Hadoop is one of the most popular Java-based frameworks today. It is an open source programming framework and is set up by Apache Software Foundation. Hadoop can give a user the ability to crunch through large quantities of data within an organized and distributed computer-based system. Hadoop is one of the prominent tools in the currently burgeoning industry of big data. Hadoop has a major role to play in the storage and processing of files in big data. This is a highly important task in the field of information technology, where the growing user base of consumer electronics is creating a massive influx of data into companies that need to store it in a safe and organized manner. The data that streams into IT company servers from users is highly unorganized and unstructured. But with the right type of storage method, this data can be rendered usable for research and other purposes.
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The global Hadoop market is exhibiting an exceptionally optimistic CAGR of 28.40% between 2015 and 2023. This market was recorded at US$4.1 bn in 2014. By the end of 2023, the global Hadoop market will be valued at US$37.8 bn. Teradata Corporation, Zettaset, Inc., Pentaho, Karmasphere, Inc., Cisco Systems, Inc., IBM Corporation, EMC Corporation, MapR Technologies, Inc., Hortonworks, Inc., and Cloudera, Inc. are some of the top names in this market. They are expected to be at the forefront of innovation and utility in the global Hadoop market.
Hadoop in High Demand for Superior Data Management
One of the prime reasons for the current rate of development of the global Hadoop market is the increasing demand by top IT companies for speedier and more effective access to the data they have stored in their servers. Hadoop is an essential part of big data and therefore the high need for big data analytics is directly creating a greater demand from the global Hadoop market. Furthermore, this market is also benefitting from the increasing rate of investments made by the IT industrial players. Even Intel and IBM are setting goals to create their own versions of Hadoop. This shows the high level of interest shown by top IT companies in the global Hadoop market, consequently boosting its demand in other industries as well.
North America Dominates Global Hadoop Market
From a geographical perspective, the global Hadoop market was led by North America in 2014, when it held over 50.0% of the market. It is expected to retain its dominance over the years till 2023, owing to the high focus on the analysis and storage of unstructured data in the region. This region is also experiencing a consistent stream of investments for the development of Hadoop technologies. The global Hadoop market is also showing a high penetration rate in several end-use industries, which, combined with the heavy investments, is assuring the positive growth rate of the market for the foreseeable future. Europe was the second largest region in the global Hadoop market for 2014, owing to a rapid increase in the usage of Hadoop in Germany and France.
Meanwhile, Asia Pacific is showing itself to be the place where the future of the global Hadoop market could be. It is showing the fastest growth rate in the market in terms of regions, and could match the market size of North America by 2023.