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Hadoop is an open-source software framework for storing and analyzing big data which uses simple programming models across distributed clusters of various hardware platforms.
Big data is a massive volume of information which can be unstructured as well as structured. Due to the massive volume of such information, it cannot be stored and processed by traditional systems. Big data analytics is typically an advanced method of examining these large volumes of information and data to reveal various insights for making real-time corporate level decisions.
Hadoop provides several benefits for big data analytics including reliability, high scalability, cost effectiveness, flexibility, resilience to failure, enormous processing power and the ability to handle virtually limitless concurrent tasks or jobs.
The global hadoop big data analytics market is anticipated to grow at an impressive CAGR over the next few years.
The growth of this market is attributed towards major relying factors including; the growing volumes of data across various industries, the increasing global need and demand for big data analytics, the convergence of IoT and big data, the growing focus on digital transformation of organizations, increasing demand for a common unified platform for information storage, the growing adoption of smart payment technologies, rising need for information conversion by Internet of Things and big data by organizations for the purpose of decision making, the growing investments in analytics and the increasing investments in R&D activities to develop superior and efficient systems & control hubs by market players etc.
Additionally, real-time operational scrutiny by the industry participants to closely observe their daily operations predominantly to gain a competitive advantage over the competing companies and to gain a better insight into their strategies has given rise to big data. This is projected to further expand the Hadoop big data analytics market.
Moreover, Big Data analytics effectively help banking and financial firms in retaining more of their customers, by analyzing behavior and identifying patterns that lead to customer abandonment and also help in customer segmentation, experience analysis, credit risk assessment, and targeted services, which, in turn makes them highly desirable by these and other industries all across the globe.
Furthermore, factors such as increasing digitalization, number of data repositories with historic and current data, rising proliferation of IoT in various devices such as sensors, the growing trend towards visualization-based data discovery tools, the increasing use of raw data in market intelligence among SMEs as well as large enterprises and the increasing demand for analytics to drive business growth through technological innovative solutions will further fuel the growth of this market.
However, the non-uniformity of data, dearth in safety standards, the lack of appropriate big data regulatory framework, shortage of skilled personnel, lack of awareness and legal and security concerns are some factors that are hindering the growth of this market.
At this time, the Hadoop big data analytics market is expected to witness decline in its growth in 2020 due to the safety measures adopted in view of the COVID-19 outbreak. Lockdowns have been negatively impacting the global manufacturing, retail and ecommerce, government, and public sectors. With that said, the condition is expected to improve by early 2021, with the demand for Hadoop big data analytics solutions and services expected to increase owing to surging demand for remote health monitoring of individuals and assets, sales and customer management, predictive asset maintenance, energy management, and inventory management. Also, the requirement for real-time information to track and monitor the COVID-19 spread has augmented the growth of this market.
HADOOP BIG DATA ANALYTICS MARKET SEGMENTATION:
By Deployment Mode:
By Organization Size:
By Business Function:
The North American region is the leading regional market for hadoop big data analytics followed by Europe and is expected to bolster growth at a tremendous growth rate in the near future. The growth in this region can be attributed to the increasing deployment of Hadoop big data solutions by major IT enterprises in the region, the strong presence of Big Data analytics vendors in the region, the growth of new business insights, rising end-user friendly solutions, the fast-adoption of latest technologies in the region, the increasing number of technological advancements in the region, the presence of good cloud infrastructure and heavy investments in R&D initiatives etc. The major contributor in the region is The U.S.
The Asia Pacific region is the fastest growing regional market for hadoop big data analytics and is estimated to register growth at comprehensive growth rate in the forthcoming years owing to the increasing volume of data, the growing number of government initiatives, advancements in AI and big data technologies, growing concern regarding data integrity, the increasing demand for useful insights and rapid industrialization & urbanization etc. The major contributors in the region are India, China and Japan.
FEW KEY PLAYERS IN HADOOP BIG DATA ANALYTICS MARKET:
Timeline Considered for Analysis:
- 2019: Base Year
- 2020 to 2025: Forecast Period
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global Hadoop big data analytics market by the following segments:
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Hadoop Big Data Analytics Industry Report