Explore real-world applications of big data analytics powered by Hadoop. Understand how businesses leverage Hadoop for insightful analytics.

LUTON, BEDFORDSHIRE, UNITED KINGDOM, November 21, 2023 /EINPresswire.com/ -- The global Hadoop Big Data Analytics Market is expected to grow at 12.80% CAGR from 2020 to 2029. It is expected to reach above USD 43.17 Billion by 2029 from USD 14.60 Billion in 2020. The increasing demand for the digital transformation of organizations is the crucial aspect of the rise in the market revenue of Hadoop Big Data Analytics as well as the growing investments in analytics will foster market growth. The Global Hadoop Big Data Analytics Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Hadoop is an open-source framework that allows big data storage and analytics, it also uses simple programming models around distributed computer groups. Big data is a huge volume of data that can be structured and unstructured, it cannot be stored and processed by conventional systems. Furthermore, it helps the organizations to comprehend the trend and aid in real-time corporate-level decision-making.

DRIVING FACTORS-

The growing acceptance of information technology solutions for better banking services has led to a craze of online transactions. Growing acceptance of technologies such as national electronic fund transfer (NEFT), real-time gross settlement systems (RTGS), electronic clearing services (ECS), and mobile transactions are rapidly growing. For instance, the Reserve Bank of India says that during 2015-2016, 16,468 cyber terrorism-related ATM, debit card, credit card, and net banking frauds were reported. This shows the growing number of cyber frauds over the years, which is driving the market growth of Hadoop and big data analytics solutions in the banking and finance industry.

Market Scope

The Hadoop Big Data Analytics Market is segmented on the basis of component, application, vertical, deployment model, and enterprise size. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

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Hadoop Big Data Analytics Market Players

Alteryx Inc., Amazon Web Services Inc., Dell Technologies Inc., Fair Isaac Corporation, Google LLC, Hewlett Packard Enterprise Company, Intel Corporation, IBM Corporation, Microsoft Corporation, SAS Institute Inc.

Key Market Segments:

Hadoop Big Data Analytics Market By Application, 2020-2029, (USD Billion)
• Customer Analytics
• Internet Of Things (IOT)
• Merchandising & Supply Chain Analytics
• Risk And Fraud Analytics

Hadoop Big Data Analytics Market By End User, 2020-2029, (USD Billion)
• Energy & Utility
• BSFI
• It & Telecommunication
• Media & Entertainment

Hadoop Big Data Analytics Market by Component, 2020-2029, (USD Billion)
• Solutions
• Services

Hadoop Big Data Analytics Market by Region, 2020-2029, (USD Billion)
• North America
• Asia Pacific
• Europe
• South America
• Middle East and Africa

Industry Developments:

October 2019 – Alteryx, Inc. announced that it had acquired Feature Labs, a data science software company launched out of Massachusetts Institute of Technology (MIT) that automates feature engineering for machine learning and artificial intelligence (AI) applications. The acquisition of Feature Labs will further enable Alteryx to help organizations empower every data worker to fill the data science and machine learning talent gap.

Aug 2022 – Analytics leader SAS has joined forces with SingleStore to help organizations remove barriers to data access, maximize performance and scalability, and uncover key data-driven insights. SAS^® Viya^® with SingleStore enables the use of SAS analytics and AI technology on data stored in SingleStore’s cloud-native real-time database. The integration provides flexible, open access to curated data to help accelerate value for cloud, hybrid, and on-premises deployments.

Regional Insights:

The Hadoop Big Data Analytics Market is analyzed and market size insights and trends are provided by component, application, vertical, deployment model, and enterprise size as referenced above.

The countries covered in the Hadoop Big Data Analytics Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the Hadoop Big Data Analytics Market because of the rise in the volume of data. The advancement in AI and big data technologies will further increase the development of the Hadoop Big Data Analytics Market in the region during the forecast period

Asia Pacific is expected to rise in the Hadoop Big Data Analytics Market due to the effort to improve the organization of data to enable data-based business results. Furthermore, the rise in industrialization and urbanization is further expected to propel the growth of the Hadoop Big Data Analytics Market in the region in the coming years.

The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

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Objectives of the Report

• To carefully analyze and forecast the size of the Hadoop Big Data Analytics Market by value and volume.
• To showcase the development of the Hadoop Big Data Analytics Market in different parts of the world.
• To analyze and study micro-markets in terms of their contributions to the Hadoop Big Data Analytics Market, their prospects, and individual growth trends.
• To provide a meticulous assessment of crucial business strategies used by leading companies operating in the Hadoop Big Data Analytics Market, which include research and development, collaborations, agreements, partnerships, acquisitions, mergers, new developments, and product launches.

Conclusion

In conclusion, Hadoop Big Data Analytics is a game-changer for organizations seeking to leverage the power of big data. It offers a multitude of benefits, though challenges in implementation must be addressed. With the right strategy and tools, businesses can unlock the full potential of big data.

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