Big Data In Cloud Infrastructure—Infographic
The availability of data from every source imaginable is a game-changer for companies. Better known as Big Data in the business world, this large collection of data that is gathered, stored, organized and analyzed is key for business operations. Because of the enormity and sensitivity of such data sets, it's important to keep it in a secure and efficient environment, the cloud. As cloud adoption spreads far and wide, the option for enterprises to embrace Big Data also increases. Let's have a look at the growth in Big Data.
Big Data Market Revenue
Worldwide, Big Data market revenue for software and services is expected to increase from $42 billion in 2018 to $103 billion by 2027, attaining a CAGR of 10.48% over the given time period.
Key Market Drivers
- Growth in the global infrastructure-as-a-service market
- Increase in the adoption of the Internet of Things
Big Data Adoption By Enterprises
79% of enterprise executives agree that if Big Data is not embraced by companies, they could face potential extinction.
The Fastest Growing Markets
The Chinese market for Big Data has been the fastest growing globally for the last 6 years, at a CAGR of 31.72%. The market is said to have reached $9 billion in 2020!
The Fastest Growing Categories
The top 5 Big Data categories that experienced rapid growth between 2015-2020:
- Content analytics
- Cognitive software platforms
- Search systems
- Non-relational analytical data store
Advantages Of Cloud Computing And Big Data Integration
- Reduced cost
- Data processing