San
Francisco, 29 November 2018, The global data analytics outsourcing market is expected to reach USD 10,321.6
million by 2025, according to a new study conducted by Grand View Research,
Inc. The growing need for outsourcing service among organizations to manage
growing customer’s data is expected to drive the growth of the market over the
forecast period.
Data analytics outsourcing
allows the companies to reduce operational costs, enhance decision-making,
deliver customized offerings, and improve customer services. Increasing use of
social media, increase in data generation, and reduction in prices of data
storage are expected to accelerate the market growth. Additionally, growing
number of smartphone users worldwide has led to the generation of large amounts
of data in the form of voice and text and this is further anticipated to propel
the demand for data analytics outsourcing over the forecast period.
The growing awareness about the
advantages and improved productivity gained through data analytics outsourcing
is expected to drive the market growth. Increasing e-commerce sales across the
globe are generating a considerable amount of data that needs to be managed by
an outsourcing facility. Increasing adoption of SaaS-based analytics and
evolution of Artificial Intelligence (AI) are further anticipated to drive
demand for data analytics outsourcing.
Most companies across the globe
prefer using data analytics to gain insights into large amounts of data through
several qualitative and quantitative techniques for expanding market and
consumer base. There has been a substantial increase in the data produced by
organizations, owing to the expansion of multimedia content, which in turn, is
expected to propel the growth of the market over the forecast period.
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Further key findings from the report suggest:
·
The prescriptive segment is
anticipated to grow at the highest CAGR owing to the emergence of advanced
technologies such as Internet of Things (IoT) and big data.
·
The marketing analytics segment
accounted a significant market share in 2017. This growth can be attributed to
the increasing investment by organizations in marketing analytics-based
applications to optimize return on investment and its effectiveness.
·
The BFSI segment is anticipated
to maintain its dominance in the market over the forecast period owing to
increasing adoption of data analytics outsourcing to minimize risk, reduce
costs, and to understand changing consumer preferences
·
North America is expected to
dominate the market over the forecast period and is anticipated to reach USD
3,406.1 million by 2025 owing to the growing adoption of marketing analytics by
enterprises to offer best services to clients.
·
The key industry participants
include Accenture; Associates, Inc.; Tata Consultancy Services Ltd.; Genpact
Ltd.; Capgemini; Fractal Analytics Inc.; Wipro Ltd.; Opera Solutions, LLC; ZS
Associates Inc.; and International Business Machine Corporation.
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Grand View Research has segmented the
global data analytics outsourcing market on the basis of type, application,
end-use, and region:
Data Analytics Outsourcing Type
Outlook (Revenue, USD Million; 2014 - 2025)
·
Descriptive
·
Predictive
·
Prescriptive
Data Analytics Outsourcing
Application Outlook (Revenue, USD Million; 2014 - 2025)
·
Sales Analytics
·
Marketing Analytics
·
Finance & Risk Analytics
·
Supply Chain Analytics
·
Others
Data Analytics Outsourcing
End-use Outlook (Revenue, USD Million; 2014 - 2025)
·
BFSI
·
Telecom
·
Retail
·
Healthcare
·
Media & Entertainment
·
Manufacturing
·
Others
Data Analytics Outsourcing
Regional Outlook (Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
China
o
India
o
Japan
·
Latin America
o
Brazil
o
Mexico
·
Middle East & Africa
Access Full Press Release of this Report:
www.grandviewresearch.com/press-release/global-data-analytics-outsourcing-market
www.grandviewresearch.com/press-release/global-data-analytics-outsourcing-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and
consulting company, registered in the State of California and headquartered in
San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
For more information: www.grandviewresearch.com/
