The market size of the Global Big Data Analytics market is estimated to be USD 11.02 Billion in 2018 and is expected to rapidly grow at a CAGR of 29.7% and is expected to reach a market size of USD 68.04 Billion in 2025.
- Definition / Scope
- Market Overview
- Market Risks
- Top Market Opportunities
- Market Drivers
- Market Restraints
- Industry Challenges
- Technology Trends
- Regulatory Trends
- Other Key Market Trends
- Market Size and Forecast
- Market Outlook
- Technology Roadmap
- Distribution Chain Analysis
- Competitive Landscape
- Competitive Factors
- Key Market Players
- Strategic Conclusion
Definition / Scope
Big data is generally termed as large and varied sets of data and examining the data for identifying customer trends and preferences, data patterns, relations for the companies to take better business decisions.
Companies use advances analytics techniques for large, and diversified data sets, allowing the researchers, analysts and business owners to make decisions based on the data that was previously inaccessible. Big data comprises of software and hardware components and the data set ranges from Megabytes to Terabytes.
A many number of companies are investing in the big data analytics, which has led banking and manufacturing industry to invest more in big data analytics majorly due to security and compliance issues. Many other industries other than banking and manufacturing are more inclined towards finding the customer experience information to better use the data for customer retention and customer delight.
On a broad scale, data analytics technologies and techniques provide a means to analyze data sets and draw conclusions about them to help organizations make informed business decisions. BI queries answer basic questions about business operations and performance.
Big data analytics is a form of advanced analytics, which involves complex applications with elements such as predictive models, statistical algorithms and what-if analysis powered by high-performance analytics systems.
Big data analytics finds its application in almost all fields across the globe from healthcare to finance, from Science and Research to Law Enforcement.
The value of Big data analytics is being felt across all verticals and horizontals of businesses and services across the globe and is gaining prominence because of the benefits offered by it including new revenue opportunities, more effective marketing, better customer service, improved operational efficiency and competitive advantages over rivals.
Big Data Statistics
- Google is more than 1 million petabytes in size and processes more than 24 petabytes of data a day, a volume that is thousands of times the quantity of all printed material in the U.S. Library of Congress.
- 32 billion searches are performed each month on Twitter.
- More than 1 billion unique users visit YouTube each month and over 6 billion hours of video are watched each month on YouTube - that's almost an hour for every person on Earth, and 50% more than last year.
- 90 percent of the data in the world today has been created in the past two years.
- In 2012, data was forecasted to double every two years through the year 2020.
- In 2020, the amount of digital data produced will exceed 40 zettabytes, which is the equivalent of 5,200 gigabytes for every man, woman and child on planet earth.
- 1 Gigabyte = Approximately 1 full-length feature film in digital format; 1 Petabyte= One Million Gigabytes or a Quadrillion Bytes; 1 Exabyte = One Billion Gigabytes; 1 Zettabyte = One Trillion Gigabytes or One Million Petabytes.