New York, April 05, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Hadoop Global Market Report 2023" - https://www.reportlinker.com/p06320090/?utm_source=GNW
, Fair Isaac Corporation, ScienceSoft.
The global hadoop market grew from $74.6 billion in 2022 to $104.95 billion in 2023 at a compound annual growth rate (CAGR) of 40.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The hadoop market is expected to grow to $404.43 billion in 2027 at a CAGR of 40.1%.
The hadoop market includes revenues earned by entities by providing system for enabling the analysis of large datasets by multiple computers in a cluster.The market value includes the value of related goods sold by the service provider or included within the service offering.
Only goods and services traded between entities or sold to end consumers are included.
Hadoop refers to an open-source system for storing and processing massive datasets ranging from gigabytes to petabytes.The platform distributes hadoop big data and analytics operations among computing cluster nodes, breaking them down into smaller workloads that can be run in parallel data by clustering several computers.
The code in the Hadoop framework is primarily written in Java, however, some native code is written in C.
North America was the largest region in the hadoop market in 2022.North America is expected to be the fastest-growing region in the forecast period.
The regions covered in the hadoop market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of products in Hadoop include software, application, hardware, and services.The hadoop refers to a framework that uses basic programming principles to enable the distributed processing of massive data volumes across cluster machines.
It is designed to scale from a single server to millions of nodes, each with computing and storage capabilities. They are deployed on-premise, cloud, and hybrid models in industries ranging from BFSI, manufacturing, retail, telecommunication, healthcare & life sciences, media & entertainment, natural resources, trade & transportation, government, IT & ITES, and others.
The increasing demand for data analytics is expected to propel the growth of the hadoop market.With the rapid development of big data in recent years, companies have started incorporating advanced technologies into their competitive strategies.
These new technologies are focused on analyzing vast amounts of data to uncover hidden patterns that can help businesses make better decisions.These data capabilities are expected to provide cost-effective solutions and analytical strength to businesses.
For instance, ManageEngine, Zoho Corporation’s enterprise IT management division, published its 2021 Digital Readiness Survey report in July 2021, which was completed by 1,210 qualified executives and technology professionals from India, the United States, Canada, Singapore, the United Kingdom, Australia, and New Zealand found that 64% of them have reported using business data analytics to improve decision-making. Therefore the increase in adoption of data analytics is expected to boost demand for hadoop during the forecast period.
Constant technological development in cloud-based services is a key trend gaining popularity in the hadoop market.Major companies operating in the hadoop market are focused on providing technologically-advanced frameworks and platforms to strengthen their market position.
These companies are implementing next-generation technologies into their framework and platform, such as virtualization, grid computing, service-oriented architecture, artificial intelligence, mining, cloud computing, automated cloud orchestration, big data, data mining, and others to offer flexibility to businesses in using hadoop according to their needs.For instance, in July 2020, a cloud computing platform Microsoft Azure by Microsoft Corporation, a US-based technology corporation announced the development of its own Hadoop under its HDInsight brand.
The new hadoop will feature advanced capabilities and support more frameworks enabling customers to achieve new things. It is expected to become an operating system for big data.
In October 2021, the a US-based investment firms Clayton, Dubilier & Rice(CD&R), and KKR acquired Cloudera Inc for $5.3 billion. The acquisition accelerates the business of growth of Clouderaby way of product innovation, and cloud transformation with the support and expertise of CD&R and KKR. Cloudera Inc is a US-based software company offering enterprise data management systems significantly using Apache Hadoop.
The countries covered in the hadoop market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, and USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The hadoop market research report is one of a series of new reports that provides hadoop market statistics, including hadoop industry global market size, regional shares, competitors with an hadoop market share, detailed hadoop market segments, market trends and opportunities, and any further data you may need to thrive in the hadoop industry. This hadoop market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
Read the full report: https://www.reportlinker.com/p06320090/?utm_source=GNW
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