According to analysts at Zion Market Research, the global hadoop market was capitalized at almost USD 7.69 Billion in 2016 and is likely to cross almost USD 87.14 Billion by end of 2022, developing at a CAGR of almost 50% from 2017 to 2022.
Rising Demand For The Big Data To Boost The Hadoop Market In The Years To Come
As per analysts at Zion Market Research, the hadoop market is boosted by rising demand for the big data paired with an increasing volume of unstructured & structured data. One more major factor that is likely to foster the growth of hadoop market is rising demand for faster & effective accessibility of data among different industries such as banking & finance, healthcare, biotechnology & defense, and manufacturing. On the other hand, distributed security and computing problems are major hurdles that might hinder the growth of hadoop market.
Huge investment and continuous development in hadoop market are likely to unlock new avenues in the near future. For instance, in March 2018, Hortonworks, Inc. rolled out Hortonworks Operational Services to assist users in more quickly maximizing their data value and managing big data deployments. The subscription-based offering gave a fully managed atmosphere for HDF (Hortonworks DataFlow) and HDP (Hortonworks Data Platform) users. It also gave ongoing access to devoted Hortonworks support teams with managing modern data and deep experience building platforms.
In addition, different mergers and acquisitions are also claimed to boost the hadoop market. For example, in May 2018, Google acquired Cask Data. Now, Cask Data is a Palo Alto-based company that specializes in designing solutions to operate big data analytics services using Hadoop. The acquirement also confirmed that the firm will carry on supporting existing products and customers.
Retail Segment To Boost The Global Hadoop Market And Maintain Its Supremacy In The Years To Come
Hadoop market is divided based on end users, type, and regions. Type sector comprises hardware, software, and service. The end-user sector comprises government sector, BFSI, healthcare, IT & ITES, retails, telecommunication, and others.
Hadoop market is studied based on the end-user application in different sections. The retail sector is employing Hadoop technology owing to the generation of huge amount of data and extension of organized retail industries. The government segment is the second most eye-catching sector in hadoop market and creating the highest income owing to the necessity for data analysis and a high amount of data generation.
Source: Zion Market Research