The global data analytics outsourcing market was valued at US$ 2.49 Bn in 2018 and is expected to grow at a CAGR of 25.8% during the forecast period 2019 - 2027, to account to US$ 19.36 Bn by 2027
The global data analytics outsourcing market was valued at US$ 2.49 Bn in 2018 and is expected to grow at a CAGR of 25.8% during the forecast period 2019 2027, to account to US$ 19.36 Bn by 2027.
NEW YORK, Jan. 21, 2020 /PRNewswire/ --
The global data analytics outsourcing market was valued at US$ 2.49 Bn in 2018 and is expected to grow at a CAGR of 25.8% during the forecast period 2019 – 2027, to account to US$ 19.36 Bn by 2027. Factors such as shortage of skilled labor, as well as high adoption among by diverse industries, is driving the data analytics outsourcing market growth.
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Despite the increasing demand for analytics outsourcing, the landscape of data analytics outsourcing market has been little captured by the companies that provide end to end solutions including data collection, entry cleansing, and analytics altogether.Nonetheless, rising price competition in the market is expected to promote un-bundling of the data analytics outsourcing services anyhow.
Apart from the expanding data generation capabilities, the intensifying scenarios in terms of innovation are expected to contribute to the growth in demand of data analytics outsourcing market.
India and China are the key suppliers of data analytics outsourcing services across the globe.The availability of relatively low-cost workforce and rapid grass development of these economies has enabled them to lead the market in terms of resourcing data analytics services.
However, North America and Europe are critical contributors to the global data analytics market. In the coming years, the Asian as well as Middle Eastern markets are anticipated to emerge as highly competitive, owing to the growth of small and medium businesses.
The most prominent region in global data analytics outsourcing market in 2018 accounted for North America, followed by Europe and the Asia Pacific.The Middle East and Africa, and South America held the fourth and fifth position in terms of market shares in data analytics outsourcing market.
North America is one of the fastest growing regions in terms of technological development.In the past five years, the region witnessed the significant adoption of technologies such as Big Data, IoT, artificial intelligence, cognitive learning, machine learning, and powered solutions across all the sectors.
These technologies are highly data intensive and are responsible for generating huge volumes of data every day that is used, and at times stored and processed for use as and when needed.
The overall data analytics outsourcing market size has been derived using both primary and secondary source.The research process begins with exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the data analytics outsourcing market.
It also provides the overview and forecast for the global data analytics outsourcing market based on all the segmentation provided with respect to five major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and South America.Also, primary interviews were conducted with industry participants and commentators in order to validate data and analysis.
The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specializing in the data analytics outsourcing industry. The major companies operating in the data analytics outsourcing market globally include Accenture, Capgemini SE, Fractal Analytics Inc., Genpact, Infosys Limited, Mu Sigma Inc., Tata Consultancy Services Limited, Wipro Limited, WNS (Holdings) Ltd., and ZS Associates, Inc. among others.
Read the full report: https://www.reportlinker.com/p05774502/?utm_source=PRN
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