The global Big Data market size is growing year by year. Data-driven decisions have become standard for numerous industries around the world.
More than 60% of organizations are planning to increase data-related spending relative to 2021 levels in 2022 and beyond, according to the recent findings obtained by TechTarget's Enterprise Strategy Group division. The reasons are clear: Big Data helps to understand and anticipate customer needs, scan the hottest trends in social media, and analyze all kinds of external and internal threats to your company.
Following industry leaders, many companies seek Big Data and Analytics expertise to embrace the opportunities awaiting there. Everyone wants to know what is coming for the industry as well. Let’s disclose the trends in Big Data and look at the challenges that may dominate in the coming years.
Big Data Trends
Machine Learning to Sustain Hunting for Insights
Together, Big Data and Machine Learning are forecast to expand their reach to new arenas. Experts from Fortune Business Insights predict that the ML market will grow from $15.3B in 2021 to $210B by 2029.
Machine Learning and AI rapidly extend their abilities with more advanced algorithms and intelligent services. Their elements integrate into the company's processes to extract insights and assure fast and robust problem-solving without manual assistance. Together, they are going to provide more opportunities to analyze the data flow coming from numerous sources, be it sensors, applications, or Google search queries.
Demand for NLP Systems to Rise
According to Facts & Factors, the NLP market will steadily grow from 2022 and reach $13,277 million by 2028. It means that despite the pandemic and its significant blow on IT budgets, tech leaders are will be in demand for sophisticated text analytics fuelled by the rising voice assistant usage.
Companies plan to focus on systems that can capture a customer’s voice and translate it into machines’ language. With the technology, it will be possible to dig deeper into customer attitudes and preferences and achieve better outcomes for other crucial initiatives. It, in turn, will lay the groundwork for developing virtual assistants or chatbots with “conversational” capabilities. Using Big Data analytics tools, further advancements are likely to bring the concept closer in the coming years.
Big Data to Transform Skill Sets
A promising Big Data market forecast has already fueled the specialization of roles within IT departments. It urges companies to search for talent with industry-specific expertise rather than an MBA degree.
The Chief Data Officer (CDO) position is becoming the hottest Big Data trend in 2022, especially in the North American region. Companies appoint such a specialist to address data availability, integrity, and security challenges. The most recent study conducted by Strategy& indicated that 80% of North American companies have a CDO in place.
The same survey, however, indicates an uneven spread of CDO positions worldwide. Around half of the total number of CDO careers have landed a job in the US. At the same time, there is only a 7% ratio of companies with an executive-level data management specialist appointment. So there remains much room for improvement in defining their responsibilities. It looks like the definition of the role will be revised in the coming years.
Data-as-a-Service to Grow in Demand
Almost every company is going to recognize the benefits of data as a service (DaaS) in the next couple of years. DaaS delivers data in streams that are tailored to subscribers’ needs. Now, relatively few businesses have in-house resources to access data streams and manipulate that data efficiently.
DaaS can eliminate the need for internal data management teams as it offers a robust means to quickly and easily access external data sources. Big Data as a service will give you more control over company-wide data and fill the gap between departments. Data lake proliferation and secure cloud-based solutions can make relevant data available in an easy-to-use and safe format.
5G to Speed Up Data Transmission
The need for reliable Internet connectivity and an ever-growing number of IoT sensors have triggered the demand for active 5G deployments. The technology is likely to provide a high-throughput data pipeline that can handle huge data volumes to integrate the data coming from various sources.
The technology will improve user experience by connecting household-level wearable tech and VR assistants. At the industrial level, 5G will be powered by the Big Data technology stack to provide faster and safer ways to collect and process data.
Telemedicine has become one of the most widespread territories that have leveraged the 5G technology. China is now in the vanguard of the global 5G revolution as it has started to roll out the infrastructure and facilities to apply the new network to hospitals across the country. The recent Wunderman Thompson report describes the phenomenon as an innovative way for Chinese patients to access doctor’s help anytime, anywhere, without latency and connectivity issues.
Edge Computing to Gain Numerous Adopters
What is edge computing? The technology refers to shifting the data processing infrastructure closer to the data generation source. Sending business-critical data to the cloud or centralized data systems is no longer sufficient. The urge for fast, near real-time processing of data streams, goes hand in hand with Big Data growth.
Local data processing and real-time data analysis are likely to grow exponentially in the coming years. Due to the growing number of IoT, AR/VR, ML, Robotics, and other use cases that require intensive workloads.
Actionable Data to Put More Insights to Work
One of the trends in Big Data analytics trends is related to the increased focus on faster data processing and hunting for insights. When examined and appropriately organized, Big Data can create meaningful connections between unstructured information and business value. In this way, it can facilitate informed business decisions and streamline operations.
The need for improvements in data collection and processing will continue to put to the fore Big Data Hadoop, Spark, and other analytics tools. As a result, their value is forecast to grow exponentially in forthcoming years as more and more companies embrace the hunt for actionable data.
Cloud Big Data Technologies to See Rapid Growth
Big Data and Cloud computing enable organizations to store and process large volumes of data irrespective of their location. Previously, they would have to physically expand their premises to scale operations and analyze complex data sets.
Within a few years, Big Data Cloud-based solutions are likely to become mainstream but with certain limitations.
The big question is whether achieving the right data protection level in the short term is possible. Most cloud storage adopters face the issues of data security and privacy issues, growing cloud spending, and a lack of expertise in cloud management. These are the top challenges for Enterprise-grade and SMBs in 2022, according to the novel Flexera’s report.
With 85% of organizations mentioning security as a top roadblock affecting their operations, the demand for cloud security specialists is rising. However, almost 34% of respondents participating in Foundry’s cloud computing study say that their lack of expertise in that field is one of the major challenges for their organizations.
Data Sustainability to Become One of the Major Goals
The rapid development of Cloud computing, Big data analytics tools, AI, ML, and content streaming has already caused urgent environmental implications. As the volume of information stored on data centers grows exponentially, it urges companies to work towards renewable energy solutions.
Data sustainability is one of the dominant issues of 2022 raised in the previously mentioned Wunderman Thompson Intelligence report. As of 2022, the infrastructure around digital technologies consumed 2% of global electricity. It is also responsible for a growing percentage of greenhouse gas emissions. The growing carbon footprint is fuelled by the spread of the Metaverse and an accelerating amount of online users.
To reduce technology's environmental impact, governments will embrace regulations concerning energy consumption and nurture ecological awareness. In this regard, the turn to green data centers is anticipated to bring about tangible results. According to Research and Markets, the carbon-neutral data centers market is forecast to grow by a CAGR of 22.19% by 2027 and reach $16.53 billion in market value.
Big Data Challenges
Along with its potential, Big Data issues and challenges can’t be ignored. This happens because more data than ever has been created in recent years.
The advent of wearable devices and other IoT technology-based gadgets has generated massive data influx from ordinary users. Only a small amount of this data is accessible for further analysis with Apache Hadoop, Spark, or other frameworks.
Other Concerns to Be Addressed Are:
- Data complexity and reliability challenge numerous companies willing to make informed decisions. Companies need to learn how to work with vast amounts of data and develop their solutions to process raw data.
- Data security: data is coming from various sources, making it hard to pinpoint a compromised one. Organizations will have to work out appropriate practices to secure data collection and retrieval.
- Data protection: did you know that the Internet handles 400,000 hours of video streamed on Netflix and almost 42 million messages shared via WhatsApp every 60 seconds? According to data obtained by TechJury, the figures are going to rise significantly in the coming years. Should those forecasts come true, mountains of sensitive data will require consistent regulation and protection.
Organizations that process personal data have to comply with data protection regulations introduced by GDPR. The California Consumer Privacy Act had also come into action in 2020. Businesses will be under pressure to keep up with the ongoing changes as failure to comply will result in hefty penalties. Considering those regulations, GDPR-compliant software development is likely to become one of the most important offerings in the industry.
In a recent couple of years, Internet users have already created more data than ever before. Big Data is transforming the way businesses operate, and there is no sign of it slowing down. We believe that 2023 will be another crucial year with trends in Big Data and analytics staying on top of the agenda.
In this article, we are going to explain what data mining presupposes, when...
We’re already two months into 2021, which is an excellent time to discuss...
These days, it’s hard to find industries that are not driven by verifiable...
The Spark framework is an open-code general-purpose computational engine that is read...
In this article, we are going to explain what Big Data analytics is...
This article will explain the peculiarities of big data application development and p...