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The global Data Analytics Outsourcing Market is fragmented on the basis of types , applications , verticals , and geographies . Types include descriptive , prescriptive , and predictive . The descriptive a nalytics segment holds the largest share in the overall Data Analytics Outsourcing Market . It can continue expanding throughout the forecast period . Prescriptive analytics too may grow favorably during this time owing to widespread adoption of the same . Predictive analytics employs tools , such as machine learning , artificial intelligence , statistics , and data mining .
As per applications , the industry is divided into supply chain analytics , risk & finance analytics , marketing & sales analytics . Based on verticals , the categories are retail , healthcare , BFSI ( banking , financial services & insurance ), telecom , and media & entertainment . Data analytics in industrial applications has been gaining popularity over the recent past . It brings out unknown correlations , identifies customer preferences , chalks out ongoing market trends , and present hidden patterns . Data analytics in banking & finance tackles risks related to money laundering , card frauds , and illegal trading . Big banks and hedge funds are major end user s of data analytics . Healthcare-related research initiatives , energy exploration , and environmental protection are the other prominent users of data analytics .
On the basis of geographies , the global data analytics outsourcing industry is segmented into L atin America , North America , Europe , Asia Pacific , and the Middle East & Africa . China , Philippines , and India are the three main contributors of the Asia Pacific market . Globally , the Data Analytics Outsourcing Market is dominated by Asia Pacific because of factors , such as technological development , availability of skilled & cheap labor , and a well developed telecom infrastructure . However , demand in the region is hampered by the false idea among customers worldwide that low-cost economies provide inferior quality services . Also , greater preference for local outsourcing is another market restraint . Highest demand for data analytics outsourcing comes from the North America & Western Europe markets . Key global Data Analytics Outsourcing Market participants a re Tata Consultancy Services Ltd ., Genpact Ltd ., Capgemini , Accenture , Wipro Ltd ., and ZS Associates Inc .
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