Fortune Business Insights reports that the global big data analytics market size was valued at $307.51 billion in 2023. The data analytics and intelligence firm says that the market size will have a compound annual growth rate of 13 percent from 2024 through 2032. The global big data analytics market size will reach $924.39 billion by 2032. "The increasing digital solutions across business sectors, such as banking; health care; banking, financial services, and insurance; retail; agriculture; and telecom/media, significantly increase data," according to Fortune Business Insights. "For instance, artificial intelligence brings a noteworthy change in the agriculture sector's risk management, precision farming, and pest control."
Job opportunities for big data specialists will be excellent during the next decade. Massive amounts of data are being generated by customers at stores and online, through sensors and surveillance cameras, by the use of social media and the Internet, and via many other sources. A look at the following digital activity each minute in 2022 (according to DOMO, a business data platform provider) spotlights the sheer volume of data that is being created:
- 16 million texts were sent.
- 231.4 million e-mails were sent.
- 5.9 million search queries were made on Google.
- 347,200 Tweets were sent.
- 66,000 photos were uploaded on Instagram.
The U.S. Department of Labor reports that the career of data scientist will be the third fastest-growing career in the United States from 2022 through 2032. Employment is expected to grow by 35 percent during this time span. Growth of 50 percent or higher through 2032 is expected in the following sectors: home health care services, offices of other health practitioners, office administrative services, and warehousing and storage. Additionally, Robert Half Technology, an IT staffing firm, included data specialists and database administrators on its list of technology careers that are in strong demand. Industries where demand is strongest for technology professionals include education, health care, financial services, manufacturing, and professional services.
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