Data Analytics Outsourcing Market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 19.35 billion by 2030 and is anticipated to register a CAGR of 22.1% Data analytics outsourcing is a partnership model in which a corporation entrusts its data to a service provider in exchange for intelligent reporting. At the same time, the supplier handles infrastructure setup and support, as well as data management and analysis. To arrive at a final conclusion, data is extracted and categorised in order to recognise and evaluate data trends. Data analytics outsourcing refers to the acquisition of data analytics services such as data science, data visualisation, data management, and statistical research in order to improve operational efficiency and meet high revenue goals.
The report ” Global Data Analytics Outsourcing Market, By Type (Business Analytics Outsourcing, CRM Analytics Outsourcing, Supply Chain Analytics Outsourcing, Risk Analytics Outsourcing, and Others), By End-user (Retail, Agriculture, Automotive, Aviation, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Market Trends, Analysis, and Forecast till 2029’’
Key Highlights:
- In August 2021, The UK is today launching a package of measures to help it seize the opportunities of data to boost growth, trade and improve its public services. Data underpins innovation and the global digital economy, everyday apps and cloud computing systems. It allows businesses to trade, drives international investment, supports law enforcement agencies tackling crime, the delivery of critical public services and health and scientific research.
- In January 2020, The Financial Conduct Authority (FCA) and the Bank of England (Bank) outlined their plans to develop their data and analytics capabilities. Both authorities depend on access to high-quality data to fulfill their respective missions of maintaining monetary and financial stability, market integrity, effective competition, and consumer protection.
Analyst View:
Predictive analytics dominated the global data analytics outsourcing market share, and it is expected to continue to do so in the coming years as businesses adopt analytics techniques to analyze structured and unstructured data, allowing them to make better decisions. This will open up more opportunities for descriptive analytics in the coming years. Increased usage of linked devices such as robotics, sensors, and smart phones is promoting global industrial growth, which is likely to promote data analytics outsourcing market growth. Enterprises are being transformed from production facilities to smart organizations as a result of the adoption of analytics across numerous industrial verticals.
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Key Market Insights from the report:
The global data analytics outsourcing market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 19.35 billion by 2030 and is anticipated to register a CAGR of 22.1%The Global Data Analytics Outsourcing Market is segmented based on the type, end-user and region.
- By Type, the Global Data Analytics Outsourcing Market is segmented into Business Analytics Outsourcing, CRM Analytics Outsourcing, Supply Chain Analytics Outsourcing, Risk Analytics Outsourcing, and Others.
- By End-user, the market is segmented into Retail, Agriculture, Automotive, Aviation, and Others.
- By Region, the Global Data Analytics Outsourcing Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is expected to dominate the market.
Competitive Landscape:
The key players operating in the global Mining Explosive market include Tata Consultancy Services, Ltd., CITI Fractal Analytics, Inc., Cognizant Technology Solutions, Corp., ZS Associates, Inc., WIPRO, LLC, Opera Solutions, LLC, Mu Sigma, Inc., Infosys Consulting, Inc., Capgemini, EE and American Express, Inc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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