Hadoop Market Could Grow USD 20.9 Billion Globally by 2018: : Transparency Market Research
Albany, New York (PRWEB) September 16, 2014
Hadoop Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2012- 2018, a report from US based market intelligence firm Transparency Market Research sheds some invaluable insights in the current state of the global Hadoop market and forecasts about the future growth opportunities, probable strong markets and factors hindering the growth of this market during the defined forecast period, i.e. between 2012 and 2018.
The report states that the global Hadoop market, which had an estimated value worth USD 1.5 billion in 2012, could observe immense growth during the forecast period, year-on-year at a CAGR of 54.7%, and reach market value worth USD 20.9 billion by 2018. In 2012, North America contributed the biggest share of revenues to this market due to the enormous amount of data being generated in the region and an ever increasing need for better data storage and processing capabilities.
You can browse the Global Hadoop Market report with the complete TOC at: http://www.transparencymarketresearch.com/hadoop-market.html
The inception of the Hadoop platform resulted from the need to mange problems that came with a lot of data – perhaps a mixture of structured and unstructured data – and that did not fit properly in traditional data storage and management entities such as tables. It was meant for use in situations where the analytics were deep and computationally extremely complicated and extensive. This was exactly what Google was doing when it was examining behavior of its users and indexing web pages, so as to improve its own performance algorithms, during the times of its inception.
As no other existing technology or platform allowed Google such niche, it built the underlying technology, made it open source and then over the time, many other companies contributed for its further enhancements. The report primarily divides this market into segments such as hardware, software and related services. According to the report, the segment of services accounted for nearly half of the total market shares and was followed by the hardware sector in the year 2012. The report states that this same sector would lead the market in the coming future, i.e. throughout the period of forecast.
For further inquiries, click here: http://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=719
Complexities associated with handling the Hadoop architecture are the primary reason behind the growth in the services sector. However, the software segment is estimated to observe the fastest growth during the forecast period, which could allow it to surpass the market position of the hardware segment, adds the report.
Application wise, government sector leads this market in terms of demand and revenues, followed by other strong market sectors such as BFSI, healthcare and life sciences and retail. The sector of telecommunications is still in its early stages of adopting Hadoop architecture and is estimated to adopt it on a larger scale by the mid of the forecast, i.e. by 2014. As a result, telecommunications sector will observe the fastest growth during the forecast period.
Geographically, Hadoop sees huge growth opportunities in the European countries owing to its increasing adoption across this region’s government, BFSI and retail segments, to name a few.
90 Sate Street, Suite 700
Albany, NY 12207
USA/Canada Toll Free: 866-552-3453