Hadoop Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI2430
Hadoop Market size is witnessing a dynamic growth owing to its cost-effectiveness and efficiency as compared to the traditional data analysis tools. Factors such as fast processing of structured and unstructured data, fault tolerance, flexibility, and lower server cost are the major drivers of the market. The enterprise data is created from various web-based searches, cloud-based applications, and social networks, which are the fastest growing data segments. Hence, organizations require Hadoop-based systems to manage the huge amount of data efficiently.
Hadoop is an open source software solution for storing and distributing big data, which includes texts, videos, images, and running applications. It has a huge processing power and fault tolerance capabilities, protecting the data and applications against hardware failures. Growing big data concerns due to the rise in volume and amplified need for conversion of information used by enterprises for decision making have augmented the Hadoop market growth.
Hadoop uses simple programming models to store the big data and is designed to extend from single servers to multiple machines, each offering the required storage and integration. Storage, processing, and analysis of the exorbitantly increasing amount of data, new developments, and huge investments in Hadoop solutions are some of the major opportunities for the Hadoop market.
Keeping the sensitive data private and secure is a factor restraining the growth of this market. Hadoop misses encryption at the storage and network levels, giving rise to security issues. Moreover, Hadoop being a huge storage platform that is designed for high-capacity storage is not suitable for small data needs. Hence, Hadoop is not recommended for enterprises with small data requirements.
The major end-user segments in the Hadoop market include BFSI, healthcare, government, trade and transportation, IT, telecommunication, and retail sector. The government sector is a major revenue- generating user for Hadoop technologies owing to the huge data storage and analysis. The retail industry has also benefited by the adoption of Hadoop technology as it helps in retail business expansion and offers cost-effective solutions for storing and analyzing the huge amount of data. BFSI segment leads the Hadoop market as it assists in understanding the customer requirements and updates the services accordingly to satisfy the customer demands.
The North America region dominates the Hadoop market owing to its technological advancement and early adoption benefit. Moreover, the amount of data generated in this region is high, especially in the BFSI and retail sector, which further augments the demand for Hadoop solutions and services. APAC region is anticipated to grow at a fast rate during the forecast period owing to its economic growth and rising big data management concerns. Many organizations in this region have already come up with big data-related infrastructures, software, and solutions, which foster the growth of this market. This helps them in getting better business insights and enhances their decision-making capabilities. Hence, the demand for Hadoop is growing rapidly in the APAC region.
The key players operating in the Hadoop market are Amazon Web Services, IBM, Teradata, OpenX, Hortonworks, Cisco Systems, Oracle Corporation, MapR Technologies, MarkLogic, Datasift, Microsoft, and Cloudera. These players are engaged in partnerships, new product developments, and expansion strategies to maintain their market share and gain an advantage over other competitors. For instance, in November 2014, Teradata entered into a partnership with MapR Technologies, which offers Hadoop choices by providing integration, joint product developments, and market strategies.
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