UPDATED 17:03 EDT / AUGUST 01 2012

Hadoop, Big Data reports future growth

 

A five year forecast report was recently released highlighting the technologies Hadoop and MapReduce and it reinforces the projected exponential growth curve that is taking place in the Big Data market. Driven by the continued emergence of Big Data onto the enterprise scene, the projections in the preview of the report are enormous. The report also states that the Hadoop-MapReduce solution to be the de-factor industry standard for business intelligence and projects a 58% compound annual growth rate. Back in March, Wikibon identified the importance of these transformational technologies in the “Big Data Manifesto”

Wikibon has identified two Big Data approaches that it believes will transform the business analytics and data management markets.

The opportunities presented by Big Data technology continue to emerge in a multitude of cases and markets. The report goes on to answer Hadoop-MapReduce questions surrounding adoption, vertical markets, identification of the largest markets, identifying growth, and identifying the business opportunities. Also predicted in Wikibon’s Big Data Manifesto

For those organizations that understand and embrace the new reality of Big Data, the possibilities for new innovation, improved agility, and increased profitability are nearly endless. Moreover, while software and hardware get all the headlines, skills gaps, big data processes and services (both internal and outsourced) to exploit value from data will consume the majority of spending in the big data space.

Note that Hadoop, as an open-source solution, presents a relatively inexpensive and effective proposition to organizations moving to Big Data adoption. It is quickly deployed and scales to the challenge that growing data presents. Projections that feature the growth of these technologies therefore are not surprising. More relevant is the reinforcement that Big Data revenues are projected to increase exponentially. Wikibon again has been ahead of the curve with their own market analysis that addressed the growing market and featured a 5-year market forecast.

“The Big Data market is exploding, not only in terms of marketing hype but also in real revenue. While reasonable people can debate definitions and overall market sizes, one thing is clear – Big Data is a large and fast growing market. For IT practitioners it means investigating ways in which you can monetize data sources at your organizations and obtaining the skills necessary to achieve that objective. For the vendor community it means you need to have a story around Big Data that is credible with a roadmap that offers clear business value and flexibility to move with this fast-growing space.”

It is very hard to top the significance of that last paragraph. To this observer, it is clear that we will see continued reports espousing the market explosion of data technologies in this space, but even more significantly, we will witness increasing mainstream discussion and statistics to follow that focus on the tangible financial benefits and widespread adoption.


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