Hadoop Big Data Analytics Market

Global Hadoop Big Data Analytics Market Size (2024 to 2032)

The global Hadoop big data analytics market was worth USD 27.23 billion in 2023. The global market size will extend from 30.77 billion in 2024 to 81.80 billion by 2032, and also develop at an annual growth rate CAGR of 13.0% during of the forecast period.

Hadoop is an open source framework for storing data and running applications on basic hardware clusters. Hadoop provides excellent flexibility for businesses and allows businesses to easily access and process data. Big Data is a massive volume of data that can be structured or unstructured.

Big data analysis is a generally advanced method of examining large and varied datasets, or big data to reveal information such as hidden patterns, unknown correlations and market trends as well as the preferences of customers who can facilitate the creation of new data for organizations. trade selections. Data analysis technologies and techniques provide methods for studying and drawing data sets to help organizations make business selections. Business Intelligent queries answer key questions about business operations and performance.

For telecom operators, the increase in data from social platforms, connected devices, call data recordings, pose great challenges in data management. For telecoms operators, big data analytics provide real-time insight into potential risk factors, enabling them to mitigate fraud risks and improve business revenues, while maintaining customer satisfaction.

The banking and financial industry benefits from faster data processing and management at minimal cost. Big data analytics helps financial firms retain more customers by analyzing behaviors and identifying patterns that lead to customer turnover. Other applications of big data in banking and finance include customer segmentation and experience analysis, credit risk assessment, and specific services. North America is expected to hold a massive share of the Hadoop big data analytics market due to the rapid adoption of advanced technologies in countries like United States and Canada.

Due to advancements in new technologies, devices and communications, the amount of data produced is increasing rapidly from year to year. The studied market is primarily driven by the growing demand for implementing Big Data analytics solutions to analyze exponentially growing structured and unstructured data, to obtain actionable insights, which can be used for various decision-making processes in the future.

MARKET DRIVERS

The growing need for Big Data analytics and the increasing volume of digital information are driving the demand in the global Hadoop big data analytics market. The convergence of Big Data and the Internet of Things is also driving this business growth. Also, the call for big data and cost-effective quick fixes from Hadoop is increasing worldwide, promoting market growth.

MARKET RESTRAINTS

However, the lack of a Big Data regulatory framework and the lack of security hinder the growth of the worldwide market. The immaturity of the Hadoop platform also hampers this industry growth. Furthermore, the shortage of qualified professionals also limits the developments in the market.

MARKET TRENDS

Data discovery and visualization gain ground due to the emergence of Big Data Analytics

• Businesses are turning to visualization-based data discovery solutions. These solutions promote self-service business intelligence (BI), enabling multitudes of users to easily integrate data from a wide range of sources: click streams, log files, social media, videos, and more.
• Any organization looking to get more value from big data is worth exploring the growing trend of visualization-based data discovery tools. The potential business benefits are significant, and data governance practices can be used to ensure a secure transition.
• One of the crucial aspects promoting the visualization-based data discovery solution is the rising accessibility to mobile devices. Organizations that continue to rely on centralized reporting from the few highly-skilled experts are missing the opportunity to adopt the fastest, most cost-effective, and most democratized business intelligence model that takes advantage of the intersection of the workforce. Mobile work and Big Data and to accelerate prospects and improve collaboration.

Impact of COVID-19 on the Global Hadoop Big Data Analytics Market

Hadoop big data analytics market is estimated to experience a slowdown in growth in 2020 due to lockdowns imposed around the world due to the coronavirus outbreak. The blockades have impacted the manufacturing, retail and electronics, government and public sectors around the world. They have also influenced supply chains and logistics due to the total or partial disruption of operations in various verticals.

REPORT COVERAGE

REGIONAL ANALYSIS

Europe and North America are the significant areas in the world that are estimated to provide promising opportunities for the companies that are operating in the global Hadoop big data analytics market. The developing economies of the Asia Pacific are expected to emerge as profitable markets to capitalize on in the coming years.

KEY PLAYERS IN THE GLOBAL HADOOP BIG DATA ANALYTICS MARKET

Some of the top companies in the global Hadoop big data analytics market are Tableau Software, Teradata Corporation, IBM Corporation, Amazon Web Services, Microsoft Corporation, and Pentaho Corporation.

RECENT HAPPENINGS IN THE MARKET

• In October 2019, Alteryx, Inc. announced about its acquisition of Feature Labs, a data science software company launched by the Massachusetts Institute of Technology (MIT) that automates functional engineering for machine learning and intelligence applications artificial (AI). This purchase of Feature Labs will allow Alteryx to support organizations empower every data worker to fill the voids in terms of talent in data science and machine learning.
• In October 2019, As part of an extension of its existing collaboration, SAS creates best-in-class hybrid cloud analytics solution by delivering industry-leading analytics on Red Hat OpenShift, the most comprehensive enterprise Kubernetes platform of the sector. Red Hat, the leading provider of open source technologies. The SAS-Red Hat collaboration combines industry-leading analytics with the industry's most comprehensive Kubernetes enterprise platform on Red Hat OpenShift, helping accelerate the adoption of customer analytics in the hybrid cloud.

DETAILED SEGMENTATION OF THE GLOBAL HADOOP BIG DATA ANALYTICS MARKET INCLUDED IN THIS REPORT

This research report on the global hadoop big data analytics market has been segmented and sub-segmented based on componentes, application and vertical

By Components

• Software 
• services

 By Application

• Risk and Fraud Analysis
• Internet of Things (IoT)
• Merchandising and SCM
• Customer Analysis
• Mainframe Download
• Security Intelligence, etc.

By Vertical

• BFSI
• IT & Telecom
• Government & Defense
• Manufacturing
• Transportation & Logistics
• Healthcare, etc.

By Region

• North America
• Europe
• Asia-Pacific
• Latin America
• The Middle East and Africa