Data Analytics Outsourcing Market Aims To Expand At Double-Digit Growth Rate | Fractal Analytics, Tata Consultancy Services, ZS Associates

Data Analytics Outsourcing Market , including assessments of business solutions, studies and advancements, applications, advantages, benefits, and breadth. Additionally, included in this study are the market's significant accomplishments, studies and upgrades, new product introductions, a local boom, fierce competition against the norm, and local scale. The business report analysis and insights contain the boom in producer guidance sales, percentage, supply, opportunity, problems, and improvement restraints.

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Governmental organizations are boosting their maintenance budgets for system infrastructure while simultaneously funding initiatives for project development, modernization, and enhancement. As a result of the investments' success, ICT vendors now annually set aside funding for the growth of the online market. Global ICT exports are anticipated to increase 3.9% on average year from US$ 784.3 billion in 2021 to US$ 955.19 billion in 2030. Global supply has increased by 9.5% yearly since 2009. In terms of global ICT exports in 2021, Ireland came in first place with US$ 169. 32 billion. The rankings placed China at number 4, the United States at number 2, and India at number 3. Since 2009, Brunei has increased by 228.2% year over year, while Sierra Leone has decreased by 61.7% year over year.

By 2026, European ICT Revenue is likely to increase by 1.5% annually, from US$ 1,802,413 Million in 2021 to US$ 1,933,429 Million. The European market has increased by 3.1% annually since 2016. In terms of ICT Revenue in Europe in 2021, Germany came in first place with US$ 339,074 million. Positions 2, 3, and 4 in this ranking were held by the United Kingdom, France, and Ireland, respectively. Since 2016, Malta has increased by 16.5% year over year, while Italy has decreased by 0.2%.

Data analytics outsourcing denotes outsourcing of data and statistical research, in addition to applying computational resources for effective decision-making and advanced business solutions to third party vendors. Data analytics tools enable organizations to make better decisions, increase efficiency, reduce operational costs, provide customized offerings and enhance customer services. Several companies prefer using data analytics to analyze large amount of data through various quantitative and qualitative techniques to gain market and customer insights. There has been a significant increase in the data generated by organizations, owing to greater adoption of mobile devices, social media, and growing development of multimedia content.

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Aggrandized data generation by organizations across various sectors and decreasing cost of data storage solutions have fostered the growing need for taking successful business decisions based on market analysis and insights. Most of the organizations are increasingly recognizing the benefits and profitability of applying data analytics, however, lack of in-house skilled resources and expertise is driving them towards outsourcing data analytics. The data analytics outsourcing market is in its nascent stage and is expected to grow rapidly during the forecast period, owing to the growing awareness about advantages and increased productivity obtained from data analytics outsourcing.

However, privacy concerns of confidential data and data security issues restrict the growth of the data analytics outsourcing market. However, increasing investment in social analytics and real-time analytics has provided ample growth opportunities to the market players. The vendors in the market offer a wide range of data analytics outsourcing services to help consumers in formulating effective business strategies and maximizing profits. In addition, the service providers in the market are acquiring and collaborating with top companies in the market to enhance their offerings in the market and expand their customer base. For instance, in November 2013, Fractal Analytics collaborated with Sequoya, which is a customer management solutions provider.

This partnership is aimed at providing predictive analytics solutions to retailers and consumer packaged goods manufacturers, further driving them towards real-time pricing and promotion decisions.

The world data analytics outsourcing market is segmented on the basis of type, application, vertical, and geography. Based on the type of data analytics outsourcing, the market is segmented into predictive, descriptive, and prescriptive. The application segment is categorized into sales analytics, marketing analytics, risk & finance analytics, supply chain analytics, and others. Data analytics outsourcing is implemented across domains, such as BFSI, telecom, retail, healthcare, media & entertainment, and others. This report comprises a detailed geographic distribution of the market across North America, Europe, APAC and LAMEA.

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KEY BENEFITS

This report provides an in-depth analysis of data analytics outsourcing market with current and future trends to elucidate the imminent investment pockets in the market
Current and future trends have been outlined to determine the overall attractiveness and single out profitable trends to gain a stronger foothold in the market
The report provides information regarding key drivers, restraints and opportunities along with impact analysis
Quantitative analysis of the current market and estimations during the period of 2015-2020 have been provided to showcase the financial appetency of the market
Porter's Five Forces Model and SWOT analysis of the industry illustrate the potency of the buyers and suppliers participating in the market
Value chain analysis in the report provides a clear understanding of the roles of stakeholders involved in the value chain

KEY PLAYERS

Fractal Analytics Ltd.
Tata Consultancy Services Ltd.
ZS Associates, Inc.
WIPRO Ltd.
Genpact Ltd.
Capgemini
International Business Machines Corporation
Mu Sigma, Inc.
Opera Solutions

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DATA ANALYTICS OUTSOURCING MARKET SEGMENTATION

The market is segmented on the basis of type, application, vertical and geography.

MARKET BY TYPE

Descriptive
Predictive
Prescriptive

MARKET BY APPLICATION

Sales Analytics
Marketing Analytics
Risk & Financial Analytics
Supply Chain Analytics
Others

MARKET BY VERTICAL

BFSI
Telecom
Retail
Healthcare
Media & Entertainment
Others

MARKET BY GEOGRAPHY

North America
Europe
APAC
LAMEA

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