Market Research Report
Global Hadoop Big Data Analytics Market - Growth, Trend and Forecasts (2018 - 2023)
|Published by||Mordor Intelligence LLP||Product code||669974|
|Published||Content info||102 Pages
Delivery time: 2-3 business days
|Global Hadoop Big Data Analytics Market - Growth, Trend and Forecasts (2018 - 2023)|
|Published: July 7, 2018||Content info: 102 Pages||
The hadoop big data analytics market is expected to grow at a CAGR of over 40%, during the forecast period (2018 - 2023). The scope of the report is limited to solutions offered by various market players from various end-user sectors including retail, IT & telecommunication, healthcare, banking financial services & insurance, government & defense, and manufacturing. The regions considered under the scope of the report include North America, Asia-Pacific, Europe, Latin America, and Middle East & Africa.
With the increase in the volume, velocity, and variety of data, companies are looking for means to analyze and process it as quickly and economically as possible. Considering the current state of big data, a tremendous amount of information is being generated every day in the form of heterogeneous databases. To cater this, the demand for cost-effective Hadoop big data solutions is increasing among the enterprises worldwide, as these solutions will help organizations to manage and analyze such huge datasets for understanding the trend and help in the decision making at the corporate level in real-time. With the advancement of this solution, data can be stored, evaluated, and extracted to meet the desired objective. It aids in improving the models of business and maximize the revenue of the vendors.
The amount of data generated by telecommunication industry has high velocity and volume. In a hypercompetitive industry, telecommunication companies have to differentiate their offerings and target customers effectively, with the information collected about customer behavior and preferences. The application of Hadoop big data analytics in telecom sector creates opportunities for telecommunication companies by using the Hadoop framework in big data ecosystem by combining various real-time insights with the habits and preferences of the customer to achieve unparalleled marketing power.
The revenue model of Telecom sector has seen a marked shift from the traditional voice and messaging driven model to a data driven model. This churn in the industry has given rise to an enormous amount of data which has never been seen before. The integration of Hadoop in the telecom sector is in need for robust, scalable and accurate data analysis software, which is capable of tracking and analyzing such large volume communication in real time.
North America accounted for the largest share of the Hadoop big data analytics market. This growth can be attributed to the increasing deployment of Hadoop big data solutions by major IT enterprises such as Google, Microsoft, IBM, and Oracle in the region to enhance the efficiency and streamline their business operations. Companies of the region are spending heavily on R&D initiatives for developing integrated solutions that provide superior advantages by shifting their attention to Big Data as a useful means to derive insights from the huge amount of data generated from various sources. The Hadoop technologies in such databases frameworks are at the core of the solutions heralding a paradigm shift.
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