The digital universe is expected to double every two years through 2020, but only 0.5% of the world’s data is being analysed, according to a new study from market research firm IDC sponsored by EMC.
According to the study, the proliferation of devices such as PCs and smartphones worldwide, increased Internet access within emerging markets.
The report found that the increase in data from machines such as surveillance cameras or smart meters has contributed to the doubling of the digital universe within the past two years alone to 2.8 ZB.
IDC expects that the digital universe will reach 40 zettabytes (ZB) by 2020, which exceeds previous forecasts by 14%.
The report said that a major factor behind the expansion of the digital universe is the growth of machine generated data, increasing from 11% of the digital universe in 2005 to more than 40% in 2020.
Between 2012 and 2020, the investment on IT hardware, software, services, telecommunications and staff which could be considered the infrastructure of the digital universe is expected to increase by 40%.
By 2020, IDC expects that 62% of the digital universe will be attributable to emerging markets and China alone is anticipated to generate 22% of the world’s data.
EMC executive vice president of product operations and marketing Jeremy Burton said: "As the volume and complexity of data barraging businesses from all angles increases, IT organizations have a choice: they can either succumb to information-overload paralysis, or they can take steps to harness the tremendous potential teeming within all of those data streams."
"This year’s study underscores the massive opportunity that exists for businesses that not only identify the potential benefits of the digital universe, but recognize the importance of navigating that universe with the right balance of technology, data security practices and IT skills," Burton said.