Data Analytics Outsourcing Market is estimated to be US$ 19.35 billion by 2030 w… – Press Release

Covina, April 05, 2023 (GLOBE NEWSWIRE) — “According to the latest research study, the demand of Data Analytics Outsourcing Market accounted for US$ 2.6 billion in 2020 and is estimated to be US$ 19.35 billion by 2030 and is anticipated to register a CAGR of 22.1%.

Key Highlights:

• In August 2021, The UK is today launching a package of measures to help it seize the opportunities of data to boost growth, trade and improve its public services. Data underpins innovation and the global digital economy, everyday apps and cloud computing systems. It allows businesses to trade, drives international investment, supports law enforcement agencies tackling crime, the delivery of critical public services and health and scientific research.
•  In January 2020, The Financial Conduct Authority (FCA) and the Bank of England (Bank) outlined their plans to develop their data and analytics capabilities. Both authorities depend on access to high-quality data to fulfill their respective missions of maintaining monetary and financial stability, market integrity, effective competition, and consumer protection.

Analyst View:

Predictive analytics dominated the global data analytics outsourcing market share, and it is expected to continue to do so in the coming years as businesses adopt analytics techniques to analyze structured and unstructured data, allowing them to make better decisions. This will open up more opportunities for descriptive analytics in the coming years. Increased usage of linked devices such as robotics, sensors, and smart phones is promoting global industrial growth, which is likely to promote data analytics outsourcing market growth. Enterprises are being transformed from production facilities to smart organizations as a result of the adoption of analytics across numerous industrial verticals.

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