Assistant Vice-President,
As per market study (Analytics India Magazine and Praxis Business School study, 2019), the cumulative data analytics market size is $30 Bn. The further breakup reveals that the outsourcing is the main driver of revenue for Indian vendors accounting for $27 billion in revenue andthe domestic analytics market stands at $3.03 billion in size. The domestic market is expected to double by 2025. The Indian IT services companies such as TCS, Wipro are leading revenue generators in data analytics services. The market study further states that Bengaluru is the analytics hub with market share of 28%. Looking at the market size for outsourcing business and growth rate of domestic business for data analytics, it is apt to consider challenges for both type of businesses. Currently, India is top outsourcing destination. However, to retain the top spot and harness domestic business opportunities, India needs to tackle challenges such as availability of right skill sets, legal framework/data privacy laws, data capturing mechanism, data availability, accuracy, and timeliness of data. This paper starts with briefly explaining the India's market size of the analytics (offshore and domestic), her current standing and then elaborates the list of challenges and finally concludes with the recommendations to tackle these challenges.
