Data Analytics Outsourcing Market By Type (Predictive, Descriptive and Prescriptive); By End Use Industry (Finance and Banking, Telecom, Retail, Insurance, Healthcare, Media & Entertainment and Others); By Application (Marketing Analytics, Sales Analytics, Supply Chain Analytics, Risk & Financial Analytics and Others); By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa) - Global Market Analysis, Trends, Opportunity and Forecast, 2022-2032
Data Analytics Outsourcing Market Overview and Definition
The global data analytics outsourcing market size was valued at around USD 8.1 billion in 2022 and is projected to grow at a compound annual rate of growth (CAGR) of around 26.1% from 2022 to 2032.The market size is projected to succeed in USD 82.7 billion by 2032.
Data analytics outsourcing is a service where companies hire external vendors to perform data analysis on their behalf. This can include a wide range of activities such as data management, data modeling, statistical analysis, and predictive modeling. The goal of data analytics outsourcing is to help companies make better business decisions based on insights derived from their data.
The data analytics outsourcing market is driven by the increasing volume and complexity of data generated by businesses, as well as the need for advanced data analytics capabilities. Companies are outsourcing data analytics to external vendors to gain access to specialized skills and technologies that they may not have in-house. Outsourcing can also provide cost savings and improve efficiency by allowing companies to focus on their core business activities.
The global data analytics outsourcing market is expected to grow at a significant rate in the coming years, driven by the increasing demand for advanced data analytics capabilities, the growing adoption of cloud-based technologies, and the need for more efficient and scalable data management solutions. The market is also expected to benefit from the increasing investments in research and development by key players in the industry.
Some of the leading players in the data analytics outsourcing market include Accenture, Cognizant Technology Solutions, Deloitte Touche Tohmatsu Limited, IBM Corporation, and Infosys Limited. These companies are investing in the development of new and innovative data analytics technologies that can meet the evolving needs of their customers and create new business opportunities. They are also collaborating with other companies to expand their product portfolios and strengthen their position in the market.
The global data analytics outsourcing market is forecasted to thrive at an 26.1% CAGR to reach at a notable value by the end of 2032. Rising need for outsourcing service among organizations to manage increasing customer’s data is one of the major factors which is expected to drive the growth of global data analytics outsourcing market over the forecast period. In the regional market, North America data analytics outsourcing market is anticipated to capture the largest market share in data analytics outsourcing market over the upcoming years.
Data Analytics Outsourcing Market Segmentation
The research offers a comprehensive analysis of data analytics outsourcing market with respect to following sub-markets:
By Type -
The data analytics outsourcing market is further sub segmented by type into predictive, descriptive and prescriptive. Among this segment, the descriptive segment is anticipated to capture a large market share over the upcoming years. The global descriptive segment is expected to more than double over the upcoming years, increasing from USD XX.X Million in 2017 to USD XX.X Million by 2023.
By End Use Industry
In the end use industry segment, the data analytics outsourcing market is sub segmented into finance and banking, telecom, retail, insurance, healthcare, media & entertainment and others. Among this segment, finance and banking segment is projected to capture the largest market share, when compared with the other segment.
By Application
Further, the market of data analytics outsourcing is sub-segmented by application into marketing analytics, sales analytics, supply chain analytics, risk & financial analytics and others, out of which, marketing analytics segment is expected to capture a largest market share over the forecasted period.
Geographical Analysis
The report offers separate analysis of North America, Europe, Asia Pacific, Latin America and Middle East & Africa. In addition, further breakdown of market data and analysis of region into countries is covered in the report.
Data Analytics Outsourcing Market Competitive Landscape
The report profiles various major market players in global data analytics outsourcing market including Accenture, Capgemini, Fractal Analytics Ltd., IBM Corporation, Infosys Ltd., Mu Sigma, Inc., RSA Security LLC, Sap SE, Tata Consultancy Services Ltd., ThreatMetrix, Wipro Ltd. and other major & niche players.
Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development) and other market activities.
The study also provides company’s positioning and market share in data analytics outsourcing market.
Timeline Considered for Analysis:
- 2021: Base Year
- 2022: Estimated Year
- 2022 to 2032: Forecasted Year
Research Scope and Deliverables
Overview & Executive Summary
Market Drivers, Trends, Challenges and Opportunities
Market Size and Forecast Projections
Macroeconomic Indicators of Various Countries Impacting the Growth of the Market
Extensive Coverage of Industry Players including Recent Product Launches and Market Activities
Porter’s Five Force Analysis
Market Segmentation Analysis:
Industry report analyzes the global data analytics outsourcing market by the following segments:
- Type
- End Use Industry
- Application
Geographical Market Analysis:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Customization: We also offers customization’s in the industry report as per the company’s specific needs.
Key Questions Answered in the Global Data Analytics Outsourcing Industry Report;
- What is the overall market size in 2021? What will be the market growth during the forecast period i.e. 2022-2032?
- Which region would have high demand for product in the upcoming years?
- What are the factors driving the growth of the market?
- Which sub-market will make the most significant contribution to the market?
- What are the market opportunities for existing and entry-level players?
- What are various long-term and short-term strategies adopted by the market players?
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- Publication date: 16th January 2024
- Base year: 2022
- Forecast year: 2023-2033
- Format: PDF, PPT,Word,Excel
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