Albany, New York, Nov. 22, 2018 (GLOBE NEWSWIRE) -- The global Hadoop market shows a consolidated vendor landscape due to the limited number of players functioning in the global market. Prominent players in the market reaching out to the new players and are connecting with them through partnerships and mergers and acquisitions strategies to gain a competitive edge in the global market. These players are also expanding their geographical reach and are tapping the regional markets in emerging economies through these strategies. Moreover, these players are aiming to develop their own Hadoop to gain larger share in the market. Hortonworks Inc., Cloudera Inc., EMC Corp., MapR Technologies Inc., and IBM Corp. are some of the key companies working in the global Hadoop market. The market is likely to witness the entry of new players due to increasing volume of digital data.
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According to a recent report published by TMR, the global Hadoop market is anticipated to rise at a staggering 29% CAGR within the forecast period between 2017 and 2023. Rising at this growth rate, the market is expected to achieve a valuation of US$37.7 bn by the end of 2023. In 2015, the market earned US$8.16 bn.
Based on type, services segment is leading the global Hadoop market. However, software segment is likely to surpass all segments in the coming years. Growing investments for development of more effective software is the major reason for the growth of this segment. On regional front, North America leads the market in terms of revenue. This is mainly because of digitally and technically advanced infrastructure in this region.
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Proper Arrangement of Large Data to Drive Demand in Hadoop Market
Globally, the volume of unstructured data has grown exponentially due to increasing technological advancements and massive use of electronic devices that has favored the Hadoop market. The volume of unstructured data has increased immensely through e-mails, office productivity documents, and web content that has further augmented the need for Hadoop. Thus, the need for proper arrangement of this data and growing use of it in end-use industries has grown the popularity of Hadoop across the globe.
In addition, faster processing of data and cost effectiveness by using Hadoop have also triggered its demand largely. Hadoop can also run on commodity hardware accounts, as it is preferred largely in all industrial sector where huge volume of data is generated daily. Moreover, capability to manage and access massive amount of data and low cost of data storage has boosted the demand in this market.
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Lack of Skilled Labor Deterring Market’s Growth
Despite of the increasing demand for Hadoop across the globe, some factors may hamper the growth of the market in the coming years. Complexities involved in handling this technology as it is in its nascent stage is the key factors that might hamper the growth of this market. Slow adoption of Hadoop and lack of skilled labor who has adequate experience and is qualified enough to manage Hadoop framework is also obstructing market’s growth in the near future. In addition, high cost services and training and manual code requirements are some of the other factors holding back this market.
The information presented in this review is based on a TMR report, titled “Hadoop Market (Type - Software, Hardware, and Services; End use - Banking, Financial Services, and Insurance, Retail, Manufacturing, Telecommunication, Media Entertainment, Natural Resources, Trade and Transport, Government, and IT and ITES) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2023.”
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Global Hadoop Market has been segmented as presented below:
Global Hadoop Market, By Type
- Software
- Hardware
- Services
Global Hadoop Market, By End use Industry
- Banking, Financial services and Insurance (BFSI)
- Retail
- Manufacturing
- Telecommunication
- Media Entertainment
- Natural Resources
- Trade and Transport
- Government
- IT and ITES
- Others
Global Hadoop Market, By Geography:
- North America
- U.S.
- Canada
- Europe
- U.K.
- Italy
- Spain
- France
- Germany
- Rest Of Europe
- Asia Pacific
- China
- India
- ASEAN
- Rest Of Asia Pacific
- Japan
- Latin America
- Brazil
- Mexico
- Rest of South America
- Middle East & Africa (MEA)
- GCC
- South Africa
- Rest of MEA
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