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Data Analytics Outsourcing Market Forecast 2025-2034: Analysing Major Trends, Opportunities, and Growth Drivers
Data Analytics Outsourcing Market Size
The market size of data analytics outsourcing has seen a significant expansion recently. It is anticipated to surge from $16.22 billion in 2024 to $22.11 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 36.3%. The historic growth period's expansion can be associated with factors such as the emergence of big data, increasing challenges in data management, innovations in cloud computing, proactive adoption of data-centered decision making, cost-effective workforce in outsourcing markets, demand for business intelligence, and the swift digitization of businesses.
In the coming years, the size of the data analytics outsourcing industry is predicted to experience remarkable expansion, ballooning to $75.73 billion in 2029, with a compound annual growth rate (CAGR) of 36.0%. The forecast growth is primarily driven by the escalating need for real-time data insights, greater adoption of AI and machine learning, advanced developments in predictive analytics, the emergence of IoT-connected devices, growing remote work arrangements, increased dependence on cloud-based analytics, and stricter regulatory mandates surrounding data management. Key trends for the forecast period comprise of a surge in integration of AI-led analytics platforms, heightened emphasis on data privacy and security, increasing demand for tailored analytics services, a rise in partnerships between analytics suppliers and different sectors, an uptick in personalized analytics solutions, a greater concentration on sustainability metrics, and a movement towards making analytics a central business operation.
What Key Elements Are Boosting Growth in the Data Analytics Outsourcing Market?
The escalating quantity and intricacy of data are set to boost the expansion of the data analytics outsourcing market in the future. Data volume denotes the total data generated, while complexity pertains to the varying nature and interconnections among the data, which can make its management challenging. The surge of digital technologies contributes greatly to the growth in both the amount and complexity of data originating from various sources, including social media and the internet of things (IoT). Outsourcing data analytics allows corporations to employ professional tools and teams specifically designed for managing sizable and complicated datasets in a more efficient manner. To illustrate, a report released by The Linux Foundation, a non-profit consortium in the US, indicated that the data growth for an average end-user organization reached a remarkable 2,208 TB in 2022, marking an increase of 215.43%, which is three times the 700 TB recorded in 2021. Consequently, the escalating quantity and intricacy of data is fueling the expansion of the data analytics outsourcing market.
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Who Are the Major Industry Players Fueling Data Analytics Outsourcing Market Expansion?
Major companies operating in the data analytics outsourcing market are accenture* PLC, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, HCL Technologies Limited, Wipro Limited, Tech Mahindra Limited, Genpact Limited, Flatworld Solutions Inc., WNS (Holdings) Limited, Mu Sigma Inc., Invensis Technologies Private Limited, Course5 Intelligence Private Limited, Helmes AS, Gramener Inc., ElectrifAi LLC
How Is the Data Analytics Outsourcing Market Evolving?
Pioneering firms in the data analytics outsourcing market are evolving next-generation healthcare data and analytic ecosystems to augment their services and address the rising need for effective, data-led decision-making in the healthcare industry. A next-generation healthcare data and analytic ecosystem is a sophisticated infrastructure designed to harmonize advanced technologies and data management instruments specifically for healthcare. For instance, in May 2024, Health Catalyst, Inc., an American data analytics technology and solution supplier, unveiled Health Catalyst Ignite, a cutting-edge data and analytics platform devised for healthcare organizations. This progressive system fuses state-of-the-art technologies, healthcare-oriented data models, and accessible tools within a single platform. It offers amplified data management clarity and authority, allowing organizations to transition from antiquated, retrospective analysis to future-oriented, predictive insights using machine learning and artificial intelligence (AI).
How Is the Segmentation of the Data Analytics Outsourcing Market Defined?
The data analytics outsourcing market covered in this report is segmented -
1) By Type: Descriptive; Predictive; Prescriptive
2) By Application: Marketing Analytics; Human Resource (HR) Analytics; Financial Analytics; Supply Chain Analytics; Sales Analytics; Other Applications
3) By End User: Healthcare; Banking, Financial Services, And Insurance (BFSI); Retail And E-Commerce; Manufacturing; Telecommunications; Media And Entertainment; Other End Users
Subsegments:
1) Descriptive: Data Aggregation and Reporting; Historical Trend Analysis; Performance Monitoring
2) Predictive: Forecasting Models; Risk Assessment and Management; Customer Behavior Prediction
3) Prescriptive: Optimization Models; Decision Support Systems; Scenario Analysis and Simulation
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What Is the Leading Region in the Data Analytics Outsourcing Market?
North America was the largest region in the data analytics outsourcing market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the data analytics outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Data Analytics Outsourcing Global Market Report?
- Market Size Analysis: Analyze the data analytics outsourcing Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the data analytics outsourcing Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the market.
- Market Contribution: Evaluate contributions of different segments to the overall data analytics outsourcing market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the data analytics outsourcing market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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