Increasing Need for Storing and Analyzing Data Propels Global Hadoop Market

Published Date : Mar 28, 2016

The rise of Hadoop technology has provided several business a practical and systematic architecture to deal with big data. This Java-based open source programming framework, which allows users to process large data chunks in a distributed computing environment.

The global Hadoop market is segmented on the basis of type, end users, and geography. On the basis of type, this market is segmented into hardware, software, and services. The end users in the global Hadoop market are retail, banking, financial services and insurance (BFSI), telecommunication, manufacturing, media entertainment, natural resources, government, trade and transport, IT and ITES, and others. Geographically, this market is segmented into North America, Asia Pacific, Europe, and Rest of the World.

IT and ITES Segment to Dominate Hadoop Market
The global Hadoop market is likely to be dominated by the IT and ITES segment, followed closely by the telecommunication segment. Additionally, a growing demand for hardware, software, and services of Hadoop from sectors such as the BFSI, government, and retail are also expected to augment the overall market in the coming years. Between 2015 and 2023, BFSI and IT and ITES will be the fastest growing segments in the overall market.

Adoption of Hadoop Software Augments Market
Rising focus on improving types of software and services in the overall Hadoop market is also lending a significant impetus to the market. Analysts predict that the services segment will dominate the overall market all through 2023. Furthermore, the software segment is also expected to grow at a rapid pace between 2015 and 2023 as several industry verticals are adopting the Hadoop software solutions.

North America to Continue Dominance in Overall Hadoop Market
Geographically, North America held a 50% share in the global Hadoop market in 2014 and is expected to continue its dominance all through 2023. The factor propelling global Hadoop market in North America are increasing need for analysis and storage of unstructured data. Furthermore, growing investments for technological improvements in Hadoop to cater to the ever-growing industrial demand is also expected to drive this market in North America.