Data Analytics Outsourcing Market Size, Share, Industry Analysis, Trends, Growth, Forecasts, 2032

Data Analytics Outsourcing Market Insights

According to the report published by Zion Market Research, the global Data Analytics Outsourcing Market size was valued at USD 8.29 Billion in 2023 and is predicted to reach USD 182.14 Billion by the end of 2032. The market is expected to grow with a CAGR of 36.2% during the forecast period. The report analyzes the global Data Analytics Outsourcing Market's growth drivers, restraints, and impact on demand during the forecast period. It will also help navigate and explore the arising opportunities in the Data Analytics Outsourcing industry.

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Global  Data Analytics Outsourcing Market: Overview

Businesses all across the globe have realized the role of analysis for being at the front head in the competition and intensified environment. The professionals from management departments in the companies are rapidly adapting predictive analysis, quantified data analytics, and risk analytics method as a foundation for taking important decisions regarding strategic plans and operational policies. Analytical capabilities like personalized customer experience and forecasting future events are exposing the importance of data as a vital segment of the business. However, the procurement of such highly skilled data scientists is a challenge in the present environment due to the lack of professionals and high operational costs. Hence, data analytic outsourcing emerged as an effective way.

Global  Data Analytics Outsourcing Market: Growth Factors

The global data analytics outsourcing market is expected to witness exponential growth during the forecast period due to the emergence of social media analytics along with the rapidly increasing volume of user data. Moreover, the growing adoption of social media leads to the reduction in the prices of data storage and the generation of a huge amount of data will further boost the market growth. Data analytics assist the organizations to attain valuable insights from the generated set of data. Big data collection in large organizations across various segments has escalated the necessity for achieving effective business judgments by considering the current market insights and analysis as a reference.

Several organizations are progressively distinguishing between the productivity and benefits associated with data analytics applications. Companies all across the globe are outsourcing data analytics tasks to let data scientists analyze a large chunk of data and extract some important insights pertaining to the market demand and customer behavior. However, such emerging scenarios will significantly propel the growth of the global data analytics outsourcing market during the forecast period.

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Global  Data Analytics Outsourcing Market: Segmentation

The global data analytics outsourcing market can be segmented into end-users, applications, types, and regions.

By end-user, the market can be segmented into manufacturing, media & entertainment, healthcare, retail, telecom, BFSI, and others. The BFSI segment accounts for the largest share in the global data analytics outsourcing market due to the growing transactional data and rising requirement to implement fraud & risk analytics solutions in the organizations. Moreover, the growing incidences of money laundering are significantly boosting the adoption of data analytic outsourcing solutions in the BFSI sector.

By application, the market can be segmented into supply chain analytics, risk analytics, market analytics, sales analytics, and others. The market analytics segment holds hegemony over others due to the emergence of IoT-based technologies and the high adoption rate of data-driven decision-making practices. Moreover, the increasing investment in digital marketing is also driving the growth of the segment. Also, the hype of social media marketing due to the growing deployment of chatbots and several other applications for facilitating a better experience to users is fueling the growth of the segment.

By type, the market can be segmented into prescriptive, predictive, and descriptive. The descriptive segment holds the largest share in the global data analytics outsourcing market due to the rising adoption of digital technologies along with big data analysis.

Data Analytics Outsourcing Market: Report Scope

Global  Data Analytics Outsourcing Market: Regional analysis

North America accounts for the largest share in the global data analytics outsourcing market due to the increasing adoption of advanced technologies by several users in the region. Moreover, the increasing amount of data from different departments including sales & marketing, procurement, production, and human resource is further accelerating the growth of the regional market during the forecast period.

Asia Pacific is expected to witness huge growth during the forecast period due to the wide availability of skilled labor forces in the region. Moreover, the ongoing technological advancements in the region further boost the growth of the regional market.

Global  Data Analytics Outsourcing Market: Competitive Players

Some of the significant players in the global data analytics outsourcing market are :

• ZS Associates, Inc.
• WNS (Holdings) Ltd.
• Wipro Limited
• Tata Consultancy Services Limited, Mu Sigma Inc.
• Infosys Limited
• Genpact
• Fractal Analytics Inc.
• Capgemini SE
• Accenture.

The Global Data Analytics Outsourcing Market is segmented as follows:

By end-users 

• manufacturing
• media & entertainment
• healthcare
• retail
• telecom
• BFSI 
• and others

By applications 

• supply chain analytics 
• risk analytics
• market analytics
• sales analytics
• and others

By types 

• prescriptive
• predictive 
• descriptive

Global  Data Analytics Outsourcing Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa

What Reports Provides

• Full in-depth analysis of the parent market
• Important changes in market dynamics
• Segmentation details of the market
• Former, on-going, and projected market analysis in terms of volume and value
• Assessment of niche industry developments
• Market share analysis
• Key strategies of major players
• Emerging segments and regional markets
• Testimonials to companies in order to fortify their foothold in the market.