Globally, big data IT investments in 2022 stood at approximately $247.1 billion, with expectations of nearly $528 billion by 2027, marking a 16.4% compound annual growth rate (CAGR), according to IDC.
China's market is particularly noteworthy, with IDC forecasting a leap to $43 billion in big data IT investments by 2027. This figure represents about 8% of the global market, with a staggering 21.5% five-year CAGR, the highest globally.
Big data, characterized by its volume, variety, timeliness, and variability, has become a pivotal intangible asset in the digital era. Short-term perspectives focus on how digital transformation and intelligent upgrades drive enterprises to enhance data governance, propelling big data platform development.
In the long term, as government and corporate budgets gradually align and market scale solidifies, China's big data IT spending growth is expected to decelerate.
The big data software market exhibits significant growth potential from a techn...
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