Data analytics outsourcing market to hit USD5.9bn by 2020

The global data analytics outsourcing market is expected to register a compounded annual growth rate (CAGR) of 29.1% in the 2015-2020 period to reach USD6.9bn by 2020. According to a report published by Allied Market Research, the global data analytics outsourcing market is forecast to grow at a high rate owing to large amount of data generated by enterprises, increased adoption of mobile devices and social media, as well as the reduction in data storage prices. The report further noted that Asia Pacific will be the highest revenue generation region in the world data analytics outsourcing market. It added that more organizations are turning towards data analytics outsourcing to reduce operational costs, improve efficiency, and enhance customer service, among others.