & Supply Chain Analytics, Customer Analytics, Merchandising
Coordination Service, Distributed Coordination Service, and others. In 2017,
risk & fraud analytics emerged as the leading segment with a share of
27.75% at a value of USD 2.40 Billion. In addition, the segmental progression
has been estimated to be at a rate of 37.30%, because of the rising focus on
risk and fraud analysis in businesses across the world.
The primary end-users in the market are Healthcare,
Transportation & Logistics, Government & Defense, IT &
Telecommunication, BFSI, Manufacturing, and Others. In 2017, BFSI was ahead of
other end-users in the market with the biggest share. The segment also exhibits
the potential to procure a growth rate of 35.25% during the conjectured period.
Regional Study
The regional study of the market for Hadoop big data
analytics comprises North America, Europe Asia Pacific or APAC and the Rest of
the World or RoW.
In 2017, studies revealed North America as the most
profitable market with a share of 54.44% at a value of USD 4.71 billion. The
North American market is all set to gain high traction globally, at a rate of
34.90% over the forthcoming period. Countries like the United States (U.S.)
along with Canada, is quite advanced, with respect to technology. This means faster
adoption of state of the art technologies and a massive foothold of Big Data
analytics providers. The rapid expansion of business insights in the region
also warrants substantial market growth.
Developing countries like India and China in the
APAC market are growing rapidly on account of the surge in industrialization as
well as urbanization. The government-backed initiatives like smart city concept
are emerging quite swiftly in the region, because of which the Hadoop big data
analytics market is presumed to perform incredibly in the next few years.
Significant Competitors
Significant competitors in the Hadoop big data
analytics industry are MapR Technologies (U.S.), Tableau Software, Inc. (U.S.),
Karmasphere, Inc. (U.S.), Microsoft Corporation (U.S.), Cloudera, Inc. (U.S.),
Teradata Corporation (U.S.), Pentaho Corporation (U.S.), Datameer, Inc. (U.S.),
IBM Corporation (U.S.), Amazon Web Services (U.S.), to list a few.
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