According to TechSci Research report, “India Analytics Market - By Region, Competition Forecast and Opportunities, 2029”, The India analytics market is poised for strong growth in the forecast period from 2025 to 2029. Rapid expansion is evident as companies and startups increasingly offer analytics services and products tailored to various industries. Different sectors exhibit varying levels of analytics adoption, contributing to anticipated market growth.
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The surge in analytics tool utilization spans diverse applications such as trade market prediction, healthcare data analysis, research insights, and traffic trend forecasting. This broad application scope is a key driver of market expansion, particularly in enhancing demand forecasting capabilities to empower organizations with informed decision-making and profitability gains. Notably, significant investments by government agencies and industries like banking, e-commerce, and IT services in big data and business intelligence tools underscore robust industry demand.
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Moreover, the e-commerce sector has revolutionized traditional consumer purchasing experiences, placing emphasis on customer service analysis and tailored email campaigns for online and social media advertising. Retailers are increasingly focusing on real-time analysis of consumer behavior facilitated by the proliferation of connected devices. Leveraging real-time analytics enables businesses to offer personalized promotions that foster customer loyalty and retention.
India analytics market is segmented into component, verticals, type, organization size, and region. Based on component, the market is segmented into services and software. Based on verticals, the market is segmented into BFSI, e-commerce, healthcare, IT & telecom, and others. Based on type, the market is segmented into business analytics, CRM analytics, supply chain analytics, risk analytics, and location analytics. Based on organization size, the market is segmented into large-sized companies, mid-sized companies, and startups. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among north, east, west, and south.
Based on region, the south region dominate in the India analytics market in 2023 because here, Bengaluru continues to lead as the center of analytics and enterprises and derives approximately 29.4% of the revenues. Moreover, Chennai has the potential to emerge as the data analytics hub of India because Chennai has ecosystem comprising multi-service companies, pure-play analytics companies, Global Capability Centers (GCCs) with significant focus on analytics, and many educational institutions offering data science and business analytics programs.
Based on organization size, large-sized companies dominate in the India analytics market in 2023 due to the abundance of consumer data, reasonable financial restrictions, and the availability of highly qualified data analysts and data scientists. Small and medium-sized businesses (SMEs) are emerging as a very profitable market category that is steadily expanding its market size amid fierce competition. They will have an edge in the future due to their quickly expanding numbers, unique approaches to working with industry professionals, and other factors.
Based on verticals, BFSI segment dominates in the India analytics market in 2023. The segment's expansion may be ascribed to the ongoing usage of data analytics for identifying fraudulent transactions, streamlining procedures, and controlling data hazards. In the recent past, the IT & telecommunications category also held a sizable market share. The category is expanding because of the rising demand for collaboration technologies like web conferencing and video conferencing.
Based on type, business analytics dominate in the India analytics market in 2023 because business analytics has recently received significant attention across many sectors. With so much data floating around in every area of a business such as marketing, sales, finance, and social media. It is crucial to analyze and comprehend the data to improve business choices and market growth.
Key market players in the India analytics market include:
- Tata Consultancy Services
- Wipro Limited
- Infosys Technologies Private Limited
- Capgemini Technology Services India Limited
- Tech Mahindra Limited
- Hexaware Technologies Ltd.
- Accenture India Private Limited
- IBM India Private Limited
- Microsoft Corporation India Pvt. Ltd.
- Mu Sigma Inc.
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“India has seen a significant digital revolution because of the growing use of cellphones, the internet, and electronic payment systems during the previous ten years. The quantity, speed, and diversity of data produced by both corporations and consumers have increased dramatically because of this. As a result, businesses in India are increasingly relying on big data and analytics to sort through this sea of data, understand consumer preferences and behavior, and spur corporate expansion. All these factors suggest that the India analytics market will expand throughout the anticipated era.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“India Analytics Market Segmented By Component (Services, Software), By Verticals (BFSI, E-Commerce, Healthcare, IT & Telecom, Others), By Type (Business Analytics, CRM Analytics, Supply Chain Analytics, Risk Analytics, Location Analytics), By Organization Size (Large-Sized Companies, Mid-Sized Companies, Startups), By Region, Competition, Forecast and Opportunities, 2029” has assessed the India analytics market's future development potential and provides data and information on market size, structure, and projected market growth. The report's goal is to give current market knowledge and assist decision makers in making informed investment decisions. Furthermore, the study identifies and analyses emerging trends, as well as key drivers, constraints, and opportunities in the India analytics market.
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