The global Hadoop big data analytics market is projected to exhibit a significant growth, at a CAGR of around 30.5%, during the forecast period. A significant rise in big data has been contributing to the adoption of big data analytics across industries, such as BFSI, telecom & IT, manufacturing and retail. In Healthcare Sector with the help of predictive analytics, and big data tools, the medical professionals and HCPs are now able to provide personalized healthcare services to individual patients. Big data is a growing concern for enterprises to store and manage a huge amount of data reliably and safely. Big data comprises of multisource content, including audio, videos, text, images, wireless communication data, and Spatio-temporal data.
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Big Data analytics tools such as Tableau Public, OpenRefine, KNIME, RapidMiner, Google Fusion Tables, NodeXL, Wolfram Alpha, Operators, Solver, Dataiku and DSS can predict outcomes accurately, thereby, allowing businesses and organizations to make better decisions, while simultaneously optimizing their operational efficiencies and reducing risks. Therefore, the companies are focusing on effective management of big data which is now possible with big data analytics solutions; increasing growth of the Hadoop big data analytics market. By combining Big Data technologies with machine learning and AI, the IT sector is continually powering innovation to find solutions even for the most complex of problems.
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The need for big data analytics tools is ever-growing as the data generation speed has increased at a fast pace due to increased dependency on the internet. According to the World Economic Forum, it is predicted that by 2020 that the amount of data produced by all sectors will reach a staggering 44 zettabytes indicating the need for data management to store, retrieve and secure data. Moreover, in 2020, we will see a growing number of organizations capitalizing on object storage to focus on data orchestration, data discovery, data preparation, and model management to create structured data from unstructured data, allowing metadata to be used to make sense of the tones of data generated by AI and ML workloads.
Global big data analytics presents tremendous opportunities that are leading to breakthroughs in improved healthcare, personalized education, safer and more efficient transportation and traffic tracking, significant scientific discoveries, improved manufacturing, better weather forecasting, and increased agricultural crop yields, among others. These benefits are largely due to AI has driven technologies and Big data analytics which provides efficient tools to make smart insights and decisions. Big companies are making huge investments in creating a platform for data management which not only involves the adoption of interconnected IoT devices, AI, machine learning and big data analytical tools; however, also includes investments made in terms of upskilling the employees to handle big data.
Global Hadoop big data analytics Market-Segmentation
By Solution
- Data Discovery and Visualization
- Advanced Analytics
By Vertical
- BFSI
- IT & Telecom
- Healthcare
- Manufacturing
- Others (Energy & Utility and Media & Entertainment)
