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.
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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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.
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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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