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Data Analytics Outsourcing Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 141 Pages
  • October 2023
  • Region: Global
  • IMARC Group
  • ID: 5682516

Quick Summary:

In an era where business decisions are increasingly driven by data, the global data analytics outsourcing market plays a critical role. This field refers to the utilization of external resources for the analysis of vast quantities of information, extracted from sources such as artificial intelligence (AI), robotics process automation (RPA), and connected devices. Data analytics outsourcing helps organizations to generate actionable insights that can be used to improve operational efficiency and revenue, with particularly significant applications in sectors such as banking, financial services and insurance (BFSI), automotive, healthcare, retail, manufacturing, and IT & telecommunications.

The expanding digitization of business practices, the adoption of cloud computing, and an increasing demand for specialized analytical tools are key drivers catalyzing the growth of the data analytics outsourcing market. Technological advancements, adoption of IoT-enabled devices, and data-driven decision-making practices all contribute to this growth. Enhanced by the increasing volume of data generated by social media platforms, capable of offering key insights into consumer behavior and market trends, the market is set for sustenance and expansion.

The global data analytics outsourcing market size reached US$ 8.5 Billion in 2022. Looking forward, the analyst expects the market to reach US$ 44.9 Billion by 2028, exhibiting a growth rate (CAGR) of 31.5% during 2023-2028.

Data analytics outsourcing refers to the utilization of third-party applications and organizations for analyzing data. These services are used to produce actionable insights from large quantities of data generated from artificial intelligence (AI), robotics process automation (RPA), connected devices and big data repositories. The insights are also generated by analyzing data patterns through various data science, data visualization and statistical research tools, which are further used for improving operational efficiency and revenues. Outsourcing data analytics services offer enhanced flexibility to organizations and enable them to use updated tools and services for their data. As a result, these services find extensive applications across various industries, including banking, financial services and insurance (BFSI), automotive, healthcare, retail, manufacturing and IT & telecommunications.

Rapid digitization, along with increasing utilization of cloud-computing services across the globe, is one of the key factors driving the growth of the market. Third-party data analytics organizations optimize and personalize the integration interface to improve business operations and enhance cost-efficiencies. Furthermore, the growing demand for specialized analytical tools is also driving the market growth. Various technological advancements, such as the integration of connected devices with the Internet of Things (IoT), along with the increasing adoption of data-driven decision-making practices, are acting as other growth-inducing factors. The data generated by social media platforms are interpreted by data analytics service providers and are utilized by organizations to understand user behaviors and market trends. Other factors, including significant growth in the online retail sector, along with the adoption of predictive data analytic systems, are expected to drive the market further.

Key Market Segmentation

The report provides an analysis of the key trends in each sub-segment of the global data analytics outsourcing market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, application, component and vertical.

Breakup by Type:

  • Descriptive
  • Predictive
  • Prescriptive

Breakup by Application:

  • Sales Analytics
  • Marketing Analytics
  • Finance and Risk Analytics
  • Supply Chain Analytics
  • Others

Breakup by Component:

  • Solutions
  • Services

Breakup by Vertical:

  • Retail
  • Automotive
  • Manufacturing
  • BFSI
  • IT and Telecom
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Competitive Landscape

The report has also analysed the competitive landscape of the market with some of the key players being Accenture PLC, Capgemini Services SAS, Fractal Analytics Inc., Genpact Limited, Infosys Limited, International Business Machines (IBM) Corporation, Mu Sigma Inc., ElectrifAi LLC, Tata Consultancy Services Limited, Trianz Incorporated, Wipro Limited and ZS Associates Inc.

Key Questions Answered in This Report:

  • How has the global data analytics outsourcing market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the global data analytics outsourcing market?
  • What are the key regional markets?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the application?
  • What is the breakup of the market based on the component?
  • What is the breakup of the market based on the vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the global data analytics outsourcing market and who are the key players?
  • What is the degree of competition in the industry?
Frequently Asked Questions about the Global Data Analytics Outsourcing Market

What is the estimated value of the Global Data Analytics Outsourcing Market?

The Global Data Analytics Outsourcing Market was estimated to be valued at $8.5 Billion in 2022.

What is the growth rate of the Global Data Analytics Outsourcing Market?

The growth rate of the Global Data Analytics Outsourcing Market is 32.0%, with an estimated value of $44.9 Billion by 2028.

What is the forecasted size of the Global Data Analytics Outsourcing Market?

The Global Data Analytics Outsourcing Market is estimated to be worth $44.9 Billion by 2028.

Who are the key companies in the Global Data Analytics Outsourcing Market?

Key companies in the Global Data Analytics Outsourcing Market include Accenture PLC, Capgemini Services SAS, Fractal Analytics Inc., Genpact Limited, Infosys Limited, International Business Machines (IBM) Corporation, Mu Sigma Inc., ElectrifAi LLC, Tata Consultancy Services Limited and Trianz Incorporated.

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Data Analytics Outsourcing Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Descriptive
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Predictive
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Prescriptive
6.3.1 Market Trends
6.3.2 Market Forecast
7 Market Breakup by Application
7.1 Sales Analytics
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Marketing Analytics
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Finance and Risk Analytics
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Supply Chain Analytics
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Others
7.5.1 Market Trends
7.5.2 Market Forecast
8 Market Breakup by Component
8.1 Solutions
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Services
8.2.1 Market Trends
8.2.2 Market Forecast
9 Market Breakup by Vertical
9.1 Retail
9.1.1 Market Trends
9.1.2 Market Forecast
9.2 Automotive
9.2.1 Market Trends
9.2.2 Market Forecast
9.3 Manufacturing
9.3.1 Market Trends
9.3.2 Market Forecast
9.4 BFSI
9.4.1 Market Trends
9.4.2 Market Forecast
9.5 IT and Telecom
9.5.1 Market Trends
9.5.2 Market Forecast
9.6 Others
9.6.1 Market Trends
9.6.2 Market Forecast
10 Market Breakup by Region
10.1 North America
10.1.1 United States
10.1.1.1 Market Trends
10.1.1.2 Market Forecast
10.1.2 Canada
10.1.2.1 Market Trends
10.1.2.2 Market Forecast
10.2 Asia Pacific
10.2.1 China
10.2.1.1 Market Trends
10.2.1.2 Market Forecast
10.2.2 Japan
10.2.2.1 Market Trends
10.2.2.2 Market Forecast
10.2.3 India
10.2.3.1 Market Trends
10.2.3.2 Market Forecast
10.2.4 South Korea
10.2.4.1 Market Trends
10.2.4.2 Market Forecast
10.2.5 Australia
10.2.5.1 Market Trends
10.2.5.2 Market Forecast
10.2.6 Indonesia
10.2.6.1 Market Trends
10.2.6.2 Market Forecast
10.2.7 Others
10.2.7.1 Market Trends
10.2.7.2 Market Forecast
10.3 Europe
10.3.1 Germany
10.3.1.1 Market Trends
10.3.1.2 Market Forecast
10.3.2 France
10.3.2.1 Market Trends
10.3.2.2 Market Forecast
10.3.3 United Kingdom
10.3.3.1 Market Trends
10.3.3.2 Market Forecast
10.3.4 Italy
10.3.4.1 Market Trends
10.3.4.2 Market Forecast
10.3.5 Spain
10.3.5.1 Market Trends
10.3.5.2 Market Forecast
10.3.6 Russia
10.3.6.1 Market Trends
10.3.6.2 Market Forecast
10.3.7 Others
10.3.7.1 Market Trends
10.3.7.2 Market Forecast
10.4 Latin America
10.4.1 Brazil
10.4.1.1 Market Trends
10.4.1.2 Market Forecast
10.4.2 Mexico
10.4.2.1 Market Trends
10.4.2.2 Market Forecast
10.4.3 Others
10.4.3.1 Market Trends
10.4.3.2 Market Forecast
10.5 Middle East and Africa
10.5.1 Market Trends
10.5.2 Market Breakup by Country
10.5.3 Market Forecast
11 SWOT Analysis
11.1 Overview
11.2 Strengths
11.3 Weaknesses
11.4 Opportunities
11.5 Threats
12 Value Chain Analysis
13 Porters Five Forces Analysis
13.1 Overview
13.2 Bargaining Power of Buyers
13.3 Bargaining Power of Suppliers
13.4 Degree of Competition
13.5 Threat of New Entrants
13.6 Threat of Substitutes
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
15.3.1 Accenture PLC
15.3.1.1 Company Overview
15.3.1.2 Product Portfolio
15.3.1.3 Financials
15.3.1.4 SWOT Analysis
15.3.2 Capgemini Services SAS
15.3.2.1 Company Overview
15.3.2.2 Product Portfolio
15.3.2.3 Financials
15.3.2.4 SWOT Analysis
15.3.3 Fractal Analytics Inc.
15.3.3.1 Company Overview
15.3.3.2 Product Portfolio
15.3.4 Genpact Ltd.
15.3.4.1 Company Overview
15.3.4.2 Product Portfolio
15.3.4.3 Financials
15.3.4.4 SWOT Analysis
15.3.5 Infosys Ltd.
15.3.5.1 Company Overview
15.3.5.2 Product Portfolio
15.3.5.3 Financials
15.3.5.4 SWOT Analysis
15.3.6 International Business Machines (IBM) Corporation
15.3.6.1 Company Overview
15.3.6.2 Product Portfolio
15.3.6.3 Financials
15.3.6.4 SWOT Analysis
15.3.7 Mu Sigma Inc.
15.3.7.1 Company Overview
15.3.7.2 Product Portfolio
15.3.8 Electrifai LLC
15.3.8.1 Company Overview
15.3.8.2 Product Portfolio
15.3.9 Tata Consultancy Services Ltd.
15.3.9.1 Company Overview
15.3.9.2 Product Portfolio
15.3.9.3 Financials
15.3.9.4 SWOT Analysis
15.3.10 Trianz Incorporated
15.3.10.1 Company Overview
15.3.10.2 Product Portfolio
15.3.11 Wipro Limited
15.3.11.1 Company Overview
15.3.11.2 Product Portfolio
15.3.11.3 Financials
15.3.11.4 SWOT Analysis
15.3.12 ZS Associates Inc.
15.3.12.1 Company Overview
15.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Data Analytics Outsourcing Market: Major Drivers and Challenges
Figure 2: Global: Data Analytics Outsourcing Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Data Analytics Outsourcing Market: Breakup by Type (in %), 2022
Figure 4: Global: Data Analytics Outsourcing Market: Breakup by Application (in %), 2022
Figure 5: Global: Data Analytics Outsourcing Market: Breakup by Component (in %), 2022
Figure 6: Global: Data Analytics Outsourcing Market: Breakup by Vertical (in %), 2022
Figure 7: Global: Data Analytics Outsourcing Market: Breakup by Region (in %), 2022
Figure 8: Global: Data Analytics Outsourcing Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 9: Global: Data Analytics Outsourcing (Descriptive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 10: Global: Data Analytics Outsourcing (Descriptive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 11: Global: Data Analytics Outsourcing (Predictive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 12: Global: Data Analytics Outsourcing (Predictive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 13: Global: Data Analytics Outsourcing (Prescriptive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 14: Global: Data Analytics Outsourcing (Prescriptive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 15: Global: Data Analytics Outsourcing (Sales Analytics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 16: Global: Data Analytics Outsourcing (Sales Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 17: Global: Data Analytics Outsourcing (Marketing Analytics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 18: Global: Data Analytics Outsourcing (Marketing Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 19: Global: Data Analytics Outsourcing (Finance and Risk Analytics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 20: Global: Data Analytics Outsourcing (Finance and Risk Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 21: Global: Data Analytics Outsourcing (Supply Chain Analytics) Market: Sales Value (in Million US$), 2017 & 2022
Figure 22: Global: Data Analytics Outsourcing (Supply Chain Analytics) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 23: Global: Data Analytics Outsourcing (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
Figure 24: Global: Data Analytics Outsourcing (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 25: Global: Data Analytics Outsourcing (Solutions) Market: Sales Value (in Million US$), 2017 & 2022
Figure 26: Global: Data Analytics Outsourcing (Solutions) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 27: Global: Data Analytics Outsourcing (Services) Market: Sales Value (in Million US$), 2017 & 2022
Figure 28: Global: Data Analytics Outsourcing (Services) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 29: Global: Data Analytics Outsourcing (Retail) Market: Sales Value (in Million US$), 2017 & 2022
Figure 30: Global: Data Analytics Outsourcing (Retail) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 31: Global: Data Analytics Outsourcing (Automotive) Market: Sales Value (in Million US$), 2017 & 2022
Figure 32: Global: Data Analytics Outsourcing (Automotive) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 33: Global: Data Analytics Outsourcing (Manufacturing) Market: Sales Value (in Million US$), 2017 & 2022
Figure 34: Global: Data Analytics Outsourcing (Manufacturing) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 35: Global: Data Analytics Outsourcing (BFSI) Market: Sales Value (in Million US$), 2017 & 2022
Figure 36: Global: Data Analytics Outsourcing (BFSI) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 37: Global: Data Analytics Outsourcing (IT and Telecom) Market: Sales Value (in Million US$), 2017 & 2022
Figure 38: Global: Data Analytics Outsourcing (IT and Telecom) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 39: Global: Data Analytics Outsourcing (Other Verticals) Market: Sales Value (in Million US$), 2017 & 2022
Figure 40: Global: Data Analytics Outsourcing (Other Verticals) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 41: North America: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 42: North America: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 43: United States: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 44: United States: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 45: Canada: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 46: Canada: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 47: Asia Pacific: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 48: Asia Pacific: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 49: China: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 50: China: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 51: Japan: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 52: Japan: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 53: India: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 54: India: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 55: South Korea: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 56: South Korea: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 57: Australia: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 58: Australia: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 59: Indonesia: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 60: Indonesia: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 61: Others: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 62: Others: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 63: Europe: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 64: Europe: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 65: Germany: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 66: Germany: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 67: France: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 68: France: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 69: United Kingdom: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 70: United Kingdom: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 71: Italy: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 72: Italy: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 73: Spain: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 74: Spain: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 75: Russia: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 76: Russia: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 77: Others: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 78: Others: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Latin America: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 80: Latin America: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 81: Brazil: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 82: Brazil: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 83: Mexico: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 84: Mexico: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 85: Others: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 86: Others: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 87: Middle East and Africa: Data Analytics Outsourcing Market: Sales Value (in Million US$), 2017 & 2022
Figure 88: Middle East and Africa: Data Analytics Outsourcing Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 89: Global: Data Analytics Outsourcing Industry: SWOT Analysis
Figure 90: Global: Data Analytics Outsourcing Industry: Value Chain Analysis
Figure 91: Global: Data Analytics Outsourcing Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Data Analytics Outsourcing Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Data Analytics Outsourcing Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Data Analytics Outsourcing Market Forecast: Breakup by Application (in Million US$), 2023-2028
Table 4: Global: Data Analytics Outsourcing Market Forecast: Breakup by Component (in Million US$), 2023-2028
Table 5: Global: Data Analytics Outsourcing Market Forecast: Breakup by Vertical (in Million US$), 2023-2028
Table 6: Global: Data Analytics Outsourcing Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 7: Global: Data Analytics Outsourcing Market Structure
Table 8: Global: Data Analytics Outsourcing Market: Key Players

Companies Mentioned

  • Accenture PLC
  • Capgemini Services SAS
  • Fractal Analytics Inc.
  • Genpact Limited
  • Infosys Limited
  • International Business Machines (IBM) Corporation
  • Mu Sigma Inc.
  • ElectrifAi LLC
  • Tata Consultancy Services Limited
  • Trianz Incorporated
  • Wipro Limited
  • ZS Associates Inc.

Methodology

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