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News » Data analytics outsourcing market to hit $44.9Bn by 2028

Data analytics outsourcing market to hit $44.9Bn by 2028

Data analytics outsourcing 2028
Photo from ResearchAndMarkets.co

DUBLIN, IRELAND — The global data analytics outsourcing market is expected to grow rapidly from $8.5 billion in 2022 to $44.9 billion by 2028, exhibiting a compound annual growth rate (CAGR) of 31.5%.

According to a report by ResearchAndMarkets.com, this strong growth trajectory reflects the increasing reliance on external data analytics expertise by companies worldwide.

The market’s expansion mirrors the broader trend of digitalization and cloud services adoption, with analytics firms tailoring their services to boost efficiency and reduce client costs.

Advancements in the Internet of Things (IoT) and a shift towards data-driven decision-making are also fueling the demand for outsourced analytics services. At the same time, analyzing social media data has become crucial for companies aiming to understand consumer behaviors and adapt to market trends. 

Moreover, the rise in online retail and the integration of predictive analytics are propelling the market forward.

The report added that the data analytics outsourcing market exhibits robust growth across various segments like service offerings, applications, and industry-specific solutions, predicting a strong upward trend for the foreseeable future.

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