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The sudden rise in demand for big data analytics is a major factor driving the growth of the global hadoop market. In the recent years, industries have experienced a huge explosion of raw, structured and unstructured data, which has compelled the application of big data analytics. The market trend for the need of cost-friendly, agile processing of business data has established “big data” as the preferred platform for data analytics over traditional data analysis platforms like data warehouses or relational database management systems.
Hadoop is a Java-based free programming structure that supports the handling of large data sets in a diverse computing environment. Hadoop is part of the Apache project sponsored by the Apache Software Foundation. It is a data storage processing system that assists file sharing, data analytics, and data storage. With the increasing spread of internet communication and social media, hadoop is being widely used by a variety of companies ranging from Facebook to Yahoo.
The global hadoop market can be segmented on the basis of software types, hardware equipments, and services. The market by software types is segmented as hadoop application software, hadoop management software, hadoop packaged software, and hadoop performance monitoring software. Based on hardware equipments, the global hadoop market can be widely classified into storage, servers and network equipments. On the basis of services, the global hadoop market can be segmented into consulting, training and outsourcing, integration and deployment, and middleware & support. Based on the end-users, the global hadoop market can be categorized into telecommunication, banking & finance, healthcare, government and public utilities, healthcare, web, retail, manufacturing, gaming, IT & security, oil & gas, bioinformatics, transportation, media and entertainment, and education. Among end-users, the government sector dominates the hadoop market followed by banking financial security and insurance (BFSI), healthcare, and retail.
The recent years have experienced a massive outburst of structured, unstructured and raw data, which has been propelling the big data analytics industry. The need for cost-friendly, agile handling of business data has acknowledged “big data” as the elected platform for data analytics over traditional data analysis platforms which involve data warehouses and relational database management systems.
Hadoop as a solution is increasingly offering data security and data retrieval features. These features are improving with time. Hadoop software is the highest growing market in the hardware and services industry. Geographically, North America is expected to lead the revenues share in the global hadoop market in near future, owing to the higher rate of technology acceptance in the region.
The challenges such as lack of experienced and qualified work specialists, who can efficiently handle the hadoop architecture, hinder the growth of the global hadoop market. Organizations across almost all the application segments are looking for qualified work experts to handle this architecture. The lack of awareness about the benefits of hadoop software among mid-sized and large companies results in lower adoption which is ultimately hindering the market growth.
The hadoop technology facilitates the consumers to handle more data through superior storage capacity and also enables data retrieval in case of hardware failure. Some of the major competitors in the global hadoop market include Fair Isaac Corporation, Cloudera, EMC Corporation, Appistry Inc., Zettaset, Hortonworks Inc, Datameer, Inc., Amazon Web Services, Inc., International Business Machines Corp., Adello AG, Intel Corporation, Adello AG, and Microsoft.