The Europe Hadoop Market would witness market growth of 37.3% CAGR during the forecast period (2021-2027).
Due to the increased rivalry in the corporate world, enterprises that generate huge amounts of data are compelled to use Hadoop services. Additionally, as compared to on-premise Hadoop, Hadoop as a Service has more popularity due to the lower upfront cost. Furthermore, the growing use of Hadoop by small and medium enterprises (SMEs) as well as Hadoop's properties such as flexibility and responsiveness for enterprises are some of the other factors supporting the market's growth.
Factors such as increased demand for cost-effective big data management solutions, rising Internet of Things (IoT) penetration across the globe, and widespread acceptance of HaaS across various industry verticals such as manufacturing, IT, telecommunication, and banking propelling the growth of the Hadoop market.
Visual interface data discovery solutions are becoming popular around companies. These systems support self-service business intelligence (BI), enabling a lot of users to rapidly and effortlessly integrate data from a variety of sources, including log files, clickstreams, social media, videos, and more. Any company that wishes to have more value out of Big Data should investigate the rising trend toward visualization-based data discovery tools. The potential economic benefits are substantial, and data governance principles can aid in a smooth transition.
Due to the growing adaptation of devices connected based on the internet of things (IoT) in nations such as Germany, the United Kingdom, Italy, Spain, and others, the demand for Hadoop solutions would increase in this region. In addition, increased investment and implementation of big data services besides European governments will stimulate regional market growth.
Content management, stream processing, fraud prevention, detection, and risk management are some of the Hadoop applications. Hadoop is majorly used by the financial sector, government agencies, healthcare sector, financial trading, retailers. Businesses and enterprises throughout this region are incorporating Hadoop to gather feedback on the product, understand customer needs, enhance customer satisfaction
The Germany market dominated the Europe Hadoop Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $21,609.8 million by 2027. The UK market is experiencing a CAGR of 36.2% during (2021 - 2027). Additionally, The France market would witness a CAGR of 38.3% during (2021 - 2027).
Based on Enterprise Size, the market is segmented into Large Enterprises, and Small & Medium Enterprises (SMEs). Based on Component, the market is segmented into Services, Software, and Hardware. Based on Deployment Model, the market is segmented into On-premise, Cloud, and Hybrid. 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. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Hadoop Market Size will Hit $341.4 Billion by 2027, at a CAGR of 38.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amazon Web Services, Inc., Cisco Systems, Inc., Cloudera, Inc., Datameer, Inc., Hitachi Vantara LLC (Hitachi Ltd.), Fair Isaac Corporation, MapR Technologies, MarkLogic, Microsoft Corporation, and Teradata Corporation.
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