Global Hadoop Market (2020 to 2027) - by Component, Deployment Model, Organization Size, and End-user - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Hadoop Market by Component, Deployment Model, Organization Size, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.

According to this report the Hadoop market size was valued at $26.74 billion in 2019, and is projected to reach $340.35 billion by 2027, growing at a CAGR of 37.5% from 2020 to 2027.

Hadoop is an Apache open source framework programmed in Java. It allows distributed processing of large datasets widely known as big data across clusters of computers using simple programming models. The Hadoop framework application operates in an environment that provides distributed storage and computation across clusters of computers. Hadoop is designed to scale up from single server to thousands of machines, each offering local computation and storage. It runs its applications using the MapReduce algorithm, where the data is processed in parallel with other processes. Moreover, it is widely used to develop applications that perform complete statistical analysis in big data. Hadoop is a distributed processing technology used for big data analysis. The global Hadoop market has witnessed dynamic growth in the recent years, owing to its cost-effectiveness and efficiency over traditional data analysis tools such as RDBMS

Increase in competition in the business environment has compelled companies that generate huge amount of data to opt for Hadoop services. In addition, extremely low upfront costs compared to on-premise Hadoop propels the adoption of Hadoop as a Service (HaaS). Moreover, some of the other factors that drive the growth of the market include increase in adoption of Hadoop by small & medium enterprises (SMEs) and the characteristics such as flexibility and agility for businesses provided by Hadoop. Factors such as increase in penetration of Internet of Things (IoT) across the globe, A surge in demand for cost effective solutions for the management of big data, and wide acceptance of HaaS across different industry verticals such as IT, banking, manufacturing, and telecommunication fuel the growth of the Hadoop market.

However, concerns associated with low security standards for highly confidential data and lack of awareness about benefits of this technology are expected to hinder the growth of the market to a certain extent. Furthermore, ongoing partnership and funding taking place in the Hadoop market and a rise in popularity of e-commerce are expected to provide significant revenue growth opportunities for the market growth in the coming years.

Key Benefits

• The study provides an in-depth analysis of the current & future trends of the market to elucidate the imminent investment pockets.
• Information about key drivers, restraints, and opportunities and their impact analysis on the global Hadoop market share is provided.
• Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the Hadoop industry.
• The quantitative analysis of the market from 2019 to 2027 is provided to determine the global Hadoop market potential.

Key Findings of the Study:

1. By component, the services segment dominated the Hadoop market. However, the software segment is expected to exhibit significant growth during the forecast period in the Hadoop industry.
2. By deployment model, the on-premise segment dominated the Hadoop market share in 2019. However, the cloud segment is expected to exhibit significant growth during the forecast period.
3. By organization size, the large enterprises segment dominated the Hadoop industry in 2019. However, the small and medium enterprises segment is expected to exhibit significant growth during the forecast period
4. By end user, the IT & telecommunication sector generated the highest revenue in 2019. However, the others sector is expected to witness a considerable growth in the near future.
5. By region, Asia-Pacific is expected to witness significant growth in terms of CAGR in the coming years.

Market Dynamics

Drivers

• Increase in Competition in the Business Environment
• Rise in Adoption of Hadoop-As-A-Service
• Increase in Adoption of Hadoop Services by Small and Medium Enterprises (SMEs)
• Flexibility and Agility for Businesses Provided by Hadoop

Restraints

• Low Security for Highly Confidential Data
• Lack of Awareness About Benefits of Hadoop Technology

Opportunities

• Ongoing Partnership and Funding Taking Place in the Hadoop Market
• Rise in Popularity of E-Commerce

Key Players

• Amazon Web Services
• Cisco Systems, Inc.
• Cloudera, Inc.
• Datameer, Inc.
• Dell EMC
• Google LLC
• International Business Machines Corporation
• MapR Technologies
• MarkLogic Corporation
• Teradata Corporation

For more information about this report visit https://www.researchandmarkets.com/r/95rywz