Global Hadoop Market Expected to Reach $84.6 Billion by 2021
DUBLIN, Ireland, Feb. 18 -- Research and Markets has announced the addition of the "World Hadoop Market - Opportunities and Forecasts, 2014 - 2021" report to their offering.
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.
The world hadoop market has witnessed dynamic growth in the recent years, as Hadoop is cost effective and more efficient as compared to traditional data analysis tools such as RDBMS. In 2015, North America accounted for the largest share of the overall market revenue. However, the European market is anticipated to witness the fastest growth of Hadoop based data management and analytics technology during the forecast period.
Factors such as aggrandized generation of structured and unstructured data and efficient and affordable data processing services offered by Hadoop technology are the major drivers of the market. Increasing adoption of Big Data analytics among business enterprises to enable sound decision making and gain competitive edge are the other factors supplementing the market growth.
Distributed computing and security issues in Hadoop Platform are the major restraints for the growth of the market. I.T., government sector, telecommunication, banking and retail industry are the major users of Hadoop based big data technology. However, sectors such as trade & transportation, media & retail would witness the relatively fast adoption over the next five years.
Companies Mentioned:
- Amazon Web Services
- Cisco Systems
- Cloudera
- Datameer
- Fair Isaac Corporation
- Hitachi Data Systems
- Hortonworks Inc.
- MapR Technologies
- MarkLogic Corporation
- Teradata Corporation
For more information visit http://www.researchandmarkets.com/research/22nwd6/world_hadoop
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Source: Research and Markets
