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Hadoop and Big Data AnalyticsMarket Headed for Growth and Global Expansion by 2026
Hadoop and Big Data Analytics
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Among end users, the banking, finance and insurance segment is expected to lead the hadoop and big data analytics market during the forecast period (2017 – 2025). The banking and finance sector has witnessed rapid growth, primarily due to increasing adoption of information technology solutions for improved banking services. The proliferation of online transactions, is increasing adoption towards technologies such as National Electronic Fund Transfer (NEFT), Real-time Gross Settlement Systems (RTGS), Electronic Clearing Service (ECS) as well as mobile transactions. Transactions through such technology, however, are hacking targets for cybercriminals. Furthermore, websites and mobile applications that accept online purchases and transactions, which store details regarding credit cards, debit cards, and bank account are also prominent hacking targets. According to the Reserve Bank of India (RBI), during 2015-2016, 16,468 cyber terrorism associated with ATM, debit card, credit card, and net banking frauds were reported. Whereas, 13,083 frauds were reported in 2014-2015 and 9,500 in 2013-14. This indicates the increasing number of cyber frauds over the years, which in turn is expected to augment the demand for Hadoop and Big Data Analytics solutions in the banking and finance industry.
North America holds a dominant position in the market and is expected to maintain its dominance over the forecast period. Dominance of this region is attributed to the rampant development of IT infrastructure and high presence of major IT companies such as Google, Microsoft, IBM, and Oracle in the region.
Asia Pacific is projected to observe rapid growth over the forecast period, owing to rapid industrialization and urbanization. For instance, Government of India has launched the smart city mission for city renovation and retrofitting program to develop 100 cities across the country to make them more resident friendly and highly maintainable. Such initiatives are expected to create opportunities for growth of the market over the forecast period.
Key market players operating in the hadoop and big data analytics market include Microsoft Corporation, Amazon Web Services (AWS), IBM Corporation, Teradata Corporation, Tableau Software, Inc., Cloudera, Inc., Pentaho Corporation, Marklogic Corporation, SAP SE, and Pivotal Software, Inc.
Hadoop and Big Data Analytics Market Taxonomy:
On the basis of solution, the hadoop and big data analytics market is segmented into:
• Packaged Software
• Management Software
• Application Software
• Performance Monitoring Software
On the basis of service, the hadoop and big data analytics market is segmented into:
• Consulting & Development Services
• Training & Support Services
• Admin & Managed Services
On the basis of end-user industry, the hadoop and big data analytics market is segmented into:
• Banking, Financial services and Insurance (BFSI)
• Government & Defense
• Healthcare & Life Sciences
• Retail & Consumer Goods
• Media & Entertainment
• Energy & Utility
• Transportation & SCM
• IT & Telecommunication
• Others (Academic & Research, Manufacturing
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