Data Analytics Outsourcing Market [2023-2031] Research Report by Product Type, Application | CAGR of 35.1%

The global data analytics outsourcing market size was US$ 7.5 billion in 2021. The global data analytics outsourcing market is forecast to grow to US$ 101.9 billion by 2030 by growing at a compound annual growth rate CAGR of 35.1% during the forecast period from 2022 to 2030.

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In a partnership model known as "data analytics outsourcing," a company assigns a service provider with its data in exchange for astute reports. In addition, the provider is in charge of all other service-related tasks, such as infrastructure setup and maintenance, data administration, and data analysis.

COVID-19 Impact Analysis
The COVID-19 pandemic positively affected the global data analytics outsourcing market. It is due to the significant transition from the traditional work process to digital platforms. Moreover, the growth in the work-from-home working model positively influenced the market during the study period. The pandemic is expected to have a long-term impact on the data analytics outsourcing market due to the promising potential of digitalization. Contactless payment methods have become a new normal, boosting the concept of going cash-less. Thus, all of these factors have positively affected the data analytics outsourcing market.

Regional Analysis
On the basis of region, the Asia-Pacific data analytics outsourcing market is expected to record rapid growth. It is due to rising digitalization and growth in e-commerce services across various developing nations like China and India. Moreover, the steadily developing IT infrastructure will have a promising impact on the data analytics outsourcing market during the study period.
According to the 2019 report, renowned businesses such as Analytics India Magazine and Praxis Business School are making significant investments in these fields. Thus, all of these factors will drive the growth of the Asia-Pacific data analytics outsourcing market during the forecast period.

Factors Influencing the Market
For more than ten years, businesses like FedEx and Amazon have used data analytics. With the aid of internal data scientists and analysts, Amazon has created algorithms centred on the routine demands of the customer. Thus, growing advancements in data analytics outsourcing will fuel the growth of the overall market.
Third-party solutions deliver excellent expertise from a variety of sectors, which can benefit a business in reaching goals and needs. As a result, it will contribute to the data analytics outsourcing market growth.
On the flip side, data security and privacy issues associated with data analytics outsourcing may limit the growth of the market during the forecast period.

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Competitors in the Market
• Fractal Analytics Ltd
• ZS Associates, Inc.
• Wipro Ltd.
• Tata Consultancy Services Ltd.
• IBM Corporation
• Opera Solutions LLC
• Genpact Ltd.
• Capgemini
• Mu Sigma, Inc.
• Other Prominent Players

The report furnishes an intricate comprehension of each segment, delivering potential estimations for principal applications and insights into emerging prospects. Every regional market is meticulously scrutinized to ascertain its potential for growth, development, and demand in the forthcoming years.

As of the end of 2022, the Data Analytics Outsourcing industry experienced notable growth in its workforce. Starting in January, employment within the Data Analytics Outsourcing sector exceeded its pre-COVID levels, resulting in an expansion of payrolls by over 15,000 employees throughout the course of the year. The global Data Analytics Outsourcing output demonstrated a remarkable increase of 5.2% during 2021, primarily attributed to a widespread economic upswing and a surge in demand for commodities. However, the momentum shifted in 2022, with the global industrial sector's production contracting. This reversal followed a robust expansion in 2021, fueled by altered consumer spending patterns and substantial fiscal support.

Forecasts indicate that the global Data Analytics Outsourcing output is set to rise by approximately 2.9% in 2023. This projection is underpinned by the gradual recovery of production in Western Europe from its previous troughs, as well as a rebound in output across the Asia/Pacific region. Maintaining its dominant position, China, accounting for nearly 45% of the global Data Analytics Outsourcing market, remains both its largest producer and consumer. Remarkably, China's market share has surged since 2010, when it stood at around 26%. This ascent has led to a substantial contribution to the nation's GDP. Notably excelling as a top exporter, China leads in various sectors, including silicon, PVC, and several specific segments of the Data Analytics Outsourcing market.

Market Segmentation
The global data analytics outsourcing market segmentation focuses on Type, Application, Industry Vertical, and Region.
By Type Outlook
• Descriptive
• Predictive
• Prescriptive

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By Application Outlook
• Sales Analytics
• Marketing Analytics
• Risk & Financial Analytics
• Supply Chain Analytics
• Others
By Industry Vertical Outlook
• BFSI
• Telecom
• Retail
• Healthcare
• Media & Entertainment
• Others
By Region
● North America
o The U.S.
o Canada
o Mexico
● Europe
▪ Western Europe
o The UK
o Germany
o France
o Italy
o Spain
o Rest of Western Europe
▪ Eastern Europe
o Poland
o Russia
o Rest of Eastern Europe
● Asia Pacific
o China
o India
o Japan
o Australia & New Zealand
o ASEAN
o Rest of Asia Pacific
● Middle East & Africa (MEA)
o UAE
o Saudi Arabia
o South Africa
o Rest of MEA
● South America
o Brazil
o Argentina
o Rest of South America

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Table of Contents:

Chapter 1: Introduction to the Global Data Analytics Outsourcing Industry

Chapter 3: Dynamics of the Market

Chapter 4: Profiles of Leading Companies

Chapter 5: Competition in the Global Data Analytics Outsourcing Market among Players

Chapter 6: Market Size across Global Regions

Chapter 7: Application Segments in the Global Market

Chapter 8: Segment Analysis of the Global Data Analytics Outsourcing Industry

Chapter 9: Market Chain, Sourcing Strategies, and Downstream Buyers

Chapter 10: Strategies and Key Policies by Distributors/Suppliers/Traders

Chapter 11: In-depth Analysis of Key Marketing Strategies by Market Vendors

Chapter 12: Evaluation of Market Impact Factors

Chapter 13: Forecasted Global Data Analytics Outsourcing Market Size (2023-2031)

Why is our study consequential?

Our study holds paramount importance for various reasons, a few of which include:

• Assisting businesses in gauging the viability of new or existing products or services.

• Facilitating business enterprises in the identification and cultivation of novel market segments.

• Providing a preemptive understanding of consumer demand prior to introducing new products, services, or features.

• Enhancing the overall efficacy of marketing, advertising, and promotional initiatives.

• Analyzing market trends to aid businesses in devising adaptive strategies.

• Guiding businesses in the optimal placement of their products.

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