Big data and business analytics revenue worldwide 2015-2022

The global big data and business analytics market was valued at 168.8 billion U.S. dollars in 2018 and is forecast to grow to 274.3 billion U.S. dollars by 2022, with a five-year compound annual growth rate (CAGR) of 13.2 percent.

Big data

High volume, high velocity and high variety: one or more of these characteristics is used to define big data, the kind of data sets that are too large or too complex for traditional data processing applications. Fast-growing mobile data traffic, cloud computing traffic, as well as the rapid development of technologies such as artificial intelligence (AI) and the Internet of Things (IoT) all contribute to the increasing volume and complexity of data sets. By 2021, the global cloud data center IP traffic is forecast to reach around 19.5 zettabytes (ZBs). Connected IoT devices are projected to generate 79.4 ZBs of data in 2015.

Business analytics

Advanced analytics tools, such as predictive analytics and data mining, help to extract value from the data and generate business insights. The size of the business intelligence and analytics software application market is forecast to reach around 14.5 billion U.S. dollars in 2022. Banks make the most use of big data and business analytics technology – the banking industry contributed to 13.9 percent of the market revenue in 2018.

Revenue from big data and business analytics worldwide from 2015 to 2022

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Source

Release date

April 2019

Region

Worldwide

Survey time period

2015 to 2019

Supplementary notes

* Forecast

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