Data And Analytics Industry Statistics

In this post, we explore key statistics shaping the data and analytics industry. From the exponential growth of big data market worldwide to the significant impact on various sectors like finance and healthcare, these statistics shed light on the increasing importance of data analysis in today’s digital landscape. Join us as we delve into the numbers driving the evolution of data and analytics.

Statistic 1

"By 2025, the big data and business analytics market is predicted to grow to $274.3 billion globally."

Statistic 2

"The financial services industry spends the most on big data and business analytics solutions."

Statistic 3

"In 2023, data analytics outsourcing market was valued at $2.49 billion globally."

Statistic 4

"Around 95% of businesses need to manage unstructured data."

Statistic 5

"Over 2.5 quintillion bytes of data are created every single day."

Statistic 6

"It is estimated that by 2020, every person will generate 1.7 megabytes in just a second."

Statistic 7

"Data scientists and analysts spend up to 80% of their time cleaning and preparing data."

Statistic 8

"North America held the largest data analytics market share of 33.8% in 2019."

Statistic 9

"The healthcare sector is predicted to advance at 17.7% CAGR in big data analytics from 2020 to 2027."

Statistic 10

"By 2023, prescriptive analytics market is projected to reach $12.35 billion."

Statistic 11

"65% of businesses report that they used big data to drive risk analysis."

Statistic 12

"Every day, we send 294 billion emails globally."

Statistic 13

"By 2027, the big data as a service market is estimated to reach $42.7 billion."

Statistic 14

"Data breaches exposed 4.1 billion records in the first half of 2019."

Statistic 15

"88% of all data is ignored by businesses."

Statistic 16

"The annual data creation will reach 175 zettabytes by 2025."

Statistic 17

"Nearly 97.2% of organizations are investing in big data and AI."

The statistics presented underscore the rapid growth and importance of data and analytics within various industries. The projected increase in the big data and business analytics market signifies a significant opportunity for businesses globally. The significance of data management and analysis is evident, with the financial services sector leading in investment expenditure. As organizations continue to invest in data analytics solutions, the need for efficient data processing and utilization becomes paramount, particularly in managing unstructured data. The healthcare sector is anticipated to experience substantial growth in big data analytics, highlighting the sector’s potential for advancement. However, the prevalence of data breaches and the challenge of effectively utilizing the vast amounts of data created daily present ongoing hurdles for businesses to address.