Hadoop Big Data Analytics Market Size, Revenue Growth Factors & Trends, Key Player Strategy Analysis, 2021–2028
Growing need for affordable storage solutions and increased usage of smart payment systems are two major factors propelling the development of the worldwide Hadoop big data analytics market.
According to the most recent analysis by Emergen Research, the size of the global Hadoop big data analytics market was USD 12.67 billion in 2020 and is projected to grow at a rate of 12.2% during the forecast period. The rapid use of smart payment systems and the rising demand for cost-effective storage solutions are two major drivers propelling the worldwide Hadoop big data analytics market’s revenue growth. IoT automates and unifies many processes and activities. Customers can pay for goods and services using their credit cards integrated with RFID technology or other payment devices without having to swipe, enter a personal identification number (PIN), or sign for the transaction thanks to contactless payments.
Smart payments and contactless payments work hand in hand. While IoT automates and links various processes and jobs, smart payments streamline the process of moving money among several parties. In addition to contactless cards, key fobs and wearables are also being used more frequently for contactless payments. Many digital businesses are utilising ML to glean insights from the commercial world. Public transit systems have also developed, moving away from paper and cash transactions and toward computerised payment methods. One of the emerging sectors that has been successful in generating substantial consumer value amid the COVID-19’s unprecedented economic collapse is digital banking.
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The increased demand for organisational digital transformation, rising analytics investment levels, and growing acceptance of smart payment technologies are the main drivers anticipated to drive the hadoop big data analytics market over the forecast period. Additionally, more social media tools are being used to engage customers. On the other hand, it is also predicted that worries about legal and data privacy issues may restrain the development of the hadoop big data analytics market over the forecast period.
The primary factors predicted to propel the hadoop big data analytics market over the projected period include the rising demand for organisational digital transformation, rising analytics investment levels, and expanding use of smart payment technologies. The use of social media platforms to engage customers is also growing. On the other hand, concerns regarding legal and data privacy issues may impede the growth of the hadoop big data analytics industry throughout the anticipated time frame.
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Hadoop Big Data Analytics Market Segmentation:
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)
Deployment Outlook (Revenue, USD Billion; 2018–2028)
Application Outlook (Revenue, USD Billion; 2018–2028)
Risk & Fraud Analytics
Internet of Things (IoT)
Supply Chain Analytics
End-Use Outlook (Revenue, USD Billion; 2018–2028)
Retail & E-commerce
Transportation and Logistics
Media & Entertainment
Energy & Utilities
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