The market for Hadoop/NoSQL software and services topped $540 million in 2012 as measured by vendor revenue. Over the next five years, Wikibon forecasts this market to grow to nearly $3.5 billion, a compound annual growth rate (CAGR) of 45%. This forecast does not include related hardware revenue. This is a faster rate of growth than the Big Data market overall during this period. Demand for new approaches for processing, storing, analyzing and delivering value from Big Data is the main catalyst driving the Hadoop/NoSQL software and services market.
Providing effective business analytics tools and technologies to the enterprise is a top priority of CIOs and for good reason. Effective business analytics � from basic reporting to advanced data mining and predictive analytics � allows data analysts and business users alike to extract insights from corporate data that, when translated into action, deliver higher levels of efficiency and profitability to the enterprise.
Hadoop: Hadoop is an open source framework for processing, storing and analyzing massive amounts of distributed unstructured data. Originally created by Doug Cutting at Yahoo!, Hadoop was inspired by MapReduce, a user-defined function developed by Google in early 2000s for indexing the Web. It was designed to handle petabytes and exabytes of data distributed over multiple nodes in parallel.
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