"Big Data" has become a central theme at the World Economic Forum, with global experts and industry leaders emphasizing its transformative potential. In 2018, it was one of the most discussed topics in major international events, including the Davos Forum. According to reports, the global big data market is expected to grow rapidly, with a compound annual growth rate of approximately 15.37% over the next five years. By 2022, the market size is estimated to reach around 80 billion U.S. dollars.
As the year began, major global conferences like the World Economic Forum in Davos placed "big data" at the forefront of discussions, highlighting its role in shaping the future. In response, China has been actively assessing the situation, planning strategically, and accelerating its efforts to gain a competitive edge in this emerging field. The newspaper conducted in-depth research and interviews on global trends, opportunities, challenges, and legal frameworks surrounding big data, publishing a special series called “Big Data Observation†to keep readers informed.
At the 2018 Consumer Electronics Show (CES) in Las Vegas, industry leaders such as Gary Shapiro from the Consumer Technology Association and Brian Krzanich from Intel emphasized the profound impact of big data on everyday life. They highlighted that big data is not only a powerful driver for technological advancement but also a key factor in digital transformation across industries.
According to recent statistics, by 2022, the global big data market had reached 80 billion U.S. dollars, with an average annual growth rate of 15.37%. The volume of data generated worldwide has surged dramatically, with global data reaching 21.6 ZB in 2017 and expected to hit 40 ZB by 2020. This rapid growth underscores the increasing importance of big data in both business and society.
Experts like Wang Jian from Alibaba Group have pointed out that while earlier development left limited data, the Internet era has created vast amounts of information that can now be turned into valuable resources. Bernd Leukert from another company added that modern IT systems no longer rely solely on manual data entry; instead, everything—from people to devices—automatically generates data, creating new opportunities for innovation and efficiency.
Qiu Dongxiao from Tsinghua University’s Data Innovation Base emphasized that big data should be approached from multiple levels: technical, application, industrial, and ecological. Each level plays a crucial role in driving progress, from integrating AI and IoT technologies to promoting industrial upgrades and fostering collaboration between policies, talent, and markets.
Looking ahead, institutions predict that the global big data market will reach 45.4 billion U.S. dollars in 2018, growing steadily through 2022. Meanwhile, China's big data market is expected to reach 28 billion yuan in 2018, with a projected compound annual growth rate of 27.29% over the same period. As the world continues to embrace data-driven decision-making, the influence of big data will only continue to expand.
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