The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
2018
Source: Forbes
- 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.
- 83 percent of enterprise executives say they’ve pursued big data projects to gain a competitive advantage.
- More than 150 zettabytes (150 trillion gigabytes) of data will need analysis by 2025.
- Data warehouse optimization is considered the most important big data analytics use case, and is considered critical or very important by 70 percent of businesses.
- Only 7% of marketers surveyed report that they are currently effectively able to deliver real-time, data-driven marketing engagements across both physical and digital touchpoints.
- In a survey of approximately 700 business professionals, only 15% said their organization is currently very effective in delivering a relevant and reliable customer experience. In the same survey, only 3% of respondents said they are able to act on all of the customer data they collect; 21% say they can act on very little of it.
- The big data software market was worth $31 billion in 2018, growing 14 percent from the year before.
- 14 percent of investment professionals use credit card and POS software data to derive data.
- By 2025, IDC predicts that the total amount of digital data created worldwide will rise to 163 zettabytes, ballooned by the growing number of devices and sensors
- 61 percent of businesses that recognize the effect of data and analytics on their core business practices say their companies either have not responded to these changes or have taken only ad hoc actions rather than developing a comprehensive, long-term strategy for analytics.
