Wiseguyreports.Com Publish Market Research Report On -“Data Analytics Outsourcing Market 2019 Global Analysis, Size, Share, Trends and Growth, Forecast 2022”
PUNE, INDIA, October 9, 2019 /EINPresswire.com/ —
As mentioned in a report, the global data analytics outsourcing market is likely to grow in an impressive manner. The market size is expected to grow at a CAGR of 30.25% during the period from 2017 to 2021. There are various factors that are expected to influence the market growth. The market growth is anticipated to be primarily driven by the growing competition in the business world which in turn makes business owners realize the importance of analytics.
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Data analytics outsourcing is the process through which the companies hire service providers to perform analytics on the data of their business. It is useful in forecasting future events and to personalize customer experience as well which both are essential fragment for the success of the business. Enhanced operational efficiency and more accurate decisions based on the outcome of the data analysis is urging companies to outsource the work to third parties which in turn is expected to increase global data analytics outsourcing market in the future.
Since the organizations generate huge amount of data from departments such as HR, procurement, production, and sales and marketing, so data analytics is used as a base for taking critical decisions such as operational policies and strategic plans. However, lack of skilled data scientist or experienced professionals can hinder the market growth in the future.
The growing competition among the leading market players will boost the global market of data analytics outsourcing market. Also, more numbers of companies are entering into partnerships and agreements with other regional companies in order to increase their presence over there.
The Key vendors covered in this report
ZS (ZS Associates)
Other prominent vendors
EXL Service (EXL)
Latentview (LatentView Analytics)
The global market for data analytics outsourcing market has been segregated into type, users, application and region. Based on the end users, the market has been segmented into BFSI, healthcare, retail, manufacturing, telecom, media & entertainment to name a few. The media & entertainment sector is expected to create significant space in the data analytics outsourcing market during the projected period. Based on the application, the market has been segmented into Sales Analytics, Marketing Analytics, Risk & Finance Analytics, Supply Chain Analytics and others. Based on application, the market is divided into Descriptive Data Analytics, Predictive Data Analytics and Prescriptive Data Analytics.
Detailed Regional Analysis
The regional analysis will provide clear insight about the market progression over key regions. The market of the global data analytics outsourcing has been analysed across the United States, Europe, India, Japan, China, and Southeast Asia, Middle East and Africa. In terms of revenue, North America dominates the market and the growth can be attributed to the increasing dependency on the advanced digital technologies in the region which in turn results in generation of large volumes of data. Meanwhile, Asia Pacific region is also expected to become hub for data analytics outsourcing in the future which is mainly due to availability of skilled labour force, technology infrastructure and reduced labour cost as well. Meanwhile, the growing implementation of IT at a significant scale in the region is also anticipated to propel the market growth.
Infosys entered into a joint venture with Hitachi, Panasonic, and Pasona in order to expand its footprint in Japan.
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Source: EIN Presswire