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Market Trends – Increasing focus of enterprises on digitization to increase demand for Hadoop big data analytics for better analysis of customer behaviour

VANCOUVER, BC, CANADA, April 21, 2022 /EINPresswire.com/ --
Global Hadoop big data analytics market size reached USD 12.67 Billion in 2020 and is expected to register a revenue CAGR of 12.2% during the forecast period, according to the latest analysis by Emergen Research. Key factors driving revenue growth of global Hadoop big data analytics market include surge in adoption of smart payment solutions and increased need for cost-effective storage solutions. IoT automates and unifies various processes and activities. Meanwhile, contactless payments enable easy payment processes as they enable customers to pay for products and services using their payment cards connected with RFID technology or other payment devices without the need to swipe, input a personal identification number (PIN), or sign for the transaction. For example, in February 2022, Apple has revealed plans to launch Tap to Pay in various iPhone models.This would enable various merchants using iPhones in the U.S. to smoothly and securely transact using Apple Pay, contactless credit and debit cards, and other digital wallets. In addition, contactless payments are done using devices, such as fobs and wearables. Wearable contactless payment devices, such as smartwatches, smart rings, key fobs, and others, are connected directly to the customer\'s bank accounts and function in a similar manner as a regular debit card, allowing payments at any merchants store that accepts contactless transactions. The tap-and-go payment method allows merchants more safe and error-free payment options.

Machine learning is increasingly used for data gathering to improve digital marketing among businesses operating in various industries, such as manufacturing, retail & e-commerce, transportation and logistics, BFSI, healthcare, media & entertainment, energy & utilities, and real estate. Payments in the transportation industry have evolved with the transition from currency and paper-based transactions to digital payment options. The COVID-19 pandemic has led to social distancing, and there has been an increase in usage of smart payment technologies across regions. Governments are encouraging people to use digital and contactless payment options during this pandemic as cash transfers can lead to increase in COVID-19 cases.

The report considers the COVID-19 pandemic as one of the key influencing factors of the Hadoop Big Data Analytics market. The report discusses in detail the positive and negative impact of the pandemic on the Hadoop Big Data Analytics industry. The supply chain disruptions and economic volatility have altered the dynamics of the Hadoop Big Data Analytics industry. The report explores the effects of the pandemic on the market and its key segments and regions. It also offers a forecast estimation of the market growth in a post-COVID-19 scenario.

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Some Key Highlights in the Report
• Solution segment revenue is expected to expand at a significant CAGR during the forecast period. Hadoop big data analytics solutions are used by businesses to manage, scale, and distribute customer and organizational data. This also helps with data collection from specialized machine data sets and during report creation.
• BFSI industry is expected to record considerable revenue growth during the forecast period. As the BFSI industry is strictly regulated, it needs new approaches. Organizations in the sector are replacing existing systems with modern software solutions. This is expected to increase adoption of Hadoop big data analytics solutions in the BFSI sector.
• North America is expected to account for the largest revenue share over the forecast period. The presence of robust IT infrastructure and companies, flexibility of implementing and integrating new technologies in top-tier organizations, and rising demand for business intelligence across various sectors in countries, such as the U.S., Canada, and Mexico, are factors driving revenue growth of Hadoop big data analytics market in North America.

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The report further sheds light on the emerging growth opportunities, challenges, market threats, limitations, and factors likely to restrict the growth of the Hadoop Big Data Analytics market. The report further discusses in detail the market in international waters and the emerging trends in those regions. It also offers insights into the competitive landscape, market drivers, industrial scenario, and the latest product and technological developments to offer a comprehensive overview of the Hadoop Big Data Analytics market landscape.

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The Hadoop Big Data Analytics research report also includes an insightful study of the prominent players of the industry along with their business overview, strategic planning, and business expansion plans adopted by them. This assists the readers and business owners in formulating strategic expansion and investment plans. The report focuses on mergers and acquisitions, joint ventures, collaborations, partnerships, corporate and government deals, and others. The report also talks about the expansions these prominent players are vying for in the key regions of the market. The report focuses on the detailed analysis of the technological and product developments undertaken by these companies.

The key companies studied in the Hadoop Big Data Analytics report are:
Microsoft Corporation, Google LLC, Oracle Corporation, Amazon Web Services, Hewlett Packard Enterprise, SAP SE, Salesforce.com, Inc., Micro Focus International plc, Splunk Inc., and Imply Corporation.

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Emergen Research has segmented the global Hadoop big data analytics on the basis of component, deployment, application, end-use, and region:
• Component Outlook (Revenue, USD Billion; 2018–2028)
o Solution
o Services
• Deployment Outlook (Revenue, USD Billion; 2018–2028)
o On-premises
o Cloud
• Application Outlook (Revenue, USD Billion; 2018–2028)
o Customer Analytics
o Risk & Fraud Analytics
o Security Intelligence
o Internet of Things (IoT)
o Supply Chain Analytics
o Others
• End-Use Outlook (Revenue, USD Billion; 2018–2028)
o Manufacturing
o Retail & E-commerce
o Transportation and Logistics
o BFSI
o Healthcare
o Media & Entertainment
o Energy & Utilities
o Government
o Real Estate
o Others
• Regional Outlook (Revenue, USD Billion; 2018–2028)
o North America
1. U.S.
2. Canada
3. Mexico
o Europe
1. Germany
2. France
3. U.K.
4. Italy
5. Spain
6. BENELUX
7. Rest of Europe
o Asia Pacific
1. China
2. India
3. Japan
4. South Korea
5. Rest of APAC
o Latin America
1. Brazil
2. Rest of LATAM
o Middle East & Africa
1. Saudi Arabia
2. UAE
3. South Africa
4. Turkey
5. Rest of MEA

The report addresses the following key points:
• The report provides a forecast of market drivers, restraints, and future opportunities for the Hadoop Big Data Analytics market
• The report further analyses the changing market dynamics
• Regional analysis and segmentation of the market with analysis of the regions and segments expected to dominate the market growth
• Extensive competitive landscape mapping with profiles of the key competitors
• In-depth analysis of business strategies and collaborations such as mergers and acquisitions adopted by the key companies
• Revenue forecast, country scope, application insights, and product insights

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