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Global Data Analytics Outsourcing Market Driven by Growing Need for Better Cost Reduction Methods and Faster Efficiency Improvement

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Published on : Aug 17, 2017

Albany, New York, August 17, 2017: The research report, titled “Global Data Analytics Outsourcing Market 2017-2021,” is a descriptive analysis of what elements are causing the market to be driven or to be inhibited, and what players or investors can do to make the most of the current market standing, while avoiding the pitfalls. The report discusses the overall growth prospects of the global data analytics outsourcing market, including the size of the market, which is generated by including the revenue and demand for services and solutions offered by business process outsourcing companies that are based off cloud computing platforms.

Outsourcing of data analytics implies the use of relevant services from third party service providers by organizations, to partially or completely carry out data analytics of the organization. It is currently one of the key strategies being implemented to enhance operational efficiency and aid companies in better decision making. Large establishments usually create large volumes of data through departments such as procurement, HR, sales and marketing, and production. Data analysis is used to infer actionable insights from these volumes of information.

According to the report, the global data analytics outsourcing market is expected to expand at a blisteringly fast CAGR of 30.25% within a forecast period from 2017 to 2021. One of the leading factors augmenting the natural demand growth rate in the market is the staggering demand for cost cutting in data analytics, coupled with improvements in efficiency. Third party data analytic companies can provide just that to clients, by taking up their work and using specialized or even customized procedures of data analysis.

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However, the global data analytics outsourcing market is currently being restrained by factors such as the extremely diverse as well as dynamic nature of client requests that players in the market need to handle. The swiftly changing nature of customer demands is currently making it very difficult for players to offer customized solutions to all their client pools, thereby reducing the efficiency with which the overall market may grow.

One of the current trends affecting the global data analytics outsourcing market positively is the emergence of the business process as a service. The use of cloud computing in BPO services and solutions is creating a very high rate of awareness and demand for data analytics outsourcing across several key application areas.

The report also discusses the competitive landscape of the global data analytics outsourcing market which includes up to date information on their business profiles, key market strategies currently implemented, overall prediction of each key player, and their services portfolio. The list of top players in the global data analytics outsourcing market so far, includes Accenture, Capgemini, Fractal Analytics, TCS, Wipro, and ZS (ZS Associates). Other prominent players include Cognizant, Evalueserve, EXL Service (EXL), Genpact, Gramener, HPE, IBM, Infosys, Latentview (LatentView Analytics), and WNS Global.

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