According to a recent report published by Allied Market Research, titled, “Hadoop-as-a-Service Market by Deployment Type, Organization Size, and End User: Opportunity Analysis and Industry Forecast, 2019–2026,”the Hadoop-as-a-service market size was valued at $ 5,279million in 2018, and is projected to reach $74,097million by 2026, growing at a CAGR of 39.2% from 2019 to 2026.
Factors such as increase in penetration of Internet of Things (IoT) across the globe;rise in demand for cost-effective solutions for the management of Big Data; and wideacceptance 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 benefits of this technology are expected to impact negatively on the Hadoop-as-a-service market growth. On the contrary, ongoing partnership&funding taking place in Hadoop market and rising popularity of e-commerce are expected to provide lucrative opportunities for the 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 trendduring the forecast period. This isattributed 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 witness highest growth in the near future, owing to the fact that the service does not require hand-operated intervention to configure when the data size extents or contracts.In addition, the service provides users with nontechnical interface to use HDaaS without understanding the underlying software.
The IT & telecommunicationsegment dominated the Hadoop-as-a-service market sizein 2018, and is expected to continue this trend during the forecast period. Number of leading telecommunication organizations have opted to deploy Big Data systems to enable large-scale data analysis and processing. This has led them in handling customer issues and to achieve customer satisfaction, which, in turn, drive the adoption of Hadoop-as-a-services. However, the healthcare & life sciencessegment is expected to witness highest CAGR during the forecast period, owing tosurge in adoption of Hadoop in fraud prevention and detection, which positively impactsthe market growth. For instance, almost 10% of the 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 surge in use of this data to analyze and detect patterns in the field of fraud detection boostthe growth of the Hadoop-as-a-service industry.
Key Findings Of The Study
- By deployment type,the run-it-yourself (RIY)segment dominated the Hadoop-as-a-service market. However, the pure play (PP)segment is expected to exhibit significantgrowthduring the forecast period.
- Depending on organization size, the large enterprise segment accounted for the highest revenuein 2018.
- On the basis of end user, IT & telecommunication industry generated the highest revenuein 2018. However, healthcare & life sciences industry isexpected to witness highest growth rate in the near future.
- Region wise, North Americais expected to witness significant growth in the upcoming years.However, Asia-Pacific is expected to witness highest growth rate in the near future.
Some of the key market players profiled in the report includeMicrosoft Corporation, IBM Corporation, Amazon web services, Cloudera Inc., Google Inc., MapR Technologies, EMC Corporation, Mortar Data (Datadog), SAP SE, and Datameer.This study includes Hadoop-as-a-service market analysis,hadoop-as-a-service market trends, and future estimations to determine the imminent investment pockets.