Growth in Big data market is going to be staggering. If the number are accurate this is phenomenal. Not sure if there is any other trend that has grown this fast in recent times…
The global Hadoop market is expected to grow at a compound annual growth rate of 58 percent between 2013 and 2020, according to a new report by Allied Market Research.
The market revenue was estimated to be $2 billion in 2013 and is expected to grow to $50.2 billion by 2020. A huge increase in raw structured and unstructured data and increasing demand for big data analytics are the major driving factors for the global Hadoop market, the report says. Hadoop provides cost-effective and faster data processing of big data analytics over conventional data analysis tools such as relational database management systems.
Distributed computing and Hadoop platform security issues are currently hindering the growth of the market, Allied Market Research says. But with continuous technological growth these issues can be addressed, it says