Hadoop Big Data Analytics Market worth $23.5 billion by 2025
The report "Hadoop Big Data Analytics Market by Component (Solutions and Service), Deployment Mode, Organization Size, Business Function, Vertical (BFSI, Healthcare and Life Sciences, Manufacturing), and Region - Global Forecast to 2025", size to grow from USD 12.8 billion in 2020 to USD 23.5 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 13.0% during the forecast period. Various factors such as the growing focus on digital transformation, rise in investments in analytics, increasing focus on remote monitoring in support of the COVID-19 pandemic, growing adoption of smart payment technologies, and business need to build a digital infrastructure for largescale deployments are expected to drive the adoption of Hadoop big data analytics market. The Hadoop big data analytics market is expected to witness a slowdown in its growth in 2020 owing to lockdowns imposed worldwide due to COVID-19. These lockdowns have been impacting the global manufacturing, retail and eCommerce, government, and public sectors. They have also influenced supply chains and logistics owing to complete or partial halting of operations in various verticals. Manufacturing, transportation and logistics, and retail and eCommerce, etc. are the worst-hit sectors. The availability of essential items has been impacted owing to the lack of manpower to manufacture these items and transport them, even though essential items have been exempted from lockdowns. The condition is expected to come under control by early 2021, while the demand for Hadoop big data analytics solutions and services is expected to increase owing to surging demand for remote health monitoring of individuals and assets, sales and customer management, predictive asset maintenance, energy management, and inventory management. Businesses in various verticals are already planning to deploy a diverse array of Hadoop big data analytics solutions to carry out the digital transformation of mission-critical processes, which are expected to improve their operations and strengthen customer relationships. The reduction in infrastructure and operational costs, improvement in customer experiences, enhancement in data security and privacy, increase in operational visibility for various processes, and improvement in realtime business decision-making are the key business and operational priorities of enterprises that are expected to drive the adoption of Hadoop big data analytics solutions worldwide. The marketing and sales business function to hold a larger market size during the forecast period The Hadoop big data analytics market by business function has been segmented into marketing and sales, operations, finance, and human resources. The marketing and sales segment is expected to grow at a rapid pace in the coming years in the Hadoop big data analytics market. The growing use of structured and unstructured data across marketing and sales to understand and enhance customer experience is expected to fuel the adoption of Hadoop big data analytics solutions and services. The BFSI vertical to hold the largest market size during the forecast period The Hadoop big data analytics market is segmented based on vertical. The verticals include BFSI, transportation and logistics, retail and eCommerce, manufacturing, telecommunications and IT, healthcare and life sciences, government and public sector, media and entertainment, travel and hospitality, others (energy and utilities, education and research, and real estate). The BFSI segment is