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Data Analytics Outsourcing Market Analysis Revealing Key Drivers & Growth Trends through 2020 | Fractal Analytics Ltd, Tata Consultancy Services Ltd., ZS Associates, Inc., WIPRO Ltd.

05-14-2020 11:12 AM CET | IT, New Media & Software

Press release from: Allied Market Research

Data Analytics Outsourcing Market Analysis Revealing Key

Organizations are increasingly turning towards data analytics outsourcing due to its numerous benefits such as strategic decision making, operational efficiency, reduced operational costs, and enhanced customer service among others. The generation of massive amounts of unstructured data, owing to growing adoption of mobile devices, increasing influence of social media and affordable data storage solutions, drives the growth of the globaldata analytics market. Stiff competition among established players in the market encourages them to adopt data analytics solutions to gain customer and market insights to increase sales and strengthen their market presence.

The global market is expected to garner $5.9 billion by 2020, registering a CAGR of 29.1% during the period 2015-2020.

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Data analytics helps an organization achieve valuable insights from huge sets of data. The term refers to subcontracting of data and statistical research, in addition to applied computational resources, for competent decision-making. Large data collection in organizations across different segments has elevated the necessity for making effective business judgments based on market analysis and insights. Most of the organizations are progressively distinguishing between benefits and productivity of applying data analytics.

The major players in the market include Fractal Analytics Ltd, Tata Consultancy Services Ltd., ZS Associates, Inc., WIPRO Ltd., Opera Solutions, and Mu Sigma, Inc. and others. These players introduce new products to enhance their portfolios and cater to the growing needs of the consumers. Leading vendors in the market are collaborating with each other to strengthen and expand their market and geographic presence.

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Data analytics is implemented across different business functions such as sales, marketing, risk & financial analytics, and similar others. Marketing analytics accounts for a major share in the global market, followed by sales analytics. A large number of organizations use marketing analytics for measurement and analysis of marketing performance and maximizing return on investment. Asia-Pacific is the leading provider of data analytics outsourcing services with India, China, and Philippines being the prominent providers. Asia-Pacific is the global hub for data analytics outsourcing owing to its highly skilled workforce, efficient telecom & technology infrastructure and lower labor costs. Most of the demand for data analytics outsourcing is generated by North America and Western Europe. However, in the near future, LAMEA and Eastern Europe are forecast to rapidly grow as data analytics outsourcing markets.

BFSI is a major industry that outsources its data analytics requirements. Greater availability of transactional data is encouraging banks and financial institutes to pursue data analytics in order to minimize risks, reduce costs, optimize profits and offer customized solutions. BFSI sector accounted for around 33% of the market revenue in 2014, followed by healthcare. Moreover, the increased data generation by organizations across various industries such as retail, telecom, and media & entertainment, coupled with increased need for taking successful business decisions based on market analysis and insights, has driven the adoption of data analytics outsourcing among these sectors. Media & entertainment industry is forecast to grow at the highest CAGR during the forecast period.

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CHAPTER 1 INTRODUCTION

1.1 Report description
1.2 Key benefits
1.3 Key market segments
1.4 Research methodology

1.4.1 Secondary research
1.4.2 Primary research
1.4.3 Analyst tools and models

CHAPTER 2 EXECUTIVE SUMMARY

2.1 CXO perspective

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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