PORTLAND, USA: As stated by a fresh report Courtesy, Allied Market Research entitled “Hadoop Market (Hardware, Software, Services and HaaS, End Use Application, and Geography) – Industry Growth Trends and Forecasts Through 2020,” the global hadoop market is projected to grow at a CAGR of 58.2 percent between fiscal 2013 and 2020.
The market revenue was estimated to be $2 billion in fiscal 2013 and is estimated to grow to $50.2 billion by 2020. Upsurge in demand for big data analytics stands as the key driver for this market.
Colossal expansion in raw structured and unstructured data and snowballing demand for Big Data analytics act as the major driving factors for global Hadoop market as it delivers cost effective and faster data processing of Big Data analytics over conventional data analysis tools such as Relational Database Management Systems (RDBMS).
Now, distributed computing and Hadoop platform security issues are hindering the growth of this market. Nevertheless, with incessant technological growth these issues can be addressed. Furthermore, gradual lowering operating costs to deliver data management solutions that will in turn augment to the growth of this market.
Hadoop market, on the basis of type, is segmented into software, hardware and services market. Currently, services market is dominating with a market share of about 50 percent of the global Hadoop market owing to growing necessity of data analysis in various organizations. Hadoop services market is further segmented into consulting, training and outsourcing, integration and deployment, and middleware & support services.
Consulting, and training and outsourcing segments accounted for maximum revenue in fiscal 2013, whereas, integration and deployment services is the fastest growing services market during the forecast period due to increasing investment in big data analytics and necessity of real time operations.
Hadoop software market is anticipated to have the highest growth rate in the overall global Hadoop market. The increasing venture capital investments lead to addition in number of Hadoop distributors, which is the major reason for growth of Hadoop software market. Hadoop software market is further segmented as application software, management software, packaged software and performance monitoring software markets.
In fiscal 2013, application software had generated the highest revenue of the overall global Hadoop software market. The main reason for this is the use of application software by developers to build applications intended for data analysis. Hadoop packaged software market is likely to grow at a CAGR of 62.9 percent during the forecast period. One of the reasons being, leading organizations such as MapR Technologies, Hortonworks and Cloudera majorly deal in Hadoop packaged software solutions.
Correspondingly, Hadoop packaged software affords easier deployment of Hadoop clusters. As a consequence, Hadoop projects such as MapReduce, Sqoop, Hive and others can be smoothly integrated.
Hadoop Hardware Market is segmented as servers, storage, and network equipment markets. In 2013, storage market was leading segment in Hadoop hardware market in terms of revenue, primarily due to social media websites like Facebook, Twitter, and LinkedIn, which add up terabytes of data each day. Hadoop servers market is expected to have a CAGR of 60.1 percent during 2013-2020, taking into consideration the volume and velocity at which raw data is expanding.