Hadoop Big Data Analytics Market Forecast to Reach $24.43 Billion by 2027

May 05 19:27 2022
Hadoop Big Data Analytics Market Forecast to Reach $24.43 Billion by 2027
Hadoop Big Data Analytics Market | IndustryARC
Increasing Cyber Threat and Data Privacy Issues Is Analysed To Hamper the Hadoop Big Data Analytics Market Growth

Hadoop Big Data Analytics Market is analysed to grow at a CAGR of 19.31% during the forecast 2022-2027 to reach $24.43 billion by 2027. Hadoop is an open source structure software platform which is developed for scalable and distributed computing of large volume of data. 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. 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 Big Data Analytics Market size during the forecast period. 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 Big Data Analytics industry for various enterprise applications during the forecast period.

Hadoop Big Data Analytics Market Segment Analysis – By Offering

By Offering, the Hadoop Big Data Analytics Market Report is segmented into Data Discovery and Visualization, Distributed File System, Social Media Analytics, Hypertext Transfer Protocol and Others. Data Discovery and Visualization are analysed to be the highest growing segment with a CAGR of 22.12% among other offerings of Hadoop Big Data Analytics Market during the forecast period 2022-2027 owing to the increase in the demand of business intelligence solutions across various enterprises. With the advancement in technologies, businesses across the globe are majorly turning to visualization-based data discovery solutions. The growing trend toward visualization-based data discovery tools is worth exploring by any organization that seeks to derive more value from Big Data. The potential business benefits are significant and data governance practices can be used to help ensure the safe transition. These benefits tend to drive the market growth of Hadoop big data analytics market for Data discovery and visualization application, further driving its market growth. For instance, In June 2020, Cloudera and IBM entered into a partnership for bringing AI solutions and advanced data analytics to organizations on the Apache Hadoop ecosystem which are aimed to offer better data analytics and visualization solution in accelerating the decision-making process.

Hadoop Big Data Analytics Market Segment Analysis – By End-Use Industry

By End-use Industry, the Hadoop Big Data Analytics Market Report is segmented into Banking, Finance Services and Insurance (BFSI), Retail, Government & Public Sector, Healthcare, IT & Telecommunication, Manufacturing, Transportation & Logistics and Others. Healthcare industry is analysed to be the highest growing segment with a CAGR of 21.31% among other industries of Hadoop Big Data Analytics Market during the forecast period 2022-2027 owing to the growing demand of efficient and smooth functioning cloud-based solutions in this sector. Deployment of Hadoop big data analytics in Healthcare sector offers wide range of benefits such as easy access to medical records, huge data storage, scalability, efficient data visualization, monitoring health records and many others. Furthermore, with the sudden increase in the number of Covid-19 positive cases, the demand for advanced data analytics solutions witnessed a major trend in healthcare sector which has brought significant growth in the demand of Hadoop Big data analytics solutions, which is analysed to drive its market growth during the forecast period. For instance, in March 2021, In Sync Healthcare solutions updated their cloud-based healthcare solutions with new features such as expandable custom tabs to capture data and optimize those into visualization for better decision-making process in Healthcare sector, further driving the Hadoop Big Data Analytics Market.

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Hadoop Big Data Analytics Market Segment Analysis – By Geography

North America is analysed to be the major region with a share of 34% in 2021 for the Hadoop Big Data Analytics Market owing to the availability of leading market players for the Hadoop Big Data Analytics Market coupled with increasing investments in the IT infrastructure development in this region. North America has witnessed massive increase in the IT industry requirements and deployment of Hadoop big data analytics solutions across various industries. North America is among the leading innovators and pioneers for the adoption of Big Data analytics which is analysed to be a major driver the demand of Hadoop big data analytics solutions. The market in the United States is expected to experience a greater traction as a significant number of organizations are likely to set-up for cloud services to save their upfront cost of building new data centres for business continuity. For instance, 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 Big Data Analytics Market during the forecast period.

Hadoop Big Data Analytics Market Drivers

Increasing deployment of cloud-based solutions across various industries is driving the demand of Hadoop Big Data Analytics solutions

Increasing deployment of cloud-based solutions across various industries to optimize industrial digitalisation is a major driving factor for the growth of Hadoop Big Data Analytics Market during the forecast period. Various countries across the globe are investing significantly in the digitalisation to enhance their work efficiency and flexibility. Interoperability across various cloud environments and surge in the demand of efficient business intelligence technology for better decision-making process tend to drive its market growth across various enterprises. For instance, 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 application of Hadoop Big Data Analytics solutions, further propelling its market growth. Hadoop Big data analytics offers the faster, cost-effective and more democratized business intelligence model which takes advantage of the intersection of the mobile workforce and Big Data and to speed insights and enhance collaboration which is analysed to be a major driving factor for the Hadoop Big Data Analytics Market growth.

Deployment of Hadoop big data analytics in Healthcare sector across the globe is propelling its market growth

Deployment of Hadoop Big data analytics in the Healthcare sector across the globe is shifting the conventional ecosystem of health infrastructure into smart healthcare ecosystem which is analysed to be a major factor for its market growth. Digital transformation can help individual health care organizations by offering wider health ecosystem which provides improved ways of working, expands access to various services and aims to deliver a more effective patient and clinician experience. Healthcare organizations are in transition to health IT systems, powered by integration of cloud-based and big data analytics tools to enable real-time, smart digital health. For instance, In April 2020, IBM released novel AI-powered big data analytics technologies to help the Health and Research Community in accelerating the discovery of medical insights and treatments for COVID-19. This tend to bring huge impact in the demand of Hadoop big data analytics solutions, further driving its market growth during the forecast period.

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Hadoop Big Data Analytics Market Challenges

Increasing cyber threat and data privacy issues is analysed to hamper the Hadoop Big Data Analytics Market growth

One of the most important factor restraining the market growth of Hadoop Big Data Analytics Market across the global is the increasing cyber threat across the globe. With the continuous evolution of technologies, the rate of data intrusions is also increasing. Hence, data privacy and security are essential while developing analytics solutions for varied enterprise applications. Once the big data is collected, it undergoes parallel processing. With the increasing cyber threats across various industries, Hadoop big data analytics solutions are vulnerable to hacking, which means sensitive organizations data could fall into the wrong hands which may cause severe damages. As the deployment of Hadoop big data analytics is witnessing considerable growth in BFSI sector, the threat of data breach of customers which may lead to financial losses tend to be a major restraining factor for its adoption in the near future. The misuse of data, whether intentional or not, can have serious legal consequences for both organizations and customers These factors tend to bring major challenges in the Hadoop Big Data Analytics Market growth during the forecast period.

Hadoop Big Data Analytics Industry Outlook

Production Innovation, Acquisitions, Collaboration, and R&D activities are key strategies adopted by players in the Hadoop Big Data Analytics Market. In 2021, the market of Hadoop Big Data Analytics industry outlook has been fragmented by several companies. Hadoop Big Data Analytics top 10 companies include

Amazon Web Services

Hewlett Packard Enterprise

IBM Corporation

Google Inc.

Microsoft Corporation

Pentaho Corporation

Pivotal Software, Inc.

SAP SE

Tableau Software, Inc.

Teradata Corporation

Recent Developments

In July 2020, Google Cloud announced BigQuery Omni powered by Anthos for Multi-Cloud Analytics. BigQuery Omni provides enterprises with the flexibility they need to break down silos and create actionable business insights, without having to pay expensive egress fees for moving data from other cloud providers to Google Cloud. It will help customers securely and cost-effectively access, analyse, and find new insights empowering innovation in their business.

In June 2020, HPE launched HPE Ezmeral, a new software portfolio and brand that will accelerate data-driven transformation across organizations. HPE Ezmeral provides a complete portfolio, including container orchestration and management, AI/ML and data analytics, cost control, IT automation and AI-driven operations, and security.

In September 2019, Google introduced Cloud Storage Connector for Hadoop Big Data Workloads. This new capability allows organizations to substitute their traditional Hadoop Distributed File System (HDFS) with Google Cloud Storage which are designed to optimise enterprise working efficiency.

Key Takeaways

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

Data Discovery and Visualization are analysed to hold highest share 37.12% in 2021 owing to surge in the demand of business intelligence (BI) solutions across various enterprises.

IT & Telecommunication industry is analysed to hold the highest market share 31.21% during the forecast period owing to the large amount of data generated across this vertical which propels the demand of Hadoop big data analytics solutions for efficient working across the enterprise.

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

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