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.
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It is designed to scale up from single servers to many of machines, each offering local computation and storage.
Hadoop is useful for scalable storage platform as Hadoop can store and distribute the very large amount of data.
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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.
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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 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.
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The global hadoop market is expected to grow at a CAGR of 53.7% over the forecast period 2015 to 2022. Increasing investments in data management, rising amount of structured and unstructured data, hasty growth in consumer data and rapidly increasing demand for big data analytics are the factors influencing the market growth.
Furthermore, advancements in technology, increasing demand for effective and faster accessibility of data in various enduse industries such as Banking, Financial services and Insurance (BFSI), telecommunication and healthcare are acting as major drivers for growth of this market. However security & performance issues, immature platform are the factors restraining the market growth.
Service segment is valued to account for the largest share across the global market and software segment is expected to register the highest growth due to increasing penetration of Hadoop software in various industries such as BFSI, government and telecommunication. Hadoop application software has the dominant share in global market and is expected to continue its dominance throughout forecast period owing to increasing operation by developers to make real time applications.
Based on end user industry, IT & ITES segment has the leading market share in 2015 and Banking, Financial services and Insurance (BFSI) segment is expected to witness high growth rate.
Table of Content:-
1 Executive Summary
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
3 Market Trend Analysis
3.6 End User Analysis
3.7 Emerging Markets
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