PORTLAND, USA: According to a new report by Allied Market Research titled "Hadoop Market (Hardware, Software, Services and HaaS, End Use Application, and Geography) - Industry Growth Trends and Forecasts Through 2020," the global hadoop market is expected to grow at a CAGR of 58.2 percent between 2013 and 2020.
The market revenue was estimated to be $2 billion in 2013 and is expected to grow to $50.2 billion by 2020. Increase in demand for big data analytics is the major driver for this market.
Huge expansion in raw structured and unstructured data and increasing demand for Big Data analytics act as the major driving factors for global Hadoop market as it provides cost effective and faster data processing of Big Data analytics over conventional data analysis tools such as Relational Database Management Systems (RDBMS).
Presently, distributed computing and Hadoop platform security issues are hindering the growth of this market. However, with continuous technological growth these issues can be addressed. Moreover, gradual lowering operating costs to provide data management solutions will add to the growth of this market.
Hadoop market, on the basis of type, is segmented into software, hardware and services market. Currently, services market is dominating with a market share of about 50 percent of the global Hadoop market due to growing necessity of data analysis in various organizations. Hadoop services market is further segmented into consulting, training and outsourcing, integration and deployment, and middleware & support services.
Consulting, and training and outsourcing segments accounted for maximum revenue in 2013, whereas, integration and deployment services is the fastest growing services market during the forecast period due to increasing investment in big data analytics and necessity of real time operations.
Hadoop software market is projected to have the highest growth rate in the overall global Hadoop market. The increasing venture capital investments lead to addition in number of Hadoop distributors, which is the major reason for growth of Hadoop software market. Hadoop software market is further segmented as application software, management software, packaged software and performance monitoring software markets.
In 2013, application software had generated the highest revenue of the overall global Hadoop software market. The main reason for this is the use of application software by developers to build applications for data analysis. Hadoop packaged software market is expect to grow at a CAGR of 62.9 percent during the forecast period. One of the reasons being, leading organizations such as MapR Technologies, Hortonworks and Cloudera majorly deal in Hadoop packaged software solutions.
Also, Hadoop packaged software provides easier deployment of Hadoop clusters. Thus, Hadoop projects such as MapReduce, Sqoop, Hive and others can be smoothly integrated.
Hadoop Hardware Market is segmented as servers, storage, and network equipment markets. In 2013, storage market was leading segment in Hadoop hardware market in terms of revenue, primarily due to social media websites like Facebook, Twitter, and LinkedIn, which add up terabytes of data each day. Hadoop servers market is expected to have a CAGR of 60.1 percent during 2013-2020, taking into consideration the volume and velocity at which raw data is expanding.