Global Hadoop Market to Register Strong 28.4% CAGR between 2015 and 2023

ALBANY, USA, 2018-May-14 — /EPR Network/ —The growing demand for faster and effective data accessibility across industries is expected to stimulate the global Hadoop market to expand at a CAGR of 28.4% between 2015 and 2023, rising from US$4.12 bn in 2014 to US$37.76 bn by the end of 2023, states a latest report that is now available on Market Research Reports Search Engine (MRRSE). The report is titled ‘Hadoop Market (By Type – Software, Hardware and Services, By End Use Industry – BFSI, Retail, Telecommunication, Media Entertainment, Manufacturing, Natural Resources, Trade and Transport, Government, IT & ITES and Others) – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023.’

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Hadoop is a part of big data and is focused on solutions for storing files and processing data. The rising demand for staying connected with people separated by geographies has led to the increased adoption of the internet, and more lately, the internet of things (IoT). The demand for smart phones and tablets has risen as a result of the growing demand for IoT, which has led to a subsequent rise in the amount of data generated. This need to store, process, and analyze humungous amounts of data led to the concept of big data and cloud storage. Hadoop is thus, helping organizations to store and manage this unstructured data, which is typically generated in large volumes.

The major driver for the Hadoop market is the growing volume of unstructured data across the globe. The enhancements and constant developments in Hadoop technology will further fuel the demand for Hadoop. The growing popularity of big data will also prove to be beneficial for the market as it will lead to an increased demand for big data analytics. Moreover, with big companies such as Intel and IBM developing their own versions of Hadoop, the popularity of Hadoop is further expected to increase.

On the basis of type, the global Hadoop market is segmented into hardware, software, and services. Out of these, the services segment is projected to account for the largest share in the global Hadoop market in the period between 2015 and 2023. The software segment is expected to improve significantly during the forecast period and become the fastest-growing segment. The hardware segment will grow at a steady pace throughout the forecast period.

The global Hadoop market is segmented on the basis of end use industry into retail, banking, financial services and insurance (BFSI), telecommunication, manufacturing, IT and ITES, natural resources, government, and trade and transport. Out of these, the IT and ITES segment is expected to dominate the global Hadoop market during the period from 2015 to 2023. The BFSI segment is expected to witness the fastest growth in the global Hadoop market during the forecast period.

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Based on geography, the global Hadoop market is segmented into Europe, North America, Asia Pacific, and Rest of the World. North America held a share of more than 50% in the global market. Asia Pacific will witness the fastest growth and Europe will maintain a steady growth.

Key market players profiled in the report for the purpose of study include: IBM Corporation, Hortonworks, Inc., Cloudera, Inc., MapR Technologies, Inc., EMC Corporation, Karmasphere, Inc., Cisco Systems, Inc., Zettaset, Inc., Teradata Corporation, and Pentaho.

The global Hadoop market is segmented as follows:

Type

• Software
• Hardware
• Services

End Use Industry

• Banking, Financial services and Insurance (BFSI)
• Retail
• Manufacturing
• Telecommunication
• Media Entertainment
• Natural Resources
• Trade and Transport
• Government
• IT and ITES
• Others

Geography

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific (APAC)
  • China
  • India
  • Japan
  • Singapore
  • Australia
  • Hong Kong
  • Rest of APAC
• Rest of the World (RoW)
  • Middle East
  • Africa
  • South America

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