IMARC Group, a leading market research company, has recently released a report titled “Data Analytics Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global data analytics outsourcing market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How Big is the Data Analytics Outsourcing Market?
The global data analytics outsourcing market size reached US$ 8.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 44.9 Billion by 2028, exhibiting a growth rate (CAGR) of 31.5% during 2023-2028.
What are a Data Analytics Outsourcing System?
The utilization of third-party organizations and applications for information analysis is represented as data analytics outsourcing. These services are used to extract actionable insights from various amounts of data generated by artificial intelligence (AI), robotics process automation (RPA), connected devices, and big data repositories. By utilizing data science, data visualization, and statistical research tools, information patterns are analyzed to generate these insights, which in turn aid in improving operational efficiency and increasing revenues. In addition to this, outsourcing data analytics services provides organizations with increased flexibility and access to updated tools and benefits for their data. As a result, these functionalities find widespread applications across several sectors, such as automotive, healthcare, banking, financial services, and insurance (BFSI), retail, manufacturing, and IT & telecommunications.
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What are the Growth Prospects and Trends in the Data Analytics Outsourcing Industry?
The emerging trend of digitization across the globe and the extensive utilization of cloud computing services are among the primary factors driving the data analytics outsourcing market. Besides this, third-party information research organizations optimize and personalize the integration interface to enhance business operations and improve cost efficiencies, which is further augmenting the market growth. Moreover, the escalating demand for data analytics among service providers for the interpretation of information generated by social media platforms for enabling institutions to gain insights into user behaviors and trends is also catalyzing the global market. Apart from this, the elevating requirement for specialized analytical tools, the continuous technological advancements, including the incorporation of connected devices with the internet of things (IoT), and the usage of information-driven decision-making practices are acting as significant growth-inducing factors. Furthermore, the expanding online retail sector and the rising need for predictive knowledge research systems are anticipated to propel the data analytics outsourcing market over the forecasted period.
Who are the Key Players Operating in the Data Analytics Outsourcing Market?
The report has also analysed the competitive landscape of the market with some of the key players.
- Accenture
- Capgemini
- Fractal Analytics Inc.
- Genpact Ltd.
- Infosys Ltd.
- IBM
- Mu Sigma Inc.?
- Electrifai LLC
- Tata Consultancy Services Ltd.
- Trianz
- Wipro
- ZS Associates Inc.
What is Included in Market Segmentation?
The report has categorized the market based on type, application, component and vertical.
Breakup by Type:
- Descriptive
- Predictive
- Prescriptive
Based on Application:
- Sales Analytics
- Marketing Analytics
- Finance and Risk Analytics
- Supply Chain Analytics
- Others
Analysed by Component:
- Solutions
- Services
Breakup by Vertical:
- Retail?
- Automotive?
- Manufacturing?
- BFSI?
- IT and Telecom?
- Others
Regional Analysis:
- North America (United States, Canada)
- Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, South Africa, Others)
Key Highlights of The Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Market Trends
- Market Drivers and Success Factors
- Impact of COVID-19
- Value Chain Analysis
- Comprehensive mapping of the competitive landscape
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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