BENGALURU/
PRNewswire/ -- ? A study carried out by Analytics India Magazine and AnalytixLabs titled 'Analytics India Industry Study 2017', suggests that the Analytics/Data science/Big Data industry in India is currently estimated to be $2.03 Billion annually in revenues and that it is growing at a healthy rate of 23.8% CAGR.
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According to the study, the industry in India is expected to almost double by 2020, with a sizable portion of around 24% being attributed to Big Data. It also suggests that of all the annual flow, 12% can be attributed to advanced analytics, predictive modelling and data science.
An interesting insight by the study reveals that almost 60% of analytics revenue in India comes from analytics exports to the USA. Others that share a part are UK with 8.4% of revenues followed by Australia and Canada. As for the revenues generated from Indian firms, it amounts to 4% of total analytics revenues.
In terms of sectors contributing to analytics revenue, finance and banking continues to be the largest contributor standing at 37% of the total amounting to $756 Million in revenues. This is a 31% increase compared to last year. Others that follow are marketing and advertising, e-commerce, pharma and healthcare.
The study suggests Delhi/NCR to be the biggest contributor amongst other Indian cities, with $565 Million revenue coming from the capital city. It is 28% of the total market size. This is followed by Bengaluru at 27%.
While listing the analytics professionals in India, the study found that around 12,000 freshers were added to the analytics workforce in India this year, which is up from 8,500 freshers last year. The universities and schools that these analytics professionals were seen graduating from were University of Mumbai, Delhi University, Kendriya Vidyalaya and Indian School of Business among others .
As for the company size, almost 40% of analytics professionals in India are employed with large-sized companies, with more than 10,000 of total employee base. Midsize organizations employ 33% of all analytics professionals in India, while startups employ 27% of analytics professionals.
The study says that startups have significant contribution to overall output of analytics in India. Even though small in absolute term, the overall impact is increasing significantly with small to mid-size organizations in India.
Sumeet Bansal, CEO and Founder, AnalytixLabs shared, "The study quite evidently represents a positive picture of the Indian analytics industry and is likely to create more opportunities for professionals dwelling in the space. The increased adoption of Big Data by SMEs is a strong indicator of sustainable growth for the industry. With the report suggesting that analytics industry is expected to double by the year 2020, it is set to bring equal opportunities for all - starting from fresher to experienced professionals in the space."
Bhasker Gupta, CEO and Founder, Analytics India Magazine said, "Deployment of analytics is becoming critical to a business and from performing simple tasks to sophisticated ones, industries are relying extensively on analytics. This growing dependence has given a major boost to the analytics industry, particularly as a leader in analytics export."
He added, "India is definitely emerging as a growing hub for analytics, and this study is a representative of that. We have covered all the essential metrics for the study such as geographies served, analytics market by sector type, by cities, analytics professionals etc. and is a must read for analytics professionals."
The study overall is representative of a booming analytics industry in India and as the numbers suggests, it is expected to grow sizably in the future too.
Access the complete study here:
http://analyticsindiamag.com/analytics-india-industry-study-2017-by-analytixlabs-and-analytics-india-magazine/
About Analytics India Magazine (AIM):
AIM is India's no.1 platform on analytics, data science and Big Data, dedicated to passionately championing and promoting the ecosystem in India. It was started in May 2012 by Bhasker Gupta with a vision to create a hub for thousands of analytics professionals across India. AIM is the pre-eminent source of news, information and analysis for the Indian analytics ecosystem, covering news, thought articles, research works and case studies. The website was established with the aim to evangelize analytics in India through healthy discussion and idea dissemination on next-gen analytics within India.
Visit AIM at http://www.analyticsindiamag.com.
About AnalytixLabs:
AnalytixLabs pioneers in analytics training since 2011 and as one of the first analytics training institutes, it is widely acclaimed and known for high quality training by industry experts themselves. After establishing ourselves as the top analytics training institute in Delhi NCR, we slowly and steadily progressed to earn the same reputation pan-India based on their stellar record and student satisfaction. Their students are placed in leading companies across industries and are focused at helping their clients develop skills in basic and advanced analytics to enable them to emerge as 'Industry Ready' professionals. It was co-founded by Sumeet Bansal, Ankita Gupta and Chandra Mouli.
Visit AnalytixLabs at www.analytixlabs.co.in.
Media Contact:
Bhasker Gupta
Founder and CEO
Analytics India Magazine Pvt Ltd
bhasker.gupta@analyticsindiamag.com
+91-9916006869
SOURCE Analytics India Magazine Pvt Ltd