According to a new report by Allied Market Research, the global market for Hadoop along with related hardware, software and services is expected to grow at a compound annual growth rate of 58.2 percent between 2013 and 2020. In 2013, the global Hadoop market accounted for approximately $2 billion in revenues and is estimated to increase by $48.2 billion over the next 7 years.
According to the report, “huge expansion in raw structured and unstructured data and increasing demand for Big Data analytics act as the major driving factors for global Hadoop market as it provides cost effective and faster data processing of Big Data analytics over conventional data analysis tools such as Relational Database Management Systems (RDBMS).”
The report divided the Hadoop market into three segments: software, hardware and services. Unsurprisingly, Hadoop services – which include consulting, training, outsourcing, middleware and support – account for 50 percent of the global market. On the other hand, the software is expected to have the highest growth rate in the overall global Hadoop market. Among this, packaged software is expected to grow at CAGR of 62.9% during the forecasted period, and one of the main reasons cited for this is due to the fact that organizations like MapR Technologies, Cloudera, and Hortonworks predominately deal in Hadoop packaged software solutions.
The survey also looked into the way Hadoop will grow in different geographical regions too. America is set to remain the leading market for Hadoop software, hardware and services in terms of revenue, while Asia-Pacific is forecasted to emerge over the next seven years, “with a compound annual growth for the region pegged at 52.9 percent.” The growth in Asia-Pacific is expected to come from the emerging Chinese data analytics market.
Complete our SAP x Data Natives CDO Club survey now, and help us to help you
Read more here