Hadoop is an open-source distributed processing framework that manages data processing and storage for big data applications running in clustered systems. It is at the center of a growing ecosystem of big data technologies that are primarily used to support advanced analytics initiatives, including predictive analytics, data mining, and machine learning applications.
According to BlueWeave Consulting, the global Hadoop market is anticipated to worth USD 40,689 million by 2021, with a CAGR of 43% during 2019–2025. The Global Hadoop Market is expected to grow at a significant rate during the forecast period 2019–2025, owing to rising demand for faster & effective accessibility of data from different industries like BFSI, retail, and IT& ITES.
Implementation of Hadoop in the Service Sector is projected to be leading the overall market during the forecasted period.
Based on product type, the Hadoop market segmented into Software, Hardware, and Services. Services will dominate the global Hadoop market owing to its increased applications as a consulting, training, and outsourcing tool to maximize efficiency. Efforts to make the software into a real-time application will also enhance the demand of the segment.
IT & ITES is projected to lead the industry in utilizing the applications of Hadoop during the forecast period.
Based on End-User, the global Hadoop market segmented into BFSI, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT& ITES. By usage, IT & ITES will lead the market owing to the growing adoption of Hadoop for managing outsourced data.
North America will account for the lion’s share of the global Hadoop market during the anticipated period.
North America will dominate the world Hadoop market over the forecast period owing to the presence of major companies coupled with the huge adoption of the application of Hadoop in these regions. The Asia Pacific is projected to be the fastest-growing market throughout the forecast period due to the rapid expansion of the IT services industry in emerging countries like India and China.
Companies such as Cloudera Inc., MapR Technologies Inc., IBM Corp., Hortonworks, and EMC Corp., Horton Works, Amazon Web Services, Cisco Systems, Inc., Datameer, Inc., Fair Isaac Corporation, Teradata Corporation, MarkLogic, Pentaho Corporation, MapR Karmasphere Inc, Appistry Inc., Zettaset and Adello AG are the key players for providing Hadoop services.