Press release
Data Analytics Outsourcing Market to Grow at 25.8% CAGR to Reach $19.36 Billion by 2027 Led by Fractal Analytics, Accenture, Capgemini, Genpact, Infosys, Mu Sigma, Wipro, WNS, ZS Associates
Data Analytics Outsourcing Market Worth USD 19.36 Billion by 2027
Every crucial and decisive detail for the development of the market and the restraining factors that may hamper the market in near future is mentioned with solutions in the report. Segmentations of the market are studied specifically to give profound knowledge for supplementary market investments.
The global data analytics outsourcing market valued at US$ 2.49 Billion in 2018 and is expected to grow at a CAGR of 25.8% during the forecast period 2019 – 2027, to account to US$ 19.36 Billion by 2027.
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The businesses worldwide have realized the importance of analytics for staying ahead in the competitively intensifying environment. The management professional in the companies is increasingly adopting quantified data analytics, predictive analytics, and risk analytics techniques as a base for their critical decisions such as operational policies and strategic plans. Analytical abilities like forecasting of future events and personalized customer experience are significantly driving the importance of the data as an essential fragment of businesses. However, procurement of skilled data scientist or a team of analysts is at present challenging because of a lack of experienced professionals and increased operational cost. Owing to such factor, the data analytics outsourcing market is expected to witness tremendous growth.
Market Insights: Development of new applications is expected to bolster the data analytics outsourcing market growth during the forecast period
Analytics outsourcing in the coming years is projected, to include a wide range of areas. Fraud analytics in the field of retail banking, cloud-based business analytics, customer analytics for the energy and utility sector (smart metering) and analytics from social network data mining are projected to become the emerging trends in the data analytics outsourcing market.
Prescriptive Data Analytics market to witness the highest CAGR growth:
Prescriptive analytics is relatively a new analytics field that enables users to “prescribe” numerous different probable actions to and advise them towards an effective solution. In general, prescriptive analytics provides guidance. It attempts to enumerate the consequence of future decisions to guide on probable outcomes before the decisions are taken. Prescriptive analytics outrun descriptive and predictive analytics by recommending one or more probable courses of action. Fundamentally they predict numerous futures and enable businesses to evaluate several potential outcomes based upon their activities. Prescriptive analytics is expected to witness the highest CAGR in the data analytics outsourcing market during the forecast period.
Data Analytics Outsourcing Market - Company Profiles
• Accenture
• Capgemini SE
• Fractal Analytics Inc.
• Genpact
• Infosys Limited
• Mu Sigma Inc.
• Tata Consultancy Services Limited
• Wipro Limited
• WNS (Holdings) Ltd.
• ZS Associates, Inc.
Answers that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the Data Analytics Outsourcing Market
• Key market trends cracking up the growth of the Data Analytics Outsourcing Market.
• Challenges to market growth.
• Key vendors of Data Analytics Outsourcing Market.
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Data Analytics Outsourcing Market.
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major regions.
Application Insights:
The global data analytics outsourcing market by application is led by marketing analytics. Marketing analytics allows marketers to evaluate, manage and examine marketing performance to exploit its effectiveness and enhance return on investment. Other than evident sales and lead generation applications, marketing analytics can provide keen insights into customer preferences and trends that can be further used for future marketing as well as business decisions. Marketing analytics considers all marketing efforts from different channels over a time-span that are essential for efficient decision making as well as sound, efficient program execution.
End-user Insights:
The data analytics outsourcing market by end-user is segmented based on BFSI, healthcare, retail, manufacturing, telecom, media & entertainment, and others. The media & entertainment industry is foreseen to create significant space in the data analytics outsourcing market during the forecast period. Presently, consumers across the globe are viewing and sharing more content online, thus emphasizing the significance of data analytics in media & entertainment. The huge amounts of data accelerate enormous opportunities for the media industry in content planning, bundling, and distribution.
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Strategic Insights:
The companies in the value chain of the data analytics outsourcing market are actively adopting skills and investing in procurement of advanced analytics capabilities by extending their partnership with analytical platform providers. For instance, WNS announced its partnership with Portrix Logistic Software GmbH (PLS), logistics IT solutions provider in Germany. Under the partnership, WNS and PLS will work together to offer their Global Price Management (GPM) solutions to freight forwarders and shippers, which will help them to enhance outcomes. Few of the recent developments are listed below:
2019: Infosys announced its plan to expand its footprint in Japan and formed its joint venture with Hitachi, Panasonic, and Pasona to build solutions that use digital technology platforms to improve indirect procurement.
2018: Wipro entered into a partnership with Lone Star. The partnership between two companies enables Lone Star’s analytic services to improve the IIoT platform of Wipro. This integration would help to predict the future results within a real-time and also turn the knowledge into action.
2017: WNS announced its partnership with Portrix Logistic Software GmbH (PLS), logistics IT solutions provider in Germany. Under the partnership, WNS and PLS will work together to offer their Global Price Management (GPM) solutions to freight forwarders and shippers, which will help them to enhance outcomes.
Global Data Analytics Outsourcing Market – By Type
• Descriptive Data Analytics
• Predictive Data Analytics
• Prescriptive Data Analytics
Global Data Analytics Outsourcing Market – By Application
• Sales Analytics
• Marketing Analytics
• Risk & Finance Analytics
• Supply Chain Analytics
• Others
Global Data Analytics Outsourcing Market – By End-user
• BFSI
• Healthcare
• Retail
• Manufacturing
• Telecom
• Media & Entertainment
• Others
Global Data Analytics Outsourcing Market – By Geography
• North America
o U.S.
o Canada
o Mexico
• Europe
o France
o Germany
o Italy
o Russia
o UK
o Rest of Europe
• Asia Pacific (APAC)
o South Korea
o China
o India
o Australia
o Japan
o Rest of Asia Pacific
• Middle East and Africa (MEA)
o Saudi Arabia
o UAE
o South Africa
o Rest of MEA
• South America
o Brazil
o Argentina
o Rest of South America (SAM)
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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We are a specialist in Technology, Healthcare, Manufacturing, Automotive and Defense.
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