The Big Data and Analytics industry has gone through major disruptions in the last five years. Analytics & Data Science Industry in India 2019 As per a study by Analytics India magazine with Praxis Business School. The cumulative analytics market in India stands at $30 Billion. Outsourcing is the main driver of revenue for Indian vendors accounting for $27 billion in revenue. The domestic analytics market stands at $3.03 billion in size and is expected to double by 2025. Some of the other highlights of the report include:
- Analytics industry currently accounts for almost 21% of the whole IT/ITeS industry in India. Domestic IT/ITes firms are the biggest players in the analytics outsourcing market. They form almost 35% of the analytics outsourcing market. MNC IT providers come at a very close second at 32%.
- In terms of geographies served, almost 47% of analytics revenues in India come from exports to the USA
- Finance & Banking, Marketing & advertising contributes 36% & 25% of the analytics market in India.
- The number of people employed in Large, Mid and Startup organisations are 38%, 33% & 29% of the total analytics professionals in India.
Data Science Leaders Outlook in India 2019 by Analytics India Magazine and Simplilearn measures the analytics leaders’ sentiment around the maturity level of Data Science in organisations, investment in analytics tools, talent and the companies’ focus on decision-making business outcomes. The report takes stock of the analytics landscape in India and how enterprises have moved up the analytics maturity index. Some of the key highlights include:
- Analytics leaders demonstrated a strong positive outlook towards the industry. Net Sentiment Score among analytics leaders in India is at a five-year high of 85%.
- Analytics leaders emphasise that the demand for analytics in their organisation is expected to increase over the next 12 months.
- As per the report, 87% of decision makers plan to increase their analytics workforce over the next 12 months
Key highlights for Start-ups and Fintech in Union Budget includes:
- Start-ups will not be subjected to any kind of scrutiny in respect to share value premium.
- The government will set-up a new TV program on DD channe;, exclusively for startups in the country
- To resolve the so-called ‘Angel Tax’ issue, startups and their investors who file requisite declarations and provide information in their returns will not be subjected to any kind of scrutiny in respect of valuations of share premiums.