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Increasing adoption of smart payment solutions & rising demand for cost-effective storage solutions are some key factors driving global Hadoop big data analytic

VANCOUVER, BC, CANADA, November 7, 2022 /EINPresswire.com/ -- The Global Hadoop Big Data Analytics Market Report, published by Emergen Research, offers an industry-wide assessment of the Hadoop Big Data Analytics market, which is inclusive of the most crucial factors contributing to the growth of the industry. The latest research report comprises an extensive analysis of the micro- and macro-economic indicators that influence the global market development during the forecast period of 2021-2028. The current trends of the Hadoop Big Data Analytics market, combined with a wide array of growth opportunities, key drivers, restraints, challenges, and other critical aspects, have been vividly detailed in the Hadoop Big Data Analytics market report. Furthermore, the report takes into account various market dynamics, which, in turn, generate a plethora of developmental prospects for the leading players involved in the of the Hadoop Big Data Analytics industry. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Hadoop Big Data Analytics market demand and supply chains. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.

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. Increasing focus of organizations on digitization is also expected to boost market revenue growth during the forecast period. Organizations are trying to make best use of data assets, which has led to increase in focus of organizations on digitization. In the competitive global world, Big Data analytics enable organizations to make informed, strategic business decisions. Additionally, big data analytics can help businesses evaluate information specific to new trends and customer behavior for identifying new growth opportunities. This is expected to increase adoption of Hadoop big data analytics solutions among organizations across regions. In addition, data volume is increasing considerably as a result of rapid digitization, which has led to increased demand for Hadoop big data analytics solutions for analyzing such data and generating insights for organizations. This is expected to boost market revenue growth.

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This section of the report offers valuable insights into the geographical segmentation of the Hadoop Big Data Analytics market, alongside estimating the current and future market valuations based on the demand-supply dynamics and pricing structure of the leading regional segments. Furthermore, the growth prospects of each segment and sub-segment have been meticulously described in the report.

The report classifies the global Hadoop Big Data Analytics market into various regions, including:

North America (U.S., Canada)

Latin America (Chile, Brazil, Argentina, Rest of Latin America)

Europe (U.K., Italy, Germany, France, Rest of EU)

Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)

Middle East & Africa (Saudi Arabia, the U.A.E., South Africa, Rest of MEA)

The Global Hadoop Big Data Analytics Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.

The leading market contenders listed in the report are as follows:

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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The global Hadoop Big Data Analytics market is broadly segmented on the basis of different product types, application range, end-use industries, key regions, and an intensely competitive landscape. This section of the report is solely targeted at readers looking to select the most appropriate and lucrative segments of the Hadoop Big Data Analytics sector in a strategic manner. The segmental analysis also helps companies interested in this sector make optimal business decisions and achieve their desired goals.

Component Outlook (Revenue, USD Billion; 2018–2028)
Solution

Services

Deployment Outlook (Revenue, USD Billion; 2018–2028)
On-premises

Cloud

Application Outlook (Revenue, USD Billion; 2018–2028)
Customer Analytics

Risk & Fraud Analytics

Security Intelligence

Internet of Things (IoT)

Supply Chain Analytics

Others

Report Highlights:

The report conducts a comparative assessment of the leading market players participating in the global Hadoop Big Data Analytics market.

The report marks the notable developments that have recently taken place in the Hadoop Big Data Analytics industry

It details on the strategic initiatives undertaken by the market competitors for business expansion.

It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Hadoop Big Data Analytics market value chain.

The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.

Key questions addressed in the report:

Who are the leading players dominating the global Hadoop Big Data Analytics Market?

Which factors could potentially hamper the global market growth during the forecast period?

Which regional market offers the most attractive growth opportunities to the companies operating in this market?

How is the raw material availability affecting the demand for Hadoop Big Data Analytics in this industry vertical?

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