In the consolidated global Hadoop market, the top three vendors, Cloudera, Inc., Hortonworks, Inc., and MapR Technologies, Inc., held a collective share of over 50% in 2014, with small- and medium-sized companies accounting for a nearly 41% share in the global market in the same year. With demand for Hadoop solutions rising at a rapid pace from companies overwhelmed with the persistently mounting volumes of digital data, an increased number of companies will venture in the market in the next few years, states TMR in a recent report.
The largest contributor to the market in 2014 was Cloudera, Inc., which held over 20% of the market. Technology giants such as IBM Corporation and EMC Corporation presently account for relatively smaller share in the market but are steadily contributing towards the further development of this market with innovative Hadoop solutions. IBM Corporation has adopted the course of mergers and acquisitions to bolster its position in the global Hadoop market and could report a greater share in the pie in the coming years, notes TMR.
Rising Popularity of Big Data Analytics to Present Long-term Growth Opportunities
Better cost effectiveness and faster processing of voluminous quantities of data compared to conventional data processing solutions such as RDBMS are two of the most encouraging factors boosting the global adoption of Hadoop. Other major drivers of the market include the exponentially rising unstructured data volumes, the increased demand for big data analytics, and Hadoop’s potential in bridging the operational gap between managers and database management.
“Cost effectiveness and high speed of data processing are expected to have high impact on the global Hadoop market’s growth over the entire period of 2015 through 2023. However, the impact of the increased demand for big data analytics will be nominal in the short term but strengthen as the time passes,” quoted a TMR analyst.
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Emerging Markets to Deliver Most Profitable Returns
North America is presently the largest regional market for Hadoop, accounting for a share of over 53% in the global hadoop market in 2014. The demand for Hadoop in North America is expected to expand at a steady rate from 2015 to 2023 as well, and the region will continue to be the dominant regional market for Hadoop over the period.
However, the Hadoop market in Asia Pacific is expected to expand at the fastest pace of 30.2 % CAGR over the said period. The Asia Pacific market will present lucrative growth opportunities owing to the rising penetration of the Internet in the region, technologically and digitally improving industrial infrastructures, and the exponentially rising numbers of mobile device users. The global Hadoop market is also expected to see major traction in Europe in the next few years owing to the rising big data management capabilities across sectors such as government, retail, and BFSI in the region.
Owing to the vast growth potential, leading Hadoop vendors are aligning their expansion strategies towards these regions. Cloudera, Inc. has recently opened a new branch in Londdon. MapR has also ventured in the European market via its new subsidiary in Paris.
These factors will allow the market to tread along a momentous growth path in the next few years. TMR analysts suggest that the market will expand at an exponential 26.3% CAGR over the period between 2015 and 2023. With such excellent growth prospects, the market, which had a valuation of US$308.1 mn in 2014, is expected to rise to US$2,429.0 mn by 2023.
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