The global hadoop big data analytics market size was US$ 14.1 billion in 2021. The global hadoop big data analytics market is forecast to grow to US$ 33.7 billion by 2030 by growing at a compound annual growth rate (CAGR) of 12.8% during the forecast period from 2022 to 2030.
Factors Influencing the Market
Growing digitalization in enterprises combined with the increasing adoption of smart payment technologies will fuel the growth of the global hadoop big data analytics market. Furthermore, the rising traffic on social media applications for client engagement will escalate the growth of the global hadoop big data analytics market.
The global hadoop big data analytics market may benefit from growing strategic alliances and launches by the industry players. For instance, Dell Inc. unveiled its ready AI solutions on August 8, 2018, which included Hadoop machine learning and Nvidia deep learning. In addition, Cloudera and IBM inked a partnership agreement in June 2019 with the aim to bring AI solutions and advanced data to organizations on the Apache Hadoop ecosystem. Thus, such strategies are forecast to benefit the overall hadoop big data analytics market during the forecast period.
Telecom operators require efficient solutions to manage growing data from connected devices and call data records. In addition, the rising demand to mitigate fraudulent risks and enhance the business revenues will benefit the global hadoop big data analytics market during the forecast period.
Big Data analytics helps financial firms in analyzing the choices of consumers and retain them by identifying behavioral patterns. Thus, it will contribute to the growth of the global hadoop big data analytics market. On the contrary, a lack of awareness related to hadoop big data analytics may limit the growth of the overall market.
COVID-19 Impact Analysis
The COVID-19 pandemic has upsurged the demand for digital banking globally. In addition, social media platforms also witnessed an abrupt increase in traffic. As a result, it has been beneficial for the global hadoop big data analytics market. Furthermore, the growing adoption of technology and remote working culture further contributed to the growth of the global hadoop big data analytics market.
Regional Analysis
North America is forecast to dominate the hadoop big data analytics market, followed by Asia-Pacific. The adoption of Big Data analytics is steeply growing in the region. Furthermore, the presence of prominent vendors will help the region have a strong foothold in the hadoop big data analytics market.
Asia-Pacific is forecast to hold the second-largest share in the global hadoop big data analytics market. It is due to the contribution of emerging economies such as India, Singapore, Hong Kong, Taiwan, and others. In addition, the growing popularity of online payment platforms is forecast to benefit the overall hadoop big data analytics market in the coming years.
Competitors in the Market
Market Segmentation
The global hadoop big data analytics market segmentation focuses on Deployment, Organization, Component, Business Function, Vertical, and Region.
By Deployment Mode
By Organization Size
By Component
By Business Function
By Vertical
By Regional Outlook
