In the present time, Big Data is everywhere and there is need to store whatever is being generated, for the fear of losing some useful information. Businesses are looking for efficient and prominent ways to extract information from the voluminous amount of data available to them. With the amount of data businesses produce, they need right examine and analysis of that raw data so that they can gain the proper insights to improve their business. Hadoop has already taken the big data storm and this is responsible to increase the demand for Big Data Hadoop skills with a rapid growth in Hadoop market.
Future of Hadoop Market Over the Globe
According to the report that is prepared by IDC, global Big Data market will grow and reach the value of $46.34 billion at the end of 2018 and the technology associated with the Big Data will see the growth at a CAGR (compound annual growth rate) of 23.1% from 2014 to 2019.
The annual spending on Hadoop will rise to $48.6 billion in 2019. As Hadoop has become synonymous to Big Data, a report by Allied Market Research suggests that global Hadoop market will grow exponentially and garner $84.6 billion by the end of 2021, registering a CAGR of 63.4%. Between the period of 2014 to 2021, North America region will contribute 52% share of total Hadoop market revenue in 2015. But the European region is expected to adopt Hadoop based data management and data analytics technology very rapidly during that period, registering a CAGR of 65.7%.
Hadoop Market Trends for Hadoop Services
Hadoop is open source programming software which is used for mining of structured and unstructured data to extract valuable information from it. Hadoop is used for scalable data storage platform where huge sets of data are processed. Hadoop is cost effective and flexible as it can access data from new sources and derives valuable information that can help businesses. Market campaign analysis, Data warehousing, log processing, fraud data analysis and others things like these can also be done by Hadoop. Different industries like Healthcare, Banking and Finance, Manufacturing, Biotechnology, and Defense are demanding fast access and integration of data which has escalated the market growth of Hadoop and it will not slow-down in coming years.
The Hadoop Market has been forecasted to suppress $16 Billion with $84.6 Billion at a Compound Annual Growth Rate of 58% by 2021.
Hadoop ecosystem consists of Hadoop software, hardware, and services. Services section in 2015, covers 49% share of total market revenue and growth in demand for data analysis for various organizations. The Hadoop services are further segregated into consulting, training & outsourcing, integration & deployment, and middleware & support services. In 2015 consulting, training & outsourcing section generated revenue of $1.6 billion. Due to the investment in data analytics and real-time operations, the integration & deployment section will see the fastest CAGR of 64.8% during the five year period. Application software, management software, and packaged software are derived from the Hadoop software market. Application software generated the highest revenue in the year of 2015. And the package software will record fastest CAGR among different Hadoop software section during that time period.
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The Hadoop market is segregated on the basis of type, end users, and regions. Type section consists of software, hardware, and services. The end-user section consists of BFSI, government sector, IT, healthcare, telecommunication, retails etc. The end user is probably the best sector by which Hadoop market is analyzed. The data created by retail sector is humongous and analysis of that data can be beneficiary for them. The second is government sector which generates highest market revenue for them as well as they create a very large amount data which need analysis. Choosing Hadoop helped these sectors in a big way as it has provided them a cost-effective way of data analysis and also help them in decision making and avoid any possible threats.
According to the survey of Stack Overflow on 56,000 programmers, “There is a rise 30% rise of Big Data & Hadoop based job in London”.
Higher Education Funding Council for England (HEFCE) has granted £1.7 million to develop engineering & computer science courses which add Big data & Hadoop in their curriculum for 32 universities and colleges. Anyone who has worked in data science and has a computer science degree at the undergraduate level can apply for the Master’s program for Big Data and data science. As Facebook confirmed that they will build a data center and HortonWorks also opening a data center in Ireland, this will likely to increase Big Data and Hadoop job opportunities across Ireland and other parts of Europe.
With the era of Startups in India, the e-commerce industry, consumer-driven market, and the economy which is growing at a rapid pace, big data Hadoop & data analytics will create new job opportunities in India. TCS already had made a deal with four colleges to offers courses in Big Data to make quality professionals. Infosys also invests $4 million for building Waterline Data Science center. During the forecast period, India will be the favorite destination for outsourcing talented Big Data Hadoop and Data analytics professionals with efficiency and at a low cost.
A survey done by O’Reilly suggests that the Big Data Hadoop is one of the top paying domains.
If you use the keyword “Hadoop Jobs” and search it on the top job portals likes Glassdoor, Indeed, Dice, etc. would show search results that are full of designation likes data engineers, Hadoop architect, Hadoop developer, Hadoop administrators, data scientists and other big data roles from top BFSI. The average salary one can land with data expertise is $104,850 per annum. Data Scientists can land approx. $115,500 annually.
A huge array of companies likes Amazon, HortonWorks, Cloudera, Oracle, Cisco Systems, IBM, Teradata, Datameer, Google, Dell, Yahoo, MapR, Microsoft, TCS, LinkedIn, and others are constantly innovating and upgrading their products to broaden their market share. With the companies developing new technologies, service providers are really interested in launching next-generation solutions and services which will enhance analytics of real-time data operation and improve the Hadoop security integrations.
Big Data Hadoop has become the important part of the IT world and the momentum with it will create new job opportunities all over the world. It is the right time for anybody who opting to acquire Big Data Hadoop skills.
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Also, have a look at 50 Must-Read Hadoop Interview Questions and give your preparation a new edge!
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