Hadoop Market (Type - Software, Hardware, and Services; End use - Banking, Financial Services, and Insurance, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT and ITES) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2023

Albany, NY -- (SBWire) -- 04/17/2018 --Majorly fuelling the global Hadoop market cost effectiveness and faster processing of data. Hadoop than its predecessor relational database management system (RDBMS) technology. The difference in maintenance cost gives Hadoop an advantage over RDBMS. In addition, ability of Hadoop to run on commodity hardware accounts for its preference among all industrial sectors where large volume of data is generated on a daily basis. Advantages of low cost data storage and capability to manage and access massive amount of data is stoking the adoption of Hadoop.

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The exponential growth of unstructured data due to technological advancements and incessant use of electronic devices is favoring the Hadoop market. Massive volume of unstructured data such as office productivity documents, e-mail, and web content from a host of end use industries is boosting the popularity of Hadoop for appropriate structuring of this data.

Furthermore, in developing countries, cell phones equipped with high end internet connectivity are likely to gain popularity for both commercial and personal use. Consumers are increasingly using electronic devices for online shopping, bill payment, and information exchange leading to generation of avalanche of data. Organizations are thus seeking a reliable tool to manage this data to be utilizable for business gains.

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The rising demand for big data analytics is a key factor propelling the Hadoop market. Businesses across industry sectors are increasingly seeking a reliable tool to structure and manage big data for business advantage. Large companies such as IBM and Intel are also developing their own version of Hadoop to suit their business needs. In addition to usability and application features, cost effectiveness of Hadoop is adding to its popularity in the big data market.