Data Analytics Outsourcing Market to Surpass USD 81.40 Billion by 2030 Owing to Increased Demand for Actionable Insights

Data Analytics Outsourcing involves leveraging third-party expertise to analyze vast datasets stemming from AI, RPA, connected devices, and big data repositories. Expanding Opportunities in Descriptive Analytics, Empowering Industries through Enhanced Data-driven Strategies and Operational Efficiency

The global Data Analytics Outsourcing Market is poised to exceed USD 81.40 billion by 2030, driven by the escalating demand for actionable insights. The market, valued at USD 7.84 billion in 2022, is projected to witness a remarkable compound annual growth rate (CAGR) of 33.98% during the forecast period from 2023 to 2030. This significant growth is attributed to the increasing reliance on third-party applications and organizations for analyzing vast data generated from AI, RPA, connected devices, and big data repositories.

Data analytics outsourcing involves leveraging third-party applications and organizations to analyze data for generating actionable insights. These insights, derived from AI, RPA, connected devices, and big data, enhance operational efficiency and revenue for various industries, including BFSI, automotive, healthcare, retail, manufacturing, and IT & telecommunications.

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Key Players:

The major players in the market are Genpact Ltd., Capgemini, International Business Machine Corporation., ZS Associates Inc., Trianz, Tata Consultancy Services Ltd., Fractal Analytics Inc., Opera Solutions, LLC, Associates, Inc., and others in final Report.

Market Analysis:

The data analytics outsourcing market is poised to maintain dominance due to the adoption of analytics techniques, especially in analyzing structured and unstructured data. This trend creates opportunities for descriptive analytics. Additionally, the rise of e-commerce and increased adoption of connected devices contribute to market growth. The transformation of various industry verticals into smart organizations further propels the adoption of analytics.

Segment Analysis:

- By end-user:
The BFSI segment leads the global data analytics outsourcing market, driven by growing transactional data and the rising need for fraud & risk analytics solutions. The sector's increasing incidences of money laundering further boost the adoption of data analytic outsourcing solutions.
- By application:
Market analytics dominates other segments due to the emergence of IoT-based technologies and the high adoption rate of data-driven decision-making practices. The segment also benefits from increased investment in digital marketing and the growing deployment of chatbots and other applications.

Market Segmentation and Sub-Segmentation included are:

By Type:
• Descriptive
• Predictive
• Prescriptive

By End-use:
• BFSI
• Telecom
• Retail
• Healthcare
• Media & Entertainment
• Manufacturing
• Others

By Application:
• Sales Analytics
• Marketing Analytics
• Finance & Risk Analytics
• Supply Chain Analytics
• Others

Key Regional Developments:

North America is expected to dominate the global data analytics outsourcing market, fueled by advanced digital technology adoption, a well-developed IT infrastructure, and the generation of large amounts of data across various departments. The region's increased demand for data analytics outsourcing is driven by advanced users and growing volumes of data from production, procurement, sales & marketing, and human resources.

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Key Takeaways for Data Analytics Outsourcing Market:

• Rising Demand: The market is witnessing a surge in demand for data analytics outsourcing, driven by increased adoption across diverse industries.
• BFSI Dominance: The BFSI segment holds the largest market share, fueled by the growing need for fraud and risk analytics solutions.
• North America Leading: North America is expected to lead the market, propelled by advanced digital technology adoption and a robust IT infrastructure.

Recent Developments:

• In 2022, Fractal Analytics Ltd. acquired Neal Analytics, a cloud, data, engineering, and AI consultancy partner.
• ZS Associates, Inc. introduced ZAIDYNä Clinical Development and announced the acquisition of Intomics, a Danish bioinformatics and systems biology startup.

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Table of Contents:

1. Introduction
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1. COVID-19 Impact Analysis
4.2. Impact of Ukraine- Russia war
4.3. Impact of Ongoing Recession on Major Economies
5. Value Chain Analysis
6. Porter's 5 Forces Model
7. PEST Analysis
8. Data Analytics Outsourcing Market, By Type
9. Data Analytics Outsourcing Market By End-use
10. Data Analytics Outsourcing Market, By Application
11. Regional Analysis
12. Company Profile
13. Competitive Landscape
14. USE Cases and Best Practices
15. Conclusion

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