Data Analytics Outsourcing Market Size, Share and Forecast

SAN FRANCISCO - Aug. 9, 2023 - PRLog -- According to a new market research report published by sheer analytics and insights, The Global Data Analytics Outsourcing Market was $4.3 Bn in 2020, and it is expected to reach $36.3 Bn by 2031. It is eventually growing at a commendable high compound annual growth rate CAGR of 20.6% by 2031.

The Data Analytics Outsourcing market has emerged as a strategic avenue for businesses seeking to unlock the full potential of their data, gain actionable insights, and make informed decisions. In the era of big data, the volume, velocity, and variety of information generated have created both challenges and opportunities, positioning data analytics outsourcing as a crucial solution.

Data analytics outsourcing involves entrusting specialized third-party providers with the task of analyzing and deriving meaningful insights from raw data. These providers possess the expertise, technology, and analytical tools required to process and interpret data, enabling businesses to focus on core operations while leveraging the power of data-driven decision-making.

One of the key drivers behind the market's growth is the increasing complexity of data analysis. With data originating from diverse sources and in various formats, extracting valuable insights demands advanced analytics capabilities. Data analytics outsourcing providers offer a range of services, including data cleansing, visualization, predictive modeling, and machine learning, enabling businesses to uncover patterns and trends that drive innovation and competitive advantage.

The exponential growth of data has led to a surge in demand for data analytics skills. However, the scarcity of data science talent poses a challenge for organizations aiming to build in-house teams. Outsourcing data analytics alleviates this constraint by providing access to a pool of skilled professionals proficient in handling complex data analysis tasks.

Browse the full report at https://www.sheeranalyticsandinsights.com/market-report-research/data-analytics-outsourcing-market-21

Some of the major players in the Global Data Analytics Outsourcing Market include Accenture PLC, Capgemini SE, Cognizant Technology Solutions Corp., Genpact Ltd., Gramener, IBM Corporation, Infosys Ltd., Mu Sigma Inc., Tata Consultancy Services Ltd., Wipro Ltd., ZS Associates Inc.