The number of companies that are turning to cloud computing solutions to handle their Hadoop deployments is set to shoot up in the coming years as interest in the solution grows.
This is according to new figures from Allied Market Research (AMR), which estimated the Hadoop-as-a-Service (HaaS) sector is expected to reach $16.1 billion by 2020. This will mean a compound annual growth rate of 70.8 per cent between 2014 and the end of the decade.
AMR noted that this technology offers several advantages over traditional on-premises deployments of Hadoop. Among the major factors driving adoption are low upfront costs and a less technical interface that makes the technology easier to get started with.
As many businesses are still struggling to secure the necessary data science skills to make their big data analytics programmes a success, the simpler offerings and high level of support on offer in the cloud mean this sector will become the first choice for many new initiatives.
"HaaS adds flow to business operations as providers take sole responsibility of running and managing Hadoop jobs. SMEs, social media firms, SaaS providers and gaming companies are largely contributing to HaaS revenue, and the growing demand for HaaS by these business entities is further fuelling the market," AMR added.
This will see HaaS solutions become a major challenger to on-premises Hadoop deployments in the next few years, with the growth of this sector set to significantly outpace that of more traditional solutions. AMR added that in the longer-term, optimistic forecasts suggest the HaaS market will remain bullish throughout the 2020-2025 period.
However, the market is not without its difficulties. AMR highlighted worries over security and a lack of awareness among end-users and potential hindrances to the growth of HaaS – though it added these are likely to ease in the coming years as familiarity with the technology grows.
"Persisting security concerns are anticipated to die down to an extent due to the adoption of private clouds and high security cloud storages," the research firm stated.