According ro market research report "Hadoop Big Data
Analytics Market by
Component (Solutions and Service), Deployment Mode, Organization Size, Business
Function, Vertical (BFSI, Healthcare and Life Sciences, Manufacturing), and
Region - Global Forecast to 2025", published
by MarketsandMarkets™, the Hadoop Big Data Analytics Market size to grow from USD 12.8 billion
in 2020 to USD 23.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of
13.0% during the forecast period. Various factors such as the growing focus on
digital transformation, rise in investments in analytics, increasing focus on
remote monitoring in support of the COVID-19 pandemic, growing adoption of
smart payment technologies, and business need to build a digital infrastructure
for large-scale deployments are expected to drive the adoption of Hadoop Big
Data Analytics Market.
The
Hadoop Big Data Analytics Market is
expected to witness a slowdown in its growth in 2020 owing to lockdowns imposed
worldwide due to COVID-19. These lockdowns have been impacting the global
manufacturing, retail and eCommerce, government, and public sectors. They have
also influenced supply chains and logistics owing to complete or partial
halting of operations in various verticals. Manufacturing, transportation and
logistics, and retail and eCommerce, etc. are the worst-hit sectors.
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in-depth TOC on “Hadoop Big Data Analytics Market”
243 – Tables
59 - Figures
318- Pages
The
availability of essential items has been impacted owing to the lack of manpower
to manufacture these items and transport them, even though essential items have
been exempted from lockdowns. The condition is expected to come under control
by early 2021, while the demand for Hadoop big data analytics solutions and
services is expected to increase owing to surging demand for remote health
monitoring of individuals and assets, sales and customer management, predictive
asset maintenance, energy management, and inventory management.
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Businesses in various verticals are already planning to deploy a
diverse array of Hadoop big data analytics solutions to carry out the digital
transformation of mission-critical processes, which are expected to improve
their operations and strengthen customer relationships. The reduction in
infrastructure and operational costs, improvement in customer experiences,
enhancement in data security and privacy, increase in operational visibility
for various processes, and improvement in real-time business decision-making
are the key business and operational priorities of enterprises that are
expected to drive the adoption of Hadoop big data analytics solutions
worldwide.
The marketing and sales business function to hold a larger
market size during the forecast period
The Hadoop Big Data Analytics
Market by business function has been segmented into marketing and sales,
operations, finance, and human resources. The marketing and sales segment is
expected to grow at a rapid pace in the coming years in the Hadoop Big Data Analytics Market. The growing
use of structured and unstructured data across marketing and sales to
understand and enhance customer experience is expected to fuel the adoption of
Hadoop big data analytics solutions and services.
The BFSI vertical to hold the largest market size during the forecast
period
The Hadoop Big Data Analytics
Market is segmented based on vertical. The verticals include BFSI,
transportation and logistics, retail and eCommerce, manufacturing,
telecommunications and IT, healthcare and life sciences, government and public sector,
media and entertainment, travel and hospitality, others (energy and utilities,
education and research, and real estate). The BFSI segment is expected to hold
the largest market size during the forecast period in the Hadoop Big Data Analytics Market. The growth of
the BFSI vertical can be attributed to the dynamic and competitive nature of
the BFSI market, characterized by changing consumer demands, evolving
macroeconomic landscapes, and evolving regulatory frameworks. Hadoop big data
analytics solutions can empower the vertical to navigate challenges by lowering
infrastructure costs, automating non-core business applications such as CRM and
ERP, and bringing innovative products in the market.
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Among services, the managed services segment to grow at a higher CAGR during
the forecast period
The Hadoop Big Data Analytics
Market is segmented on services into two categories, namely,
professional services and managed services. The growth of the managed services
segment can be attributed to the rise in the adoption of the work from home
strategy by various companies, which has spurred the demand for Hadoop big data
analytics managed services in the market. This increase in demand is by
companies that are looking forward to shifting their focus on business-critical
tasks.
North America to hold the largest market size during the forecast
period
North America is the largest revenue contributor to the global Hadoop Big Data Analytics Market. The region is
witnessing significant developments in the Hadoop
Big Data Analytics Market. Many Hadoop big data analytics solution
providers in North America are experimenting in the Hadoop Big Data Analytics Market by integrating IoT, AI, and ML
functionalities with their existing Hadoop big data analytics solutions. They
are also adopting various growth strategies to strengthen their positions in
the market.
The US government has provided support by promoting an ideal
environment for research and innovation, leading to advancements in various
fields of science and technology. The government is focused on enhancing the
quality of life of its citizens and has made investments toward the integration
of big data analytics, AI, and IoT solutions and services across application
sectors, driving the growth of the US.
APAC has witnessed the advanced and dynamic adoption of new
technologies and is expected to record the highest CAGR during the forecast
period. The commercialization of the IoT technology, giving rise to increased
data generation, and the need for further advancements to leverage its benefits
to the maximum are expected to drive the adoption of Hadoop big data analytics
solutions in the region.
Major vendors in the global Hadoop Big Data Analytics Market include Microsoft (US), AWS (US), Cloudera
(US), HPE (US), IBM (US), Oracle (US), SAP (Germany), Google (US), SAS
Institute (US), Salesforce (US), TIBCO Software (US), Alteryx (US), Micro Focus
(UK), Hitachi Vantara (US), Qubole (US), Splunk (US), Dell Technologies (US),
Huawei (China), Dremio (US), Imply (US), Starburst (US), Alluxio (US),
TheMathCompany (US), Kyvos Insight (US), and Amlgo Labs (India).
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