Global IoT Technology Market Size, Share & Trends Analysis Report By End Use, By Component, By Node Component (Processor, Logic Device, Memory Device, Sensor, and Connectivity IC), By Regional Outlook and Forecast, 2024 - 2031

Global IoT Technology Market Size, Share & Trends Analysis Report By End Use, By Component, By Node Component (Processor, Logic Device, Memory Device, Sensor, and Connectivity IC), By Regional Outlook and Forecast, 2024 - 2031

The Global Hadoop Market size is expected to reach $1316.3 billion by 2031, rising at a market growth of 38.6% CAGR during the forecast period.

The IT and telecommunications segment generates vast amounts of data from network operations, customer interactions, and digital services, making it well-suited for Hadoop's capabilities in processing and analyzing large volumes of data. Thus, the IT and telecommunications segment acquired 25.3% revenue share in the market 2023.Companies in this sector use Hadoop for various purposes, such as network optimization, customer analytics, and cybersecurity.

The sheer volume, velocity, and variety of daily data are staggering, driven by the proliferation of digital devices, sensors, and online platforms. Social media interactions, e-commerce transactions, sensor data from IoT devices, and logs from enterprise systems all contribute to this data deluge.

Additionally, organizations analyze customer data for targeted marketing, optimize supply chain operations, or detect fraud in financial transactions, it provides the computational power and flexibility to support these complex machine learning tasks. Thus, the integration of advanced analytics and machine learning capabilities is driving the growth of the market.

However, the costs associated with Hadoop implementation can be substantial, encompassing hardware, software, and personnel training expenses. Hardware costs are a major consideration, as it requires a cluster of servers to function effectively. Hence, high costs may deter the adoption of the market.

Component Outlook

On the basis of component, the market is classified into services, software, and hardware. The software segment recorded 31.6% revenue share in the market in 2023. This segment includes the core Hadoop software and related tools and applications that extend its functionality.

Enterprise Size Outlook

Based on enterprise size, the market is bifurcated into large enterprises and small & medium enterprises (SMEs). The large enterprises segment garnered 68.2% revenue share in the market in 2023. This growth can be attributed to large enterprises typically having larger budgets and resources to invest in big data technologies like Hadoop.

Deployment Outlook

By deployment model, the market is divided into on-premise, cloud, and hybrid. The cloud segment garnered 22.9% revenue share in the market in 2023. Cloud deployments use cloud service providers, such as Amazon Web Services (AWS), Microsoft Azure, or Google Cloud Platform (GCP), to host and manage Hadoop infrastructure. Scalability, flexibility, and cost-efficiency are all advantages of cloud deployments.

Industry Outlook

Based on industry, the market is segmented into IT & telecommunications, BFSI, retail & consumer goods, manufacturing, healthcare, government & defense, media & entertainment, energy & utility, trade & transportation, and others. The retail & consumer goods segment recorded 11.7% revenue share in the market in 2023. Retailers and consumer goods companies use Hadoop to analyze customer behavior, optimize pricing strategies, manage inventory, and enhance the customer experience.

Regional Outlook

Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific segment procured 28.3% revenue share in the market in 2023. Asia Pacific is one of the regions that is experiencing rapid growth in the big data analytics space.

The leading players in the market are competing with diverse innovative offerings to remain competitive in the market. The above illustration shows the percentage of revenue shared by some of the leading companies in the market. The leading players of the market are adopting various strategies in order to cater demand coming from the different industries. The key developmental strategies in the market are Acquisitions, and Partnerships & Collaborations.

Recent Strategies Deployed in the Market

• May-2024: Cloudera, Inc. partnered with Aboitiz Data, a Singaporean software company. to enhance enterprise AI solutions in Asia Pacific. The partnership leverages Cloudera's hybrid data platform and ADI's expertise in Apache Spark, enabling financial services and industrial sectors to efficiently deploy AI and data science solutions, optimizing operations across diverse business verticals.
• Feb-2024: Cisco Systems, Inc. announced a partnership with NVIDIA, an American software company, to deliver AI infrastructure solutions for data centers, designed to be easy to deploy and manage, providing the massive computing power necessary for enterprises to thrive in the AI era.
• Nov-2023: Amazon Web Services, Inc. came into partnership with Cirata PLC, a provider of enterprise-ready software solutions. Through this partnership, Amazon Web Services, Inc. would facilitate swift and effortless data and metadata migration to the cloud, allowing users to harness the full potential and features of AWS services such as Amazon S3, Amazon EMR, and AWS Glue Data Catalog.
• Nov-2023: Cloudera, Inc. signed a partnership with Pinecone, a vector database solutions provider, to streamline operations, improve customer experiences, and accelerate generative AI use cases for organizations. This partnership enhances AI applications with semantic search capabilities, enabling more accurate and relevant responses.

List of Key Companies Profiled

• Cloudera, Inc.
• Microsoft Corporation
• Teradata Corporation
• Datameer, Inc.
• Hitachi Vantara LLC (Hitachi Ltd.)
• Amazon Web Services, Inc. (Amazon.com, Inc.)
• Cisco Systems Inc.
• Fair Isaac Corporation (FICO)
• Hewlett Packard Enterprise Company
• Progress Software Corporation (MarkLogic Corporation)
• NTT Data Group Corporation (Nippon Telegraph and Telephone)
• Fujitsu Limited
• NEC Corporation
• SAS Institute, Inc.
• Dell Technologies, Inc.
• Alteryx, Inc.
• QlikTech International AB (Talend, Inc.)

Global Hadoop Market Report Segmentation

By Component

• Services
• Software
• Hardware

By Enterprise Size

• Large Enterprises
• Small & Medium Enterprises(SMEs)

By Deployment Model

• On-premise
• Cloud

By Industry

• IT & Telecommunications
• BFSI
• Retail & Consumer Goods
• Manufacturing
• Healthcare
• Government & Defense
• Media & Entertainment
• Energy & Utility
• Trade & Transportation
• Others

By Geography

• North America
• US
• Canada
• Mexico
• Rest of North America
• Europe
• Germany
• UK
• France
• Russia
• Spain
• Italy
• Rest of Europe
• Asia Pacific
• China
• Japan
• India
• South Korea
• Singapore
• Malaysia
• Rest of Asia Pacific
• LAMEA
• Brazil
• Argentina
• UAE
• Saudi Arabia
• South Africa
• Nigeria
• Rest of LAMEA