In a recent published report, Kenneth Research has updated the market report for Data Analytics Outsourcing Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Data Analytics Outsourcing Market products.
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Moreover, the median health expenditure per capita recorded in the high-income, upper-middle income, and low & lower-middle income countries, recorded to be over USD 2,000, USD 400, and USD 100 respectively. Additionally, in the same year, the spending on health in high-income countries and in the low- and middle-income countries comprised approximately 8.2% and 6.3% of the GDP respectively.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
Data Analytics Outsourcing Market is estimated to reach $23.9 billion by 2025; growing at a CAGR of 31.2% from 2017 to 2025. Data analytics outsourcing represents outsourcing of data and arithmetical research. Data analytics permit the companies to make better decisions, reduce operational costs, increase efficiency, deliver customized offerings, and improve customer services. It also allows companies to use updated tools and have expert opinion on their data. It involves collecting data from different sources, manipulate it in a way that it becomes available to be consumed by analysts and finally deliver data products useful to the organization business. Many of the associations are increasingly recognizing the advantages and profitability of using data analytics.
The major factors driving the growth of global data analytics outsourcing market are growing adoption of mobile device and social media, increase in data generation, and reduction in prices of data storage. In addition, stringent market competition is also supporting the market growth. However, data security and privacy, lack of awareness, and limited availability of skilled professionals are the restraints of the market. Moreover, increased adoption of predictive and prescriptive analytics, and real time analytics and social media analytics would generate profitable opportunities for the global packaging robots market.
The global data analytics outsourcing market is segmented on the basis of type, application, vertical and geography. Type segment comprises descriptive, predictive and prescriptive. Application segment is classified into sales analytics, marketing analytics, finance and risk analytics, supply chain analytics and other applications. By vertical, the market is bifurcated into BFSI, telecom, retail, healthcare, media and entertainment and other verticals.
Based on geography, data analytics outsourcing market is segmented into North America, Europe, Asia-Pacific, and Rest of the World (RoW). North America is further bifurcated into U.S., Canada, and Mexico whereas Europe segment consists of UK, Germany, France, Italy, and Rest of Europe. Asia-Pacific is segmented into India, China, Japan, South Korea, and Rest of Asia-Pacific while RoW is bifurcated into South America, Middle East, and Africa.
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The key market players include Fractal Analytics Inc., Opera Solutions, LLC, Associates, Inc., Tata Consultancy Services Limited, Wipro Limited, Genpact Limited, Accenture PLC, Capgemini S.A., International Business Machine Corporation, and Mu Sigma among others.
The key takeaways from the report
The report will provide detailed analysis of Global Data Analytics Outsourcing Market with respect to major segments such as type, application, vertical and geography.
The report will include the qualitative and quantitative analysis with market estimation over 2016 – 2025 and compound annual growth rate (CAGR) between 2017 and 2025
Comprehensive analysis of market dynamics including factors and opportunities will be provided in the report
An exhaustive regional analysis of Global Data Analytics Outsourcing Market has been included in the report
Profile of the key players in the Global Data Analytics Outsourcing Market will be provided, which include key financials, product & services, new developments and business strategies
Scope of Global Data Analytics Outsourcing Market
Type Segments
Descriptive
Predictive
Prescriptive
Application Segments
Sales Analytics
Marketing Analytics
Finance and Risk Analytics
Supply Chain Analytics
Other Applications
Vertical Segments
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BFSI
Telecom
Retail
Healthcare
Media and Entertainment
Other Verticals
Geographical Segments
North America
U.S.
Canada
Mexico
Europe
UK
Germany
France
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
RoW
South America
Middle East
Africa
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