According to a new report, published by KBV research, The Global Data Analytics Outsourcing Market size is expected to reach $125.5 billion by 2031, rising at a market growth of 35.0% CAGR during the forecast period.
The BFSI segment is leading the Global Data Analytics Outsourcing Market by Industry in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $38.7 million by 2031. Detecting and mitigating fraud and managing financial risks are critical in the BFSI sector. Outsourcing providers offer specialized fraud detection and risk management analytics, utilizing advanced technologies like machine learning and AI to identify anomalies and mitigate risks effectively. The BFSI sector requires advanced analytical tools and technologies such as predictive modeling, customer segmentation, and financial forecasting.
The Financial Analytics segment is anticipating a CAGR of 34.7% during (2024 - 2031). Financial data is highly complex and includes various types, such as transaction records, market data, and risk assessments. Outsourcing providers have the expertise and tools to handle this complexity, offering advanced analytical capabilities that can uncover insights and patterns within vast datasets. Financial institutions face stringent regulatory requirements and must produce accurate reports for compliance purposes
Full Report: https://www.kbvresearch.com/data-analytics-outsourcing-market/
The North America region dominated the Global Data Analytics Outsourcing Market by Region in 2023, and would continue to be a dominant market till 2031; thereby, achieving a market value of $45.4 billion by 2031. The Europe region is experiencing a CAGR of 34.7% during (2024 - 2031). Additionally, The Asia Pacific region would showcase a CAGR of 35.7% during (2024 - 2031).
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