This market research report presents detailed segmentation of the data analytics outsourcing market by end users (manufacturing and retail/wholesale, BFSI, healthcare, and telecom). It provides market shares and forecast for its key regions, including Americas, EMEA, and APAC. Key findings in this report also include an analysis of the leading vendors such as Accenture, Capgemini, Fractal Analytics, and TCS.
Technavio has released updated information on the data analytics market, with the publication of its new report, global data analytics outsourcing market. The data analytics outsourcing market is expected to generate a revenue size worth US $3 billion between 2015 and 2019. Manufacturing and retail/wholesale, BFSI, and healthcare sectors dominate this market because of the mandatory requirement for regulatory compliance and transparency in these sectors.
APAC is the leading region in the global data analytics outsourcing market. India is the biggest outsourcing market in APAC with a market share of around 70%, owing to the presence of an extensive analytics talent pool and high-quality service offerings.
“Outsourcing the data analytics processes aids organizations in gaining a competitive edge by maintaining a leaner workforce and reducing overhead expenses for equipment, training, and physical office space. Of late, the collaboration between data analytics and software-as-a-service (SaaS) has led to SaaS business analytics models. SaaS lowers the operational expenses, onsite installations, IT costs and improves the analytics workforce commitment,” says Navin Rajendra, Lead Analyst, IT Services, Technavio Research.
Currently, the data analytics market is observing rising adoption of social analytics, mobile analytics and predictive analytics in the data management and outsourcing procedures. Social analytics identifies consumer procurement behaviour and choice patterns through social network data such as blogs, online posts, tweets, and mobile text messages. Similarly, mobile devices and smartphones have facilitated GPS navigation, people tracking, remote personal car safety, geo-targeted mobile advertising, and toll collection. Moreover, companies are implementing predictive analytics to reduce risk and fraud chances by forecasting future events.
The leading vendors in the global data analytics outsourcing market are Accenture, Capgemini, Fractal Analytics, and TCS. The providers in the market are classified based on the service offered such as IT/BPO, KPO, and pure-play data analytics. The market is in its early stages and vendors can increase their footprint by increasing global delivery capabilities, and helping clients address data analytics opportunities and risks.
A more detailed analysis is available in the Technavio report, Global Data Analytics Outsourcing Market 2015-2019.
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