India Big Data Technology & Service Market - Growth, Trends and Forecast (2020 - 2025)

The Indian Big Data Technology & Service Market is segmented by Solution (Data Analytics, Data Integration, Data Warehousing, Data Visualization), Deployment (On-Premises, Cloud), Organisation Size (Small & Medium Enterprise, Large Enterprise), and End-User Vertical (BFSI, Retail, Telecommunication & IT, Media & Entertainment, Healthcare, Other End-User Industry).

Market Snapshot

Study Period:

2019-2025

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

North America

CAGR:

35.10 %

Major Players:

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Market Overview

  • There has been a proliferation in the Big Data and AI ecosystem with numerous large and small players entering in the past couple of years. Thus India is expected to become one of the largest Big Data Analytics Market in the world with better use cases and significant opportunities for data scientists in the future.
  • According to a recent study by Analytics India Magazine and Praxis Business School, the Domestic IT/ITes firms remain the most significant players in the analytics outsourcing market with TCS earning nearly USD 2 billion revenue a year from analytics. At a market share of 32 percent MNC IT players like Accenture, Cognizant come a close second.
  • In terms of sectors, the BFSI sector continues to be the largest segment being served by the data analytics industry in India and at a market share of 36 percent, it remains the most critical domestic industry for the Big Data Analytics Market in India.
  • The growth of this industry has been widespread and hence apart from the expected role played by the major players there have been a lot of Mid-sized firms and Startups who have equally invested themselves in developing expertise in the analytics segment. This becomes obvious from the analytics professionals employment data by Company size that the study has stated. According to the study, Large Size firms employed about 38% of the analytics professionals, while Mid-Size firms employ about 33% and Start-ups employed about 29% in 2018.

Scope of the Report

Big data analytics is the process of analyzing large sets of raw data to unravel information and patterns within data that will help enterprises make informed business decisions. It is a form of analytics that uses processes like predictive modelling to examine large amount of unstructured data and equip businesses with solutions that helps them stay ahead of the curve.

By Deployment
On-Premises
Cloud/On-Demand
By Organisation Size
Small & Medium Enterprise
Large Enterprise
By End-User Vertical
BFSI
Retail
Telecommunication & IT
Media & Entertainment
Healthcare
Other End User Industry

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Key Market Trends

Increasing Number of Connected Devices

  • The IoT market is growing at a significant rate. This has led to a rise in the number of interconnected smart devices over the Internet, which has, in turn, contributed to the explosion of data. According to the Ericsson Mobility Report 2018, the total Mobile Data Traffic in India is expected to grow at 26% on a year-on-year basis from 2018 to 2024.
  • The proliferation of the Internet will fuel this increase in the number of devices. Internet happens to the primary reason we are experiencing this boom in data. According to the Cisco VNI report, there will be about 4.8 billion internet users in 2022, 60 percent of the global population. The other major factor for the growth in consumption of data will be the increase in global average Wi-Fi speeds that are expected to more than double in Asia-Pacific in 2022 as compared to 2017, the Cisco VNI Global IP Traffic Forecast suggested.
  • Further, the Cisco report adds that Cellular IoT connections are projected to increase from 1 billion in 2018 to 4.1 billion in 2024. This, along with the growth of 5G, will lead to the boom of unstructured data that can be used by the enterprises to predict future market trends. Moreover, non-PC devices are expected to drive global IP traffic by 81 percent, according to the Cisco VNI report. The report adds that 44 percent of global IP traffic will come from smartphones, while only 19 percent of the traffic will come from PCs.
  • This boom in the number of connected devices, the widespread penetration of the internet and the increase in the speed of the internet will lead to a Data boom like never before. The unstructured data generated by the combination of these three shall have to be engineered to find patterns that can be used by the enterprises.

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BFSI Sector to Generate the Maximum Revenue for Big Data Analytics in India

  • In the last few years, financial institutions have achieved exponential growth by building enterprise-wide analytics abilities integrated into business processes throughout the organization. The increase in the analytics business in India can be attributed to the data-heavy financial sector. Top Digital payments firms like Paytm and PhonePe have led the fintech boom in India.
  • According to a recent study by Analytics India Magazine and Jigsaw Academy, the size of the analytics industry in the financial sector is estimated to be USD 1.2 billion. More than 250 firms are expected to be working on some or the other form of financial analytics in India, the study adds.
  • On the basis of financial analytics professionals employed, the report states that about 59% of financial analytics professionals are employed in large companies, 30% in medium-sized companies and 11% in Startups.
  • However, the number of Financial Analytics companies is much less as compared to the North American and Asia-pacific region. Going forward, a thriving Big Data Analytics ecosystem will have to be developed exclusively for the financial sector in India to meet the demands of this sector. Today, according to the study, India accounts for just 7% of global analytics companies, which has enormous potential for growth in the near future primarily driven by the BFSI sector.

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Competitive Landscape

The competitive landscape of the Big Data Technology & Services market in India remains largely fragmented. This is primarily because of the presence of a well-established IT services industry that has been able to leap into the data revolution quickly. In addition to the established players, there are a number of startups and mid-sized companies who specialize in catering to the Big Data needs of the world across various End-User verticals.  Some of the recent developments are as follows:-

  • May 2019 – Mphasis, a Bengaluru based software solutions and services company, announced a strategic partnership with Esgyn Corporation, a pioneer in big data solutions to provide customised solutions to enterprises looking to harness big data for both operational as well as strategic business needs.
  • January 2019 - Apax Partners signed an agreement to invest USD 200 million into India’s second-largest big data firm, Fractal Analytics. The company will use the funds to invest in Artificial Intelligence and Research.
  • June 2018 - The Cross-Tab Group, recently announced the merger of two of its entities Blueocean Market Intelligence and Cross-Tab, to form a new powerful entity - Course5. Course 5 will drive the data revolution for its clientele through analytics, insights and AI.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Introduction to Market Dyanmics

    3. 4.3 Market Drivers

      1. 4.3.1 Reduction in Cost of Implementation will Act as a Driver

      2. 4.3.2 Increasing Number of Connected Devices

    4. 4.4 Market Restraints

      1. 4.4.1 Structural Barriers and Decentralized Systems Act as a Restraint

      2. 4.4.2 Lack of Skilled Professionals

    5. 4.5 Industry Value Chain Analysis

    6. 4.6 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.6.1 Threat of New Entrants

      2. 4.6.2 Bargaining Power of Buyers/Consumers

      3. 4.6.3 Bargaining Power of Suppliers

      4. 4.6.4 Threat of Substitute Products

      5. 4.6.5 Intensity of Competitive Rivalry

    7. 4.7 Technology Snapshot

      1. 4.7.1 By Solution

        1. 4.7.1.1 Data Analytics

        2. 4.7.1.2 Data Integration

        3. 4.7.1.3 Data Warehousing

        4. 4.7.1.4 Data Visualization

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Deployment

      1. 5.1.1 On-Premises

      2. 5.1.2 Cloud/On-Demand

    2. 5.2 By Organisation Size

      1. 5.2.1 Small & Medium Enterprise

      2. 5.2.2 Large Enterprise

    3. 5.3 By End-User Vertical

      1. 5.3.1 BFSI

      2. 5.3.2 Retail

      3. 5.3.3 Telecommunication & IT

      4. 5.3.4 Media & Entertainment

      5. 5.3.5 Healthcare

      6. 5.3.6 Other End User Industry

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Cisco Systems Inc.

      2. 6.1.2 Oracle Corporation

      3. 6.1.3 Microsoft Corporation

      4. 6.1.4 International Business Machines Corporation

      5. 6.1.5 Accenture PLC

      6. 6.1.6 Mu Sigma Business Solutions Pvt. Ltd.

      7. 6.1.7 Manthan Software Services Private Limited

      8. 6.1.8 Absolutdata Research & Analytics Solutions Pvt. Ltd.

      9. 6.1.9 LatentView Analytics Pvt. Ltd.

      10. 6.1.10 Course5 Intelligence Pvt. Ltd.

      11. 6.1.11 Fractal Analytics Inc.

    2. *List Not Exhaustive
  7. 7. INVESTMENT ANALYSIS

  8. 8. MARKET OPPORTUNITIES AND FUTURE TRENDS

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