The big data industry will be worth an estimated $77 billion by 2023.

2019

• Nearly 50 percent of businesses say big data and analytics have fundamentally changed business practices in their sales and marketing departments.
• More than 30 percent of businesses say big data and analytics have fundamentally changed business practices in their research and development departments
• The worldwide big data market is projected to grow from $42 billion in 2018 to $103 billion in 2027.
• The number of IT professionals using descriptive and predictive analytics grew from the mid-40th percentile to high 60th percentile between January 2018 and January 2019.
• In the banking sector, investments in big data analytics were estimated at $20.8 billion in 2016.
• 62 percent of retail businesses see competitive advantages from information and analytics.
• 95 percent of businesses need to manage unstructured data.
• 53 percent of CEOs consider themselves the primary leader of their company’s analytics agenda.
• 79 percent of enterprise executives say that not embracing big data will cause companies to lose competitive position and risk extinction.
• 50 percent of businesses say data and analytics significantly impacted new entrants launching data and analytics businesses that undermine traditional competitors’ value propositions.