Hadoop-as-a-service (HaaS) Market
Factors which are primarily driving the global hadoop-as-a-service market is the increase in demand for cost effective solutions for the management of big data.
PORTLAND, PORTLAND, OR, UNITED STATE, April 18, 2023 /EINPresswire.com/ — Allied Market Research published a new report, titled, ” The Hadoop-as-a-service Market to Reach USD 74.09 Billion by 2026 | Top Players Such as – AWS, Cloudera and Datameer.” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.
The global Hadoop-as-a-service market size was valued at USD 5,279.00 million in 2018, and is projected to reach USD 74,097.00 million by 2026, growing at a CAGR of 39.2% from 2019 to 2026.
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Rise in competition in the business environment, extremely low upfront costs compared to on-premise Hadoop, and surge in adoption of HaaS by small and medium enterprises drive the growth of the global Hadoop-as-a-Service market. Moreover, flexibility and agility for businesses provided by HaaS supplement the market growth. Ongoing partnerships, funding, and rising popularity of e-commerce are expected to create lucrative opportunities for the market players in the future.
The global Hadoop-as-a-service market is segmented into deployment type, organization size, end user, and region. On the basis of deployment type, the market is bifurcated into run it yourself (RIY) and pure play (PP). By organization size, it is categorized into small & medium-sized enterprises and large enterprises. Depending on end user, it is segregated into manufacturing, BFSI, retail & consumer goods, healthcare & life sciences, government & defense, media & entertainment, education, IT & telecommunication, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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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.
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, due to the service does not require hand-operated intervention to configure when the data size extents or contracts.
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The global Hadoop-as-a-Service market across North America held the largest share in 2018, accounting for more than two-fifths of the market, owing to presence of a key market players and rise in adoption of big data technologies among organizations to enhance the consumer target marketing and risk management abilities. However, the market across Asia-Pacific is expected to manifest the highest CAGR of 44.0% during the forecast period, due to wide adoption of Hadoop-based applications for real-time analytics and web-based business processes coupled with penetration of internet and availability of technologically & digitally improving industrial infrastructures.
The key players operating in the Hadoop-as-a-service industry include Microsoft Corporation, IBM Corporation, Amazon web services, Cloudera Inc., Google Inc., MapR Technologies, EMC Corporation, Mortar Data (Datadog), SAP SE, and Datameer.
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Covid-19 Scenario:
● 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.
● 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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