New York US, Oct. 12, 2022 (GLOBE NEWSWIRE) -- According to a comprehensive research report by Market Research Future (MRFR), Global Hadoop Big Data Analytics Market: By Component, End-User, Application, and Region- Forecast Till 2030, the Hadoop big data analytics market is expected to bolster considerably during the assessment timeframe from 2020 to 2030 at a robust CAGR of approximately 27.41%. The report further predicts the market will reach an estimated USD 80.22 Billion by the end of 2030.
Hadoop Big Data Analytics Market Overview:
Hadoop is an open-source framework to store data and run applications on clusters of commodity hardware. Hadoop offers brilliant flexibility to enterprises and allows organizations to process and access data quickly. Big data refers to a massive amount of data that can be unstructured or structured. Hadoop big data analytics has shown maximum growth in the last few years. The primary aspect supporting the market's growth is the rapid adoption of cutting-edge technologies worldwide. Furthermore, the rising emphasis on digital transformation is anticipated to boost the market's growth over the coming years.
Hadoop Big Data Analytics Market Competitive Analysis
The directory of prominent participants across the global market for Hadoop big data analytics comprises companies such as:
- Amazon Web Services (U.S.)
- Cloudera, Inc. (U.S.)
- IBM Corporation (U.S.)
- Microsoft Corporation (U.S.)
- Datameer, Inc. (U.S.)
- Karmasphere, Inc. (U.S.)
- Pentaho Corporation (U.S.)
- Tableau Software, Inc. (U.S.)
- Teradata Corporation (U.S.)
- MapR Technologies (U.S.)
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Hadoop Big Data Analytics Market Report Scope:
| Report Metric | Details |
| Revenue forecast in 2030 | USD 80.22 Billion |
| Growth Rate | CAGR of 27.41% from 2022 to 2030 |
| Base Year | 2021 |
| Study Period | 2022-2030 |
| Key Market Opportunities | Convergence of IoT and Big Data to Bolster Market Growth |
| Key Market Drivers | Increasing Digitalization to Offer Robust Opportunities |
Hadoop Big Data Analytics Market USP Covered
Market Drivers
The global Hadoop big data analytics market has expanded rapidly in recent times owing to the aspects such as the convergence of big data & internet of things, growing focus on digital transformation, increasing focus on remote monitoring in support of the outbreak, and rising investments in analytics.
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Market Restraints
On the other hand, the aspects such as uncertainty related to security issues, lack of big data regulatory framework, deficiency in safety, immaturity of the Hadoop platform, non-uniformity of data, and scarcity of skilled professionals may restrict the market's growth.
COVID-19 Impact
The world has witnessed several significant changes given the arrival of the global health crisis in the form of COVID-19, which ended up affecting a majority of the industry sectors across the globe. Unlike other market sectors, the global Hadoop big data analytics market witnessed various positive changes during the pandemic. With the rapid growth of the I.T. sector across the globe, the market is predicted to increase over the coming years.
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Hadoop Big Data Analytics Market Segment Analysis
Among all the components, the service segment is predicted to secure the top spot across the global market for Hadoop big data analytics over the assessment timeframe. The segment is further classified into consulting & development, managed services, and training & support. On the other hand, the software segment will likely witness substantial growth during the assessment era ending in 2023 by thriving at a healthy CAGR of approximately 35.69%. Hadoop big data analytics software is utilized across organizations to scale, manage, and distribute customer and enterprise data. This also enables the collection of metrics from the data cluster of individual machines & generates reports.
Among all the applications, the risk and fraud analytics segment is predicted to ensure the top spot across the global market for Hadoop big data analytics over the review era. The central aspect supporting the segment's growth is the rising emphasis on risk & fraud assessment in present-day businesses. Risk and fraud analytics offers an end-to-end evaluation to recognize possible and current issues. According to the analysis reports by MRFR, the segment is likely to show a considerable growth rate of approximately 37.30% by the end of 2023.
Among all the end-users, the BFSI segment is predicted to ensure the top position across the global market for Hadoop big data analytics over the coming years. as per the MRFR reports, the segment is likely to show a considerable CAGR of around 35.25% by the end of 2023. BFSI includes a massive amount of data generation. As this field is well-regulated, it requires dynamic solutions. The legacy platforms companies use across the field are replaced by advanced software frameworks such as Hadoop big data analytics.
Hadoop Big Data Analytics Market Regional Analysis
The global Hadoop big data analytics market is analyzed across five major regions: North America, Latin America, Asia-Pacific, Europe, and the Middle East & Africa.
According to the study reports by MRFR, the North American region is anticipated to hold the leading position across the global market for Hadoop big data analytics over the assessment era. The primary aspect supporting the growth of the regional market is the presence of robust I.T. infrastructure across the region. The region has always been known to be the early adopter of advanced technologies and has the U.S. as the leading growth contributor. Furthermore, factors such as the rapid expansion of business insights, easy adoption of emerging technologies & integration in top-tier organizations, a massive foothold of big data analytics providers, and the presence of leading I.T. companies are also likely to have an influence on the regional market's growth over the coming years.
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The Hadoop big data analytics market for the Asia-Pacific region is anticipated to witness the maximum CAGR over the assessment era. The growing volume of data is the main factor supporting the growth of the regional market. Furthermore, the aspects such as growing demand for valuable insights, rising concern about data integrity, advances in big data technologies & A.I., growing government regulations, rising investments by tech companies in Japan and China, increasing deployment of Hadoop big data solutions by enterprises, initiatives by the government to develop smart cities, and rapid urbanization and industrialization are also likely to catalyze the growth of the regional market over the coming years. Moreover, the nations such as China, India, and Japan are concentrating on enhancing data management to boost business processes and data-based business decisions, which is anticipated to enhance the regional market's growth over the review era.
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