Bullish Forecast for Hadoop Services
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.
Along with the rise of Spark, other potential roadblocks to the continuing growth of the Hadoop adoption include distributed computing and security issues, the market watcher added.
Read the full story at sister publication EnterpriseTech.com.