Hadoop Market to grow at a CAGR of 39.49% during the period 2017-2021
December 06, 2017 --
Hadoop is a framework used in storage and processing of big data sets. The software is being used by various enterprises to collate the growing structured and unstructured data. It is used across various machines in a network to process data more efficiently.
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The funding of over USD 100 million of Hortonworks by investors have deemed its accurate labeling of a unicorn enterprise. This in turn led to investment of nearly USD 740 million by Intel in Cloudera has boosted the importance of the software. The extended funding allowed the company to increase its reach to enterprise functions such as security, data integrity, and operation management. In addition, the need for advanced data analytics by enterprises is expected to spur market growth.
The compatibility of Hadoop to work with the existing network architecture is expected to entice customers interested in scaling their business at low costs. However, lack of qualified personnel and low awareness regarding the software in small and medium enterprises can restrict market growth to a certain extent. The introduction of Hadoop 2.0 is expected to address shortage of skilled and qualified professionals by running a variety of applications simultaneously in real-time.
The global Hadoop market is segregated by end user and region. Based on end user, the market is divided into communications, healthcare, government, banking, financial services and insurance (BFSI), and others.
Regions covered in the Hadoop market report include Asia Pacific (APAC), Europe, Middle East, and Africa (EMEA), and Americas. The Americas market is expected to perform well over the forecast period due to hefty investments in healthcare and BFSI sectors. The growing retail sector due to consumer preference for online shopping is also projected to contribute to global market revenues. The EMEA Hadoop market is anticipated high growth due to investment by various governments in cross border identification programs. The United Kingdom (UK) government has decided to deploy the software across public sectors to strengthen their consumer relations and to minimize tedious work.
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The APAC Hadoop market is projected to display spectacular growth due to economical development in Japan, China, and India. Recently, Findability Sciences, a solutions provider in data science and artificial intelligence, entered into a joint venture with SoftBank Corporation in order to provide their services across various verticals such as BFSI, human resources, manufacturing, and retail. In addition, organizations such as libraries are adopting Hadoop to improve their search and accessibility features. The India market within APAC has used the software to manage its national biometric identity scheme, AADHAAR.
Prominent players in the Hadoop market include IBM; Microsoft Corporation; Hortonworks; Amazon.com, Inc.; and MapR Technologies, Inc. Novel product launches, partnerships, and expansion agreements are the primary strategies used by these players to increase their respective market share. Recently, Microsoft Corporation acquired Revolution Analytics to attain a larger consumer base. The ‘R’ language developed by the latter caters to large Hadoop systems and data warehouses and can assist the former in developing better search algorithms.
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