Big Data are large sets of Data or information collected through a wide range of sources that can’t be dealt with using traditional data processing application software. Today, most people across the world have access to the Internet.
Every moment you spend online performing a Google search, writing a customer review, watching a YouTube video, or posting any photo or video on a social media platform generates new data.
These data are collected by businesses and companies for customer information, track inventory, manage human resources, and more. In this article, we are going to take an in-depth look at Big Data Statistics, its growth, market size, industry impact, and more.
Big data growth statistics: How much data do we create?
Data is everywhere and we create data every time we perform a Google search online, and every time we post a photo or video on Instagram, TikTok, etc. From smartphones to connected cars, the (IoT) has completely transformed the Data world. The large amount of volume and variety of data coming from excellent velocity is considered Big Data.
Let’s take a look at the statistics of Big Data and how much data is created.
- An average internet user generates around 1.7 megabytes (MB) of data per second.
- There are 94 zettabytes of data as of 2022
- Around 97.2% of businesses are investing or engaging in Artificial intelligence and Big Data.
- An average company usually analyzes around 37-40% of their data.
- Big Data solutions are utilized by companies to increase their profits by an average of 8%.
- The Global Big Data market value is more than $56 billion by annual revenue.
- Around 80% of companies and businesses estimate that 50% to 90% of their data is unstructured.
- By the end of 2023, around two-thirds of the world’s population will be using the internet.
Market Size of Big Data Industry
The Global Big Data market size is expected to grow to $90 billion U.S. dollars by 2025 and $103 billion U.S. dollars by 2027.
Big Data User Statistics
Internet Users play a huge role in the generation of Big Data. Whether it be accessing a social media tool, sending emails, writing a customer review, or more Big Data is highly influenced by users. Let’s take a look at the statistics of Big Data Users and how it impacts the Big Data industry:
- Around 57% of the world’s population utilizes the Internet
Out of 8 billion, more than 4 billion people spent time online in 2019. Apparently, 67% of people use smartphones, while an average of 45% of users are available on at least one social media platform.
- About 70% of the world’s data is generated by users itself
A person using their social media account or posting a customer review, sending out an email, etc all plays a crucial role in generating data. Resulting in the majority part of the Big Data being generated by the user itself. More than 900 exabytes are user-generated data.
- Over 100,000 Google searches take place every second
Google is one of the highest search engine platforms with an impressive 91.9% share in the Global search market. Apparently, more than 6 million searches take place worldwide every minute with the hourly searches reaching 350 million.
- An Average internet user spends around 6 hours and 58 minutes online every day
The Internet has become an addiction in today’s world. Especially with such a high range of apps, devices, and platforms being accessible.
- 80% to 90% of the Digital Data are Unstructured Data
Unstructured Data are basically those data that aren’t aligned or stored in proper formats or traditional databases. This includes text messages, emails, videos, posts, and much more. However, this data contains essential analytics and insights which are highly important for companies and businesses to gain a competitive edge.
Big Data Statistics Industry-Specifics
Big Data is extensively used in almost every industry whether it be Healthcare, Media & Entertainment, manufacturing, or Education. Let’s take a look at Big Data’s impact based on specific industries:
The Global Big Data in Manufacturing is expected to reach 9.11 billion U.S Dollars by 2026
Big Data is highly utilized by executives in the Manufacturing Industry. In 2018, the Global Big Data in Manufacturing Industry was 3.22 billion. By 2026, the manufacturing industry is expected to witness a huge rise in Big Data by reaching 9.11 billion, exhibiting a CAGR of 14.0% in the forecast period.
Big Data is likely to witness a rise in Supply Chain Management by surpassing around $7.1 billion by 2027 worldwide
Data analytics are highly utilized in Supply Chain Management as they help analyze numerous variables across business operations. It uses advanced analytics to help analyze various materials, products, import/export, and much more.
The overall involvement of Big Data analytics helps manage its assets better and save time and money. With the coming time, more and more companies are likely to invest in Supply chain management.
The Healthcare Market could witness a reach of $79.23 billion by 2028 in Big Data Analytics
Another major industry that highly utilizes Big Data Analytics is the Healthcare industry. It basically helps in analyzing massive datasets of various patients, looking for appropriate treatment plans, recognizing clusters, and much more. The healthcare market has generated $20.12 billion in revenue in 2021 and is expected to keep growing by an average of 28.9% every year.
1,400 Colleges are using predictive analytics to boost graduation rates
Universities with low graduation rates are now turning towards Big Data to assist in spotting trends and predicting the potential struggles faced by students using predictive analytics. Using this Big Data technique, Georgie State has boosted its graduation rates from 23% since 2003.
Streaming Service Netflix saves $1 billion through recommendation algorithms
Big Data plays a massive role in the Entertainment and Media industry and Netflix is the prime example of the impact Big Data has in today’s age. The recommendation algorithm of Netflix (through which various shows and movies get suggested to the users) has apparently influenced around 80% of the content watched on the platform worldwide. This has resulted in the platform saving $1 billion just through recommendation savings.
Around 68% of travel companies have stated they plan on engaging in business intelligence
Big Data has also been reflected in the travel industry and most travel companies are looking forward to investing in the new demands of travelers who are anticipating advanced technological needs. According to Statista, 68% of travel companies are interested in investing in predictive analytics or business intelligence by 2019.
The Big Data industry is growing every day and each second new data is being produced by users through various activities such as accessing social media platforms, customer reviews, google searches, and much more.
Apart from this, Big Data is also indulging in new developments in analytics and data processing providing more ways to make the services of businesses more accessible and help boost revenue. Above we have provided an in-depth look at Big Data Statistics involving its growth, market size, industry-specifics, and users.
For a deeper dive into the role of AI in processing large data and deriving meaningful insights, check out our article on Artificial Intelligence Statistics.