Data Analytics Outsourcing Market shows future growth with leading industry like ACCENTURE, CAPGEMINI, FRACTAL ANALYTICS, TCS, WIPRO, ZS, COGNIZANT, EVALUESERVE, EXL SERVICE, GENPACT, GRAMENER

The data analytics outsourcing market was valued at USD 1.90 billion in 2017, and is expected to reach USD 6.07 billion by 2023 at a CAGR of 21.35% during the forecast period of 2018 - 2023. The data analytics outsourcing market has been segmented based on type into business analytics, CRM analytics, supply chain analytics, risk analytics, location analytics, financial analytics, and web analytics. The end-user industries are limited to aviation, agriculture, automotive, manufacturing & retail, BFSI, healthcare, and telecom. The regional landscape of the report includes North America, Europe, Asia-Pacific, and Rest of the World.

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Retail Has a Major Market Share
Smartphone growth is also contributing to the increase in e-commerce, which is driving the analytics industry. Increase in e-commerce sales and companies has been significant and is expected to increase even more. With many companies coming up, the competitive landscape is driving the companies to acquire analytics for competitive advantage. The primary benefactors are marketing analytics companies, as e-commerce companies are trying to acquire as many customers as possible by providing customized solutions/ products.

Key Recent Developments
December 2017: Accenture has signed consulting and outsourcing agreements with Shionogi & Co., Ltd and its subsidiary company, Shionogi Digital Science Co., Ltd to help Shionogi with its digital transformation initiative.
As part of the agreement, Accenture will help Shionogi develop the IT strategy and roadmap for its digital transformation initiative as the company accelerates its investments in cyber security, cloud, and other digital technologies, which Accenture refers to as “New IT.” Also, Accenture will help Shionogi enhance the digital talent and capabilities of its IT division through a knowledge-transfer program and help Shionogi accelerate the digitalization of its business and enhance its data utilization capabilities.

Major Players –
ACCENTURE, CAPGEMINI, FRACTAL ANALYTICS, TCS, WIPRO, ZS (ZS ASSOCIATES), COGNIZANT, EVALUESERVE, EXL SERVICE (EXL), GENPACT, GRAMENER, HPE, IBM, INFOSYS, LATENT VIEW (LATENT VIEW ANALYTICS), AND WNS GLOBAL, amongst others.

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High Growth Rate of Data is Driving the Market
The number of smartphones has been increasing for the past 5-6 years; this means that a huge amount of data in the form of text and voice data is generated, which presents a massive opportunity for the telecom industry to generate insights from it. Not only has the number of smartphones increased but the time an individual spends on it has also increased. In the US, a smartphone user on an average spends 4.7 hours on his phone; this could help in the analysis to generate personalized content. Such huge volume of data and outsourcing data to third parties has a great return on investment and the analysis of such data is useful for developing business, thus driving the data analytics outsourcing market during the forecast period.

Asia Pacific Occupies a Major Share amongst Other Regions
India comes out as the leader with about 70% of the market, as retail and manufacturing are the majorly outsourced end-user verticals due to exhaustive use of marketing analytics. Most of the revenue is being generated from North America.

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