Investments in technologies such as Hadoop and NoSQL will underpin much of the growth in the big data analytics market in the coming years, with non-relational solutions set to increase at around twice the rate of the sector as a whole.
This is according to a new report from Forrester Research, which found that over the next five years, big data will grow at a rate of around 13 per cent a year. However, NoSQL is set for a compound annual growth rate of 25 per cent over the period between 2016 and 2021, while the projected figure for Hadoop is 32.9 per cent.
It also noted that this year, some 30 per cent of organisations have implemented Hadoop, up from 26 per cent in 2015. Meanwhile, 41 per cent of professionals stated they had already implemented NoSQL or were expensing its use.
A further 20 per cent expect to undertake a NoSQL deployment in the next year. The report observed this is proving to be particularly useful for applications such as ecommerce and graph data databases, while open source options can help companies reduce the cost of their big data initiatives.
Analyst at Forrester and author of the report Jennifer Adams said: "Five years ago, big data was still a buzzword, but today, it's a standard business practice."
She added one of the key reasons for Hadoop's robust forecast is its ability to run data-intensive applications that legacy solutions would be unable to handle.
Chief Analytics Officer Europe
15% off with code 7WDCAO17
Chief Analytics Officer Spring 2017
15% off with code MP15
Big Data and Analytics for Healthcare Philadelphia
$200 off with code DATA200
10% off with code 7WDATASMX
Data Science Congress 2017
20% off with code 7wdata_DSC2017