Big data deals with enormous sets of data from different sources.
These data sets can’t be collected, processed, and stored by utilizing conventional tools due to their complicated nature and large sizes.
There are special tools to assess and examine these data sets. The most popular of these tools are NoSQL databases, Spark, and Hadoop.
These tools allow you to gather various data types from multiple sources like web services, digital media, machine log data business apps, etc.
Here we’ll highlight some of the most important big data statistics for 2023 and learn about its importance in the world today.
Let’s dive in.
Key Big Data Statistics 2023
- In 2022 the global big data industry is worth $274.3 billion.
- Google receives more than 9 billion searches every day.
- 100 billion messages are exchanged on WhatsApp every day.
- 95% of businesses struggle to manage unstructured data.
- Big data in healthcare will be worth $67 billion by 2025.
- 79 zettabytes of data were generated in 2021.
- 180 zettabytes of data will be generated in 2025.
- Data interactions have increased by 5000% since 2010.
- More than 1.2 billion years have been spent online.
- The big data analytics market is set to reach a whopping $103 billion by the year 2027.
- Due to poor data quality, the US economy loses approximately $3.1 trillion annually.
- Internet users generate 2.5 quintillion bytes of data each day.
- In the year 2020, each internet user has generated 1.7MB of data per second.
- 95 percent of businesses said that managing unstructured data is a significant problem.
- More than 91 percent of organizations are investing in artificial intelligence and big data today.
- With the help of big data, Netflix saves over $1 billion annually with customer retention.
Detailed Big Data Statistics 2023
After reading the data growth statistics above, you might agree with some people that say big data is the new gold.
But is it?
Let’s find out some more critical facts about big data.
1. Google Gets More than 9 Billion Searches per Day
Google Inc has the highest market share when it comes to the search engine market.
In 2022, more than 90 percent of global searches were made through Google.
Another fascinating stat here is that over 15 percent of all these searches are entirely new and have never been asked for before.
Therefore, there is no case of repetition, and more unique data sets are generated daily on Google.
2. WhatsApp Users Exchange Over 100 Billion Messages Daily
WhatsApp is a famous messaging app, and its popularity is unparalleled. It is the most downloaded app in the world.
This application has a user base of two billion people. This application is available in more than 180 countries and is accessible in 60 different languages across the globe.
Furthermore, five million businesses across the globe are using the business version of this application to stay in touch with their customers. Moreover, there are over one billion Whatsapp groups across the globe.
3. Every Person-Generated 1.7 Mb of Data per Second in 2020 Alone
Even before big data was transformed into a full-fledged idea, companies across the globe were storing loads and loads of information within their databases. But they never knew what they could do with that information.
As per the stats, poor data management costs $9.7 million to $14.2 million annually. This cost can rise into a trillion for countries like the US that are data-driven.
Due to the poor stat quality, wrong business strategies can be made, leading to poor decision-making.
This can ultimately result in low productivity and can also develop mistrust between the brand and its customers. Ultimately the company will have to lose its market reputation
4. Over 95 Percent of Businesses Think that Managing Unstructured Data Is Their Primary Problem
Companies must navigate the markets properly. And for that, they need to tap into that unstructured data present in their databases completely unmanaged.
This data can help these companies forecast the future and assess the current market trends to predict what will come.
Only 3 percent of the companies have been able to act on the information acquired from big data fully. At the same time, 21 percent of businesses say that they can only act on this data on a very small scale.
5. 45% of Global Businesses Are Operating a Significant Data Workload On Cloud
The stats concerning big data on the cloud are very encouraging too. Cloud is the most recent technology that is gaining momentum across the globe.
This is because companies don’t need to purchase and maintain that costly computer hardware. Instead, they can pay for hosting and can use a software program to handle daily operations.
94 percent of the enterprises have turned to the cloud, and 30 percent of IT budgets are allocated to this too. But there is not a big percentage of companies currently using their cloud for different big data operations.
6. Over 80 Percent of Data Generated Today Is Unstructured
In the modern world, consumers prefer having a truly personalized experience with a brand. They don’t care about the device they are using. Their expectations are always the same.
One consumer can get in touch with a brand using social media on their PC. Then they might surf the website on their smartphone and then make a purchase using a tab.
For reaching out to customer support, they might use email or phone. All this data is coming from a single person, but this data has different forms.
This is a lot of data coming from a single source, and it remains unstructured. Yet, this is the data that companies need to tap into and get more insight into their customer behavior.
Big Data Industry Growth Statistics 2023
Some industries might have gone all the way with big data, while others are still reluctant to.
So, let’s find out some of the most prominent big data stats in different industries.
7. Big Data Can Go up And Over $62 Billion in Banking by 2025
The stats are very positive in the banking sector. The global banking sector is already adopting big data and integrating it into its infrastructure.
Since 2013 over 64 percent of the financial sector has adopted big data. In 2015, the industry already crossed the $12 billion market size.
And in 2019, this market grew to $29.87 billion. This was forecasted to grow at around 12.97 percent between 2020 and 2026.
With the data collected by banks across the globe, their services to customers can be improved.
For example, bankers will be able to create more personalized offers to their customers, and they can also manage risks in a better way. So overall performance will be significantly improved.
8. Big Data Analytics in Healthcare Can Be Worth Over $67 Billion by The Year 2025
Healthcare is another industry that produces a lot of data daily. With more data produced doing a specific diagnosis, it becomes simpler for the industry professionals to deal with them.
With big data, the healthcare sector can reduce costs for individuals and provide them with better treatment facilities.
Big data can also help in avoiding any preventable diseases along with predictions of any outbreaks.
The global healthcare big data market had a value of $14.7 million back in the year 2018. And by the end of 2019, it was already reaching $23 billion. It grows at 20 percent CAGR in the coming years.
9. Big Data States that Cyber Scams Have Increased by 400% Since the Beginning of The Pandemic
At the end of 2019, the pandemic struck and shook the world. And since that time, cyber scams have increased significantly.
The stats state that cyber scams have increased by 400 percent since the end of 2019.
These cybercriminals have been ripping off people due to the arising confusion caused by the pandemic.
Some have also been involved in tons of scams that include asking for money in exchange for COVID cures and vaccines.
According to the statistics, 9 out of 10 COVID domains are scams, and there are millions and millions of Zoom accounts available for sale on the Dark Web.
Even the Email scams associated with the pandemic have increased by 667% since March 2020.
More General Big Data Statistics 2023
Let’s go deeper into big data now you understand how it affects different industries and what is it all about and check out some more stats.
10. Data Development Will Increase by Up to 180 Zb by The Year 2025
Statistics show that data creation will increase and go beyond 180 ZB (zettabytes) by 2025. For example, 1 zettabyte is enough to save over 250 billion DVDs or 30 billion 4K movies.
Now, that is a lot of data, and it will be about 118.8 ZB more than what was produced in 2020. So, it’s all going to grow at a staggering petty rate.
This has happened due to the pandemic. More and more people spend time online doing their remote work, learning, or entertainment in this era.
The storage for all this data will also increase at 19.2% CAGR. This is a massive change because, according to the stats, users only saved 2 percent of data in 2020.
11. Data Interactions Have Increased by 5000 Percent
Data interactions involve the capture, creation, consumption, and copying of data. And it has gone skyrocketing in the past 10 years or so. It has increased by 5000 percent since 2010.
In other words, the data usage has increased from 1.2 trillion GB to over 60 trillion GB. This vast amount of change has occurred as companies have adopted WFH (work from home) business.
Models and work environments. The need for a richer data set for media like videos for those virtual meetings is the cause of this shift.
12. All the Data Available on The Internet Can Be Downloaded in 181 Million Years
The data available on the internet is massive, and you can understand it with these bits of stats. It will take you over 181 million years to download all the data from the internet.
This is only achievable if you have an internet speed of 44 Mbps on average because we are talking about 0.55 ZB of data available on all of the internet.
But this information has changed too. The current numbers suggest that you will need an internet speed of 46 Mbps, and you will have to download 33 ZB of data from the whole of the internet. It will complete in over 181 million years,
13. Only 0.5 Percent of Data Was Assessed in 2012
The massive amount of data will not be of any value unless it is assessed and tagged. According to the source, a study conducted by IDC in 2012 stated that only 0.5% of the data had been analyzed.
However, tagged dates are slightly higher at 3%. But research has proved that not all data has enough worth to bring value.
14. People Produce Over 2.5 Quintillion Bytes of Data Daily
In 2020, the estimated amount of data that we had on the internet was 40 ZB.
And, people produce 2.5 quintillion bytes on the internet every day.
Now, this might be a high amount of data. But if you convert it to ZB, it’s just 0.0025 ZB, which doesn’t seem much.
15. Internet Users Have Spent Over 1.2 Billion Years Online in Total
There are more than 4.3 billion internet users, and according to the reports, they spend about 6 hours & 42 minutes on the internet.
This goes to show the development of big data. Each of the 4.3 billion users using the internet in 6 hours and 42 minutes will mean that we have used up 1.2 billion years online.
16. Social Media Accounts for 33 Percent of Total Online Time
Spending time on social media is the most favorite activity for most of the internet users out there. In 2012 special media users had three social accounts, and their number has increased to seven in 2021.
Back then, they spent 90 minutes of their spare time with social media activity, while today, they spend 144 minutes.
17. Facebook Has Around 2.9 Billion Active Users Monthly
When you look at Facebook’s big data statistics, you will see that they have almost three billion monthly active users per month.
This number has increased by half a billion in 2019. In addition, it has a significant increase from 2 billion in 2012.
Facebook has over 1.8 billion daily users, and this data includes the Facebook app, Instagram app, Messenger app, and Whatsapp. And this is why digital marketers can’t just write this social media giant off.
18. Twitter Users Tweet Over Half a Million Times per Minute
What you have just heard about Facebook is only the tip of the iceberg. Internet Live Stats will tell you more about the data from Twitter, another social media giant.
For example, the number of tweets has significantly increased over the years.
Over half a million tweets go live per minute on this platform. And this number has been steadily increasing for the previous years.
If you look at the past data, you will notice that Twitter users have sent more than 30 billion tweets in the past 1.5 months.
19. Over 97 Percent of Organizations Are Going for Big Data Now
Companies have started to realize that big data is the next big thing, investing heavily in it. Over 62% of the Fortune 1000 companies have hired Chief Data Officers.
This number has skyrocketed from 2012, which was 12 percent. So, over 60% of organizations have invested over 50 million in big data.
But over 12 percent have also mentioned that they have invested over $500 million in big data.
20. Netflix Saves Over $1 Billion Annually Thanks to Big Data
Many companies use big data to improve their operations and sales, and Netflix is one of them. This streaming service had more than 180 million subscribers in 2020.
Netflix collects data from searches, rewatched programs, and ratings.
This data allows them to provide their users with personalized recommendations. Netflix spent more than $12 billion on content in 2018, and the number increased to $17 billion in 2020.
21. Big Data Market was Worth $49 Billion in 2018
With the help of big data, you can assess different trends and patterns and improve your organization’s decision-making. It means that it is going to influence your overall productivity directly.
As it’s a valuable asset, its industry worth was up to $49 billion in 2018 according to Wikibon, increasing in the coming years. According to the reported numbers, this number is going to reach $103 billion by 2023.
22. The Big Data Market Is Going to Grow by 14 Percent Till 2027
The biggest growth in big data came in 2012, which was 61%, and since then, it has been growing consistently, but the growth rate is declining too.
So it goes to show that the field is maturing. But according to estimates, this growth will continue till 2027, and from there, it will start to grow at a much slower pace.
23. Big Data Job Listings Reached 2.7 Billion in 2020
The jobs available in the field of data science reached 2.7 billion. This number shows that the field is in a huge trend, and the individuals with these skills make their organizations data-driven.
24. Automated Analytics Are Critical to Big Data
With automated analytics and integrated machine learning, big data is going to grow even further. With the data-driven approach, their scenes of success are even higher for an organization.
25. IoT Devices Will Increase by 2025
With each second, more and more IoT devices begin to connect. These devices produce around 5 quintillion bytes if dated daily.
This date can amount to up to 79.4 ZB by 2025. With these devices, more data is being added, and it can allow industries to improve their functionality and reach their market with a better approach.
26. Global Spending on Big Data Will Be Worth Over $274.3 Billion in 2022
In 2019 the overall global spending on big data was already $180 billion. And it projects to go up to $274.3 billion in the year 2022.
But, of course, this will go together with digital transformation, too, like other technological advancements.
Why Is Big Data So Important?
Big data, after being assessed and analyzed, assists in different ways. For example, it can help avoid diseases that can be prevented earlier in the healthcare sector.
In addition, with big data in banking, illegal activities like money laundering can be identified.
And in the IT field, it can help us study global warming. Here are some quick big data facts to further establish the importance of big data in the modern world.
How Big is Big Data?
Of course, there is no official definition of big data.
This is because what one individual thinks big data is could just be a traditional data set in someone else’s eyes.
This doesn’t mean that people don’t have a number of different definitions for it. This means that someone might define it as any kind of information that has been distributed across more than one system.
This is a pretty good definition, because distributed systems tend to produce more information than ones that are localized, because systems that are distributed involve more services, more machines, and more applications.
All of these generate more logs, which contain more information.
Then you’ve got a distributed system that doesn’t involve a lot. For example, you share your laptop’s hard disk over your home network, so it can be shared with other computers in your home, which could technically be called a distributed data environment.
However, most people wouldn’t think of this as a good example of big data.
Another way to try and define what big data is is to compare it to little data.
With a definition like this, it is any kind of information that has been processed using analytics tools that are advanced, while little data is interpreted in ways that are less sophisticated.
In this particular definition, the actual size isn’t all that important.
This is a pretty valid way of thinking about what big data means. The issue with this method however is that there isn’t a clear line that separates basic software scripts from advanced analytics tools.
If you define big data as information that has been analyzed on a complex platform, then you run the risk of excluding data sets from your definition that are processed with another type of system.
The bottom line here is that there is no universal definition, but there are many different ways to think about it. This is important, because it points out the fact that it is difficult to define big data in quantifiable terms.
Another way to figure out how big big data actually is is to look at some examples of it.
One example is that there is a prediction that by 2025, all the data in the world is going to grow to 175 zettabytes.
To understand this statistic better, if you try to download this much data on an average internet connection speed, it’s going to take you 1.8 billion years to complete.
Obviously, this is a pretty mind-blowing statistic, and paints a pretty impressive picture when it comes to big data and the scope that we’re talking about.
We think that examples like this shine a light on the value of big data, and we are pretty sure that most people would consider this example in particular a good way to illustrate just how big big data is.
Data-driven approaches allow individuals and businesses to watch past trends to predict the future closely.
This is where big data comes in, and so much is still left to be done because most companies haven’t even gone for a full-fledged data-driven model.
But they have started to realize that this is a golden opportunity for them to explore, as these big data statistics and facts for 2023 have shown.