Report Shows Hadoop Growing at 53.7% CAGR, But Complexity Remains an Issue
The latest in a string of market research reports has arrived forecasting huge growth for big data analytics platform Hadoop, but not everyone agrees that Hadoop adoption is going so smoothly. According to researchers at Stratistics MRC, the global hadoop market is expected to grow at a CAGR of 53.7% over the forecast period 2015 to 2022. " Increasing investments in data management, rising amount of structured and unstructured data, hasty growth in consumer data and rapidly increasing demand for big data analytics are the factors influencing the market growth," the study's authors report.
Here are some of the details, and some of the warning signs coming in pointing to too much complexity required in deploying Hadoop.
According to Stratistics MRC:
"Advancements in technology, increasing demand for effective and faster accessibility of data in various industries such as Banking, Financial services and Insurance (BFSI), telecommunication and healthcare are acting as major drivers for growth of this market. However security & performance issues, immature platform are the factors restraining the market growth."
"North America has the largest regional market for Hadoop led by the technological advancements and early adoption of hadoop. Asia Pacific is expected to witness highest growth on account of rapidly expanding IT services industry in emerging markets such as India and China."
Research and Markets also recently announced the "Global Big Data Analytics & Hadoop Market Analysis & Trends - Industry Forecast to 2025" report. It finds that the Global Big Data Analytics & Hadoop Market is poised to grow at a CAGR of around 45.5% over the next decade to reach approximately $285 billion by 2025.
No matter how you slice it, forecasts are rosy for Hadoop's growth. However, there are challenges ahead. Gartner, Inc.'s Hadoop Adoption Study, involving 284 Gartner Research Circle members, found that only 125 respondents who completed the whole survey had already invested in Hadoop or had plans to do so within the next two years. The study found that there are difficulties hiring skilled Hadoop workers.
In an interview we did with MapR not long ago, officials said:
"There is a shortage of trained big data technology and analytics experts. Labor supply constraint is a key inhibitor of adoption and use of big data technologies. Current training offerings in the marketplace do not meet the cost, convenience and flexibility needs of today’s professionals. In-person training incurs significant costs, travel, and a big contiguous block of committed time."
The good news is that there are many Hadoop training options emerging, including some free ones. Here is more on this topic, from our previous post.