What is Data Analytics Outsourcing?
The global Data Analytics Outsourcing market is expected to witness high demand in the forecasted period due to the increased penetration of digital devices, such as smartphones and computers, in the daily life of average consumers. Data analytics outsourcing is the cooperation model under which a company entrusts a service provider with its data and gets access to insightful reporting. Data analytics outsourcing enables companies to get the work done without having to perform a talent search, onboard and hire a new employee, and pay benefits and salary even when the work slows down.
The market study is broken down by Type (Descriptive Data Analytics, Predictive Data Analytics and Prescriptive Data Analytics), by Application (Marketing Analytics, Supply Chain Analytics, Sales Analytics, Finance & Risk Analytics and Others) and major geographies with country level break-up. According to AMA, the Global Data Analytics Outsourcing market is expected to see growth rate of 34.78% and may see market size of USD5913.78 Million by 2026.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analysts at AMA Research estimates that Players from United States will contribute to the maximum growth of Global Data Analytics Outsourcing market throughout the predicted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Fractal Analytics Ltd (United States), Opera Solutions LLC (United States), ZS Associates, Inc. (United States), Tata Consultancy Services Ltd. (India), Wipro Ltd. (India), Genpact Ltd. (United States), Accenture (Ireland), Capgemini (France), IBM Corporation (United States) and Mu Sigma, Inc. (United States) are some of the key players that are part of study coverage.
AdvanceMarketAnalytics has segmented the market of Global Data Analytics Outsourcing market by Type, Application and Region.
On the basis of geography, the market of Data Analytics Outsourcing has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2020. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Industry Vertical, the sub-segment i.e. BFSI will boost the Data Analytics Outsourcing market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Rapid scalability of outsourcing data analytical needs
- A rising amount of digital data production
- A rising amount of digital data coupled with its complexity in handling such a colossal amount of data
- The increased attention toward handling data from social media platforms The rapid scalability of outsourcing data analytics models
- The data security and privacy issues
- The technological complexities associated with Data Analytics Outsourcing
Key Target AudienceIndustry Association, Government Regulatory Bodies, Government and Private Research Organizations and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as Fractal Analytics Ltd (United States), Opera Solutions LLC (United States), ZS Associates, Inc. (United States), Tata Consultancy Services Ltd. (India), Wipro Ltd. (India), Genpact Ltd. (United States), Accenture (Ireland), Capgemini (France), IBM Corporation (United States) and Mu Sigma, Inc. (United States) etc.
2. Can we have customized study for Data Analytics Outsourcing Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Data Analytics Outsourcing Market by 2026?
Analysts at AMA estimates Data Analytics Outsourcing Market to reach USD5913.78 Million by 2026.