Global Data Analytics Outsourcing Market

Data Analytics Outsourcing Market Size, Share, Growth Analysis, By Type(Descriptive, Predictive, Prescriptive), By Application(Sales analytics, Marketing Analytics, Finance and Risk Analytics, Supply Chain Analytics), By End user(Healthcare, BFSI (Banking, Financial Services, And Insurance)), By Region - Industry Forecast 2025-2032


Report ID: SQMIG45B2062 | Region: Global | Published Date: August, 2024
Pages: 197 | Tables: 62 | Figures: 75

Data Analytics Outsourcing Market Insights

Data Analytics Outsourcing Market size was valued at USD 19.08 Billion in 2023 and is poised to grow from USD 25.59 Billion in 2024 to USD 267.61 Billion by 2032, growing at a CAGR of 34.1% during the forecast period (2025-2032).

The increasing demand for quicker interpretation of data, the growing adoption of cloud-based analytical tools, and the shortage of competent data scrutinizing personnel within representatives are among the key factors accelerating the growth of the data analytics outsourcing industry. In addition to that, the rapid development of AI-oriented and machine learning technologies that can eliminate tedious tasks and analyze complex datasets have also contributed towards the growth of this market. Moreover, smaller organizations, as well as larger ones, are also able to order data analytics services due to the possibility of introducing rationally priced options such as per usage pricing. A few of the significant drivers for the market include the growing growth of businesses creating huge volumes of more complex data, the increasing importance of making business decisions based on data, and the need to enhance efficiency and reduce costs. 

Exciting features such as the implementation of advanced tools and technology in artificial intelligence (AI) and machine learning are the application of data to excite innovations and also the provision of data analytics outsourcing services to new industries are some of the areas that needs exploration. Innovative self-service analysis software, cloud-based data analysis services, and new types of companies that only provided data analysis on demand are a few new developments. In modern times, when the competition in business is extremely great, enterprises are relying more and more on the power of data to make rational business decisions. Data analytics outsourcing companies enable enterprises to collect, process and analyze data for the purpose of extracting useful information concerning customers, operational processes and the performance of the market as a whole.

US Data Analytics Outsourcing Market is poised to grow at sustainable CAGR for the next forecast year

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FAQs

Data Analytics Outsourcing Market size was valued at USD 14.23 billion in 2022 and is poised to grow from USD 19.08 billion in 2023 to USD 199.56 billion by 2031, at a CAGR of 34.1% during the forecast period (2024-2031).  

The competitive landscape of the global data analytics outsourcing market is characterized by a diverse array of players offering innovative solutions. The market for analytics services is dominated by global companies like Accenture, IBM and Deloitte offering a full range of services while Tableau, SAS and other companies offer very advanced and specialized tools for data visualization and forecasting. Along with these, there are technology corporations such as Microsoft and Google who have also started venturing into this space and are intensifying competition by offering analytical services on cloud infrastructure, addressing the needs of diverse industries and enhancing the global data analytics outsourcing market outlook. 'Accenture (Ireland) ', 'IBM Corporation (US) ', 'Capgemini (France) ', 'Tata Consultancy Services (India) ', 'Cognizant (US) ', 'Infosys Limited (India) ', 'Wipro Limited (India) ', 'Genpact (US) ', 'HCL Technologies (India) ', 'DXC Technology (US) ', 'Ernst & Young (UK) ', 'Deloitte (US) ', 'PricewaterhouseCoopers (UK) ', 'KPMG (Netherlands) ', 'NTT DATA Corporation (Japan) ', 'Tech Mahindra (India) ', 'Atos (France) ', 'WNS Global Services (India) ', 'L&T Infotech (India) ', 'Mu Sigma (US) '

Given that businesses in different sectors realize how beneficial data is in making organizational strategies, there is an increasing need for data analytics outsourcing. Companies want to make use of analytics to improve their operations, service delivery, and to maintain an edge in the market. It is this expansion that has escalated the growth of this market. 

Rise of AI and Machine Learning Integration: The incorporation of artificial intelligence (AI) and machine learning into the data analytics outsourcing processes has sophisticated the way organizations handle and analyze data. These technologies enable better forecasting, simplify the performance of advanced work processes, and enhance the quality of the decision-making process, increasing the need for the provision of outsourcing services that involve advanced analytics in order to obtain a competitive edge. 

North America is dominating the global data analytics outsourcing market due to its advanced technological infrastructure, a robust pool of skilled professionals, and high levels of investment in data-driven initiatives. The companies in this region are also rapidly embracing analytics, for operational efficiency and innovation, and elevation of customer experience. Also, the fact that there are several large technology companies, and many new firms creates an ideal environment for data analytics solutions, hence stimulating interaction and creation. In addition, as the need for data protection compliance grows within North America, many organizations are driven to look for focused outsourcing solutions that would manage and analyze data within very strict governance requirements. 

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Global Data Analytics Outsourcing Market

Report ID: SQMIG45B2062

$5,300
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