Growth of Data and Reasons for Growth

Significant growth is projected in a variety of sectors in the near future, including data collecting and storage, market expenditure, and data analytics recruiting. First, the rate of data expansion shows no signs of slowing down. The COVID-19 epidemic boosted data creation in 2020, according to IDC's DataSphere and StorageSphere investigations. Only 2% of the 64.1 zettabytes (ZB) of data created in 2020 was retained or stored until 2021, according to IDC. According to IDC, new data generation will increase at a compound annual growth rate (CAGR) of 23% from 2020 to 2025, resulting in over 175ZB of data creation by 2025. In March 2021, Dave Reinsel, senior vice president at IDC, predicted “The amount of digital data created over the next five years will be greater than twice the amount of data created since the advent of digital storage,” "The question is, how much should be saved?" So far, the answer is: little. According to IDC, data storage is ten times slower...