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Hadoop Market

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Hadoop Market
The Rising Demand For Big Data Analytics Is A Key Factor Propelling The Hadoop
Market
Characterized by a consolidated vendor landscape, leading players in the global
Hadoop market are vying to acquire smaller ones to strengthen their competitive
position. Mergers and acquisition and partnerships are key growth strategies adopted
by leading players to buoy growth. This is to penetrate into regional markets that
hold immense potential for hadoop. Apart from this, leading players are focused on
developing their own version of Hadoop to up their market share.
Top names currently in the global hadoop market to name are Cloudera Inc.,
Hortonworks Inc., MapR Technologies Inc., EMC Corp., and IBM Corp. With
mounting volumes of digital data, the market is likely to witness the entry of new
players.
As per a recent business intelligence study by Transparency Market Research (TMR),
the global Hadoop market is likely to clock a phenomenal CAGR of 29% between
2017 and 2023. Rising at this rate, the market which stood at US$8,166.0 mn in
2017 is likely to reach US$37,759.0 mn by 2023. By end use, IT and ITES segment
holds dominance in the global hadoop market. The segment is anticipated to hold
19.2% market share by the end of 2023. Geography-wise, North America is currently
the leading market for Hadoop and is likely to hold on to its leading position.
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Need to Utilize Big Data for Business Gains Stokes Adoption
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.
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.
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.
Lastly, dearth of analysts and managers with a know-how to utilize unstructured data
paves way for the adoption of Hadoop.
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monaliraghu
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