GITNUX MARKETDATA REPORT 2024

Data Modernization Industry Statistics

In the data modernization industry, the global market is expected to grow significantly in the coming years with a high demand for advanced analytics and cloud-based solutions.

Statistic 1

"The global digital transformation market size is expected to grow from $469.8 billion in 2020 to $1009.8 billion by 2025, at a Compound Annual Growth Rate (CAGR) of 16.5% during the forecast period."

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Statistic 2

"82% of enterprises are prioritizing analytics and BI as part of their budgets."

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Statistic 3

"By 2025, IDC predicts worldwide data will grow 61% to 175 zettabytes."

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Statistic 4

"According to B2B software industry statistics, 65% of all businesses plan to increase their data and analytics spending slightly or significantly in 2020."

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Statistic 5

"In 2020, 41.6% of companies used data analytics to make informed R&D decisions."

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Statistic 6

"Organizations able to analyze all relevant data and deliver actionable information will achieve an extra $430 billion in productivity benefits over their less-analytically minded peers by 2020."

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Statistic 7

"More than 60% of businesses said they could not manage their data due to its sheer volume, according to a survey conducted by Oracle."

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Statistic 8

"Companies that incorporated big data into their operations reported a profit increase of 8-10%, and a 10% reduction in overall cost, according to a study by BARC."

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Statistic 9

"More than 150 ZB (zettabytes) of data will need analysis by 2025."

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Statistic 10

"56% of businesses need better data integration to better support projects."

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Statistic 11

"On average, businesses are using only half of their structured data for insights."

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Statistic 12

"Only 31% of businesses think they’re using AI successfully for data analysis."

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Statistic 13

"The global data warehouse market is estimated to expand at a CAGR of approximately 8.3% over the forecast period 2020-2027 to reach a market size of US$30.23 billion by 2027."

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Statistic 14

"Only 37% of businesses have been successful in data-driven initiatives."

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Statistic 15

"The global big data and business analytics market was valued at $193.14 billion in 2019, and is expected to reach $420.98 billion by 2027, growing at a CAGR of 10.9% from 2020 to 2027."

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Statistic 16

"By 2020, IDC predicts that the amount of data relevant to enterprises for analysis will increase 50x."

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Statistic 17

"In 2020, each person generated 1.7 megabytes per second of data and 2020 is expecting 44 zettabytes of data."

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