Global Hadoop Market - Key Players, Size, Trends, Opportunities, Growth- Analysis to 2023

Hadoop Market is a distributed processing technology used for Big Data analysis. Hadoop technology is expanding the market at a significant rate as it provides a more cost effective and faster solution than traditional data analysis tools such as RDBMS. Studies show that the Hadoop market has a great future prospect in the trade and transportation, BFSI and retail sectors.
The global Hadoop market is likely to expand at a phenomenal +29% CAGR between 2018 and 2023.

The main drivers of Hadoop Market growth are increased structured and unstructured data, increased demand for large data analysis, and rapid and rational data processing services provided by Market. The distributed computing and security issues of the Hadoop Platform are major constraints to the growth of this market. Global Market is categorized as software, hardware and services based on products. Global Market makes the biggest profit in Global Market.

Key companies operating in the global Hadoop Market include Cloudera Inc., MapR Technologies Inc., IBM Corp., Hortonworks, and EMC Corp.

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This Hadoop Market is segmented into server, storage and network equipment markets. The storage market generates the largest revenue for the entire market. More data has been generated due to technological advances. At the same time, the growing storage space required the market to grow. The market is also divided into consulting services, Hadoop training and outsourcing services, integration and distribution services, and middleware and support services. The consulting services market generates the largest revenue in the entire market. A major factor in generating this revenue is the adoption of Big Data analysis in corporate decision making.

The global Hadoop Market on the basis of application can be segregated into banking, financial service and insurance (BFSI), manufacturing, retail, telecommunications, healthcare and Lifesciences, media and entertainment, natural resources, trade and transportation, government, IT and ITES, and others.

Hadoop's Bulk Data Analysis Vertical and Transportation segments are expected to grow to the highest CAGR for the forecast period as the transportation and SCM sectors are integrated with social media platforms and Internet traffic and the need for forecast production increases. You can make decisions about product pricing and promotions. The BFSI segment of the Hadoop Market is expected to lead the market from 2018 to 2023.
Growth in the BFSI sector is driven by the data-centric nature of the BFSI industry, which leverages the power of Big Data. Analytics helps customers understand and update their services to suit their needs.

Geography-wise, the key segments into which the Hadoop Market is divided are North America, Europe, Asia Pacific, and Rest of the World (RoW). North America currently contributes the leading revenue to the market. The supremacy of the region is attributed to digitally and technologically advanced infrastructure across industries. While Europe is predicted to display stable growth, Asia Pacific is estimated to witness to emerge as a key market for Hadoop in the years ahead. Increasing adoption of Hadoop across several end use segments and incessant adoption of electronic devices leading to the generation of massive amount of data.

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