The North America Data Analytics Outsourcing Market would witness market growth of 34.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Data Analytics Outsourcing Market by Country in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $32,571.8 million by 2031. The Canada market is experiencing a CAGR of 37.2% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 36% during (2024 - 2031).
As per the Investment Promotion and Facilitation Agency, Microsoft will skill 1 Lakh developers in India in the latest AI technologies and tools under its AI Odyssey initiative. The company will also invest INR 16,000 Cr to set up 3 more data centres in Telangana. The expansion of data centres in India is significantly boosting the country’s data processing capabilities.
Moreover, the adoption of data analytics outsourcing has gained momentum due to several factors. Organizations adopt data analytics outsourcing to leverage elastic computing resources provided by cloud-based platforms. This scalability allows businesses to dynamically allocate computational power and storage based on the volume of data and analytics demands, optimizing cost efficiency.
The rapid growth of e-commerce in Mexico leads to a massive increase in online transactions, customer interactions, and digital touchpoints. This surge in data requires robust analytics solutions, driving demand for outsourcing services to manage, analyze, and leverage this data effectively. According to the International Trade Administration (ITA), the domestic e-commerce industry was valued at USD 26.2 billion in 2022, representing a 23 percent increase over 2021. Mexico is positioned among the top five countries in terms of e-commerce retail growth rate. Mexico’s e-commerce sector value will reach USD 70.4 billion by 2027.
Free Valuable Insights: The Data Analytics Outsourcing Market is Predict to reach 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 U.S., Mexico, Canada, and Rest of North America.
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