big data analytics & Hadoop market size experienced control in 2022 is expected to reach USD 84.14 billion in 2028, exhibiting a CAGR of 23.9%

Updated On: 06 May 2024

Report Overview

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The global big data analytics & Hadoop market size experienced control in 2022. The global COVID-19 pandemic has been unprecedented and staggering, with big data analytics & Hadoop market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 84.14 billion in 2028, exhibiting a CAGR of 23.9% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

One of the open source framework networks for processing the influx of large data is big data analytics & Hadoop. It is also used to execute an application on a cluster of commodity hardware and to store data in an efficient manner. Both large and small businesses can handle their data using big data analytics & Hadoop, which are among the most adaptable and simple to use. Big data in Hadoop refers to a collection of either structured or unstructured data. Based on Java programming, big data analytics & Hadoop can handle millions of terabytes of data and smoothly transport the same volume of massive data between multiple nodes. It is widely employed in a variety of fields, including the growth of sales and company, and the data processing industry.

The capacity of Hadoop to process data more quickly and organize the enormous volume of unstructured data is what is driving the market for big data analytics & Hadoop. Due to the service's low cost, the market is being pushed. It is also being propelled to the point of success as the information and technology sector expands. Following the widespread use of the internet, the digitization process of numerous businesses and industries over the past several years has also increased market value. The online payments industry is also assisting the market, and it is anticipated that the market for big data analytics & Hadoop will continue to grow as a result of the world's rapid digital transformation.

COVID-19 Impact: Growth Of IT Sector Augments Market Development

The revelation of the COVID-19 outbreak in 2020 had a significant impact on the entire world. Due to the numerous markets being negatively impacted by the lockout restrictions, the economies of the world experienced negative impacts. The global supply chain was interrupted, which made it necessary for markets and enterprises around the world to temporarily suspend operations. The world's reliance on online operations for nearly everything that could be digitized, however, allowed the market for big data analytics & Hadoop to directly witness the good consequences of the pandemic. During the COVID-19 pandemic, the information and technology sector experienced substantial growth, which fuelled the growth of the market for big data analytics & Hadoop.

Latest Trends

"Assimilation Of Real-Time Technology Expands The Market"

The technology for monitoring and processing data in real-time has been incorporated into the big data analytics & Hadoop market. This has helped the market's expansion go even more in favour of success. Since the advent of real-time data tracking, big data analytics & Hadoop and its applications in the healthcare industry have improved. It has benefited governments all over the world to assist in tracking data on the spread of the virus in various regions of the world as well as their own country to assist in limiting and keeping a record of the infection.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into managed software, application software, performance management software, and others. The managed software segment will be leading the market by type during the market years 2022-2028.

• By Application Analysis

Based on application, the market can be divided into BFSI, telecommunication, healthcare, transportation, and others. The BFSI segment is predicted to pioneer the market by the application during the forecast period.

Driving Factors

"Digital Transformation Drives Market Growth "

The highly profitable IoT business and the expanding information and technological infrastructure are both contributing to the world's rapid growth. The global process of digitization has greatly enhanced the function of the market for big data analytics & Hadoop as a result of the internet's quick uptake. Since the previous ten years, the market for big data analytics & Hadoop has been driven by the unexpected increase in the flow of data and the need to store such a massive amount of data.

"Adaptation Of Smart Online Payment Method Proliferates Product Demand"

Going cashless and implementing smart online payments have increased the number of digital banking and online payment initiatives, which directly impacts the big data analytics & Hadoop market growth at a rapid rate. Since more people are using digital payments globally, the market for big data analytics & Hadoop is becoming more and more well-known and successful as the world and technology are both growing. This includes the world of online banking and smart payments.

Restraining Factors

"Breaching Data Privacy Hinders Market Value"

The possibility of a data breach in the market for big data analytics & Hadoop is greater due to the handling of enormous amounts of data. The open source architecture not only deals with transient and pointless data generated by social networks, but it also deals with a sizeable amount of sensitive data, raising the possibility of hackers breaching the privacy of numerous internet users.

Regional Insights

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"North America Champions Market Due To Strong IT Infrastructure"

Due to the robust infrastructure of the information and technology sector and its explosive growth over the past few years, the North American region dominates the market for big data analytics & Hadoop. One of the region's most well-known accomplishments is being among the first to identify and accept new technologies.

The European region holds the second most big data analytics & Hadoop market shares and this is due to a large number of users of the internet and the growing activities of applications being tailored to the consumers. The region's IT infrastructure is growing more robust, which is contributing to the rise.

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Market Players Profiled

• Cloudera Inc. (United States)
• Hortonworks (United States)
• Hadapt (United States)
• Amazon Web Services Llc (United States)
• Outerthought (Belgium)
• Mapr Technologies (United States)
• Platform Computing (Canada)
• Karmasphere (United States)
• Greenplum (United States)
• Hsreaming Llc (United States)
• Pentaho Corporation (United States)
• Zettaset (United States)
• Mindlinc (US) (United States)
• Netsmart (US) (United States)
• Nextgen Healthcare (US) (United States)
• Nextstep Solutions (US) (United States)
• Nuesoft Technologies (US) (United States)
• Qualifacts (US) (United States)
• Raintree Systems (US) (United States)
• Sigmund Software (US) (United States)
• The Echo Group (US) (United States)
• Theranest (US) (United States)
• Valant (US) (United States)
• Welligent (US) (United States)
• Wrs Health (US) (United States)

Report Coverage

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors such as segmentation, opportunities, industrial developments, trends, growth, size, share, and restraints. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.