Hadoop Market Size Will Achieve USD 851.4 Billion by 2030 growing at 37.3% CAGR – Exclusive Report by Acumen Research and Consulting
Acumen Research and Consulting recently published report titled “Hadoop Market and Region Forecast, 2022 – 2030”
TOKYO, Dec. 14, 2022 (GLOBE NEWSWIRE) — The Global Hadoop Market Size accounted for USD 49.5 Billion in 2021 and is projected to occupy a market size of USD 851.4 Billion by 2030 growing at a CAGR of 34.3% from 2022 to 2030.
Hadoop was a significant advancement in the big data space. Indeed, it is credited with laying the groundwork for the modern cloud data lake. An exponential rise in data through the huge number of online platforms is the primary factor that is boosting the global Hadoop market growth in the coming years. Predictions from global data experts show that humans will produce and consume about 94 zettabytes of data by the end of 2022. The surging demand for big data analytics is a key Hadoop market trend that is creating a buzz in the industry. Tech titans such as IBM, Intel Corporation, and other market leaders are developing their versions of Hadoop, increasing its market popularity.
Hadoop Market Statistics
- Global Hadoop market revenue valued USD 49.5 Billion in 2021, with a 37.3% CAGR from 2022 to 2030
- According to recent statistics, 200+ zettabytes of data will be in cloud storage around the globe by 2025
- 97.2% of major worldwide organizations plan to invest in big data and AI
- North America Hadoop market share occupied over 35% in 2021
- Asia-Pacific Hadoop market growth is estimated to achieve a significant CAGR of around 40% from 2022 to 2030
- By component, the services sub-segment captured revenue of USD 18.8 billion in 2021
- Based on end-user, the IT & telecom sub-segment generated US$ 12.9 billion in revenue in 2021
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Hadoop Market Coverage:
|Hadoop Market Size 2021||USD 49.5 Billion|
|Hadoop Market Forecast 2030||USD 851.4 Billion|
|Hadoop Market CAGR During 2022 – 2030||37.3%|
|Hadoop Market Analysis Period||2018 – 2030|
|Hadoop Market Base Year||2021|
|Hadoop Market Forecast Data||2022 – 2030|
|Segments Covered||By Component, By Deployment Model, By Industry Vertical, And By Geography|
|Hadoop Market Regional Scope||North America, Europe, Asia Pacific, Latin America, and Middle East & Africa|
|Key Companies Profiled||Microsoft Corporation, Amazon Web Services, Inc., Cloudera, Inc., Cisco Systems, Inc., Datameer, Inc., Fair Isaac Corporation, MapR Technologies, MarkLogic, Hitachi Vantara LLC (Hitachi Ltd.), and Teradata Corporation.|
|Report Coverage||Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis|
Hadoop Market Dynamics
Social Media Is a Key Driving Factor in the Hadoop Industry
The rapidly growing social media sector is creating million of bytes of data in the world each day. According to a recent survey, 2.4 million messages are sent daily on WhatsApp, while 150,000 messages and 147,000 images are forwarded and received daily on Facebook. In addition, according to the same study, Instagram users post about 347,222 stories per day, while 1,388,889 messages and voice calls are shared every day. Furthermore, every day, Netflix users watch 404,444 hours of video content.
Presence of a large volume of unstructured data
The growing number of internet users and the digitization of business are significantly increasing the volume of unstructured data generated by devices such as smartphones, computers, RFID readers, and traffic cameras. This information could be in the form of videos, images, text, documents, or any other format. Hadoop is used to analyze this data (in million bytes) because it can process a large amount of data and produce structured output in a short period of time.
High Security and Privacy Issues Associated with Hadoop
Cloud computing has grown rapidly in recent years due to its ability to provide customers with flexible, reliable, on-demand services at low costs. Even though cloud-based solutions are regarded as a secure platform for processing transactions, sending/receiving emails, and performing other confidential tasks, there is and always will be a risk of data theft or system hacking. However, industry leaders are investigating and constantly improving their security and privacy issues with the help of AI, machine learning, generative AI, blockchain, and other technologies.
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Hadoop Market Segmentation
The global market has been split into components, deployment model, industry vertical, and region.
The component segment is divided into three parts: hardware, software, and services. Our Hadoop industry analysis predicts that the services sub-segment will represent the majority of market revenue in 2021. In terms of expansion, the software will see rapid growth in the coming years.
Based on the deployment model segment, the market is divided into on-premise, cloud-based, and hybrid. Among the deployment model, the on-premise sub-segment dominated the market with utmost shares and is expected to do so in the coming years. Meanwhile, cloud-based and hybrid segments will record a substantial growth rate during the forecast timeframe from 2022 to 2030.
Furthermore, the industry vertical segment is split into manufacturing, media & entertainment, BFSI, IT & telecommunication, healthcare, trade & transportation, retail and consumer goods, government and defense, energy and utility, and others. Based on our Hadoop market forecast, IT & telecommunication will lead the market in terms of revenue, whereas BFSI will lead in terms of growth from 2022 to 2030.
Hadoop Market Regional Outlook
North America, Latin America, Europe, Asia-Pacific, and the Middle East & Africa account for the majority of the worldwide Hadoop industry. In 2021, the North America region gathered a considerable amount of shares and is predicted to gather maximum shares in the forthcoming years. This is credited to the mounting IT industry requirements and the increasing integration of hybrid platform technology across a range of industries. On the other hand, the Asia-Pacific region is anticipated to witness the fastest growth rate during the forecast timeframe from 2022 to 2030. Increasing internet penetration, growing smartphone users, and shifting focus towards cloud-based solutions are some of the leading aspects that are favoring the Asia-Pacific Hadoop market growth.
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Hadoop Market Players
Some prominent Hadoop companies covered in the industry include Microsoft Corporation, Amazon Web Services, Inc., Cloudera, Inc., Cisco Systems, Inc., Datameer, Inc., Fair Isaac Corporation, MapR Technologies, MarkLogic, Hitachi Vantara LLC (Hitachi Ltd.), and Teradata Corporation.
Questions Answered By This Report
- What was the market size of Hadoop Market in 2021?
- What will be the CAGR of Hadoop Market during the forecast period from 2022 to 2030?
- Who are the major players in Global Hadoop Market?
- Which region held the largest share Hadoop Market in 2021?
- What are the key market drivers Hadoop Market?
- Who is the largest end user Hadoop Market?
- What will be the Hadoop Market value in 2030?
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