Information is power. But only in so far as the insights they reveal. The 2.5 quintillion bytes of data we create every day is useless unless we crunch it using big data analytics. This is where things get exciting for businesses as we can now predict market behavior with laser-focus accuracy at a personal level. We know data will only get bigger and tech more sophisticated as the months—not years—roll in. You either get up to speed with big data statistics or run the risk of living under a rock.
Here then, is our big data report 2019, comprising the key big data statistics and trends to keep you afloat and relevant in the years ahead, all culled from various big data market research labs all over the world.
1. State of Industry Statistics
While the big data market size and market share only indicate numbers by the billions, their total effect on the global economy easily ranges in the trillions. The path to growth is open in all directions, and market forecasts and industry projections easily confirm where big data is heading—spearheaded by its twin, business analytics, and the best business intelligence software applications that it spawns.
- $189.1 billion – projected worldwide revenues for big data and business analytics (BDA) solutions for 2019 (IDC)
- 12% – the rate of increase for big data and business analytics use from 2018 to 2019 (IDC)
- $274.3 billion – projected worldwide revenues for big data and business analytics (BDA) solutions by 2022 (IDC)
- 13.2% – projected compound annual growth rate (CAGR) of BDA within the five-year period, 2018-2022 (IDC)
- $77 billion – projected big data market size by 2023 (Entrepreneur)
- $103 billion – projected value of the big data analytics market by 2023 (TechJury)
- 20% – projected growth rate of the big data market in 2019 (TechJury)
Drivers of Big Data Growth
Big data exponentially grows with the increasing use of more powerful technologies. This is more so as businesses and institutions pursue competitiveness in all matters digital.
- Digital transformation is a key driver of BDA growth (IDC)
- In terms of big data market share, IT services will have the largest category of the BDA market in 2019 ($77.5 billion), followed by hardware purchases ($23.7 billion), and business services ($20.7 billion). Combined, IT and business services will account for more than half of all BDA revenues throughout the forecast and will be among the categories with the fastest growth. (IDC)
- In terms of deployment, on-premises solutions will take more than 70% of BDA software revenues in 2019. However, revenue for BDA software delivered via the public cloud will experience remarkable growth over the five-year forecast (32.3% CAGR). This represents more than 44% of the total BDA software opportunity in 2022. (IDC)
2. Big Data Cost & Benefits Statistics
Cutting-edge customer service software can already work through massive amounts of data to profile customer needs and behavior. This helps agents engage with customers better and add more value to overall customer experience. CRM solutions deal with its own data sets to improve the profiles of both leads and customers. The leading marketing software can gather crucial information about leads and customers, allowing marketers to increase their sales leads and conversion. These and other examples show how big data address business challenges from multiple fronts.
Benefits of Big Data
- Using big data, Netflix saves $1 billion per year on customer retention (TechJury)
- $1 trillion – the amount businesses will save from IoT by 2020 (Grazziti)
- $40 billion – the projected financial impact of AI by 2025 (Tractica)
- 8–10% – profit increase for businesses that use big data. (Entrepreneur)
- Data wrapped in stories are 22x more memorable than bare facts (Chicago Analytics Group)
- 70% of businesses believe that data warehouse optimization is critical to their success (Forbes)
- Data analytics top 4 benefits: 25% faster innovation cycles; 17% improved business efficiencies/higher productivity; 13% more effective R&D; and 12% product/service (Chicago Analytics Group)
The Cost of Big Data
- $3.1 trillion a year – the cost of poor data quality to the US economy (IBM)
- 91% of companies feel poor data wastes revenue. (Chicago Analytics Group)
- 79% of enterprise executives who say that not embracing big data will cause them to risk competitive position and face extinction (Forbes)
- 83% of enterprise executives who are pursuing big data projects to gain a competitive advantage. (Forbes)
- 10% – reduction in overall cost for businesses that use big data (Entrepreneur)
Data Analytics Top 4 Benefits 2019
Faster innovation cycles: %
Faster innovation cycles%
Data Analytics Top 4 Benefits 2019
Improved business efficiencies: %
Improved business efficiencies%
Data Analytics Top 4 Benefits 2019
More effective R&D: %
More effective R&D%
Data Analytics Top 4 Benefits 2019
Source: Chicago Analytics Group Designed by
Most Popular Business Intelligence Software
- Sisense is a business intelligence software that provides enterprise-grade analytics. Perfect for data engineers, developer, and analysts, it has white-labeled BI apps and interactive dashboards based on industry best practices.
- Looker is a secure and governed platform that offers smarter data experiences. It leverages a multi-cloud strategy to support multiple data sources.
- Periscope Data is a business intelligence and data visualization platform that provides modern businesses with valuable analytics insights. Using SQL, Python, and R, it easily explores and analyzes data.
- ReportPlus is a self-service business intelligence tool assisting businesses to make data-driven business decisions. It lets you create, view, and share data visualizations.
- QlikView is an end-to-end data integration and analytics platform that leverages machine intelligence for smarter insights. It collects data from any location and provides you with analysis-ready discoveries.
3. Big Data Global Penetration Statistics
Nothing keeps big data statistics analysis churning in any part of the world like social media and mobile devices. With these, billions of users and thousands of businesses interact daily to produce a staggering amount of data. Only the best-designed data mining and business intelligence could hope to process these. Add to that the myriad social media management tools diving into the data pool and you see data is truly fueling businesses, now and for years to come.
- Every day, we produce 2,500,000,000,000,000 bytes of data. That’s 2.5 quintillion or 2.5×1018 bytes of data (2.3 trillion gigabytes) (IBM)
- 40 zettabytes (43 trillion gigabytes) of data will be created by 2020, up 300% from 2015 (IBM)
- 90% of the total amount of all data ever made on Earth was produced by humans in the last two years alone. (Forbes)
- 1.7 megabytes – new information created every second by every human being (Grazziti)
- 6 hours and 42 minutes is the average number of hours per day users spend on the internet (The Next Web)
- 1.2 billion years – number of years humanity will collectively spend online in 2019 (The Next Web)
- 44 zettabytes (44 trillion gigabytes) – the volume of global IT traffic projected by 2020 (Grazziti)
- 50 billion – number of smart connected devices in the world by 2020, collecting, analyzing, and sharing data. (Cisco)
The Dead Figures in Big Data
How does big data figure in big data accounting? Many die while their social accounts remain active. Multiply that by the years ahead, and you get the picture. Of course, that does not take away from how many of the current world population make it into the big data numbers.
- 181 million – number of years it would take an individual to download all the data from the internet (PhysOrg)
- 50 years from now – when the dead may outnumber the living on Facebook (PhysOrg)
- 7.697 billion global population (urbanization 56%) (We Are Social)
- 5.110 billion unique mobile users (66% penetration) (We Are Social)
- 4.437 billion Internet users (58% penetration) (We Are Social)
- 3.499 active social media users (45% penetration) (We Are Social)
- 3.429 mobile social media users (45% penetration) (We Are Social)
4. Big Data Business Application Statistics
US companies are storing big data at a mind-boggling rate. However, data is almost evenly split between structured and unstructured/semi-structured data. That means there is a lot of work ahead for vendors and their clients to fully maximize big data. And they may be falling behind the race as we see even faster big data traction. These are all thanks to technologies like cloud computing, augmented reality (AR) and artificial intelligence (AI).
- 100 terabytes – volume of data stored by most US companies. For perspective, a year of it is enough to fill ten thousand Libraries of Congress. (IBM)
- 1 terabyte of trade information – average volume of data captured by the New York Stock Exchange each trading session (IBM)
- 45% – the percentage of companies that run big data workloads in the cloud. (ZDNet)
- 100 sensors – average number of sensors used by modern cars to monitor items such as fuel level and tire pressure (IBM)
- 51% of data is structured, 27% of data is unstructured, and 21% of data is semi-structured (Tata Consultancy Services)
How big data will look for companies and employees
- 30% of web browsing will be done without a screen by 2020 (Grazziti)
- 220 million – number of connected cars by 2020 (Grazziti)
- 100 million consumers will shop via AR by 2020 (Grazziti)
- 1 billion – number of global workers whose behavior will be altered by algorithms (Grazziti)
- 40% of employees can cut their healthcare costs by wearing fitness trackers (Grazziti)
- $9 billion – data investments in the financial services industry in 2018 alone. (researchandmarkets)
- 97.2% of organizations are investing in big data and AI (TechJury)
- By 2020, the customer will manage 85% of relationships with an enterprise without interacting with a human. (Chicago Analytics Group)
- By 2020, self-service spending on data tools will grow 2.5x higher than traditional data tools spending. (Chicago Analytics Group)
- In 2019, there are 2.3 billion active Facebook users, and they generate a lot of data (TechJury)
Companies still need to address big data challenges
Source: iView Systems, 2016 Designed by
Let big data work for you
Big data brings a long list of statistics, as this article clearly shows. If your business works with massive volumes of data, a compilation like this sets you in the right direction to steer your business for many years ahead. Hidden in the vast array of data lying in your databases are information that you could use to your advantage.
It could be about discovering a new line of products or services with a ready market that no one has even heard of. It could be about a new way of doing things, and you just need to gather the right people to see it implemented in your organization.
No matter what it is, it simply reinforces the need for vigilance when it comes to thinking about how data could alter the course of your business. With the right business and productivity tools, you put yourself in the right place and the right time to get ahead of the pack.