In the field of technology, Hadoop is the latest buzz that is heating up the market that helps to store large amount of data. Large enterprises have huge amount of data streaming from various verticals. Hence, to sort all the data, analyze, quantify and bringing it to predictive analysis is a mammoth task. Here, hadoop helps to convert their crude data into propelling business fuel.
Looking at the increasing popularity of hadoop market, investors have become confident about its future prospects. To assure investors of investment in hadoop market, Allied market research has prepared a comprehensive report which projects global hadoop market to reach $50.2 billion by 2020, growing at a CAGR of 58.2% between 2013 and 2020.
Driving factors of hadoop market:
- Increase in demand for big data analytics
- Huge expansion in raw structured and unstructured data
- Cost effective and faster data processing of Big Data analytics
- Issues related to distributed computing and Hadoop platform security
How can the hindrance be overcome?
- Technological development
- Gradual lowering of operating cost
As per AMR, global hadoop market is segmented on the basis of software, hardware and services market.
- Leading with 50% of global hadoop market share
- Its further segmentation are consulting, training and outsourcing, integration and deployment, and middleware & support services
- Consulting and training & outsourcing segment together shared maximum revenue in 2013
- Integration and deployment services is expected to grow at the fastest rate
- Due to increasing venture capital investments, software market will be the highest growing market between 2013 and 2020
- Application software, management software, packaged software and performance monitoring software markets are its further segmentation
- Application software had generated highest revenues in 2013
- Hadoop packaged software market is expect to grow at a CAGR of 62.9% during the forecast period
- Hadoop Hardware Market is segmented as servers, storage, and network equipment markets
- In 2013, storage market was leading segment in Hadoop hardware market in terms of revenue
- Hadoop servers market is expected to have a CAGR of 60.1% during 2013-2020
At present, government sector is the leading revenue generating segment in Hadoop end-user application market. However, by 2020, BFSI will surpass government sector to be the highest revenue grosser in Hadoop end-user application market.
Geographical analysis by AMR observed that North America is and will continue to remain leading revenue generator due large presence hadoop distribution companies & enterprises. Asia Pacific region is projected to be the fastest growing region with a CAGR at 59.2% between 2013 and 2020.
Key market players by AMR:
- Amazon Web Services
- Cisco Systems
- Cloudera, Inc.
- Datameer, Inc.
- Hortonworks, Inc.
- Karmasphere, Inc.
- MapR Technologies
- Pentaho Corporation
- Teradata Corporation