GITNUX MARKETDATA REPORT 2024

Must-Know Bid Data Statistics [Recent Analysis]

Highlights: The Most Important Bid Data Statistics

  • In 2020, the amount of data created, captured, and consumed globally rose to 59 zettabytes (ZB).
  • The global big data and business analytics industry is expected to grow to $274.3 billion by 2022.
  • The worldwide big data technology and services market will grow to $125.59 billion by 2027.
  • It is estimated that 1.7 MB of data is created every second for every person on the planet.
  • Roughly 45% of companies globally are already using big data analytics.
  • By 2025, the number of connected devices worldwide is expected to reach 75 billion.
  • 65% of organizations have adopted big data analytics as a part of their digital transformation.
  • 63% of companies believe that big data implementation can help them outperform competitors.
  • The healthcare industry is expected to invest $410.9 billion in big data analytics by 2021.
  • 94% of big data projects fail to move into production, mainly due to lack of expertise.
  • The global market for big data hardware, software, and services is predicted to grow at a CAGR of 10.48% between 2020 and 2027.
  • By 2025, the global big data security market is set to reach $30.23 billion.
  • Global demand for big data professionals is projected to surge, with 11.5 million jobs expected to be created by 2026.
  • 77% of companies believe that big data has the potential to significantly transform their industry.

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The world of big data is rapidly evolving, and the statistics surrounding it are staggering. By 2025, the global big data market is expected to reach USD 116 billion. In 2020 alone, 59 zettabytes (ZB) of data were created globally – 90% of which was generated in just two years. The worldwide big data technology and services market will grow to $125.59 billion by 2027 while 1.7 MB of new information is created every second for each person on Earth.

Organizations around the globe have already adopted big data analytics as part of their digital transformation strategies; 45% are currently using them with 65% believing that implementation can help outperform competitors in their industry sector. Big Data investments continue to rise across all industries: healthcare ($410.9 billion), retail ($901 million), Hadoop ($84-6billion). However, 94% fail due to lack expertise or resources needed for successful deployment into production environments..

These facts demonstrate how important it has become for companies everywhere to understand and leverage this powerful tool if they want a competitive edge over others in their field – 77 percent believe that Big Data has potentials significantly transform entire industries. As we move forward into 2021 and beyond, these figures only serve as further proof that businesses must stay ahead when it comes understanding what’s happening within our ever-changing technological landscape so they don’t get left behind

The Most Important Statistics
In 2020, the amount of data created, captured, and consumed globally rose to 59 zettabytes (ZB).

This statistic is a testament to the sheer magnitude of data that is being generated, collected, and utilized around the world. It is a clear indication of the ever-growing importance of Big Data and its potential to revolutionize the way we interact with the world. This statistic is a powerful reminder of the need to invest in the infrastructure and technology necessary to make the most of this data.

The global big data and business analytics industry is expected to grow to $274.3 billion by 2022.

This statistic is a testament to the immense potential of big data and business analytics, indicating that the industry is set to experience tremendous growth in the coming years. It is a clear indication that businesses are recognizing the value of leveraging data to gain insights and make informed decisions. As such, this statistic is an important one to consider when discussing the impact of big data on the business world.

Bid Data Statistics Overview

The worldwide big data technology and services market will grow to $125.59 billion by 2027.

This statistic is a testament to the immense potential of Big Data technology and services. It shows that the market is expected to grow exponentially over the next few years, indicating that Big Data is becoming increasingly important in the modern world. This is an important point to consider when discussing the impact of Big Data on our lives and businesses.

It is estimated that 1.7 MB of data is created every second for every person on the planet.

This statistic is a testament to the sheer volume of data that is being generated on a daily basis. It is a reminder of the sheer magnitude of the Big Data phenomenon and how it is impacting our lives. It is a reminder of the need to be able to effectively manage and analyze this data in order to gain insights and make informed decisions. It is a reminder of the importance of Big Data in our lives and how it can be used to improve our lives and the world around us.

Roughly 45% of companies globally are already using big data analytics.

This statistic is a testament to the growing prevalence of big data analytics in the business world. It shows that a significant portion of companies have already adopted this technology, indicating that it is becoming increasingly important for businesses to stay competitive. Furthermore, this statistic highlights the potential of big data analytics to help companies gain valuable insights and make better decisions.

By 2025, the number of connected devices worldwide is expected to reach 75 billion.

This statistic is a testament to the sheer magnitude of data that will be generated in the near future. With 75 billion connected devices, the potential for Big Data to be used to gain insights and make decisions is immense. This statistic serves as a reminder of the importance of Big Data and its potential to revolutionize the way we live and work.

65% of organizations have adopted big data analytics as a part of their digital transformation.

This statistic is a testament to the power of big data analytics in driving digital transformation. It shows that a majority of organizations have embraced the technology and are leveraging it to gain a competitive edge. This statistic is a clear indication that big data analytics is here to stay and is becoming an increasingly important part of the digital transformation process.

63% of companies believe that big data implementation can help them outperform competitors.

This statistic is a testament to the power of big data implementation. It shows that the majority of companies recognize the potential of big data to give them an edge over their competitors. This statistic is a great starting point for a blog post about big data statistics, as it demonstrates the importance of big data in the business world.

The healthcare industry is expected to invest $410.9 billion in big data analytics by 2021.

This statistic is a testament to the immense potential of big data analytics in the healthcare industry. It shows that healthcare providers are recognizing the value of leveraging big data to improve patient care, reduce costs, and increase efficiency. As such, it serves as a reminder of the importance of staying up-to-date on the latest big data statistics and trends in order to remain competitive in the healthcare industry.

94% of big data projects fail to move into production, mainly due to lack of expertise.

This statistic is a stark reminder of the importance of having the right expertise when it comes to Big Data projects. It highlights the need for organizations to invest in the right personnel and resources to ensure successful implementation of Big Data initiatives. It also serves as a warning to those who may be tempted to take on Big Data projects without the necessary expertise, as the chances of failure are high.

The global market for big data hardware, software, and services is predicted to grow at a CAGR of 10.48% between 2020 and 2027.

This statistic is a testament to the increasing importance of Big Data in the modern world. As the global market for Big Data hardware, software, and services is expected to grow at a CAGR of 10.48% between 2020 and 2027, it is clear that businesses and organizations are recognizing the potential of Big Data and investing in the technology to gain a competitive edge. This statistic is a valuable insight into the current state of Big Data and its future prospects.

By 2025, the global big data security market is set to reach $30.23 billion.

This statistic is a testament to the growing importance of big data security in the modern world. As the global big data security market continues to expand, it is clear that businesses and organizations are recognizing the need to protect their data and ensure its security. This statistic is a sign of the times, and a reminder that big data security is an increasingly important part of our lives.

Global demand for big data professionals is projected to surge, with 11.5 million jobs expected to be created by 2026.

This statistic is a powerful indicator of the potential for growth in the Big Data industry. With 11.5 million jobs expected to be created in the next five years, it is clear that Big Data is a field with immense potential for those looking to enter the workforce. This statistic is a testament to the fact that Big Data is an industry that is here to stay and is only going to continue to grow in the years to come.

77% of companies believe that big data has the potential to significantly transform their industry.

This statistic is a powerful indicator of the potential of big data to revolutionize industries. It shows that the majority of companies recognize the potential of big data to revolutionize their industry, and are willing to invest in it. This statistic is a testament to the power of big data and its ability to revolutionize the way businesses operate. It is a clear sign that big data is here to stay and will continue to shape the future of many industries.

Conclusion

The statistics presented in this blog post demonstrate the immense potential of big data and its applications across various industries. By 2025, the global market for big data is expected to reach USD 116 billion, with an estimated 1.7 MB of data created every second for each person on Earth. The healthcare industry alone will invest $410.9 billion in big data analytics by 2021 while retail companies are projected to spend around $9.01 billion by 2024 – a testament to how much businesses value the insights that can be gained from analyzing large datasets. Furthermore, 53% of organizations globally have already adopted big data analytics as part of their digital transformation efforts and 77% believe it has the potential to significantly transform their respective industries over time. With such promising figures at hand, it’s clear that investing in Big Data technology now could pay off handsomely down the line.

References

0. – https://www.zdnet.com

1. – https://www.forbes.com

2. – https://www.newgenapps.com

3. – https://www.capgemini.com

4. – https://www.researchandmarkets.com

5. – https://www.iresearchservices.com

6. – https://www.marketresearch.com

7. – https://www.statista.com

8. – https://www.domo.com

9. – https://www.globenewswire.com

10. – https://www.datapine.com

FAQs

What is Big Data?

Big Data refers to extremely large datasets that are challenging to store, process, analyze, and visualize using traditional data management tools. They often come from diverse sources, include various data types (structured, unstructured, semi-structured), and require advanced technologies and algorithms to extract meaningful insights.

What are the main characteristics of Big Data, often known as the 5 Vs?

The 5 Vs of Big Data are Volume, Variety, Velocity, Veracity, and Value. Volume signifies the massive amount of data, Variety represents different data formats, Velocity indicates the speed at which data is generated and processed, Veracity refers to the quality and reliability of data, and Value emphasizes the importance of extracting useful insights from data.

How is Big Data utilized in various industries?

Big Data plays a crucial role in diverse industries, such as healthcare, finance, retail, and manufacturing. It helps businesses make better decisions, optimize processes, enhance customer experience, detect fraud, reduce risks, and discover new opportunities through advanced data analytics techniques like machine learning and AI.

What are some common Big Data processing frameworks and tools?

Popular Big Data processing frameworks and tools include Hadoop, Spark, Flink, Hive, Pig, NoSQL databases like MongoDB and Cassandra, and data warehouses like Google BigQuery and Amazon Redshift. These tools allow users to store, process, and analyze huge amounts of data in a scalable, reliable, and efficient manner.

What are the primary challenges associated with Big Data?

The main challenges of Big Data include data storage and management, data integration and quality, data security and privacy, ensuring scalability and performance, and recruiting skilled talent. Organizations need to adopt proper infrastructure, best practices, and technologies to overcome these challenges and maximize the benefits of Big Data.

How we write our statistic reports:

We have not conducted any studies ourselves. Our article provides a summary of all the statistics and studies available at the time of writing. We are solely presenting a summary, not expressing our own opinion. We have collected all statistics within our internal database. In some cases, we use Artificial Intelligence for formulating the statistics. The articles are updated regularly.

See our Editorial Process.

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