Hadoop Market Size to Hit $35.2 Billion by 2027 | Exhibit a CAGR of 14.3% (2022-2027)

Market Research Reports, Business Consulting Services & Analytics

Hadoop Market Drivers Increasing Deployment of Cloud-Based Solutions Across Various Industries is Driving the Demand of Hadoop Solutions

HYDERABAD, TELANGANA, INDIA, January 4, 2023 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that Hadoop Market is analysed to grow at a CAGR of 14.3% during the forecast 2022-2027 from $35.2 Billion in 2021. Hadoop is an open source software platform which is developed for scalable and distributed computing of large volume of data utilzing java runtime environment. It provides high performance and cost-effective analysis of Big Data generated by the enterprises through digital platforms and offers data discovery and visualization, social media analytics, distributed file system, hypertext transfer protocol and other enterprise applications of various both unstructured and structured data types utilizing shell scripts and java archive. With the increasing deployment of cloud-based solutions and its integration with internet of things (IoT) tend to be a major driving factor for the growth of Hadoop Market size during the forecast period. However in certain use cases, According to PR Newswire report, more than half of the Fortune 50 companies adopted Hadoop by 2012. In 2021, this figure has grown to more than 4 in 5 companies. However, this number is expected to stabilize over the forecast period. Hadoop is slowly becoming outdated with the advent of disruptive tech like cloud computing. For instance, SAS, a multinational developer of analytics software created a best-in-class hybrid cloud analytics solution with its Red Hat which aimed to accelerate customer adoption of analytics across various enterprises with its integration with existing cloud and IoT solutions. This partnership tends to accelerate the Hadoop industry for various enterprise applications during the forecast period. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways:

1. Increasing deployment of cloud-based solutions across various industries for optimizing industrial digitalization is analysed to significantly drive the Hadoop Market during the forecast period 2022-2027.

2. Data Discovery and Visualization are analysed to hold highest share 37.4% in 2021 owing to surge in the demand of business intelligence (BI) solutions across various enterprises.

3. IT & Telecommunication industry is analysed to hold the highest market share 30.9% during the forecast period owing to the large amount of data generated across this vertical which propels the demand of Hadoop solutions for efficient working across the enterprise.

4. North America is analysed to hold the highest share at 33.9% in 2021 owing to the increasing IT industry requirements and rising integration of hybrid platform technologies across various industries.

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Segmental Analysis:

1. Data Discovery and Visualization are analysed to be the highest growing segment with a CAGR of 17.2% among other offerings of Hadoop Market during the forecast period 2022-2027 owing to the increase in the demand of business intelligence solutions across various enterprises.

2. Healthcare industry is analysed to be the highest growing segment with a CAGR of 16.3% among other industries of Hadoop Market during the forecast period 2022-2027 owing to the growing demand of efficient and smooth functioning cloud-based solutions in this sector.

3. North America is analysed to be the major region with a share of 33.9% in 2021 for the Hadoop Market owing to the availability of leading market players for the Hadoop Market coupled with increasing investments in the IT infrastructure development in this region.

4. According to Cisco, in 2021, 73% of the cloud workloads and compute instances will be in public cloud data centres in United States, up from 58% in 2019. This huge growth in cloud workloads tend to be significant driving factor for the growth of Hadoop Market during the forecast period.

Competitive Landscape:

The top 5 players in the Hadoop industry are -

1. Amazon Web Services

2. Hewlett Packard Enterprise

3. IBM Corporation

4. Google Inc.

5. Microsoft Corporation

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B. Hadoop Big Data Analytics Market
https://www.industryarc.com/Research/Hadoop-Big-Data-Analytics-Market-Research-500769

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