The Hadoop market is undergoing phenomenal growth and continues to show steep growth rate. Looking at the current growth, it wouldn’t be an exaggeration to say that Hadoop is the best option that is cost-effective as well as scalable, open source substitute for commercially available Big Data management suites. Hadoop has also become a vital Big Data solution, today.
Hadoop has been steadily making a name for itself in the IT world. If this isn’t enough, here are more reasons that are irrefutable and helpful for those aspiring to become Hadoop professionals.
1.Rocketing Hadoop Market
Cost effectiveness and speedy resolutions compared to traditional solutions are just a few of the reasons behind the impressive growth of the Hadoop market. The Hadoop Market is projected to grow to a greater extent and has already influenced numerous sectors like transportation, BFSI, and retail sector.
The value of the global Hadoop market in 2012, was calculated to be $1.5 billion, and is assessed to grow at a CAGR of 58.2% during the period 2013 – 2020, reaching $50.2 billion by 2020.
According to a market research report by Transparency Market Research, the Hadoop market was worth USD $4,120.0 million in 2014 and is expected to grow to $37,759.0 million by 2023. There is an extraordinary progress of CAGR of 28.4% from 2015 to 2023.
This growth in the global Hadoop Market is based on the software, hardware, and services provided by Hadoop. The main reason for this is the increasing implementation of Hadoop and the need to build real-time applications.
Currently, North America is a leading revenue generator in the Hadoop Market. This is mainly due to the fact that a huge portion of Hadoop vendors and related technology vendors are located here. Asia Pacific comes a close second and will have the fastest growth rate during the period 2015 to 2023, because of its enormous IT industry base.
In accordance with the report ‘World Hadoop Market -Opportunities and Forecasts 2014 – 2021’ by Allied Market Research, the global Hadoop market is expected to generate $84.6 billion in revenue by 2021, at a record-breaking CAGR of 63.4% during the period 2016 – 2021.
In addition, the report ‘Global Hadoop Market Insights, Opportunity Analysis, Market Shares and Forecast (2016 –
2022)’, predicts that the Cloud providers will be looking at Hadoop as a ‘Service’. The report also predicts that Europe will observe the fastest CAGR of 65.7% during this period.
2.Increased Implementation of Hadoop
According to the report ‘World Hadoop Market -Opportunities and Forecasts (2014 -202)’, North America recorded 52% of the whole market revenue in 2015. The main reason for this is the higher rate of adoption in various sectors like IT, Banking, and Government.
With intensifying adoption in other sectors like telecommunication, media, and retail, the number of Hadoop users and other Big Data technologies related to Hadoop is only going to increase further.
A recent survey by Syncsort has given some clear reports on the current interest in the implementation of Hadoop. The below graph gives the breakdown of the reasons behind the implementation of Hadoop.
More than 50% of the respondents feel confident that Hadoop can greatly revolutionize the way we look at data. Bizarrely, only 4.9 % have shown interest in using Hadoop in advanced use cases that involve mobile apps and software.
Hadoop continues to be majorly used by big companies like Facebook, Microsoft, Yahoo, IBM, Cloudera, Amazon, Hortonworks, Intel, MapR, etc. This is because of Hadoop’s ability to handle huge volumes of data with the help of boosted storage capacity, that makes data retrieval possible in case of hardware failure.
We have been hearing about Hadoop a lot over these past few years, but do we know how far it has come in terms of maturity?
AtScale collaborated with several bigwigs like Cloudera, HortonWorks, MapR, and Tableau, to come up with the industry’s first Hadoop Maturity Survey. After looking into the responses of several thousand respondents, they have come up with an in-depth and insightful report and have published some of the key findings.
According to this report, the adoption rate is rapidly gaining momentum and the best practices and standards for accomplishing maximum value is gradually emerging. This is only happening after significant time and effort have been spent on using Hadoop. The following are the insights from this report:
94% of the respondents feel confident that they can get more value from Hadoop.
49% of the respondents are already seeing the benefits of using Hadoop.
76% of the respondents (who are existing Hadoop users), intend to use Hadoop within the next 3 months.
3% of the respondents mentioned that they might use Hadoop in minimal percentage in the next 12 months.
Almost 50% of the respondents, who are yet to use Hadoop, believe that they will be using Hadoop in the next 12 months.
4.Fewer Hadoop Skilled Professionals
Are you aware that scarcity of Hadoop skill is one of the major barrier faced during the adoption of Hadoop?
It is well know that Hadoop talent is scarce. There is a similar scarcity for SQL-on-Hadoop skills as well. Ron Bodkin of Think Big remarked that demand for Hadoop skill is rising as fast as aspirants are learning Hadoop. As a result, this is stopping the gap from being filled.
This gap of growing demand and the lack of adequate Hadoop skilled professionals can be reduced by getting the right training at the right time and gaining expertise in Hadoop. To overcome this scarcity, some Hadoop distributors have taken the initiative and are offering opportunities to qualified candidates who are eligible to learn Hadoop. MapR Technologies, Cloudera, and Hortonworks are just some of the organizations that are doing this.
Right now, the demand and scarcity of Hadoop skills are high, making it an apt time to take advantage of this trend and having the right skills will make or break your Hadoop career and steer you in the right direction.
5.Big Pay Package for Skilled Hadoop Professionals
Keeping the scarcity of Hadoop skill in mind, organizations are ready to offer bigger pay packages to those with apt skills. According to Indeed, a popular job portal, the average salary for Hadoop skill is $112,000 per annum. This is 95% higher than the average salaries for all other job postings. This says a lot about the remuneration for this particular skill.
The below image is the salary trend of Hadoop, from Indeed. It is evident that the positive trend is not a temporary phase.
The below image is the salary trend from IT Jobs UK, a job portal in the U.K. The trends indicate a steady progression as well. The current average salary for Hadoop skill happens to be 60,000 British Pounds, with 3% change year-on-year.
6.Huge Job Opportunities with Hadoop
The mounting growth of Hadoop has resulted in immense job opportunities. With the rising evolution of IoT, the demand for Hadoop skill is projected to increase like never before. With top companies focusing more on improving Hadoop features and its functions, this will lead to increased implementation of Hadoop, thereby opening doors to immense opportunities in the field of Big Data.
The below job trends from Indeed clearly explains the growing job trend for Hadoop. It is a clear indicator that Hadoop is here to stay and opportunities associated with it will not dry out in the near future.
The job trend from IT Jobs UK indicates the same positive outlook as shown by Indeed, providing equal chances for a contract-type as well as permanent employment.
Continuous advancement of the Hadoop technologies and increasing investments will ensure nonstop employment opportunities. So, be armed with Hadoop skills to make use of these opportunities.
Hadoop-Related Job Roles:
Companies hiring Hadoop professionals are looking for various roles. Some of them are as follows:
Hadoop developers (senior and junior)
Hadoop is here to stay and grow, with rapid growth still ahead. The explosion of Big Data has generated huge job opportunities and Hadoop continuous to be one of the top Big Data skills in demand. So get ready with Hadoop skills, today! Keep visiting our website Acadgild for more updates on Big Data and other technologies. Click here to learn Big Data Hadoop Development.