Indian Data Analytics Industry Analysis – 2018 and Beyond
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Industry Analysis Report Title: Indian Data Analytics Industry Analysis – 2018 and Beyond
Year of Publication: December 2017
No. of Pages: 12 (twelve pages)
EXECUTIVE SUMMARY
There are around 600 analytics firms in India as on 2017. Among them 50 firms are niche firms, 80+ are pure analytics service providers, 200+ are analytics product/software firms and around 200+ are incumbent firms. Only in 2015, 100+ analytics startups came up in India. According to Harvard Business Review Digital Evolution Index-2017, artificial intelligence (AI), automation and big data along with digitization are going to impact the 50% of the world economy (Total World Economy: $74 trillion in 2017). As on 2017, India has 462 million Internet users contributing to digital economy. The current digital technology has potential to automate 1 billon jobs globally worth $14.6 trillion. Some insights from Indian Analytics Industry:
- Digital economy in India is going to touch $1 trillion by 2022 from current $450 billion (2017). Digitization has potential to create 30 million jobs in India by 2024-25.
- Global Big Data + Analytics market is to increase from $150.8 billion in 2017 to $210 billion by 2020
- Global business analytics market is worth $18.3 billion out of $150.8 billion Global Big Data + Analytics market. i.e. 11%
- Indian Business Analytics market is worth around 10% ($2.03 billion) out of $18.3 billion global business analytics market. Indian business analytics industry poised to grow from current (2017) $2.03 billion to $16 billion by 2025 @ CAGR of 23.8%
- 60% of the revenues to Indian analytics market come from US, 8% from UK, 5% from Australia, 2% from Canada, 4% India domestic market and 21% rest of the world.
BFSI, e-commerce, fintech, telecom are trend setters for analytics in India. Retail, manufacturing, media, and advertising are adopting analytics. Healthcare and education are yet to make a mark in analytics in India.
