Data Analytics Outsourcing Market Share Growth & Size Opportunities by 2027

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Data Analytics Outsourcing Market to 2027 - Global Analysis and Forecasts by Type (Descriptive Data Analytics, Predictive Data Analytics, and Prescriptive Data Analytics); Application (Sales Analytics, Marketing Analytics, Risk & Finance Analytics, and Supply Chain Analytics); and End-user (BFSI, Healthcare, Retail, Manufacturing, Telecom, and Media & Entertainment)

Publication Month: Apr 2019 | Report Code: TIPTE100001359 | No. of Pages: 174 | Category: Technology, Media and Telecommunications | Status: Published

The data analytics outsourcing market expected to grow from US$ 3,077.65 million in 2019 to US$ 19,357.09 million by 2027; it is estimated to grow at a CAGR of 25.8% from 2019 to 2027.

Shortage of skilled labor and high cost associated with their retention is attributing to the growth of the market. In the business world of today, data holds the most prominent position. If gathered and analyzed in a correct way the data is capable of facilitating the organizations to effectively map their potential for the business needs, and make well-informed and sensible decisions. However, in order to derive the correct information the organizations procure data analytics skills, and shortage in the availability of skilled workforce is therefore delaying the adoption of analytical capabilities among the organizations. The training and educations institutes across the globe are often unable to meet the requirement of the transforming labor market, which in response have created gaps containing the growth of data analytics.
However, owing to the robust competitive advantage provided by data science and analytics capabilities, the organizations are shifting their focus from in-house data analytics skill procurement to outsourcing of analytics services. The widening gap due to the skill shortage has thus created the demand for outsourcing services for their data analytics provision. The demand for outsourced in not just fuelled by the shortage of skilled labors but also because of the operational cost involved with adoption of data analytics capabilities. In order to integrate the big data management capabilities the companies are required to invest upon additional assets and resources. Thus, instead of having on payroll, the companies are preferring to outsource them before strategizing new product development, market penetration, and cost projections. Furthermore, for attainment in upcoming oversaturated and volatile market, the business are expected to continue to spend on data analytics outsourcing.

Lucrative Regions in Data Analytics Outsourcing Market

Lucrative Regions in Data Analytics Outsourcing Market

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Market Insights–Data Analytics Outsourcing Market

Rapidly increasing data traffic

With the use of more and more connected devices and easy access to internet coupled with decreasing cost of internet services, the demand for big data analytics is increasing worldwide. This is due to increasing in cloud-based services, such as online contents including movies, apps, videos and social media. The proportion of data traffic generated by cloud during the recent past was around 1.2 zettabytes, according to Cisco Systems, and this comprised of 46% of the total traffic. Furthermore, the company estimates that in the coming years, this data traffic will increase more than 5 zettabytes. This has resulted in cloud-based companies to deploy more IT space in their data centers. Several industries are exploring the cloud offerings and discovering the benefits of data center services to support their needs related to cloud. These developments are directly effecting the increase in Internet of Things (IoT) and data, thereby resulting in increased demand for data analytics capabilities.

Type-Based Insights

Based on type, the data analytics outsourcing market is segmented into descriptive analytics, predictive analytics, and prescriptive analytics. The descriptive analytic segment held the largest market share in 2018.

Application-Based Insights

Based on application, the data analytics outsourcing market is segmented into sales analytics, marketing analytics, risk & finance analytics, supply chain analytics, and others. The marketing analytics segment held the largest market share in 2018.

Strategic Insights

Report Coverage - Data Analytics Outsourcing Market
Report CoverageDetails
Market Size Value inUS$ 3,077.65 Million in 2019
Market Size Value byUS$ 19,357.09 Million by 2027
Growth rateCAGR of 25.8% from 2020-2027
Forecast Period2020-2027
Base Year2020
No. of Pages174
No. of Tables83
No. of Charts & Figures78
Historical data availableYes
Segments coveredType ; Application ; and End-user
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Spain, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
Free Sample Copy Available

Players operating in the data analytics outsourcing market are mainly focused on the development of advanced and efficient products.

  • In 2018, Wipro has entered into a partnership with Lone Star. The partnership between two companies enables Lone Star’s analytic services to improve the IIoT platform of Wipro. This integration would help to predict the future results within a real-time and also turn the knowledge into action.
  • In 2017, Genpact Ltd. partners with Sequoya, an analytic firm specializing in multi-source data modelling and predictive analytics solutions. With this relationship, Genpact will integrate the Sequoya 20/20 analytics platform into its analytics and digital portfolio to optimize the trade promotion operations for its consumer packaged goods (CPG) and life sciences client base.

The data analytics outsourcing market has been segmented as follows:

Data Analytics Outsourcing Market – by Type

  • Descriptive Analytics
  • Predictive Analytics
  • Prescriptive Analytics

Data Analytics Outsourcing Market – by Application                                        

  • Sales Analytics
  • Marketing Analytics
  • Risk & Finance Analytics
  • Supply Chain Analytics
  • Others

Data Analytics Outsourcing Market – by End-User                                           

  • BFSI
  • Healthcare
  • Retail
  • Manufacturing
  • Telecom
  • Media & Entertainment
  • Others

Data Analytics Outsourcing Market – by Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • Russia
    • U.K
    • Rest of Europe
  • Asia Pacific (APAC)

    • Japan
    • China
    • Australia
    • India
    • South Korea
    • Rest of APAC
  • Middle East and Africa (MEA)

    • Saudi Arabia
    • UAE
    • South Africa
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Data Analytics Outsourcing Market – Company Profiles

  • Accenture
  • Capgemini SE
  • Fractal Analytics Inc.
  • Genpact
  • Infosys Limited
  • Mu Sigma Inc.
  • Tata Consultancy Services Limited
  • Wipro Limited
  • WNS (Holdings) Ltd.
  • ZS Associates, Inc.

The List of Companies

  1. Accenture
  2. Capgemini SE
  3. Fractal Analytics Inc.
  4. Genpact
  5. Infosys Limited
  6. Mu Sigma Inc.
  7. Tata Consultancy Services Limited
  8. Wipro Limited
  9. WNS (Holdings) Ltd.
  10. ZS Associates, Inc.
  • Highlights key business priorities in order to assist companies to realign their business strategies.
  • The key findings and recommendations highlight crucial progressive industry trends in the Data Analytics Outsourcing market, thereby allowing players to develop effective long term strategies.
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, services, and industry verticals.
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