Global Hadoop market was worth USD 1.5 billion in 2012 and is expected to reach USD 20.9 billion in 2018, growing at a CAGR of 54.7% from 2012 to 2018, according to a new market report published by Transparency Market Research.
In the new report, “Hadoop Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012- 2018”, Transparency Market Research has segmented the Hadoop market into hardware, software and services.
Services segment accounted for about half of the market share followed by hardware in 2012. It is expected to maintain its leading position throughout the forecast period. The complexities associated in handling Hadoop architecture is primarily contributing to the growth of the services segment. However, the software segment will witness fastest growth during the forecast period and will surpass the hardware segment in terms of revenue by 2017. This is due to continuous technology changes taking place in the software market.
Government, banking, healthcare, retail
Among different application sectors for the Hadoop market, the government sector is the largest followed by BFSI (Banking, Financial Services and Insurance), healthcare and life sciences, and retail. The government sector has access to large pools of data and faces several challenges related to data management and data handling.
Telecommunication is in the initial stage of Hadoop implementation and by the middle of the forecast period (i.e., after 2014), this sector is expected to see full-fledged adoption of Hadoop architecture. As a result, it is estimated to see the fastest growth during the period 2012 – 2018.
Big data management
The Hadoop market is driven by exponentially growing volumes of unstructured data and Hadoop’s capacity to access data at faster speed and cheaper cost as compared to conventional systems such as RDBMS (Relational Database Management System). Hadoop not only adds new capabilities in the data management system and can manage unstructured data; it can do so at a higher speed and lower cost. This has resulted in Hadoop gaining popularity in recent years as one of the best big data management solutions available.
However, the market would face certain challenges such as unavailability of qualified and experienced work professionals, who can effectively handle the Hadoop architecture. Companies across almost all the application sectors are looking for qualified work professionals to handle this architecture.
Browse the full report: http://www.transparencymarketresearch.com/hadoop-market.html.