According to us, The Global Hadoop Market is expected to grow with a significant rate during the forecast period 2019-2025, owing to rising demand for faster & effective accessibility of data from different industries like BFSI, retail, and IT& ITES. The demand of Hadoop for its cost-effectiveness and ability to process data faster will boost the Hadoop market in the upcoming year. Moreover, the major factor driving the market growth is the growing use of Hadoop in retail and supply chain industries for analyzing consumer behavior, manage inventory on the basis of consumer preferences, maintain inventory and space, attract and retain consumers. Furthermore, expansion of data due to increased usage of electronic devices has demanded the adoption of reliable tool to manage and utilize these data thus accelerating the growth of Hadoop market.
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Additionally, increasing investments in data management & technology, major expansion in consumer data and rapidly augmenting demand for big data analytics will contribute to Hadoop market growth during the forecast period. Furthermore, advancements in technology coupled with the rising demand for effective and faster accessibility of data in various industries like Banking, Financial Services and Insurance (BFSI), telecommunication and healthcare are major drivers for the growth of global Hadoop market in the forecast period. The requirement of big data analytics systems to manage the excessive amount of data across various industries will augment the global Hadoop market in the forecast period. Applications of Hadoop in Storing, processing, and analysing of the explosive amount of data, up gradations, and huge investments will influence the global market in upcoming periods.
Implementation of Hadoop in the Service Sector is projected to be leading the overall market during the forecasted period.
On the basis of product type, the Hadoop market has been segmented into Software, Hardware, and Services. Services will dominate the global Hadoop market owing to its increased applications as a consulting, training and outsourcing tool to maximize efficiency. Efforts to make the software into a real time application will also enhance the demand of the segment.
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Global Hadoop Market Competitive Landscape
Companies such as, Cloudera Inc., MapR Technologies Inc., IBM Corp., Hortonworks, and EMC Corp. , Horton Works, Amazon Web Services, Cisco Systems, Inc., Datameer, Inc., Fair Isaac Corporation, Teradata Corporation, MarkLogic, Pentaho Corporation, MapR Karmasphere Inc, , Appistry Inc., Zettaset and Adello AG are the key players for providing Hadoop services.
IT & ITES is projected to lead the industry for utilizing the applications of Hadoop during the forecast period
On the basis of End-User, the global Hadoop market has been segmented into BFSI, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT& ITES. By usage, IT & ITES will lead the market owing to growing adoption of Hadoop for managing outsourced data. BFSI is expected to grow at the fastest rate during the forecast period owing to the exponential rise in the amount of data storage coupled with increment in the risk & fraud analytics.
North America will account for the lion’s share of the global Hadoop market during the anticipated period.
On the basis of region, the Hadoop market has been segmented into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America. North America will dominate the world Hadoop market over the forecast period owing to the presence of major companies coupled with the huge adoption of application of Hadoop in these regions. The Asia Pacific is projected to be the fastest growing market throughout the forecast period due to the rapid expansion of IT services Industry in emerging countries like India and China.
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The in-depth analysis of the report provides the growth potential, upcoming trends and statistics of Global Hadoop Market size & forecast. The report promises to provide state-of-the-art technology of Hadoop production and industry insights which help decision makers to take sound strategic decisions. Furthermore, the report also analyzes the market drivers and challenges and competitive analysis of the market.