The global Hadoop big data analytics market size will extend from $12.8 billion in 2020 to $30.2 billion by 2026, and also develop at an annual growth rate CAGR of 13.0% during of the forecast period.
Hadoop is an open source framework for storing data and running applications on basic hardware clusters. Hadoop provides excellent flexibility for businesses and allows businesses to easily access and process data. Big Data is a massive volume of data that can be structured or unstructured.
Big data analysis is a generally advanced method of examining large and varied datasets, or big data to reveal information such as hidden patterns, unknown correlations and market trends as well as the preferences of customers who can facilitate the creation of new data for organizations. trade selections. Data analysis technologies and techniques provide methods for studying and drawing data sets to help organizations make business selections. Business Intelligent queries answer key questions about business operations and performance.
For telecom operators, the increase in data from social platforms, connected devices, call data recordings, pose great challenges in data management. For telecoms operators, big data analytics provide real-time insight into potential risk factors, enabling them to mitigate fraud risks and improve business revenues, while maintaining customer satisfaction.
The banking and financial industry benefits from faster data processing and management at minimal cost. Big data analytics helps financial firms retain more customers by analyzing behaviors and identifying patterns that lead to customer turnover. Other applications of big data in banking and finance include customer segmentation and experience analysis, credit risk assessment, and specific services. North America is expected to hold a massive share of the Hadoop big data analytics market due to the rapid adoption of advanced technologies in countries like United States and Canada.
Due to advancements in new technologies, devices and communications, the amount of data produced is increasing rapidly from year to year. The studied market is primarily driven by the growing demand for implementing Big Data analytics solutions to analyze exponentially growing structured and unstructured data, to obtain actionable insights, which can be used for various decision-making processes in the future.
Hadoop big data analytics market is estimated to experience a slowdown in growth in 2020 due to lockdowns imposed around the world due to the coronavirus outbreak. The blockades have impacted the manufacturing, retail and electronics, government and public sectors around the world. They have also influenced supply chains and logistics due to the total or partial disruption of operations in various verticals.
REPORT COVERAGE:
REPORT METRIC |
DETAILS |
Market Size Available |
2020 – 2026 |
Base Year |
2020 |
Forecast Period |
2022 - 2027 |
CAGR |
13% |
Segments Covered |
Component, Application, Vertical |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, South America, Middle East & Africa |
Market Leaders Profiled |
Tableau Software, Teradata Corporation, IBM Corporation, Amazon Web Services, Microsoft Corporation, and Pentaho Corporation |
Fastest Growing Region |
Asia Pacific |
Largest Market |
North America, Europe |
Recent Developments:
Market Growth and Trends:
Data discovery and visualization gain ground due to the emergence of Big Data Analytics
Market Drivers and Restraints:
The growing need for Big Data analytics and the increasing volume of digital information are driving the demand in the global Hadoop big data analytics market. The convergence of Big Data and the Internet of Things is also driving this business growth. Also, the call for big data and cost-effective quick fixes from Hadoop is increasing worldwide, promoting market growth.
However, the lack of a Big Data regulatory framework and the lack of security hinder the growth of the worldwide market. The immaturity of the Hadoop platform also hampers this industry growth. Furthermore, the shortage of qualified professionals also limits the developments in the market.
Market segmentation:
The global Hadoop big data analytics market is segmented and sub-segmented into the following categories:
Regional Analysis
Europe and North America are the significant areas in the world that are estimated to provide promising opportunities for the companies that are operating in the global Hadoop big data analytics market. The developing economies of the Asia Pacific are expected to emerge as profitable markets to capitalize on in the coming years.
Key market players
Some of the top companies in the global Hadoop big data analytics market are Tableau Software, Teradata Corporation, IBM Corporation, Amazon Web Services, Microsoft Corporation, and Pentaho Corporation.
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