The Europe Data Analytics Outsourcing Market would witness market growth of 34.7% CAGR during the forecast period (2024-2031).
The Germany market dominated the Europe Data Analytics Outsourcing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $7,896.6 million by 2031. The UK market is exhibiting a CAGR of 33.6% during (2024 - 2031). Additionally, The France market would experience a CAGR of 36.2% during (2024 - 2031).
Utilities and large organizations use outsourced analytics to monitor and optimize energy consumption. They can implement energy-saving measures and reduce costs by analyzing usage patterns, weather data, and operational variables. Insurance companies leverage outsourced analytics to build complex risk models that assess policyholder risks based on historical claims data, demographic information, and external factors.
Additionally, in agriculture, outsourced analytics can predict crop yields by analyzing weather data, soil conditions, and historical crop performance. This application helps farmers optimize planting strategies, manage resources, and improve agricultural productivity.
European businesses rapidly adopt advanced analytics tools as part of their digital transformation strategies. This trend drives the demand for data analytics outsourcing services to support integrating and utilizing complex analytics technologies, such as AI and ML. As per Eurostat, large businesses had a bigger share of the very high (26%) and high digital intensity (42%). In 2023, 45% of businesses in the EU bought cloud computing services. Cloud solutions are more prevalent among large businesses than small and medium-sized enterprises. In 2023, 78% of large businesses bought cloud services, while 44% of SMEs did. The emphasis on digital transformation in Europe is leading organizations to rely more on data-driven decision-making.
Free Valuable Insights: The Global Data Analytics Outsourcing Market will Hit USD 125.5 Billion by 2031, at a CAGR of 35%
Based on Industry, the market is segmented into BFSI, IT & Telecom, Manufacturing, Healthcare, Retail & E-commerce, and Others. Based on Application, the market is segmented into Marketing Analytics, Financial Analytics, HR Analytics, Supply Chain Analytics, Sales Analytics, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
By Industry
By Application
By Country
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