Global Hadoop Market To Tap USD 37,759.0 million in 2023 Propelled by Increasing Demand from BFSI, Retail, Government Se
According to Transparency Market Research (TMR), the global Hadoop market is dominated by Cloudera, Inc. and Hortonworks. These companies jointly accounted for a 41% of the global Hadoop market in 2014. Other major players operating in the global Hadoop market include IBM Corporation, Teradata Corporation, Cisco, EMC Corporation, MapR, and Pentaho.
“The primary driver for the global Hadoop market is the increasing volume of unstructured data. Due to the increasing popularity of social media and various photo sharing websites, the amount of unstructured data generated on the Internet is growing rapidly. This has overburdened the conventional data management systems, which were built to deal with the largely structured data being generated at the time,” explained TMR’s lead analyst.
Increasing Online Retail Sector Drives Global Hadoop Market
The ability to deal with unstructured data is becoming crucial in today’s competitive market. Big data analytics is vital for modern corporate entities, as it allows them to better understand consumer behavior and formulate market strategies based on these insights. With the online retail sector set to grow at a steady rate in the coming years, big data analytics is set to become increasingly important. This is a major driver for the global Hadoop market.
Free PDF For Full Details with Technological breakthroughs is @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=719
The steady development of Hadoop technology and its associated services has also been beneficial for the global Hadoop market, as the technology on offer in the market has kept pace with the changing dynamics of the data being generated. Major computing giants such as IBM and Intel have now also started to develop their own versions of Hadoop software, which has helped the global Hadoop market keep pace with the dynamic technological scenario.
Hadoop Services Likely to Dominate Demand
By product type, the global Hadoop market is segmented into software, services, and hardware. Of these, the services segment is likely to dominate the global Hadoop market in the coming years, though the software segment is likely to exhibit the highest growth rate. The increasing research into improving Hadoop software and services is likely to come to fruition over the coming years. Hadoop products are also expected to exhibit a steady growth rate over the forecast period.
By application, the BFSI, retail, government, and telecommunications sectors are expected to take on an important role in the global Hadoop market in the coming years. These sectors are among the most voluminous processors of data and thus require a reliable data management solution. The government sector is becoming a major end user of Hadoop, with several governments around the world realizing its benefits and utilizing it for storing demographic data. The increasing demand for smart cities is another major factor driving the demand from the global Hadoop market.
Regionally, North America is expected to remain at the top of the global Hadoop market hierarchy due to the extensive financial support offered to research initiatives looking to improve data management technology. The dominant 50% share of the North America Hadoop market can also be credited to the increasing presence of digitalized urban infrastructure.
The overall opportunity in the global Hadoop market was worth US$4.1 bn in 2014, according to Transparency Market Research. Exhibiting a stellar 28.4% CAGR from 2015 to 2023, the market is expected to rise to a valuation of more than US$37.7 bn.
The data in this preview has been taken from TMR’s study on the global Hadoop market, titled ‘Hadoop Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.’ Report - http://www.transparencymarketresearch.com/pressrelease/hadoop-market.htm
The global Hadoop market is segmented as follows:
Global Hadoop Market, By Type
Software
Hardware
Services
Global Hadoop Market, By End use Industry
Banking, Financial services and Insurance (BFSI)
Retail
Manufacturing
Telecommunication
Media Entertainment
Natural Resources
Trade and Transport
Government
IT and ITES
Others
Global Hadoop Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.
“The primary driver for the global Hadoop market is the increasing volume of unstructured data. Due to the increasing popularity of social media and various photo sharing websites, the amount of unstructured data generated on the Internet is growing rapidly. This has overburdened the conventional data management systems, which were built to deal with the largely structured data being generated at the time,” explained TMR’s lead analyst.
Increasing Online Retail Sector Drives Global Hadoop Market
The ability to deal with unstructured data is becoming crucial in today’s competitive market. Big data analytics is vital for modern corporate entities, as it allows them to better understand consumer behavior and formulate market strategies based on these insights. With the online retail sector set to grow at a steady rate in the coming years, big data analytics is set to become increasingly important. This is a major driver for the global Hadoop market.
Free PDF For Full Details with Technological breakthroughs is @ http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=719
The steady development of Hadoop technology and its associated services has also been beneficial for the global Hadoop market, as the technology on offer in the market has kept pace with the changing dynamics of the data being generated. Major computing giants such as IBM and Intel have now also started to develop their own versions of Hadoop software, which has helped the global Hadoop market keep pace with the dynamic technological scenario.
Hadoop Services Likely to Dominate Demand
By product type, the global Hadoop market is segmented into software, services, and hardware. Of these, the services segment is likely to dominate the global Hadoop market in the coming years, though the software segment is likely to exhibit the highest growth rate. The increasing research into improving Hadoop software and services is likely to come to fruition over the coming years. Hadoop products are also expected to exhibit a steady growth rate over the forecast period.
By application, the BFSI, retail, government, and telecommunications sectors are expected to take on an important role in the global Hadoop market in the coming years. These sectors are among the most voluminous processors of data and thus require a reliable data management solution. The government sector is becoming a major end user of Hadoop, with several governments around the world realizing its benefits and utilizing it for storing demographic data. The increasing demand for smart cities is another major factor driving the demand from the global Hadoop market.
Regionally, North America is expected to remain at the top of the global Hadoop market hierarchy due to the extensive financial support offered to research initiatives looking to improve data management technology. The dominant 50% share of the North America Hadoop market can also be credited to the increasing presence of digitalized urban infrastructure.
The overall opportunity in the global Hadoop market was worth US$4.1 bn in 2014, according to Transparency Market Research. Exhibiting a stellar 28.4% CAGR from 2015 to 2023, the market is expected to rise to a valuation of more than US$37.7 bn.
The data in this preview has been taken from TMR’s study on the global Hadoop market, titled ‘Hadoop Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.’ Report - http://www.transparencymarketresearch.com/pressrelease/hadoop-market.htm
The global Hadoop market is segmented as follows:
Global Hadoop Market, By Type
Software
Hardware
Services
Global Hadoop Market, By End use Industry
Banking, Financial services and Insurance (BFSI)
Retail
Manufacturing
Telecommunication
Media Entertainment
Natural Resources
Trade and Transport
Government
IT and ITES
Others
Global Hadoop Market, By Geography
North America
Europe
Asia Pacific
Rest of the World
About Us
Transparency Market Research (TMR) is a market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants, use proprietary data sources and various tools and techniques to gather, and analyze information. Our business offerings represent the latest and the most reliable information indispensable for businesses to sustain a competitive edge.
Each TMR syndicated research report covers a different sector - such as pharmaceuticals, chemicals, energy, food & beverages, semiconductors, med-devices, consumer goods and technology. These reports provide in-depth analysis and deep segmentation to possible micro levels. With wider scope and stratified research methodology, TMR’s syndicated reports strive to provide clients to serve their overall research requirement.