San Francisco, 27
November 2018: The global data analytics outsourcing market is expected to reach USD
10,321.6 million by 2025, according to a new study conducted by Grand View
Research, Inc. The growing need for outsourcing service among organizations to
manage growing customer’s data is expected to drive the growth of the market over
the forecast period.
Data analytics outsourcing allows the
companies to reduce operational costs, enhance decision-making, deliver
customized offerings, and improve customer services. Increasing use of social
media, increase in data generation, and reduction in prices of data storage are
expected to accelerate the market growth. Additionally, growing number of
smartphone users worldwide has led to the generation of large amounts of data
in the form of voice and text and this is further anticipated to propel the
demand for data analytics outsourcing over the forecast period.
The growing awareness about the advantages
and improved productivity gained through data analytics outsourcing is expected
to drive the market growth. Increasing e-commerce sales across the globe are
generating a considerable amount of data that needs to be managed by an
outsourcing facility. Increasing adoption of SaaS-based analytics and evolution
of Artificial Intelligence (AI) are further anticipated to drive demand for
data analytics outsourcing.
Most companies across the globe prefer
using data analytics to gain insights into large amounts of data through
several qualitative and quantitative techniques for expanding market and
consumer base. There has been a substantial increase in the data produced by organizations,
owing to the expansion of multimedia content, which in turn, is expected to
propel the growth of the market over the forecast period.
Access
Research Report of Data Analytics Outsourcing Market @ www.grandviewresearch.com/industry-analysis/data-analytics-outsourcing-market
Further key findings from the report suggest:
· The prescriptive segment is anticipated to
grow at the highest CAGR owing to the emergence of advanced technologies such
as Internet of Things (IoT) and big data.
· The marketing analytics segment accounted a
significant market share in 2017. This growth can be attributed to the
increasing investment by organizations in marketing analytics-based
applications to optimize return on investment and its effectiveness.
· The BFSI segment is anticipated to maintain
its dominance in the market over the forecast period owing to increasing
adoption of data analytics outsourcing to minimize risk, reduce costs, and to
understand changing consumer preferences
· North America is expected to dominate the
market over the forecast period and is anticipated to reach USD 3,406.1 million
by 2025 owing to the growing adoption of marketing analytics by enterprises to
offer best services to clients.
· The key industry participants include
Accenture; Associates, Inc.; Tata Consultancy Services Ltd.; Genpact Ltd.;
Capgemini; Fractal Analytics Inc.; Wipro Ltd.; Opera Solutions, LLC; ZS
Associates Inc.; and International Business Machine Corporation.
Browse more reports of this category by Grand View
Research at: www.grandviewresearch.com/industry/digital-media
Grand View Research has segmented the global
data analytics outsourcing market on the basis of type, application, end-use,
and region:
Data Analytics Outsourcing Type Outlook
(Revenue, USD Million; 2014 - 2025)
·
Descriptive
·
Predictive
·
Prescriptive
Data Analytics Outsourcing Application
Outlook (Revenue, USD Million; 2014 - 2025)
·
Sales Analytics
·
Marketing Analytics
·
Finance & Risk Analytics
·
Supply Chain Analytics
·
Others
Data Analytics Outsourcing End-use Outlook
(Revenue, USD Million; 2014 - 2025)
·
BFSI
·
Telecom
·
Retail
·
Healthcare
·
Media & Entertainment
·
Manufacturing
·
Others
Data Analytics Outsourcing Regional Outlook
(Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
Middle East & Africa
Access Press Release of
Data Analytics Outsourcing Market@ www.grandviewresearch.com/press-release/global-data-analytics-outsourcing-market
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
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