Data Analytics Outsourcing Market worth USD 107.9 billion by 2030

The Market Statsville Group (MSG) publishes the new report on the "Data Analytics Outsourcing Market by Type (Descriptive, Predictive, and Prescriptive), by Application (Marketing Analytics, Risk & Financial Analytics, Sales Analytics, Supply Chain Analytics, and Others), by Industry Vertical (BFSI, Telecom, Retail, Healthcare, Media & Entertainment, and Others), by Region – Global Share and Forecast to 2030".

The global data analytics outsourcing market size is projected to grow at a CAGR of 34.1% to reach USD 107.9 billion by 2030 from USD 7.7 billion in 2021. The global data analytics outsourcing market is experiencing rapid growth, owing to an increase in digital data production. The age of digitization has brought in an astonishing amount of digital data products worldwide. The rising penetration of digital devices such as smartphones and laptops into the everyday lives of regular people is one of the key causes driving this surge in digital data output. In addition, the growing popularity of the Internet of Things (IoT) and the data created by numerous IoT devices has added to this data explosion. Large amounts of digital data outputs have proven difficult to process and understand for data analysts. This makes outsourcing data analytics solutions more crucial for businesses as in-house solutions can be expensive and require a large initial investment.

Global Data Analytics Outsourcing Market Segmentation

The data analytics outsourcing market has been segmented into the type, application, industry vertical, and region

• By Type (Descriptive, Predictive, and Prescriptive)
• By Application (Marketing Analytics, Risk & Financial Analytics, Sales Analytics, Supply Chain Analytics, and Others)
• By Industry Vertical (Telecom, Retail, Healthcare, BFSI, Media & Entertainment, and Others)
• By Region (North America, Europe, Asia Pacific, South America, and the Middle East & Africa)

Sales analytics, by application, is estimated to hold the largest market share during the forecast period

On the basis of application, the data analytics outsourcing market is segmented into sales analytics, risk & financial analytics, supply chain analytics, marketing analytics, and others. In 2021, the sales analytics segment was the highest contributor to the market, with a share of 32.1% in the global data analytics outsourcing market. Sales analytics tools allow organizations to leverage their data to provide clear insight into sales pipelines, products, and staff performance. With these insights, one is better equipped to understand and manage risk as well as deliver more accurate sales forecasts.

Sales analysis can reveal the difference in efficiency and productivity in the sales process. It gains critical insights into the sales team's skills and helps to know which employees to assign to the most valuable customers, which skills to develop, and which types of talent to hire. Using data insights to pinpoint the best opportunities to pursue also helps the sales team to respond to the most promising sales leads. These factors drive the sales analytics segment. In addition, the growing need for an enterprise sales team to formulate a plan, execute, & evaluate campaigns on various platforms and make better decisions are expected to create more opportunities for the market.

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North America accounts for the largest market share in data analytics outsourcing market in 2021

Region-wise, the global data analytics outsourcing market is analyzed across North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. In 2021, North America accounted for the highest market share of 37.2% in the global data analytics outsourcing market and was anticipated to maintain its dominance throughout the forecast period. North America is analyzed across the U.S., Canada, and Mexico. North America Countries are expected to dominate the global market in terms of revenue owing to the adoption of advanced digital technologies by the users and well-developed information technology infrastructure.

North America is one of the fastest-growing regions in terms of technological development. In the last five years, the region significantly adopted technologies such as Big Data, IoT, artificial intelligence, cognitive learning, machine learning, and driven solutions. These technologies are highly data-intensive and are responsible for generating vast amounts of data used every day and are stored and processed as many times as needed.

This research report includes a study on the development and marketing strategies, along with a study on the product portfolios and winning strategies of the leading companies operating in the data analytics outsourcing market. It also consists of the profiles of leading companies such as Fractal Analytics Ltd., Wipro Ltd., Accenture, ZS Associates, Inc., IBM Corporation, Opera Solutions LLC, Tata Consultancy Services Ltd., Capgemini, Genpact Ltd., and Mu Sigma, Inc.

Browse complete report: https://www.marketstatsville.com/data-analytics-outsourcing-market

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