“Surging demand for enhancing customer experience and carrying out real-time patient health and asset monitoring, remotely, is expected to act as a growth opportunity for the Hadoop big data analytics market.”
The global 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 objective of the report is to define, describe, and forecast the Hadoop big data analytics market size based on component, organization size, deployment mode, business function, vertical, and region.
The COVID-19 outbreak has affected all markets, as well as the behaviors of customers. It has a substantial impact on economies and societies. With offices, educational institutions, and manufacturing facilities being shut down for an indefinite period, major sports and events being postponed, and work-from-home and social distancing policies being implemented globally, businesses are increasingly making efforts to deploy technologies that assist them through this difficult time. Analytics professionals, BI professionals, and advanced analytics experts have been called to help executives drive business decisions to respond to new challenges posed by the COVID-19 spread. Hadoop big data analytics companies are witnessing a slowdown in their growth, owing to the lockdowns imposed worldwide.
Healthcare and life sciences and BFSI verticals have been least impacted by the COVID-19 and are continuing the adoption of Hadoop big data analytics solutions. The competition among key Hadoop big data analytics companies is expected to intensify as most upcoming analytics projects have been put on hold owing to the pandemic. Businesses have already started making efforts to return to the normal and are facing multiple challenges at customer and operational levels.New practices, such as work-from-home and social distancing, have led to the requirement of remote health monitoring of patients and assets and smart payment technologies, as well as the development of digital infrastructures for large-scale technology deployments.
The services segment to grow at a higher CAGR during the forecast period
The Hadoop big data analytics market is segmented on the basis of components, such as solutions and services. The services segment is expected to grow at a rapid pace during the forecast period. The demand for professional services, such as deployment and integration, support and maintenance, and consulting, is rising with tailor-made features for Hadoop big data analytics solutions during the COVID-19 outbreak.
The operations segment to grow at the highest CAGR 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 operations segment is expected to witness rapid growth in the adoption of Hadoop big data analytics solutions, as businesses are leveraging these solutions to enhance internal processes and optimize operations.
The healthcare and life sciencessegment to grow at the highest CAGR during the forecast period
The Hadoop big data analytics market by industry vertical has been segmented into 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, and others (energy and utilities, education and research, and real estate). Healthcare and life sciences vertical is expected to register the highest CAGR during the forecast period as healthcare and life science organizations have been adopting pandemic analytics to help researchers interpret the pandemic during the COVID-19 crisis.Pandemic analytics integrated with AI technology helps medical researchers in drug discovery in minimum time.
Among regions, Asia Pacific (APAC) to grow at the highest CAGR during the forecast period
APAC is expected to grow at the highest CAGR during the forecast period. The increasing investments by the tech companies in major APAC countries, such as China, and Japan, increasing government regulations and initiatives are expected to drive the growth of the market in APAC.
Breakdown of primaries
In-depth interviews were conducted with Chief Executive Officers (CEOs), innovation and technology directors, system integrators, and executives from various key organizations operating in the Hadoop big data analytics market.
- By Company: Tier I: 34%, Tier II: 43%, and Tier III: 23%
- By Designation: C-Level Executives: 50%, Directors: 30%, and Others: 20%
- By Region: North America: 25%, APAC: 30%, Europe: 30%, MEA: 10%, and Latin America: 5%
The report includes the study of key players offering Hadoop big data analyticssolutions and services. It profiles major vendors in the global Hadoop big data analytics market. The major vendors in the global Hadoop big data analytics market are 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).
The market study covers the Hadoop big data analytics market across segments. It aims at estimating the market size and the growth potential of this market across different segments, such as components, deployment modes, organization size, business function, industry vertical, and regions. It includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.
Key Benefits of Buying the Report
- The report would provide the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall Hadoop big data analytics market and its subsegments.
- It would help stakeholders understand the competitive landscape and gain more insights better to position their business and plan suitable go-to-market strategies.
- It also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.