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Written by Business News » Updated on: January 15th, 2025
IMARC Group, a leading market research company, has recently released a report titled “Data Analytics Outsourcing Market Report by Type (Descriptive, Predictive, Prescriptive), Application (Sales Analytics, Marketing Analytics, Finance and Risk Analytics, Supply Chain Analytics, and Others), Component (Solutions, Services), Vertical (Retail, Automotive, Manufacturing, BFSI, IT and Telecom, and Others), and Region 2025-2033”. The study provides a detailed analysis of the industry, including the data analytics outsourcing market share, growth, trends, size and forecast. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
The global data analytics outsourcing market size reached USD 14.4 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 131.3 Billion by 2033, exhibiting a growth rate (CAGR) of 25.06% during 2025-2033.
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Factors Affecting the Growth of the Data Analytics Outsourcing Industry:
Growing Demand for Real-Time Data Insights
Real-time data insights drive the Data Analytics Outsourcing market. Businesses need timely information to make smart decisions and stay competitive. With daily data generation at massive scales, real-time analysis is essential. Outsourcing allows companies to access specialized skills and advanced technology. They can avoid the costs of in-house teams. This trend is especially notable in finance, healthcare, and retail. Here, quick decisions can lead to major advantages. As companies seek to boost efficiency and enhance customer experiences, demand for outsourced data analytics will rise, driving significant market growth.
Increased Focus on Cost Efficiency and Scalability
Cost efficiency pushes businesses to outsource data analytics. Companies want to cut costs and maintain quality. Outsourcing helps them avoid big investments in infrastructure, software, and skilled labor. This way, they can focus on their core functions. Additionally, outsourcing offers scalability. Organizations can adjust their analytics capabilities to meet changing business demands. As the market evolves, many adopt flexible outsourcing models. These models accommodate various project scopes and timelines. Such adaptability enhances cost-effectiveness. Outsourcing helps companies respond quickly to market changes. This makes it crucial for their data analytics strategies.
Emergence of Advanced Technologies
Advanced technologies such as AI, ML, and big data are transforming the Data Analytics Outsourcing market. They enable more complex data processing and provide deeper insights. Predictive analytics is now more accessible. As businesses seek to use these innovations, outsourcing offers access to cutting-edge tools and expertise. Service providers are adding AI and ML to their data analytics services. This helps clients achieve new levels of efficiency and insight. The trend matters a lot in marketing and managing customer relationships. Data-driven strategies boost customer engagement and retention. As companies adopt these technologies, they'll increasingly need outsourced data analytics services. This growth will expand the market significantly.
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Data Analytics Outsourcing Market Report Segmentation:
Breakup by Type:
Predictive analytics, which leverages historical data and AI to forecast future trends, holds the largest market share, enabling businesses to anticipate user behavior and gain a competitive advantage.
Breakup by Application:
Marketing analytics, which provides insights into user behavior and preferences, holds the largest market share, enabling businesses to personalize campaigns, optimize marketing spend, and improve campaign performance.
Breakup by Component:
The market is segmented into solutions, which provide platforms and tools for data analysis, and services, which offer expert guidance on data analytics strategy and implementation.
Breakup by Vertical:
The BFSI sector, which heavily relies on data analytics for risk management and regulatory compliance, holds the largest market share, as exemplified by Krungsri's partnership with Kyndryl for enhanced digital banking through data analytics solutions.
Breakup by Region:
North America, driven by advanced technology infrastructure and strategic acquisitions like Accenture's acquisition of OPENSTREAM, holds the largest market share in data analytics outsourcing.
Global Data Analytics Outsourcing Market Trends in 2025:
The Data Analytics Outsourcing market is about to change significantly. More businesses are turning to external providers for analytics. This change improves decision-making and offers a competitive advantage. By 2025, AI and machine learning will significantly affect services. These technologies will help providers give clients accurate insights and predictive analytics, adapting to their growing needs. Cost efficiency and scalability will prompt companies to adopt flexible outsourcing models. Such models enable adjustments to analytics capabilities as business needs change. As the market changes, organizations will collaborate more strategically with outsourcing partners. This partnership will spark innovation and drive growth in data analytics.
Top Companies Operated in Data Analytics Outsourcing Industry:
Key Highlights of the Report:
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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