Hadoop Market is Driven by Healthcare
Hadoop has two main subprojects, namely – MapReduce and Hadoop Distributed File System (HDFS). MapReduce is a framework that assigns work to the clusters in a node, whereas HDFS is a file system used for data storage in a Hadoop cluster.
Since its inception in 2009, the global market for Hadoop is growing at a healthy rate as it has emerged as one of the best tools to manage big data.
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Growing unstructured as well as structured data volume across different end use sectors such as retail, BFSI, healthcare, media and entertainment, and telecommunication among others is augmenting the demand for Hadoop solutions.
As a result of technological advancement, huge volumes of data are being generated by different electronic devices used in various end use segments such as Banking, Financial services and Insurance (BFSI), retail, telecommunication, healthcare, and government and public utilities among others.
The data generated in the above mentioned end use segments include office productivity documents, e-mail, and web content along with social media data. Most of this data generated is unstructured and thus organizations are looking for a tool that could handle this unstructured data appropriately.
Increased corporate spending to manage unstructured data has boosted the adaptation of Hadoop. Furthermore, Hadoop is cost effective and has low maintenance charges compared to other data frameworks such as relational database management system (RDBMS).
In addition, Hadoop has the ability to run on commodity hardware and the time taken to process the data is less. Asia Pacific has the largest number of internet users followed by Europe.
In the near future, cell phones with high end internet connectivity are likely to gain more popularity and a healthy percentage of cell phone users are expected to use it for both commercial and personal purposes.
Moreover, billions of people conduct different types of online transactions daily contributing to the generation of huge volume of data.
In terms of types, the market has been categorized into software, hardware and services. The software segment has been further sub divided into application software and performance monitoring software.
The hardware segment has been sub divided into storage and server. The storage segment concentrates three types of storage, 1 to 1000 terabytes, 1 petabyte to 10 petabytes and above 10 petabytes.
The services segment has been further divided into consulting, training and outsourcing, integration and deployment and middleware and support services.
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In addition, the Hadoop market has also been categorized by end use industries into banking, financial services and insurance (BFSI), retail, manufacturing, telecommunication, healthcare and life sciences, media entertainment, natural resources, trade and transport, government and IT and ITES among others.
Furthermore, the Hadoop Market has been segmented geographically in to North America, Europe, Asia Pacific and rest of the world sub regions. The scope of the report offers an insight into Hadoop market in these regions based on revenue (USD million).
TMR is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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