Data Analytics Outsourcing Market is estimated to be US$ 19.35 billion by 2030 with a CAGR of 22.1% during the forecast period
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.
To know the upcoming trends and insights prevalent in this market,
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https://www.prophecymarketinsights.com/market_insight/Global-Data-Analytics-Outsourcing-Market-2697
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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