Global Data Analytics Outsourcing Market by type (descriptive, predictive, and prescriptive.), by application (sales analytics, marketing analytics, finance & risk analytics, supply chain analytics, and others.), and end-user (BFSI, telecom, retail, healthcare, media & entertainment, manufacturing, and others.), by region (North America, Europe, Asia Pacific, Middle East & Africa and Latin America is expected to reach US$ 19.3 Bn by 2026, at a CAGR of 26.25% during a forecast period.
Global data analytics outsourcing market is observed considerable growth owing to the emergence of social analytics and rapid increase in the volumes of user data. Additionally, increasing use of social media, which leads to generation of huge amounts of data, and reduction in data storage prices are further expected to boost the market growth. Furthermore, owing to increasing use of internet, large amount of structured and unstructured data available to organizations. This is estimated to drive demand for data analytics outsourcing for analysing data.
Privacy apprehensions of data security issues and private data issues are anticipated to hinder the growth of the market.
The descriptive analytics is estimated to witness significant growth over the forecast period.
The increasing adoption of big data and the demand for analytics are expected to propel the growth of the descriptive analytics segment over the forecast period. The information provided by descriptive analytics help the enterprises to create a better plan for business growth and for better decision-making. The growing implementation of digital technologies and big data is impelled enterprises to adopt descriptive analytics due to the resulting increase in volume of data.
North America dominated the data analytics outsourcing market in terms of revenue.
North America dominated the data analytics outsourcing market in terms of revenue due to the growing adoption of advanced digital technologies by end users. Moreover, increasing amount of data from various departments including production, procurement, sales & marketing, and human resource is further estimated to drive demand for data analytics outsourcing market in the North America region.
The key players in the global data analytics outsourcing market include Trianz, Capgemini, Accenture, ZS Associates Inc., Tata Consultancy Services Ltd., Genpact Ltd., Fractal Analytics Inc., Opera Solutions, LLC, Associates, Inc., and International Business Machine Corporation.
Maximize market research, a global market research firm with dedicated team of specialists and data has carried out extensive research about the global data analytics outsourcing market. Report encompasses the market by different segments and region, providing the in-depth analysis of overall industry ecosystem, useful for taking informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the global data analytics outsourcing market. The driving forces as well as considerable restraints have been explained in depth. In addition to this, competitive landscape describing about the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain global data analytics outsourcing market positioning of competitors.
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