According to IMARC Group’s latest report, titled “Data Analytics Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, The global data analytics outsourcing market reached a value of US$ 3.04 Billion in 2020. Data analytics outsourcing is a cooperation model wherein a company relies on third-party applications and vendors for analyzing data. It increases the flexibility of an organization and enables them to use updated tools and services for their data. It also assists in obtaining actionable insights from large amounts of data. Consequently, it finds extensive applications in different industries, such as retail, automotive, healthcare, manufacturing, IT & telecommunications, and banking, financial services, and insurance (BFSI).
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Increasing digitalization and the growing utilization of cloud-computing services represent one of the significant factors driving the market. Apart from this, the escalating demand for specialized analytical tools, along with technological advancements like the integration of connected devices with the Internet of Things (IoT), is strengthening the growth of the data analytics outsourcing market. Furthermore, the increasing use of social media platforms is offering lucrative opportunities to organizations for understanding user behavior and market trends. This, in turn, is projected to fuel the market growth. Looking forward, IMARC Group expects the market to grow at a CAGR of 21.5% during 2021-2026.
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Competitive Landscape with Key Players:
- Fractal Analytics Inc.
- Genpact Ltd.
- Infosys Ltd.
- Mu Sigma Inc.?
- Electrifai LLC
- Tata Consultancy Services Ltd.
- ZS Associates Inc.
Data Analytics Outsourcing Market Segmentation:
Breakup by Type:
Breakup by Application:
- Sales Analytics
- Marketing Analytics
- Finance and Risk Analytics
- Supply Chain Analytics
Breakup by Component:
Breakup by Vertical:
- IT and Telecom?
Breakup by Region:
- 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
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Key highlights of the report:
- Market Performance (2015-2021)
- Market Outlook (2021-2026)
- Market Trends
- Market Drivers and Success Factors
- The Impact of COVID-19 on the Global Market
- Value Chain Analysis
- Structure of the Global Market
- Comprehensive mapping of the competitive landscape
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