Hadoop refers to an open-source application framework that enables storing and processing large sets of data in a distributed computing environment. Hadoop consists of two main subprojects: Hadoop Distributed File System (HDFS) and MapReduce. MapReduce is the heart of Hadoop, the programming framework that performs two essential functions: distributing work to various nodes within the cluster and organizing and reducing results from each node to return as a cohesive answer to a query. HDFS is designed to store massive amounts of data reliably and stream the data at high bandwidth to user applications.
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Since its emergence in 2009, the global Hadoop market has been displaying a positive growth trajectory. Hadoop has emerged as one of the best instruments for processing and storing big data. Rising volumes of unstructured as well as structured data across a spectrum of industries such as retail, healthcare, telecommunication, BFSI, and media and entertainment among others are leading to consistently increasing demand for Hadoop solutions.
Data-heavy Smart Electronics Exhibit Demand for Data Processing Technologies
The ceaseless penetration of smart electronics practically across all industry verticals has resulted in the generation of large amounts of data to be stored so it can be accessed from anywhere across the globe. This led to the concept of cloud storage and big data. Data generated across end use segments include documents, social media data, web content, and e-mails. As most of the data generated is unstructured, organizations are looking for a solution for sorting the data to make it utilizable.
In the bid to manage unstructured data, increased corporate spending for the same has led to higher adaptability of Hadoop and similar other open source application frameworks. However, Hadoop offers advantages of cost effectiveness and low maintenance in comparison to other frameworks such as relational database management systems (RDBMS). The other advantage of Hadoop lies in its ability to function on commodity hardware and reduced turnaround time for data processing.
IT and ITES Service Sectors Hold Promise for Hadoop Market
Amongst the several end users of Hadoop, the services sector will display robust growth in the coming years. Rising business outsourcing practices to reduce operational cost is fueling the growth of the Hadoop market. In 2014, the IT and ITES sector accounted for the largest share in the global market. These service sectors generate vast amounts of unstructured and structured data that needs to be processed to make it utilizable. To address this, most IT companies are developing their own version of Hadoop that is suitable for their data management and data processing needs. Furthermore, ITES sectors such as business process outsourcing (BPO) and knowledge process outsourcing (KPO) also generate massive amounts of data that needs to be structured. Thus, Hadoop offers a solution to both IT and ITES sectors for managing large volumes of data.
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Banking, financial services and insurance, telecommunication, retail, and government sectors are some other major contributors to the growth of the Hadoop market. Government departments are increasingly using Hadoop and similar technologies for analyzing population demographics. This helps in city planning, developing community amenities, educational institutions, and healthcare facilities.