The Hadoop market worldwide is undergoing immense growth and is showing no signs of slowing down. Hadoop is an open-source tool that processes Big Data. It is cost-effective and scalable. It has now become a vital addition to the commercially available Big Data solutions. No wonder it has become the de-facto standard for handling Big data!
Are you an IT professional who wants to know whether this Big Data tool is a fad or is it here to stay? Here are the top six reasons why a career in this field has never been a better choice!
1. A Skyrocketing Market
This market is growing at an incredible rate. This is due to its cost-effectiveness and speedy implementations. Sectors such as transportation, BSFI (i.e. Banking Financial Services & Insurance), and retail already use it. It is increasingly being adopted by other industries too.
As per the Transparency Market Research’s report on Hadoop Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023, the market was said to be worth USD $4 billion in 2014. It also suggests that the market is likely to grow to $38 billion by 2023 at an annual growth rate of 28% from 2015 to 2023.
Software, hardware, and service drives this growth in the global market. While software is the largest sector in the overall market revenue, the service segment is a major contributor too.
2. Increasing adoption
North America, which houses a majority of technology-related vendors, leads the Hadoop market in revenue. According to World Hadoop Market – Opportunities and Forecasts (2014 -202), North America recorded 52% of the overall Hadoop revenues in 2015 owing to higher adoption rates in IT, Banking, and Government. However, Asia-Pacific (due to its large IT industry base) will witness the fastest growth rate from 2015 to 2023.
With higher adoption in telecommunication, media and retail sectors, the number of Hadoop users and other Hadoop-based Big Data technologies will surge even further. This growth will continue as more and more companies move to adopting this tool.
A recent survey by Syncsort sheds light on the current interest in its implementation. The graph shows why firms are using it.
More than 50% of the respondents see this as a tool to revolutionize data. Big companies such as Facebook, Microsoft, Yahoo, IBM, Cloudera, Amazon, Intel, MapR, etc. continue to use it. They are keen on using this because of its ability to handle and retrieve vast amounts of data, even with hardware failure.
3. Progressive & Maturing Technology
Over the last few years, Hadoop has taken the world of Big data by storm. But is it reaching its peak or has it just begun?
AtScale (founded by Hadoop and BI experts), partnered with Cloudera, HortonWorks, MapR and Tableau to create the industry’s first worldwide Hadoop Maturity Survey. The survey came up with an insightful report based on responses from thousands of participants.
According to the survey, adoption is rapidly gaining momentum and best practices and standards are emerging. Some of the key findings from the report are:
- 94% of the respondents feel positive about their ability to get more value from it.
- 49% of the respondents are already benefiting from it.
- Almost 50% of the respondents who haven’t used it yet believe that they will be using it in the next 12 months.
4. Shortage of Skilled Professionals
Today, Hadoop talent is scarce. There is a need for professionals to understand and to be able to work with multiple variables (i.e. data management, distributed computing, parallel processing, software engineering, etc.). It takes time to learn them. As a result, there is a significant gap between the growing demand for its usage and the expertise that is available.
5. High Salaries for Hadoop Professionals
As a limited number of people have Hadoop skills, employers are ready to offer higher pay. As per Indeed, a popular job portal, the mean annual salary for a Hadoop-skilled employee in the US is $112,000. This is 95% higher than the average salaries for all other job postings.
6. Huge Job Opportunities!
The big data revolution is creating more and more jobs in this space too. With IoT (i.e. Internet of Things) becoming more and more dominant, the demand for Hadoop skills is bound to increase even more.
Constant advancement in Hadoop technologies and a rise in investments would ensure greater opportunities in the upcoming years. Companies hiring such professionals are looking for various roles. Some of them are as follows:
To Sum It Up
Surely, the explosion of Big Data has generated huge job opportunities. Therefore, Hadoop continues to be one of the top Big Data skills which is in demand. Thus, we can say that this is here to stay with rapid growth still being ahead.
So, are you equipped with Hadoop skills to take advantage of this trend?