Big data analytics is expected to grow to more than $100 billion by 2027 as companies become more reliant on data.

Big data has become big business, with companies of all sizes relying on the data they collect to tailor their services and gain a competitive advantage. As large as the industry has become, it’s poised to become much larger.

According to the latest data from Statista, big data analytics will top $100 billion by 2027, coming in at an estimated $103 billion.

The global big data market is forecasted to grow to 103 billion U.S. dollars by 2027, more than double its expected market size in 2018. With a share of 45 percent, the software segment would become the large big data market segment by 2027.