The report ‘Analytics India Industry Study’ for 2021 by AIM provides an overview of the analytics market in India and its breakup across sectors, geographies, company sizes, work experience, and demographics. The market size for the analytics domain increased to $45.4 Bn in FY 2021 – a 5% growth in the market size over last year when it was $35.9 Bn. The analytics domain accounts for 23.4% of the Indian IT/ITES market size in 2021. This proportion has increased from the 19.0% share last year. With the current expected CAGRs (21.2% for analytics; 8.1% for IT), the analytics industry will contribute to 41.5% of the IT/ITES market by 2026.
The global data analytics market has been estimated to reach USD 24.63 billion in 2021 and is projected to grow at a CAGR of 25% till 2030 as per Quince Market Insights. According to the report by World Economic Forum in 2018, 85% of companies will adopt data analytics and big data by 2022, which will generate jobs with related roles.
Indian Fintechs have attracted close to $10 billion in equity capital funding, over the past decade, with digital payments and lending startups being the largest recipients in this sector as per the report titled ‘100 Unicorns: India’s changing corporate landscape’. India has the third highest unicorns globally after the US and China, which command a total valuation of $90 billion. Fintechs, including e-commerce, have been leaders in the Indian unicorn landscape with five of the Fintech unicorns having an aggregate valuation of $22 billion – highest amongst Indian unicorns, the report added.
The big data analytics in retail market was estimated at USD 4.18 billion in 2020 and is expected to reach USD 13.26 billion by the end of 2026, registering a CAGR of 21.20% during the forecast period (2021-2026) as per the Global Big Data Analytics in Retail MarketResearch Report
