Hadoop Big Data Market Poised to Grow at CAGR 23.61% Impressive Pace over 2032

MRFR Press Release/- Market Research Future published a half cooked research report on Hadoop Big Data Analytics Market.

Hadoop Big Data Analytics Market Overview:

The Hadoop big data analytics market will witness a healthy growth from 2024 to 2032., a research report suggests. Growing at a CAGR of 23.61%, the market is projected to reach USD 14.78 billion by 2024. Convergence of IoT and Big Data is expected to support the market growth along with the rising proliferation of the internet of things. As predicted by analysts, scarcity of skilled professionals will negatively affect the market’s performance from 2018 to 2023. During the forecast period, the market will be supported by the growing focus on digital transformation and the rising investments in analytics.

Immaturity of the Hadoop platform on the other hand will challenge data analysis sector based organizations functioning in the global Hadoop big data analytics market. Analysts have split the market into end user, application, and component segments based on products and services. Data analysis based companies have been profiled. Deficiency in safety to act as a market challenge is set to affect the global market during the forecast period 2018 to 2023. The report also provides the market’s performance forecasts till 2023.

Analysts have studied the strategy of data analysis segment based organizations to help new entrants and established businesses. The data analysis sector itself is supported by a rise in the disposable income as well as the increasing preference of consumers. During the forecast period 2018 to 2023, the Hadoop big data analytics market is set to witness a health growth across end user, application, and component segments as well as regional markets.

Market Segmentation

The data analysis sector has seen growth across end user, application, and component segments owing to the availability of many untapped opportunities and the increasing spending power of consumers. To study the market, analysts have further segmented end user, application, and component into BFSI, government and defense, healthcare, IT and telecommunication, manufacturing, transportation and logistics, and others on the basis of end user. The market is further segmented into application sub segment which is split into customer analytics, distributed coordination service, internet of things (IoT), merchandising and supply chain analytics, risk and fraud analytics, and security intelligence. Additionally, the Hadoop big data analytics market on the basis of components is segmented into services and software.

The segmental analysis presented in the report provides data analysis field based organizations insights into key growth factors such as the convergence of big data as well as challenges such as the lack of investments the market will face from 2018 to 2023. The growing application areas and favorable policies across regional markets are some of the key factors having an influence on data analysis industry based companies, suggest analysts as per the Hadoop big data analytics market report. But the report also identifies the lack of R&D investments and the lack of skilled human resource as major threats companies in data analysis will face till 2023. 

Regional Overview

data analysis market based companies in the Hadoop big data analytics market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world. The increasing demand from various industry verticals will be a key growth driver for regional markets. However, demand and supply gaps will turn out to be a threat. For the forecast period 2018 to 2023 each of these regional markets are studied in the report. Starting from North America, the regional market and data analysis vertical based companies are spread across the United States, Canada, and Mexico. The lack of investments in R&D will turn out to be a major challenge from 2018 to 2023. 

Parts of the European market covered in the report are regional markets spread across the United Kingdom, France, Italy, and Germany. The market in the region will be benefitted by the changing social behaviour as well as a rise in disposable income, suggests the report. Similarly, the data analysis sector’s segmental analysis for the Asia Pacific region covers India, Japan, China, and others. For the rest of the world, the research report for the Hadoop big data analytics market covers the Middle East and Africa. Forecast based on the report’s findings are presented for the forecast period till 2023.

Competitive Landscape

The global Hadoop big data analytics market research report brings a comprehensive study of end user, application, and component market segments, regional analysis, and data analysis vertical based company details of key players. As the forecast period 2018 to 2023 will bring new opportunities for the market owing to technological developments and the presence of untapped market opportunities, the market is set to grow at a compound annual growth rate of 36.37% and is predicted to reach a value of US$52 billion by 2023. With SWOT analysis of data analysis sector based companies and Porter’s Five Force model analysis based findings, and understanding challenges such as the growing penetration of alternatives in the market and the lack of developed infrastructure, companies in the data analysis sector can change the way business is done.

Industry News

Teradata has annunced the purchase of Think Big Analytics, a Silicon Valley-based Hadoop consultancy company. The deal's monetary value was not disclosed. Teradata has made three acquisitions in the last six weeks, including the purchases of Revelytix and Hadapt in late July. Through acquiring the three firms, the data warehouse platform and hardware vendor seems to be pursuing a common goal: to adopt Hadoop as well as other big data technology in order to provide a gateway to its data warehouse infrastructure.