Research
Big Data & Data Analytics Market is Booming
In just two days, the world now generates more data than it did from the dawn of civilization until 2003. The volume and variety of data are growing exponentially, making data hard to process using conventional database management tools. That’s big data. And it has been a reality for the past four years. By 2020, this global market is expected to grow an average of 25% a year(Frost & Sullivan, 2014). The migration of economic and social activities to the Internet and the advent of the Internet of Things—along with with dramatically lower costs of data collection, storage and processing, and rising computer power—means that big data is increasingly driving innovation and is potentially an important new source of growth (OECD, 2015).
With all it has to offer, Québec is well-positioned globally
to take advantage of the vast potential that big data holds. The global big data market is forecasted to grow to 103 billion U.S. dollars by 2027 with a share of 45 percent; the software segment would become the large big data market segment by 2027.
The statistic shows worldwide IT spending on data center systems from 2012 to 2020. In 2019, spending on data center systems is expected to amount to 204 billion U.S. dollars. Last year, information technology spent as a whole reached 3,747 billion U.S. dollars. Technological advancements in data collection, storage, analytics, and visualization, which will allow organizations to increase the amount of data they generate, as well as to produce more actionable intelligence to support real-time decision making.
By National Big Data Markets, Canada after USA has the biggest big data market among 19 countries. And also you can see the projected revenues in the future in the below chart:
Would you like to know more about: Average Salary for Skill:
Big Data Analytics in Montreal?
The average pay for a Database Developer is C$68,584 per year. Yes, it’s Amazing. And also we should mention that based on the latest report of THE INFORMATION AND COMMUNICATIONS TECHNOLOGY COUNCIL (ICTC), Big data is one of the High demand occupations in Canada.
… AND ADDED VALUE
Big Data Can Generate Significantly More Financial Value for a Wide Range of Sectors
HEALTH CARE SYSTEM IN THE U.S.: Over US$300 billion per year, Annual productivity gains 0.7%
PUBLIC ADMINISTRATION IN EUROPE: Over €250 billion per year, Annual productivity gains ≈ 0.5%
GLOBAL GEO-DATA: Over US$100 billion for service providers, Over US$700 billion for users ·
RETAIL BUSINESSES IN THE U.S. : 60% higher profit margins, Annual productivity gains ≈ 0.5% to 1%
GLOBAL MANUFACTURING SECTOR: Assembly costs up to 50% lower, Up to 7% less working capital
Let’s see to know more about Big Data specialist around the world, we have 541.000 specialists around the world, which 16.200 of them are working in Canada, it is an awesome number.
References:
- https://www.statista.com/statistics/254266/global-big-data-market-forecast/
- https://homelandsecurityresearch.com/reports/big-data-data-analytics-homeland-security-public-safety-global-market/?gclid=EAIaIQobChMIwdHAxbL24QIViSSGCh1quAoFEAAYASAAEgJY1_D_BwE