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LONDON, GREATER LONDON, UNITED KINGDOM, February 21, 2025 /EINPresswire.com/ -- The global Data Analytics Outsourcing industry is experiencing immense growth and is projected to skyrocket from $16.22 billion in 2024 to $22.11 billion in 2025. Heavily influenced by the rise of big data, increased complexity of data management, advancements in cloud computing, early adoption of data-driven decision-making, cost-effective labor in outsourcing markets, the need for better business intelligence, and the rapid digitization of businesses, this report is a must-have for staying ahead of the curve.
What Is The Predicted Growth Of The Data Analytics Outsourcing Market In The Near Future?
The Data Analytics Outsourcing market size is set to experience a remarkable growth surge in the next few years. According to predictions, it will grow exponentially to $75.73 billion in 2029 at a compound annual growth rate CAGR of 36.0%. Growth during the forecast period is highly attributed to the increasing demand for real-time data insights, increased use of AI and machine learning, advancements in predictive analytics, the rise of IoT-connected devices, expanding remote work models, higher reliance on cloud-based analytics, and increased regulatory requirements for data management.
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What Are The Key Drivers Of The Data Analytics Outsourcing Market?
The growth of the Data Analytics Outsourcing market will continue to be powered by the increasing volume and complexity of data. The total data volume is the total amount of data produced, while complexity relates to the diversity and relationships between data, complicating its management. Digital technologies are fueling the growth in the quantity and intricacy of data from diverse sources like social media and the internet of things IoT. By opting for data analytics outsourcing, companies use expert tools and teams to more effectively handle large, complex datasets.
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Who Are The Key Players In The Data Analytics Outsourcing Market?
Major players in the Data Analytics Outsourcing market include Accenture PLC, International Business Machines Corporation, Deloitte Touche Tohmatsu Limited, PricewaterhouseCoopers LLP, Tata Consultancy Services Limited, Capgemini SE, Cognizant Technology Solutions Corporation, Infosys Limited, DXC Technology Company, HCL Technologies Limited, Wipro Limited, and Tech Mahindra Limited among others.
What Are The Emerging Trends In The Data Analytics Outsourcing Market?
New trends are emerging in the industry. For example, healthcare data and analytics ecosystems are being developed by major companies to optimize their service offerings and meet the growing demand for efficient, data-driven decision-making in the healthcare sector.
How Is The Data Analytics Outsourcing Market Segmented?
1 By Type: Descriptive; Predictive; Prescriptive
2 By Application: Marketing Analytics; Human Resource HR Analytics; Financial Analytics; Supply Chain Analytics; Sales Analytics; Other Applications
3 By End User: Healthcare; Banking, Financial Services, and Insurance BFSI; Retail and E-commerce; Manufacturing; Telecommunications; Media and Entertainment; Other End Users.
Subsegments include Descriptive Data: Aggregation, Reporting, Historical Trend Analysis, Performance Monitoring; Predictive: Forecasting Models, Risk Assessment and Management, Customer Behavior Prediction, and Prescriptive: Optimization Models, Decision Support Systems, Scenario Analysis, and Simulation.
What Are The Regional Insights In The Data Analytics Outsourcing Market?
North America was the largest region in the Data Analytics Outsourcing market in 2024. It is anticipated that Asia-Pacific will be the fastest-growing region during the forecast period. The report covers regions ranging from Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East to Africa.
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