Data Analytics Outsourcing Market To Reach $66.68 Billion By 2030

Data Analytics Outsourcing Market Growth & Trends

The global data analytics outsourcing market size is anticipated to reach USD 66.68 billion by 2030, according to a new report by Grand View Research, Inc. The market is projected to grow at a CAGR of 32.1% from 2024 to 2030. 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.

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Data Analytics Outsourcing Market Report Highlights

• The descriptive type segment dominated the market and accounted for a market revenue share of 39.8% in 2023.

• The sales analytics segment accounted for the largest market revenue share in 2023. Sales analytics provides businesses with the tools to predict future sales trends accurately.

• The BFSI segment accounted for the largest market revenue share in 2023. Outsourcing data analytics for fraud detection enables institutions to leverage advanced techniques.

• The North America region accounted for the largest revenue share in 2023. The region has numerous tech giants and startups, such as IBM, Fractal Analytics, and others specializing in advanced analytics, machine learning, and artificial intelligence.

Data Analytics Outsourcing Market Segmentation

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; 2017 - 2030)

• Descriptive

• Predictive

• Prescriptive

Data Analytics Outsourcing Application Outlook (Revenue, USD Million; 2017 - 2030)

• Sales Analytics

• Marketing Analytics

• Finance & Risk Analytics

• Supply Chain Analytics

• Others

Data Analytics Outsourcing End-use Outlook (Revenue, USD Million; 2017 - 2030)

• BFSI

• IT & Telecom

• Retail & E-commerce

• Healthcare

• Media & Entertainment

• Manufacturing

• Others

Data Analytics Outsourcing Regional Outlook (Revenue, USD Million; 2017 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• MEA

  • South Africa

  • South Arabia

  • UAE

List of Key Players in the Data Analytics Outsourcing Market

• Accenture

• Capgemini

• Fractal Analytics Inc.

• Genpact

• Infosys Limited

• IBM Corporation

• Mu Sigma

• TATA Consultancy Services Limited

• Trianz

• ZS Associates