Zion Market Research has published a new report titled “Hadoop Market by Type (Software, Hardware and Services) for BFSI, Government Sector, IT & ITES, Healthcare, Telecommunication, Retail and Other End-Uses: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022”. According to the report, the global Hadoop market was valued at approximately USD 7.69 billion in 2016 and is expected to reach approximately USD 87.14 billion by 2022, growing at a CAGR of around 50% between 2017 and 2022.
Hadoop is an open source framework which is designed for storing and processing big data in a distributed environment across clusters of computers. To store and process the unstructured and structured data it uses simple programming models. It is designed to scale up from single servers to many of machines, each offering local computation and storage.
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Hadoop is useful for scalable storage platform as Hadoop can store and distribute the very large amount of data. Another benefit of Hadoop is cost effective storage solution for businesses. Additionally, Hadoop is flexible as with the help of businesses are enable to easily access new data sources and tap into different types of data like structured and unstructured for generating value from that data. It means businesses can use Hadoop for deriving valuable business insights from data sources such as email, social media, e-conversations and others. Hadoop can also be used for a wide variety of purposes, like, data warehousing, log processing, recommendation systems, market campaign analysis fraud detection and others.
The Hadoop market is driven by increasing demand for the big data coupled with growing volume of structured and unstructured data. Another important factor that is expected to propel the market growth of Hadoop is escalating demand for effective and faster accessibility of data among various industries like healthcare, banking & finance, manufacturing, biotechnology & defense. However, distributed computing and security issues are major challenges which may slow down the demand of Hadoop. Continuous development and huge investment in Hadoop technologies are anticipated to disclose new opportunities during the upcoming years.
Hadoop market is segmented on the basis of type, end users, and regions. Type segment includes software, hardware, and service. End user segment includes BFSI, government sector, IT & ITES, healthcare, telecommunication, retails and others.
Hadoop Market is analyzed on basis of end user application in various sectors. The retail sector is using Hadoop technology due to the expansion of organized retail industries and generation of huge amount of data. The government sector is the second most attractive market and generating the highest revenue due to the high amount of data generation and the necessity for data analysis. Adoption of Hadoop has proven beneficiary for these sectors as is provides cost-effective solutions for data analysis. Hadoop technology is helpful for accurate data analysis, to check adequate data and avoid possible threats and help to take a right decision.
Browse the full “Hadoop Market by Type (Software, Hardware and Services) for BFSI, Government Sector, IT & ITES, Healthcare, Telecommunication, Retail, and Others End-Uses: Global Industry Perspective, Comprehensive Analysis, Size, Share, Growth, Segment, Trends and Forecast, 2016 – 2022” report at https://www.zionmarketresearch.com/report/hadoop-market
The study provides a decisive view on the Hadoop market and market has been classifying on the basis of type, end user, and regions. Some of the major participants operative in Hadoop market includes Teradata Corporation, Amazon Web Services, IBM Corporation Cisco Systems, Cloudera, Inc., Datameer, Inc., Hortonworks, Oracle Corporation, Inc., VMware, OpenX, and amongst others.
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