Data Analytics Outsourcing Market Is Experiencing Tremendous Growth In The North America Region


The growing focus of key players on improving the performance of the application is propelling the growth of the data analytics outsourcing market. For Instance, in March 2019, IBM announced to sign a multimillion-dollar outsourcing contract with Vodafone Idea Limited to deliver Vodafone Idea Limited users with improved customer experience in India. Vodafone Idea Limited has signed this contract with the objective of reducing its IT-related cost. The rapid adoption of data analytics outsourcing owing to the increase in data generated due to the growing number of connected devices in the organization is again fostering the growth of the data analytics outsourcing market. The growing popularity of data analytics outsourcing as a ready-to-go service which is increasing deployment of the analytics in the organization is further projected to foster the growth of the market.

Key players engaged in the global data analytics outsourcing market include Accenture PLC, Capgemini SE, Cognizant Technology Solutions Corp., Fractal Analytics Inc., Genpact Ltd, Trianz, ZS Associates Inc, Tata Consultancy Services Ltd., Opera Solutions, LLC, Associates, Inc, and International Business Machine Corporation.

In September 2020, EVERSANA™, the provider of global commercial services to the life sciences industry launched ACTICS by EVERSANA™, the technology-enabled solution to optimize end-to-end commercial success for life science companies.

Data analytics outsourcing is basically a collaboration model in which a business gives a service provider access to its data and also gets access to valuable insight into the market trends. Businesses utilize the data they get from the service providers for many things like product and service development, market research, cost optimization, customer service, and a lot more. Data analytics can help businesses in realizing their goals, in terms of customer delight, revenue levels, market share, reduction of cost, reduction in employee turnover, and a lot more.

North America is expected to hold a significant share in the global data analytics outsourcing market and this is accredited to the strong presence of the IT industry in the region. According to CompTIA, Inc, the United States is the largest tech market in the world, representing 33% of the total, or approximately $1.6 trillion for 2021. In the U.S., as well as in many other countries, the tech sector accounts for a significant portion of economic activity. Business organizations are opting for Data Analytics Outsourcing services. As a result of this, the companies have realized that they need to concentrate on the quality of data provided rather than on the cost involved.

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