Data Analytics Outsourcing Market Insights, 2024

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Data Analytics Outsourcing Market Share, Size, Analysis, Growth,
Trends and Forecasts to 2024 | Hexa Research
" The worldwide data analytics outsourcing market is
poised to rise at a whopping CAGR exceeding 30% from
2016 to 2024.
The global Data Analytics Outsourcing Market is projected to generate revenues surpassing USD 6 billion by
2024. It can expand at a CAGR over 30% during the forecast period (2016 to 2024). Data analytics refers to
the process that examines data sets for drawing conclusions with the aid of specialized software & related
systems. With businesses realizing the importance of effective data analysis, th e worldwide industry is
expected to report considerable gains in the forthcoming years. The paucity of resources, experience, and
knowledge is driving a number of companies to opt for data analytics outsourcing.
Data analysis leads to higher efficiency, lower operating costs, effective decision making capabilities, and
better customer service. Companies employ data analytics to examine large collections of data with the help
of qualitative & quantitative techniques. Despite its growing popularity, there ar e factors that negatively
impact its demand. Data security issues, scarcity of trained professionals for data analysis, and insufficient
awareness regarding the benefits of data analytics are factors that negatively affect demand. However,
substantial investments in real time analytics & social analytics can help restore the same over the forecast
period.
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The global Data Analytics Outsourcing Market is fragmented on the basis of types, applications, verticals, and
geographies. Types include descriptive, prescriptive, and predictive. The descriptive a nalytics segment holds
the largest share in the overall Data Analytics Outsourcing Market. It can continue expanding throughout the
forecast period. Prescriptive analytics too may grow favorably during this time owing to widespread adoption
of the same. Predictive analytics employs tools, such as machine learning, artificial intelligence, statistics, and
data mining.
As per applications, the industry is divided into supply chain analytics, risk & finance analytics, marketing &
sales analytics. Based on verticals, the categories are retail, healthcare, BFSI (banking, financial services &
insurance), telecom, and media & entertainment. Data analytics in industrial applications has been gaining
popularity over the recent past. It brings out unknown correlations, identifies customer preferences, chalks
out ongoing market trends, and present hidden patterns. Data analytics in banking & finance tackles risks
related to money laundering, card frauds, and illegal trading. Big banks and hedge funds are major end user s
of data analytics. Healthcare-related research initiatives, energy exploration, and environmental protection
are the other prominent users of data analytics.
On the basis of geographies, the global data analytics outsourcing industry is segmented into L atin America,
North America, Europe, Asia Pacific, and the Middle East & Africa. China, Philippines, and India are the three
main contributors of the Asia Pacific market. Globally, the Data Analytics Outsourcing Market is dominated by
Asia Pacific because of factors, such as technological development, availability of skilled & cheap labor, and a
well developed telecom infrastructure. However, demand in the region is hampered by the false idea among
customers worldwide that low-cost economies provide inferior quality services. Also, greater preference for
local outsourcing is another market restraint. Highest demand for data analytics outsourcing comes from the
North America & Western Europe markets. Key global Data Analytics Outsourcing Market participants a re
Tata Consultancy Services Ltd., Genpact Ltd., Capgemini, Accenture, Wipro Ltd., and ZS Associates Inc.
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Table of Content of Data Analytics Outsourcing Market
Table of Content
1. Methodology & Scope
1.1 Research Methodology
1.1.1 Initial Data Exploration
1.1.2 Statistical Modeling and Forecast
1.1.3 Industry Insights and Validation
1.2 Research Scope & Assumptions
1.3 List of Data Sources
2. Executive Summary
2.1 Industry Summary of Data Analytics Outsourcing Market
3. Industry Outlook
3.1 Data Analytics Outsourcing Market Segmentation
3.2 Data Analytics Outsourcing Market Size and Growth Prospects
3.3 Data Analytics Outsourcing Market Dynamics
3.4 Key Opportunities Prioritized
3.5 Industry Analysis - Porter's
3.6 Market Share Analysis
3.7 Market PESTEL Analysis, 2016
4. Application Framework
4.1 Data Analytics Outsourcing Market share by application, 2016 & 2024
5. Regional Outlook
5.1 North America
5.2 Europe
5.3 Asia Pacific
5.4 Latin America
5.5 MEA (Middle East and Africa)
5.6 RoW (Rest of the World)
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6. Competitive Landscape
6.1 Tata Consultancy Services Ltd.
6.1.1 Company Overview
6.1.2 Revenue Analysis
6.1.3 Product Benchmarking
6.1.4 Strategic Initiatives
6.2 Genpact Ltd.
6.2.1 Company Overview
6.2.2 Revenue Analysis
6.2.3 Product Benchmarking
6.2.4 Strategic Initiatives
6.3 Capgemini
6.3.1 Company Overview
6.3.2 Revenue Analysis
6.3.3 Product Benchmarking
6.3.4 Strategic Initiatives
6.4 Accenture
6.4.1 Company Overview
6.4.2 Revenue Analysis
6.4.3 Product Benchmarking
6.4.4 Strategic Initiatives
6.5 Wipro Ltd.
6.5.1 Company Overview
6.5.2 Revenue Analysis
6.5.3 Product Benchmarking
6.5.4 Strategic Initiatives
6.6 ZS Associates Inc.
6.6.1 Company Overview
6.6.2 Revenue Analysis
6.6.3 Product Benchmarking
6.6.4 Strategic Initiatives
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The worldwide data analytics outsourcing market is poised to rise at a whopping CAGR exceeding 30% from 2016 to 2024 (forecast period).

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