Global Hadoop Market to Show High Double-Digit Growth Owing to Exponential Rise in Big Data

Global demand for hadoop was valued at USD 4.1 billion in 2014, and is expected to reach USD 37.7 billion in 2023, growing at a CAGR of 28.4% between 2015 and 2023.

Albany, NY, June 01, 2016 --( Considering that Hadoop is one of the most efficient tools to manage massive amounts of data today, the global market for Hadoop has been witnessing rapid expansion since its initial release in 2011. According to a report recently added to the vast database of Market Research Hub, the demand for Hadoop solutions stems from escalating volumes of structured as well as unstructured data across industries such as banking, financial services, and insurance (BFSI), media and entertainment, retail, healthcare, and telecommunication.

The 130-page research publication 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.”

Developed by Apache Software Foundation, Hadoop is an open-source software framework that is used for the distributed storage and processing of large data sets. Written mostly in the Java programming language, Hadoop is designed with the assumption that common hardware failures should be handled by the framework.

The report studies the global Hadoop market on three fronts: Type, end use, and geography. By type, the Hadoop market has been segmented into hardware, software, and services. Hardware includes server and storage; software includes performance monitoring software and application software; services include training and outsourcing, middleware and support services, consulting, and integration and deployment. By geography, the worldwide Hadoop market has been divided into North America, Europe, Asia Pacific, and Rest of the World. On the basis of end-use industries, the market has been segmented into government, natural resources, life science and healthcare, manufacturing, BFSI, IT and ITES, trade and transport, media and entertainment, telecommunication, and retail.

The global Hadoop market, according to the findings of the report, is projected to register an impressive 28.4% CAGR from 2015 to 2023, rising from a value of US$4.1 bn in 2014 to US$37.7 bn by 2023. This remarkable growth can be attributed to a number of macro and micro factors, including the exponential rise in volumes of unstructured data, the growing scope of Hadoop in filling the gap between managers and database management, the swift and cost-effective processing of data, and the surging demand for big data analytics.

The emerging markets of Asia Pacific as well as Europe and the rising scope of mergers and acquisitions in the Hadoop market present lucrative options for new and existing players. In contrast, the lower adoption of Hadoop architecture and the dearth of qualified and experienced professionals in the field act as impediments to the global Hadoop market.

Hortonworks, Inc., Karmasphere Inc., Cisco Systems, Inc., Pentaho, IBM Corp., Cloudera Inc., EMC Corporation, Teradata Corp., MapR Technologies Inc., and Zettaset, Inc. are some of the top companies competing in the global Hadoop market.

This report is designed to help clients gain insight into the various factors governing the Hadoop market. The use of the latest business intelligence tools ensures that readers are provided with a 360-degree perspective of this market and can devise useful and actionable strategies based on the findings of the report.

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