The data analytics outsourcing market is poised to grow at a cagr of +31% during the forecast period. – press release – digital journal database web application

Pune, India — ( SBWIRE) — 06/04/2018 — Data analytics outsourcing is the process by which organizations employ service providers to perform analytics on the data of an organization. Such strategies boost operational efficiency and help enterprises in arriving at decisions based on the outcome of the data analysis. Organizations generate a tremendous amount of data from departments such as HR, procurement, production, and sales and marketing. Data analysis is used to infer actionable insights from these volumes of information.

Data Analytics Outsourcing Market presents an in-depth synopsis of the competitive landscape of the market globally, thus helping establishments understand the primary threats and prospects that vendors in the market are dealt with. It also encompasses thorough business profiles of some of the prime vendors in the market.

The world data analytics outsourcing market is primarily driven by the massive growth in the data generated by organizations, which encourages them to analyze it to gain market and customer insights and make strategic business decisions based on it. A significant decrease in data storage costs over the years has accelerated the market. Organizations across the world are investing in data analytics outsourcing business strategies to increase their profit margins. However, low awareness, and data privacy and security concerns limit the growth of this market.

The data analytics outsourcing market can be segmented on the basis of application and industry. Based on application, the data analytics outsourcing market can be classified into marketing analytics, sales analytics, fraud detection and risk management, supply chain analytics, process optimization, advisory services, device security solutions, and others. Based on industry, the data analytics outsourcing market can be divided into BFSI, IT & telecom, healthcare, retail, media & entertainment, energy & utilities, hospitality, education, manufacturing, consumer packaged goods, and others.

The major players of the Data Analytics Outsourcing market are identified across regions, and their offerings, distribution channels, and regional presence are understood through in-depth discussions. Also, average revenue generated by these companies, segmented on the basis of region, is used to arrive at the overall market size. This overall market size is used in the top-down procedure to estimate the sizes of other individual markets through percentage splits from secondary sources directories, databases, and primary research.

Regions in the global data analytics outsourcing market are Europe, North America, Asia Pacific, Latin America, and the Middle East & Africa. The industry is led by Asia Pacific. India, Philippines, and China are the three main providers of this region. Factors propelling the Asia Pacific market are low labor costs, skilled labor force, well developed telecom infrastructure, and strong technology infrastructure. High demand in the region is because of globalized processes, improved operations, and the widespread implementation of information technology.