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.

Market Dynamics

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)

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

End-Use Outlook (Revenue, USD Billion; 2018–2028)

Manufacturing

Retail & E-commerce

Transportation and Logistics

BFSI

Healthcare

Media & Entertainment

Energy & Utilities

Government

Real Estate

Others

About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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