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India's analytics industry expected to grow eight-fold to US$ 16 billion by 2025: Nasscom

IBEF:  June 24, 2016

Hyderabad: India's analytics industry is expected to grow eight-fold to touch US$ 16 billion by 2025 from the current US$ 2 billion, as per the National Association of Software and Services Companies (Nasscom). Currently, India is among the top ten destinations for analytics and Nasscom expects India to be among the top three in the world by 2025 having 32 per cent share in the global market. Nasscom partners with its members to build a multi-pronged approach that encompasses skill development, thought leadership , products and platforms to realize this vision. There are over 600 analytical firms in India, of which approximately 400 are start-ups, which are positioning the country as an emerging hub for analytics solutions for industries across the globe, stated Mr K S Viswanathan, Vice President, Nasscom during the fourth edition of its 'Big Data and Analytics Summit 2016'. There are currently 90,000 analytics professionals in India working across HR, marketing, risk & security, healthcare and other sectors. Indian analytics market is expected to continue growing at 26 per cent compounded annual growth rate (CAGR) which will enable India soon emerge as a big data and analytics hub of the world.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.