Try our corporate solution for free!

Big data - Statistics & Facts

The term “big data” is used to describe large and complex data sets. Be it healthcare data or social media metrics, modern technology means large structured or unstructured data sets can be delivered in near real-time. Crucially, big data cannot be analyzed using traditional methods. The size, speed, and complexity of big data necessitates the use specialist of software which in turn relies on significant processing power and storage capabilities. While costly, embracing big data analytics enables organizations to derive powerful insights and gain a competitive edge. By 2029, the value of the big data analytics market is expected to reach over 655 billion U.S. dollars, up from around 241 billion in 2021.

Analytics as a service (AaaS)

The emergence of big data analytics has accompanied exponential growth in the global volume of data. This has been fueled in part by the “Internet of Things” (IoT), which refers to the growing network of connected devices generating and exchanging data online. Indeed, it is the sheer volume of data involved in big data analytics that has proved a hurdle for organizations wishing to store and analyze data on-premises. This has given rise to the “analytics as a service” (AaaS) model, which enables organizations to carry out analytics via a cloud-based subscription service, and thus avoid the high costs associated with on-site storage and processing.

Consumption

The adoption of big data analytics is often understood as part of a broader digital transformation drive across industries, with various subsegments offering a range of capabilities. Predictive analytics represents the cutting edge of the market, enabling analysts to predict business outcomes via statistical modeling. Valued at 5.29 billion U.S. dollars in 2020, the predictive analytics market is projected to reach 41.52 billion by 2028. Meanwhile, the social media analytics market is set to grow from 7.01 billion U.S. dollars in 2021 to 26.3 billion in 2028. Despite strong market growth, it’s important to note that the transformation is far from complete. While 57 percent of leading organizations cite that they are using data to drive innovation, only 27 percent believe they have successfully created a “data-driven” organization.

Major players in big data

The major providers of big data and analytics software include global names such as Oracle, Microsoft, SAP, and IBM. They each offer specialized software tools and applications for advanced and predictive analytics, data mining, forecasting, and data optimization. Even though these processes are all separate, they are still highly integrated functions of big data analytics that come together to assist their clients with data-focused business decisions for the future of their company. Other noteworthy companies that specialize in more specific functions of big data analytics include SAS, who leads the advanced and predictive analytics software segment, as well as Informatica, who leads the analytic data integration and integrity software segment.



Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Vayola Jocelyn
Vayola Jocelyn
Client Support Specialist– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Ziyan Zhang
Ziyan Zhang
Customer Relations– Contact (Asia)

Mon - Fri, 11:30am - 10pm (IST)

Contact Kisara Mizuno
Kisara Mizuno
Customer Success Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Associate Director - LAC– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)