Global data analytics outsourcing market to reach $3.3bn by 2019

The tech research consultancy’s report on the global data analytics outsourcing market forecasts that the market will be worth more than $3.3 billion by 2019 as data analytics outsourcing gains cost savings, operational efficiency and quality improvement for companies.

Faisal Ghaus, vice-president of Technavio said: “The exponential increase in data across all industries and need for accurate informed strategic decisions are fuelling data analytics market growth. This service helps organisations create differentiation in their customer offerings that give competitive edge over others.”

The report states that manufacturers are recognising the benefits of integrating data analytics with the Internet of Things (IoT) to gain competitive advantage. The demand from this sector for digital transformation and predictive analysis and maintenance is expected to drive the growth of the data analytics outsourcing market during the forecast period.

It looks at Americas, EMEA and APAC regions, with APAC the dominant region in the global data analytics outsourcing market. India is the biggest outsourcing market in this region with a market share of around 70%.