Global Hadoop Market Reflecting a CAGR of 51.0% by 2020 End
Deerfield Beach, FL -- (SBWIRE) -- 11/02/2017 -- Hadoop is an open-source framework that is designed to store and process big data in a distributed environment across clusters of computers. To process and store the structured and unstructured data it uses simple programming models. It is designed to scale up from single servers to thousands of machines, each offering local computation and storage.
According to the report, global demand for Hadoop market was valued at USD 5.0 billion in 2015 and is expected to reach USD 59.0 billion in 2021, growing at a CAGR of 51.0% between 2016 and 2021. Zion Market Research has published a new report titled "Hadoop Market by Type (Software, Hardware, and Services) for BFSI, Government Sector, IT & ITES, Healthcare, Telecommunication, Retails and Others End-Uses: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2015 – 2021."
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The Hadoop market is primarily driven by increasing demand for exploiting the big data coupled with growing volume of structured and unstructured data. Another important factor that is expected to propel the market of Hadoop is growing demand for effective and faster accessibility of data among various industries such as healthcare, banking & finance, manufacturing, biotechnology & defense. However, distributed computing and security issues are major restraint that may slow down the demand of Hadoop. Nonetheless, continuous development and a huge investment for the Hadoop technologies is expected to disclose new opportunities during the future years.
Based on the type, the global market of Hadoop is segmented into software, hardware, and services. Among these types, service segment was one of the leading types. It accounted for over 40% share of the entire market in 2015. The software is a fastest growing segment due to the rising penetration for big data analytics in large enterprises. Additionally, the hardware is likely to moderate growth during the years to come.
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BFSI, government sector, IT & ITES, healthcare, telecommunication, retail, and others are the major verticals included in the global Hadoop market. In 2015 IT & ITES was the largest segment of Hadoop market. It accounted over 30% share of the entire market. Telecommunication was the second largest end-use segment for the same year. Moreover, BFSI, government sector and retails is expected to have promising market growth within the forecast period.
Geographically, North America was dominating the regional market for Hadoop technology in 2015. It accounted over 50% share of the entire revenue generated. Asia Pacific is a fastest growing regional market for Hadoop owing to the huge investment for Hadoop technologies. Growing information technology and telecommunications industries in China and India is attributed to the growth in the Asia Pacific region within the forecast period. Moreover, Europe regional market for Hadoop is expected to have splendid growth due to the steady adoption of Hadoop in Germany and France.
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The key players operative in the global Hadoop market includes Amazon Web Services, Teradata Corporation, Cisco Systems, IBM Corporation, Cloudera, Inc., Datameer, Inc., Oracle Corporation, Hortonworks, Inc., Karmasphere, Inc., and amongst others.