"Big Data" has become a central theme at the World Economic Forum, reflecting its growing influence across industries worldwide. According to reports, the global big data market is expected to grow significantly in 2018, with seven key trends shaping its development. Over the next five years, the industry is projected to maintain a compound annual growth rate of around 15.37%, highlighting its strong potential.
At the start of the year, major global events like the Davos Forum placed "big data" at the forefront of discussions. As the field continues to evolve, countries are taking strategic steps to harness its power. In China, for instance, there's a clear focus on assessing the opportunities and challenges that come with big data, while also working on legal frameworks to support its sustainable growth. A series of articles titled “Big Data Observation†were published, offering insights into global trends, policy developments, and technological advancements.
The importance of big data was further emphasized at the 2018 Consumer Electronics Show (CES) in Las Vegas, where industry leaders such as Gary Shapiro from the Consumer Technology Association and Brian Krzanich from Intel highlighted its transformative potential. They pointed out that big data will play a crucial role in shaping the future of technology and human life.
By 2022, the global big data market reached an impressive $80 billion, with an average annual growth rate of 15.37%. This reflects the rapid pace at which data is being generated and utilized. In 2017 alone, the total amount of data worldwide reached 21.6 zettabytes, and the growth rate remains around 40% per year. By 2020, it’s estimated that global data will reach 40 zettabytes, underscoring the scale of the digital revolution.
Experts like Wang Jian, chairman of Alibaba Group’s technical committee, emphasize that the internet era has created a wealth of data that can now be turned into valuable resources. Bernd Leukert from the company’s board notes that modern systems automatically generate data from people, devices, and interactions, fundamentally changing how businesses operate.
Qiu Dongxiao, director of the Tsinghua Data Innovation Base, outlines four levels of big data development: technical, application, industrial, and ecological. Each level plays a critical role in driving innovation, improving efficiency, and fostering collaboration between talent, policies, and markets.
Looking ahead, the global big data market is forecasted to reach $45.4 billion in 2018, growing to $80.5 billion by 2022. In China, the market is expected to hit 28 billion yuan in 2018, with a compound annual growth rate of about 27.29% over the same period. These figures highlight the increasing significance of big data in both the global and domestic economies.
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