Global Hadoop Market is Expected to Reach $84.6 Billion by 2021
27 Jan, 2016, 08:17 ET
PORTLAND, Oregon, January 27, 2016 /PRNewswire/ --
According to a new report published by Allied Market Research titled, "World Hadoop Market - Opportunities and Forecasts 2014-2021," the global Hadoop market is expected to garner revenue of $84.6 billion by 2021, registering a CAGR of 63.4% during 2016 to 2021. North America accounted for around 52% share of the overall market revenue in 2015, owing to higher rate of adoption in industries such as IT, banking, and government sector. Europe is anticipated to witness the fastest CAGR of 65.7% during the forecast period (2016 - 2021).
To know more about the report, visit the website at: https://www.alliedmarketresearch.com/world-hadoop-market
The Hadoop ecosystem comprises Hadoop software, hardware and services. In 2015, the services segment dominated the market, accounting for approx. 49% share owing to growing demand for big data analysis across various organizations. The Hadoop services market is further segmented into "consulting, training & outsourcing", "integration & deployment", and "middleware & support services". The consulting, training & outsourcing segment generated revenue of $1.6 billion in 2015. The integration & deployment services segment would witness the fastest CAGR of 64.8% during the forecast period, due to increasing investments in big data analytics and demand for real-time operations. The Hadoop software market is segmented into application software, management software, packaged software, and performance monitoring software. Application software was the highest revenue-generating segment in the market in 2015, whereas packaged software segment is anticipated to grow at the fastest CAGR by 2021.
The major end users of Hadoop-based products and services comprise manufacturing, BFSI, retail, telecommunication, healthcare & life sciences, hospitality & travel, media & entertainment, trade & transport, government sector and IT & ITES. Among all the verticals, BFSI would be the highest revenue generating sector from 2016 onwards, constituting 14.7% of the overall market by 2021. In terms of growth, Trade and transportation sector is anticipated to witness the fastest CAGR of 76.3% during 2016-2021.
KEY FINDINGS OF THE STUDY
- Currently, North America is the highest revenue-generating market for Hadoop-based products and services
- Trade & transportation industry would witness the fastest adoption of Hadoop-based services and products over the next 5 years
- The European Hadoop market would witness the fastest growth during 2016-2020
- The integration & deployment service segment would grow at the fastest CAGR of 64.8% by 2021
- The packaged software segment would grow at the fastest CAGR of 67.3% by 2021
The key companies profiled in this report, include Amazon Web Services, Cisco Systems, Inc., Cloudera, Inc., Datameer, Inc., Hortonworks, Inc., Fair Isaac Corporation, MapR Technologies, Teradata Corporation, Teradata Corporation, and MarkLogic. Renowned players, including Hortonworks, Inc., Cloudera, Inc., Mark Logic, and others have focused on development of advanced, Hadoop-based data storage, management, and analytics solutions to cater to the customised requirements of business enterprises.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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