LONDON--(BUSINESS WIRE)--The growing demand for cost-effective solutions for big data management has resulted in the unprecedented growth of the Global Hadoop-as-a-Service (HDaas) Market, which is expected to post a CAGR of 84.81 percent from 2014-2019, says research firm TechNavio.
For large organizations, it is practically impossible to analyze large volumes of data manually on a daily basis. With the huge amounts of data available, organizations need to make appropriate use of raw data and convert them into useful information to facilitate decision-making processes.
“Organizations are focusing on installing data management solutions like Hadoop as an integral part of big data analytics, as they can easily manage large sets of data in a cost-effective manner,” says Faisal Ghaus, Vice President of TechNavio.
The latest report by TechNavio emphasizes the increased adoption of HDaaS by SMEs, as these organizations often don’t have the capital to invest in on-premise big data solutions. HDaaS solutions enable companies to perform analytics activities with low capital investment, which has spurred uptake of the technology among SMEs worldwide.
“Additionally, increased competition in the business environment is a major reason for the adoption of HDaaS,” says Ghaus.
TechNavio currently has more than 3000 market research reports on a huge range of topics, including:
TechNavio is a leading global technology research and advisory company.
Founded in 2003, TechNavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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