The global market for Data Analytics Outsourcing is expected to rise significantly, and to reach at USD 20.68 billion by the end of 2026, with a staggering CAGR of 29.4 percent over the predicted period of 2018-2026, according to Transparency Market Research. As many global companies are spending in mergers and acquisitions, they are also implementing advanced analytics application platform to effectively address the various need of specified companies and industries.
Application of data analytics outsourcing is highly noticeable in the BFSI sector. This segment led the market in the year 2016, as this sector primarily adopted data analytics services and the demand for data analytics escalated drastically across the globe. On the basis of geography, North America held extensive share in this market in same year. The report included the driving factors of the market that are of rapid growth in data generation from diverse industries like Healthcare, BSFI, and Manufacturing. Furthermore, mounting demand of Data Analytics Outsourcing and Data Analytics tools and technologies by North American companies has amplified demand in this market. The market research report also profiled key companies who drive the market, including Genpact Ltd., Capgemini, Fractal Analytics Ltd, IBM Corporation, Mu Sigma, Inc., RSA Security LLC, Sap SE, Opera Solutions LLC, Infosys Ltd., and Tata Consultancy Services Ltd.
The market for global Data Analytics Outsourcing is in its embryonic stage, but increasing awareness about it is key factor that will profit the market in the coming years. Rising knowledge among folk about the advantages of utilizing Data Analytics Outsourcing and the way it will augment productivity can also increase its demand. To assess massive amount of data, a range of large and small businesses are now utilizing Data Analytics by using different qualitative and quantitative methods. It will assist the companies to grab the attention of more customers and expand their business successfully in diverse geographies. Additionally, growing utilization of mobile, internet and other electronic gadgets has made mammoth data that needs to be well managed and assessed. Therefore, the demand for Data Analytics Outsourcing has boosted at a hasty rate where the market is anticipated to grow drastically in the coming years.