According to a new report published by Allied Market Research titled, “World Hadoop Market – Opportunities and Forecasts 2014–2021,” the global Hadoop market is expected to garner revenue of $84.6 billion by 2021, registering a CAGR of 63.4% during 2016 to 2021. North America accounted for around 52% share of the overall market revenue in 2015, owing to higher rate of adoption in industries such as IT, banking, and government sector. Europe is anticipated to witness the fastest CAGR of 65.7% during the forecast period (2016 – 2021).
The Hadoop ecosystem comprises Hadoop software, hardware and services. In 2015, the services segment dominated the market, accounting for approx. 49% share owing to growing demand for big data analysis across various organizations. The Hadoop services market is further segmented into “consulting, training & outsourcing”, “integration & deployment”, and “middleware & support services”. The consulting, training & outsourcing segment generated revenue of $1.6 billion in 2015. The integration & deployment services segment would witness the fastest CAGR of 64.8% during the forecast period, due to increasing investments in big data analytics and demand for real-time operations. The Hadoop software market is segmented into application software, management software, packaged software, and performance monitoring software. Application software was the highest revenue-generating segment in the market in 2015, whereas packaged software segment is anticipated to grow at the fastest CAGR by 2021.
The major end users of Hadoop-based products and services comprise manufacturing, BFSI, retail, telecommunication, healthcare & life sciences, hospitality & travel, media & entertainment, trade & transport, government sector and IT & ITES. Among all the verticals, BFSI would be the highest revenue generating sector from 2016 onwards, constituting 14.7% of the overall market by 2021. In terms of growth, Trade and transportation sector is anticipated to witness the fastest CAGR of 76.3% during 2016–2021.
KEY FINDINGS OF THE STUDY
- Currently, North America is the highest revenue-generating market for Hadoop-based products and services
- Trade & transportation industry would witness the fastest adoption of Hadoop-based services and products over the next 5 years
- The European Hadoop market would witness the fastest growth during 2016–2020
- The integration & deployment service segment would grow at the fastest CAGR of 64.8% by 2021
- The packaged software segment would grow at the fastest CAGR of 67.3% by 2021
The key companies profiled in this report, include Amazon Web Services, Cisco Systems, Inc., Cloudera, Inc., Datameer, Inc., Hortonworks, Inc., Fair Isaac Corporation, MapR Technologies, Teradata Corporation, Teradata Corporation, and MarkLogic. Renowned players, including Hortonworks, Inc., Cloudera, Inc., Mark Logic, and others have focused on development of advanced, Hadoop-based data storage, management, and analytics solutions to cater to the customized requirements of business enterprises.
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