Data Analytics Outsourcing Market
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<strong>Data</strong> <strong>Analytics</strong><br />
<strong>Outsourcing</strong> <strong>Market</strong><br />
Opportunity Analysis and Industry Forecast, 2016-2023<br />
Global Opportunity Analysis and<br />
Industry Forecast,<br />
2014-2020
Introduction<br />
• The global <strong>Data</strong> <strong>Analytics</strong> <strong>Outsourcing</strong> <strong>Market</strong> is expected to garner $5.9<br />
billion by 2020, registering a CAGR of 29.1% during the period 2015-2020.<br />
• A significant decrease in data storage costs over the years has accelerated<br />
the market.<br />
• <strong>Data</strong> analytics tools enable organizations to make better decisions,<br />
increase efficiency, reduce operational costs, provide customized<br />
offerings, and enhance customer services.<br />
• Asia-Pacific is the global hub for data analytics outsourcing, whereas<br />
LAMEA and Eastern Europe are forecast to rapidly grow in the market.
<strong>Data</strong> <strong>Analytics</strong> <strong>Outsourcing</strong> <strong>Market</strong><br />
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<strong>Outsourcing</strong> <strong>Market</strong> study @<br />
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Overview<br />
• Organizations are increasingly turning towards data analytics outsourcing<br />
due to its numerous benefits such as strategic decision making,<br />
operational efficiency, reduced operational costs, and enhanced<br />
customer service among others.<br />
• The generation of massive amounts of unstructured data, owing to<br />
growing adoption of mobile devices, increasing influence of social media<br />
and affordable data storage solutions, drives the growth of the global<br />
data analytics market.<br />
• <strong>Data</strong> analytics is implemented across different business functions such as<br />
sales, marketing, risk & financial analytics, and similar others. <strong>Market</strong>ing<br />
analytics accounts for a major share in the global market, followed by<br />
sales analytics.<br />
• BFSI is a major industry that outsources its data analytics requirements.
KEY BENEFITS<br />
• The global data analytics outsourcing market is forecast to grow at a high<br />
rate owing to large amount of data generated by enterprises, increased<br />
adoption of mobile devices and social media, and reduction in data storage<br />
prices<br />
• The BFSI industry accounts for a major share in thedata analytics<br />
outsourcing market<br />
• The segment of prescriptive analytics would register the highest CAGR<br />
during 2015-2020<br />
• Asia-Pacific is the highest revenue generating region in thedata analytics<br />
outsourcing market
<strong>Market</strong> Segmentation: By Application<br />
• Sales <strong>Analytics</strong><br />
• <strong>Market</strong>ing <strong>Analytics</strong><br />
• Finance and Risk <strong>Analytics</strong><br />
• Supply Chain <strong>Analytics</strong><br />
• Others
<strong>Market</strong> Segmentation: By Geography<br />
• Asia-Pacific is the global hub for data analytics outsourcing owing to its<br />
highly skilled workforce, efficient telecom & technology infrastructure<br />
and lower labor costs.<br />
• Most of the demand for data analytics outsourcing is generated by<br />
North America and Western Europe.<br />
• However, in the near future, LAMEA and Eastern Europe are forecast to<br />
rapidly grow as data analytics outsourcing markets.
Key Players<br />
The major players in the market include Fractal <strong>Analytics</strong> Ltd, Tata Consultancy<br />
Services Ltd., ZS Associates, Inc., WIPRO Ltd., Opera Solutions, and Mu Sigma, Inc.<br />
and others. These players introduce new products to enhance their portfolios and<br />
cater to the growing needs of the consumers. Leading vendors in the market are<br />
collaborating with each other to strengthen and expand their market and<br />
geographic presence.<br />
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<strong>Market</strong> Segmentation: By Application<br />
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