Despite major market inroads being made by Apache Spark, a new forecast estimates the global market for the Hadoop big data framework will continue to grow at a healthy clip through 2021, fueled in part by growing enterprise demand for Hadoop services.
According to a market forecast released this week by Allied Market Research, the Hadoop market is expected to grow at a 63.4 percent compound annual growth rate over the next five years, reaching $84.6 billion by 2021. The sustained growth is attributed in part to accelerated Hadoop adoption in Europe, where annual growth rates are expected to top 65 percent.
The sustained growth of the Hadoop market stems largely from higher rates of adoption in North America, especially in the IT, banking and government sectors as enterprise big data strategies have been rolled out.
The forecast includes Hadoop software, hardware and services. The market watcher found that Hadoop services accounted for nearly half (49 percent) of global demand. Hadoop services include consulting, "integration and deployment" along with middleware and support. Consulting and related services alone accounted for an estimated $1.6 billion in revenue last year, the market researcher said.
Meanwhile, increasing investments in big data analytics and "real-time operations" are expected to drive integration and deployment services, making it the fastest growing Hadoop services segment (64.8 percent) over the next five years. The "trade and transportation" sectors are expected to fuel adoption of Hadoop services during the forecast period, with an annual growth rate pegged at 76.3 percent through 2021.
Along with trade and transportation, other key end-users of Hadoop products and services include a banking, financial services and insurance category along with manufacturing, retail, telecommunications, healthcare and media and entertainment. "Factors such as aggrandized generation of structured and unstructured data and efficient and affordable data processing services offered by Hadoop technology are the major drivers of the market," the analyst concluded.
Read More@ http://www.enterprisetech.com/2016/08/25/bullish-hadoop-forecast-despite-spark-hype/
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