LONDON, Jan. 19, 2017 /PRNewswire/ -- "The increasing volume of structured & instructed data and the need to store, manage, and analyze data are factors driving the growth of the Hadoop big data analytics market"
The Hadoop big data analytics market is projected to grow from USD 6.71 billion in 2016 to USD 40.69 billion by 2021, at a CAGR of 43.4% between 2016 and 2021.
The market for Hadoop big data analytics market is growing significantly, owing to the increasing adoption of Hadoop big data and BI solutions by companies to manage exponentially generated data each day. Increasing demand for cost-effective and faster analytics solutions to convert information collected by big data and IoT into actionable decisions is one of the most significant factors driving the growth of the Hadoop big data analytics market. However, immaturity of Hadoop platform is acting as a restraint to the growth of the Hadoop big data analytics market.
"Based on component, the service segment of the Hadoop big data analytics market is projected to grow at the highest CAGR during the forecast period"
Based on component, the service segment of the Hadoop big data analytics market is expected to grow at the highest CAGR from 2016 to 2021. This growth is mainly attributed to the rising adoption of Hadoop big data solutions by various enterprises. The consulting & development subsegment of the Hadoop big data analytics service market is anticipated to grow at the highest CAGR during the forecast period. The adoption of consulting & development services is increasing among enterprises, due to their ability to simplify complex big data solutions for better decision making.
"The risk & fraud analytics application segment is expected to lead the Hadoop big data analytics market during the forecast period"
Based on application, the risk & fraud analytics segment is projected to lead the Hadoop big data analytics market from 2016 to 2021. The need to improve operational efficiencies, detect fraud immediately and more accurately, model and manage risks, and reduce customer churn are factors contributing to the growing demand for Hadoop big data analytics by financial sector companies.
"The transportation & SCM vertical segment of the Hadoop big data analytics market is projected to grow at the highest CAGR during the forecast period"
Based on vertical, the transportation & SCM segment of the Hadoop big data analytics market is expected to grow at the highest CAGR from 2016 to 2021. In the transportation sector, Hadoop big data analytics helps in information gathering related to real-time traffic and tracking of passenger movement. Innovative ways of transferring passengers to lesser crowded areas for efficient traffic management is propelling the adoption of Hadoop big data analytics in the transportation sector. In addition, the increasing need to integrate transportation & SCM sector with social media platforms and internet traffic to forecast production of various end products and take further decisions related to product pricing and promotions is further contributing to the growth of this segment.
"The Asia-Pacific Hadoop big data analytics market is projected to grow at the highest CAGR during the forecast period"
The Asia-Pacific Hadoop big data analytics market is projected to grow at the highest CAGR during the forecast period. This growth is mainly attributed to the increasing deployment of Hadoop big data analytics solutions by organizations in the Asia-Pacific region to enhance their efficiency and streamline their business processes.
Breakdown of profiles of primaries is presented below:
- By Company Type: Tier 1 - 18%, Tier 2 - 36%, and Tier 3 - 46%
- By Designation: C-level - 55%, Director-level - 36%, and Others - 9%
- By Region: North America - 14%, Europe - 29%, Rest of the World - 57%
Key vendors profiled in the report are as follows:
1. Microsoft Corporation
2. Amazon Web Services
3. IBM Corporation
4. Teradata Corporation
5. Tableau Software, Inc.
6. Cloudera Inc.
7. Pentaho Corporation
8. MarkLogic Corporation
9. SAP SE
10. Pivotal Software, Inc.
This study provides detailed segmentation of the Hadoop big data analytics market on the basis of component, application, vertical, and region. Based on component, the market has been segmented into solution and service. Furthermore, the solution segment has been classified into packaged software, management software, and application software. The service segment has been categorized into admin & managed services, consulting & development services, and training & support services. Based on application, the market has been segmented into risk & fraud analytics, Internet of Things (IoT), merchandizing & supply chain analytics, customer analytics, offloading mainframe application, security intelligence, operational intelligence, linguistic analytics, and distributed coordination service. Based on vertical, the market has been segmented into BFSI, government & defense, healthcare & life sciences, manufacturing, retail & consumer goods, media & entertainment, energy & utility, transportation & SCM, IT & telecommunication, academia & research, and others. Geographic analysis of the market includes regions such as North America, Europe, Asia-Pacific (APAC), Middle East & Africa (MEA), and Latin America.
Key Benefits of Buying the Report:
The report will help market leaders/new entrants in the following ways:
1. This report comprehensively segments the Hadoop big data analytics market, and provides closest approximations of revenue numbers for the overall market and its subsegments across different regions.
2. The report helps stakeholders understand the pulse of the market, and provides insights on key drivers, restraints, challenges, and opportunities in the Hadoop big data analytics market.
3. This report helps stakeholders to obtain better understanding of their competitors, and gain more insights to enhance their position and business in the Hadoop big data analytics market. The competitive landscape section includes new product launches, partnerships, agreements & collaborations, mergers & acquisitions, and expansions undertaken by key players in the Hadoop big data analytics market.
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