Updated · Jun 07, 2023
Christo knows very well how tech has revolutionized the way we live, communicate, and create value. ... | See full bio
Updated · Feb 07, 2023
In today’s piece, we’ll focus all our attention on some of the most mind-boggling big data statistics. For anyone who’s new to the concept of big data, TechJury has prepared a brief intro on the topic.
Big data refers to enormous data sets gathered from numerous sources. These data sets cannot be collected, stored, or processed using any of the existing conventional tools due to their quantity and complexity.
So, there is a variety of tools used to analyze big data - NoSQL databases, Hadoop, and Spark - to name a few. With the help of big data analytics tools, we can gather different types of data from the most versatile sources – digital media, web services, business apps, machine log data, etc.
Now, why is big data important? Once analyzed, this data helps in a multitude of ways. In healthcare, it helps avoid preventable diseases by detecting them in their early stages. It is also immensely useful in the banking sector, where it aids in recognizing illegal activities such as money laundering. Finally, in meteorology, it helps study global warming.
Alright! Now that we’ve covered the basics, let’s check out some interesting statistics about big data.
But, can data indeed be considered as the new gold? Let's find out together as we surf through some of the most impressive Big Data statistics for 2022.
So Google gets 8.5 billion daily queries, putting it at 99K searches/second!
If it seems massive, that’s because it is. However, it’s not entirely surprising, considering the tech giant dominates the market with a 91.9% share. Bing, the second most popular search engine, only garners 2.8% of the pie, while Yahoo gets 1.51%.
Don’t go anywhere—our collection of astounding big data stats for 2022 is just getting started!
(Source: Connectiva Systems)
Did you know that WhatsApp is the most popular and most downloaded messaging app worldwide?
That’s what a user base of 2 billion people gets you.
Did you also know that WhatsApp is now available in 180 countries and 60 different languages worldwide?
How about the fact that 5 million businesses are actively using the WhatsApp Business app to connect with their customers? Or the fact that there are over 1 billion WhatsApp groups worldwide?
Now you know.
That’s a lot of information creation, copying, and capturing going on in cyberspace!
2022 big data statistics report about a sudden increase in information consumption. The trend started back in 2020 when people mainly stayed at home because of pandemic restrictions. At the time, it shot up from 41 to 64.2 zettabytes in one year.
Experts predict that the almost 200 zettabytes of data will require more storage space. The repository segment will grow at 19.2% annually between 2020 and 2025.
In a digitally powered economy like ours, only those with the right form of data can successfully navigate the market, make future predictions, and adjust their business to fit market trends. Unfortunately, most of the data we generate today is unstructured, which means it comes in different forms, sizes, and even shapes. Hence, it is difficult and costly to manage and analyze, which explains why it is a big problem for most companies.
(Source: ZD Net)
According to statistics about Big Data in cloud computing, the cloud is one of the most recent technological trends that is taking the world by storm. It eliminates the need for organizations to purchase and maintain costly computing hardware, pay for hosting, and develop the software needed for the day-to-day operation of servers.
Although the cloud houses 67% of enterprise infrastructure, only a small percentage of businesses are currently utilizing it for Big Data operations.
According to Big Data facts, in today’s world, consumers want to have the same sublime experience when dealing with a brand. Regardless of the device they are using, they always expect the same quality experience.
A user can contact a company through social media using a PC, surf the company website on mobile, make a purchase using a tablet, and contact customer service via email. As such, all data are generated from the same person but come in different forms.
While some industries have gone big on Big Data, a few others are still playing small. Let us find out which industries represent some of the most prominent investors:
(Source: KR Elixir)
According to statistics about Big Data in banking, the global banking sector is already incorporating Big Data analytics into its infrastructure and is doing so quickly.
Data generated by banks worldwide can offer improved customer services, help bankers create new and personalized offers for their customers, and also help manage risks better. All these can culminate in improved performances across the global banking sector.
(Source: Globe News Wire)
So what’s the latest info on big data in healthcare? The industry is set to reach $71.6 billion in value by 2027! That makes for a 14.1% CAGR between 2022 and 2027.
(Source: Reed Smith)
No doubt, cybercriminals have no shame in their game.
They’re taking full advantage of the confusion arising from the pandemic to rip off people. Security researchers have also noticed tons of scams asking for money from desperate people in exchange for vaccines and COVID-19 cures.
The manufacturing, pharmaceutical, and healthcare industries face most targets from malware installations. The most notable download campaigns are from threat groups like TA505.
Individual users and company heads need to be aware of fake information on the internet and put up the necessary data protection measures.
Now that you know the latest data and how big data affects the industry, let's dive deeper.
Big data growth statistics reveal that data creation will be over 180 zettabytes by 2025. That was about 118.8 zettabytes more than in 2020.
The reason for the spike is that the pandemic has triggered an increase in demand for remote learning, working, and entertainment.
Storage for this data will grow at a Compound Annual Growth Rate (CAGR) of 19.2% during the forecast period. That’s a big change considering that users only stored 2% of the data in 2020.
Big data stats show that the creation, capturing, copying, and consumption of data went up by a whopping 5000% between 2010 and 2020. To be more precise, data usage increased from 1.2 trillion gigabytes to almost 60 trillion gigabytes.
The vast increase came as more companies adopted work-from-home environments. The shift had to do with the demand for richer data sets like videos during virtual meetings.
(Source: Unicorn Insights)
An interesting piece of information about big data comes from Unicorn Insights which answered the question of how long would it take to download all the data from the internet. The source used the following values: 0.55 zettabytes for all the information on the internet, and 44Mbps as the average download speed.
However, since these big data statistics have changed, we redid the calculation with 33 zettabytes of data and an average download speed of 46Mbps. The result we got was around 181.3 million years. Impressive, right?
Moreover, the latest data analytics statistics reveal that around 90% of enterprises are starting to see the value in analytics. A huge difference compared to a decade ago when organizations only analyzed 0.5% of data.
So estimates by the US Bureau of Labor point to a 31% growth come 2030. Composable analytics will be at the forefront of adoption, with 60% of organizations embracing it because of the cost reduction benefit.
70% of companies are expected to switch over the next few years. This will allow them to collect information from various sources, thus giving them more context for better decision-making.
Keep reading. It’s time for another one of our mind-blowing big data facts:
Just imagine how much data internet users can generate in a million years, let alone 1.2 billion years?
Now, before we continue, let us explain how we got to this conclusion. There are 4.39 billion internet users.
According to the latest Digital report, internet users spent 6 hours and 42 minutes on the internet which clearly illustrates rapid big data growth. So, if each of the 4.39 billion internet users spent 6 hours and 42 minutes online on a daily basis, we’ve spent 1.2 billion years online.
(Source: Global Web Index)
Before we give you some numbers on how users generate data on Facebook and Twitter, we wanted to paint a picture of general social media usage first. Global Web Index published a piece on the average number of social accounts. Comparing the number of social accounts throughout the years, we got some interesting social media big data statistics. Namely, in 2012, social media users had three social accounts on average, while that number rose to 7 today.
Apart from the rise of the multi-networking trend, the average time users spend on social media platforms also saw a significant increase. In 2012, digital users spent an hour and a half filling up their spare time on social media sites, while today, the average time they spent on social networks is at 2 hours and 24 minutes.
Lastly, the same source discovered that out of the total time digital users spend online, 33% is reserved for social media. This is no doubt a large part of why the data growth statistics are what they are today. Apart from social media, 16% of the time users spend online goes to online TV and streaming, and another 16% to music streaming. Online press takes a 13% share of total online time, whereas the remaining 22% of the time is reserved for other online activities.
Big data statistics at their finest! As of April 2022, Facebook’s daily active user base amounts to 1.96 billion people.
That’s an 82 million increase since April 2021. No doubt about it—Facebook is today’s most popular social media platform.
(Source: Internet Live Stats)
If you’re bad at math, don’t worry, we got you. That equals 10,070 tweets per second, 604,200 per minute, and 36,252,000 per hour.
All this shows massive growth in Twitter’s popularity in the last decade. Did you know that the daily number of tweets in 2007 was just 5,000?
(Source: New Vantage)
New Vantage published its Executives Survey with a primary focus on big data and artificial intelligence. The study recorded the executives’ answers from approximately 60 Fortune 1000 companies including Motorola, American Express, NASDAQ, etc.
Aside from indicating a strong presence of big data in leading companies, the New Vantage study also answered the question: How much do companies spend on data analytics? So, here’s what we’ve learned.
62.5% of participants said their organization appointed a Chief Data Officer (CDO), which indicates a fivefold increase since 2012 (12%). Additionally, a record number of organizations participating in the study have invested in big data and artificial intelligence initiatives at 97.2%.
The highest percentage of organizations (60.3%) invested under $50 million. Nearly one-third of participants (27%) said their companies’ cumulative investments in big data and AI fall into the range between $50 million and $550 million. Lastly, only 12.7% of participants said their companies invested more than $500 million.
So, is big data the future? If we focus on the big data investments from companies such as Goldman Sachs, IBM, and Bank of America, we could answer this question with a “yes.”
(Source: Statista, Inside Big Data)
Today, many companies use big data to expand and enhance their businesses, and one of the most popular video streaming services - Netflix, is a perfect example of that. The digital users’ favorite streaming service, Netflix had more than 180 million subscribers in 2020.
Now, the California-based company can help us answer the question: what are the benefits of big data? Well, one of the benefits of using big data in streaming services is customer retention as a result of lower subscription cancelation rates. Netflix has a strategy to tie its audience to their seats, and big data is a big part of that strategy.
Some of the information Netflix collects includes searches, ratings, re-watched programs, and so on. This data helps Netflix provide its users with personalized recommendations, show videos similar to the ones they’ve already watched, or suggest various titles from a specific genre. Plus, we have to admit that the company’s “Continue Watching” feature improves the user experience a lot.
While going through various big data statistics, we discovered that back in 2009 Netflix invested $1 million in enhancing its recommendation algorithm. What’s even more interesting is that the company’s budget for technology and development stood at $651 million in 2015. In 2018, the budget reached $1.3 billion.
As for the $1 billion in savings from customer retention, this was just a rough estimate Carlos Uribe-Gomez and Neil Hunt made in 2016. We believe that number is significantly higher now, as, among other reasons, Netflix spent over $12 billion on content in 2018, and that number reached $17 billion in 2020.
We’ve already covered how Netflix benefited from big data, but that’s only the beginning. Big data found its place in various industries as it helps detect patterns, consumer trends, and enhance decision making, among other things. So, the question is how much is the big data industry worth, and what can we expect in the next couple of years?
According to Wikibon, the big data analytics market (BDA) is expected to reach $49 billion with a compounded annual growth rate (CAGR) of 11%. by 2025 So, each year, the market will gain $7 billion in value. As a result of this forecast, the BDA market should reach $103 billion by the end of the prediction period.
(Source: Market Data Forecast)
Big data growth statistics for 2022 keep pointing to a raging success for the industry! The global market size is expected to reach $268.4 billion by 2026 at a 12% CAGR (compound annual growth rate) for the said period.
It looks like companies are taking advantage of big data now more than ever. Why is that? Because it helps immensely with improving their operational efficiency, which in turn leads to a better balance between speed, flexibility, and cost.
(Source: The Economic Times)
As businesses continue to see big data’s immense value, 96% will look to employ (more) specialists in the field.
The current data growth statistics give us even more valuable info: AI Machine Leaning in India is set to grow at over 33% CAGR by 2023. What’s more, by the end of 2025, the country is expected to be the third-largest market in the world.
The software segment will take up 45% of the revenue share by 2027. On the other hand, hardware will contribute about 23% of the income. The remaining 32% are left for services.
Most businesses no longer put big data on the back burner as they now consider it a necessity. It’s become an enormous factor capable of influencing smart decisions, especially when starting new projects.
26. Internet users spend 40% of their time online.
(Source: Data Reportal, Statista)
The average person sleeps for about 8 hours. That leaves about 16 hours of awake time. What do users do with that time? Well, almost half is spent online.
Do you know that in 2022, global internet users will spend 12.5 trillion hours online?
That’s not all:
Our data growth statistics reveal that the time spent on the internet has risen by about 1% compared to Q3 2021.
Let us have a look at some statistics on Big Data trends to find out what the future holds:
Every second, all over the world, there are 127 new devices connected to the internet. These connected devices produce 5 quintillion bytes of data daily, which could amount to 79.4 Zettabytes of data by 2025.
IoT devices perform various functions, depending on what they are designed for and the kind of information they are meant to collect. From fitness devices, down to sensors, security systems, the IoT helps industries enhance their functionality and increase their market reach.
(Source: Business Wire)
According to statistics about Big Data in business, digital transformation and technological advancements remain the chief pioneers of increased Big Data spending. With so much competition in every industry, businesses need to constantly innovate to stay relevant in the marketplace.
Big Data analytics provide just the right amount of information that industry experts need to make informed decisions. These decisions can move a business forward by accurately identifying a market trend that can potentially improve business revenue.
As at the end of 2019, worldwide spending on Big Data was already worth $180 billion, and it was projected to grow at a CAGR of 13.2% between 2020 and 2022. Reports have it that IT purchases, hardware purchases, and business services could receive the highest spending on Big Data analytics.
That ratio was 1:9 in 2020.
COVID-19 has made it harder to create new unique data. However, the global data sphere will experience growth from copying and consumption in the coming years. By 2024, it will increase by a Compound Annual Growth Rate of 26%.
(Source: Towards Data Science)
The 2022 technology predictions show that jobs in the data science field will increase by nearly 30% by 2026. That’s 11.5 million new jobs! The new roles will close the gap on the low supply of professionals in a sector where demand is high.
Big Data is and will continue to be a force to be reckoned with in this digital age. Big brands and industry experts know this. Business leaders who tap into its many benefits will remain ahead of their competitors in the long run. Don’t hesitate, act!
Christo knows very well how tech has revolutionized the way we live, communicate, and create value. TechJury is his way to help users find detailed, unbiased information about all aspects of technology, the glorious opportunities it presents, the threats it poses, and the ways to stay safe in the modern world.
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