Albany, NY -- (SBWIRE) -- 05/24/2018 -- The global market for Hadoop has gained unanticipated momentum in recent times, due to the ever-expanding requirements for data storage and management. When Hadoop came into existence, none were aware of the fact that it would emerge as a behemoth in the domain of data storage, processing, and management. Hadoop is essentially a Java-based, open source framework that helps in integrating the network of several computers to store huge data sets. Omnipresence of computerization and the growth of several industries has formed a niche for Hadoop across all of the industries. It is anticipated that the global market for Hadoop would experience increased demand over the coming years. Several factors could be responsible for the growth of the market including the inclination of industries towards developing a robust IT infrastructure.

Transparency Market Research (TMR) estimated the progress of the global market for Hadoop over the coming years. The market was valued at US$8,166.0 mn in 2017 and is expected to elevate to a stellar value of US$37,759.0 mn by 2023. Furthermore, the global market is expected to grow at an astral CAGR of 29% between 2017 and 2023, which reflects the commendable growth prospects of the market. Based on end-use, 19.20% of the market share was held by the IT and ITES segment.

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1. Utility of Big Data

The management of large chunks of data is an important task for businesses operating in a wide range of industries. In this scenario, Hadoop has come to the rescue of large as well as small businesses and has given them a platform to manage big data. Relationship Database Management System (RDBMS) is supposedly a predecessor to Hadoop but the latter incurs lower costs of maintenance. Hence, businesses have shifted to Hadoop and have given an impetus to the global market. Hadoop is also more advantageous on account of its ability to run on commodity hardware accounts, thus, propelling demand within the global Hadoop market.

The abundance of unstructured data flowing in from a range of sources such as e-mails, apps, and other in-house tasks has also given a boost to the demand for Hadoop. The usage of electronic devices, especially mobile phones, has also given an impetus to the growth of the global Hadoop market.

2. Rampant Mobile Usage in Asia Pacific

The market in Asia Pacific is expected to clock in a substantial market share over the coming years. The high population of the region coupled with the widespread usage of mobile phones has resulted in the generation of tons of data. Currently, North America leads the Hadoop market in terms of market share majorly due to the technological and digital prominence of the region.

3. Mergers and Acquisitions

The leading players in the global market for Hadoop are anticipated to acquire the smaller ones in order to expand their geographical reach. Moreover, a nascent strategy of the market players is to device their own version of Hadoop to enhance their prospects of growth. Some of the key players in the market are EMC Corp., Cloudera Inc., MapR Technologies Inc., Hortonworks Inc., and IBM Corp.

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