Hadoop Big Data Analytics Market Summary
Market Research Future (MRFR), in its research
report, highlights that the global Hadoop Big Data Analytics Market demand 2020 is projected to
rise rapidly over the forecast period, ensuring substantial market valuation of
more than USD 52 billion and a healthy 36.37% CAGR over the review period.
Drivers and Restraints
Big data analytics is projected to be used by
leading contenders in the market to accelerate growth, productivity and
innovation. Those players' close organizational diligence to monitor routine
activities reliably has improved big data. These efforts are among the most
effective strategies that companies use to achieve a better position in the
global marketplace. This is seen by data experts as a significant trend that
can lead to significant expansion of the Hadoop Big Data Analytics market in
the following years.
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Market participants' investments in next-generation
solutions have increased tremendously over the years, which are also expected
to trigger growth in the industry. Increasingly , businesses are churning out
technologically specialized, integrated solutions with superior features to
extend their industry customer base. End users do their best to reduce the cost
of hardware, which not only strengthens their market position but also boosts
the demand for Hadoop Big Data Analytics.
Organizations are continuously exploring the
emerging trend of visualization-backed data discovery tools to reap more
benefits from Big Data. This trend is also picking up momentum in the market as
mobile devices become more available. Organizations largely dependent on
centralized report development usually conducted by highly skilled experts are
now opting for the more expeditious and cost-effective business intelligence
model that leverages the dynamic combination of mobile workforce and big data.
Segmental Analysis
Component, application, and end-user are the primary
segments according to which market study was conducted in the MRFR report.
Market segmentation based on the component includes
Software as well as Services (including Managed Services, Training &
Support and Consulting & Development,). The software segment claimed the
largest share of 71.05 per cent in 2017, which is presumed to advance at a rate
of 35.69 per cent in the subsequent period.
Hadoop Big Data Analytics applications include the
Internet of Things ( IoT), Risk & Fraud Analytics, Security Intelligence,
Marketing & Supply Chain Analytics, Customer Analytics, Merchandising
Coordination Service, Distributed Coordination Service, and others. Danger
& fraud analytics emerged in 2017 as the leading market with a 27.75 percent
share at a value of USD 2.40 trillion. Furthermore, the segmental progression
was calculated at a rate of 37.30 percent due to the growing emphasis on the
study of risk and fraud in companies around the world.
Healthcare, Transportation & Logistics, Government
& Defence, IT & Telecommunication, BFSI, Manufacturing, and Others are
the primary end-users on the market. BFSI stood ahead of other end-users with
the largest share in the market in 2017. The segment also has the potential to
deliver a growth rate of 35.25 per cent over the assumed period.
Regional Evaluation
The global business regional analysis was conducted
in four major regions including Asia Pacific , North America, Europe and the
rest of the world.
Studies revealed North America as the most
profitable market in 2017, with a share of 54.44 per cent worth USD 4.71
billion. The North American market is all set to gain worldwide high traction
at a rate of 34.90 per cent over the coming period. Countries like the U.S.,
along with Canada, are very advanced in terms of technology. This means faster
adoption of state-of-the-art technologies, and a massive foothold from
providers of Big Data analytics. Also justifying substantial market growth is
the rapid expansion of business insights in the region.
Developing countries such as India and China are
increasing rapidly in the APAC market, due to the increase in industrialization
and urbanization. Government-backed initiatives such as the smart city concept
are emerging quite quickly in the region, with the Hadoop big data analytics
market presuming to perform incredibly in the coming years.
Competitive Analysis
The major market players operating in the global
market as identified by MRFR are Teradata Corporation, Cloudera, Inc, Microsoft
Corporation, IBM Corporation, Tableau Software, Inc, Fair, Isaac and Company
(FICO), Amazon Web Services, Datameer, Inc, Hitachi Ltd., and MapR
Technologies.
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