Hadoop-as-a-Service Market Expansion to $ 74,097.00 Million Market Value by 2026

Hadoop-as-a-Service Market

According to the report, the global Hadoop-as-a-service market garnered $5.27 billion in 2018, and is projected to reach $74.09 billion by 2026, growing at a CAGR of 39.2% from 2019 to 2026.

Asia-Pacific region is expected to witness highest growth rate during the forecast period of the Hadoop-as-a-service market, which is attributed to the wide adoption of Hadoop-based applications for real-time analytics and web-based business processes, the growth of the market. Moreover, the region is expected to present lucrative growth opportunities, due to increase in the penetration of internet, availability of technologically &digitally improving industrial infrastructures, and exponential rise innumberof mobile users.

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Factors such as increase in penetration of Internet of Things (IoT) across the globe; the rise in demand for cost-effective solutions for the management of Big Data; and wide acceptance of HaaS across different industry verticals such as IT, banking, manufacturing, and telecommunication significantly contribute toward the growth of the Hadoop-as-a-service market. In addition, decline in prices of cloud-based services and surge in demand of HaaS from small & medium enterprises (SMEs) are expected to fuel the market growth.

In addition, rise in dependency on situational awareness systems (SASs) for cybersecurity is expected to drive the growth of the market. However, low security for highly confidential data and lack of awareness about the benefits of this technology are expected to impact negatively on the Hadoop-as-a-service market growth. On the contrary, ongoing partnerships and funding taking place in the Hadoop market and rising popularity of e-commerce are expected to provide lucrative opportunities for market growth in the coming years.

Depending on deployment type, the run-it-yourself (RIY)segment dominated the overall Hadoop-as-a-service market share in2018, and is expected to continue this trend during the forecast period. This is attributed to its key benefit that the user does not have to worry about the installation, configuration, and regular updating part of the software, as the model provides full-service support options.

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However, the pure play (PP) segment is expected to witness highest growth in the near future, because the service does not require hand-operated intervention to configure when the data size extends or contracts. In addition, the service provides users with a nontechnical interface to use HDaaS without understanding the underlying software.

The IT & telecommunication segment dominated the Hadoop-as-a-service market size 2018 and is expected to continue this trend during the forecast period. A number of leading telecommunication organizations have opted to deploy Big Data systems to enable large-scale data analysis and processing. This has led them to handle customer issues and to achieve customer satisfaction, which, in turn, drives the adoption of Hadoop-as-a-service.

However, the healthcare & life sciences segment is expected to witness the highest CAGR during the forecast period, owing to a surge in adoption of Hadoop in fraud prevention and detection, which positively impacts the market growth. For instance, almost 10% of healthcare insurance payments are attributed to fraudulent claims, and worldwide this is estimated to be a multibillion-dollar problem. The capability of Hadoopto store large unstructured data sets in NoSQL databases and the surge in the use of this data to analyze and detect patterns in the field of fraud detection boost the growth of the Hadoop-as-a-service industry.

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By end user, the healthcare & life science segment is expected to register the highest CAGR of 49.0% during the forecast period, owing to surge in adoption of Hadoop in fraud prevention and detection and rise in use of this data to analyze and detect patterns in the field of fraud detection. However, the IT & telecommunication segment held the largest share in 2018, contributing to nearly one-fourth of the global Hadoop-as-a-Service market. Number of leading telecommunication organizations have opted to deploy big data systems to enable large-scale data analysis and processing. This has led them to handling customer issues and to achieve customer satisfaction, which, in turn, drives the adoption of Hadoop-as-a-service.

By deployment type, the run-it-yourself (RIY) segment held the largest share in 2018, accounting for more than two-thirds of the global Hadoop-as-a-Service market. his is attributed to its key benefit that the user does not have to worry about the installation, configuration, and regular updating part of the software, as the model provides full-service support options. However, the pure-play (PP) segment is expected to manifest the highest CAGR of 41.0% during the forecast period, because the service does not require hand-operated intervention to configure when the data size extends or contracts.

Covid-19 scenario:

1. The advent of Covid-19 has significantly impacted the global Hadoop industry.

2. The cancellation of the Mobile World Congress has hugely affected the market revenue as products and solutions get the biggest exposure and companies get a chance to meet new clients and seal new partnerships at such international shows.

3. During this pandemic, organizations are reluctant to invest big capital on new business models, hiring workforce, and every addition expense apart from essentials.

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Major market players

Microsoft Corporation
Amazon web services
IBM Corporation
Cloudera Inc.
MapR Technologies
Google Inc.
EMC Corporation
SAP SE
Datameer
Mortar Data (Datadog)

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Original link: Web3Wire