Big Data Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The Report Covers India's Big Data Services Market Trends and is Segmented by Type (Solution, Services), Organization Size (Small & Medium Enterprise, Large Enterprise), and End-User Vertical (BFSI, Retail, Telecommunication & IT, Media & Entertainment, Healthcare). The Market Sizes and Forecasts are Provided in Terms of Value (USD) for all the Above Segments.

India Big Data Technology Market Size

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India Big Data Technology & Service Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Market Size (2024) USD 2.17 Billion
Market Size (2029) USD 3.38 Billion
CAGR (2024 - 2029) 7.66 %
Market Concentration Low

Major Players

India Big Data Technology & Service Market Major Players

*Disclaimer: Major Players sorted in no particular order

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India Big Data Technology Market Analysis

The India Big Data Technology & Service Market size is estimated at USD 2.17 billion in 2024, and is expected to reach USD 3.38 billion by 2029, growing at a CAGR of 7.66% during the forecast period (2024-2029).

 In India, there has been a proliferation in the Big Data and AI ecosystem, with numerous large and small players entering in the past few years. Thus, the country is expected to become one of the world's largest Big Data Analytics markets, with better use cases and significant opportunities for data scientists in the future.

  • The shortage of the right talent and resources for various business processes has led to the adoption of analytics and other digital solutions. These solutions are also witnessing growth in industries such as BFSI, Retail, Telecom, and many more. In the Industry 4.0 era, data analytics would be a key skill for more sustainable manufacturing processes, especially concerning artificial intelligence, machine learning, IoT, and automation.
  • Retailers, for instance, are observed suffering from unstable sales performance, lacking the capability of diagnostic analytics to identify what triggers poor performance or make accurate sales forecasts. At such a moment, the manufacturer lacks the time and budget to grow an in-house data analytics team. Therefore, they turn to analytics outsourcing to gain actionable and data-driven insight.
  • The generation of a huge amount of data has led companies to seek insights such as customer segmentation, understanding the preferences under each segment, staying updated with changes in behavior, and personalization of services. Additionally, due to the rise in internet usage, an enormous amount of structured and unstructured data is available to organizations. Such benefits have led multinational and large companies to analyze their big data for actionable insights.
  • Big data analytics allows the automobile manufacturing sector to collect data from multiple ERP systems to further combine information from several functional units of the supply chain and business members. With the emergence of IoT and M2M communication, the automotive industry is positioning itself toward Industry 4.0 ready. Sensors, barcode readers, RFIDs, and robots are becoming standard on the industry's manufacturing floor.
  • The Indian industries are more aware of consumer behavior patterns and can plan production based on these. A similar potential has been exposed in the automotive sector, with IoT evolutions and electronics components becoming integral to automobiles.
  • Additionally, the region is witnessing an upsurge in investments for enhancing its big data ecosystem. For instance, in January 2022, Fractal Analytics Limited became the second unicorn 2022 with an investment of USD 360 million from TPG Capital Asia, a private equity firm. After Mu Sigma, this is the second firm in India in the pure-play analytics space to get unicorn status. Further, Fractal acquired Neal Analytics, a cloud, data, engineering, and AI Microsoft Gold consulting partner, to help the company strengthen its presence in the Pacific Northwest, Canada, and India.
  • Further, in April 2022, the Defence Ministry of India announced that it would fund startups that can provide solutions to Artificial Intelligence (AI), advanced imaging, sensor systems, big data analytics, autonomous unmanned systems, and secured communication systems, among other technologies.
  • Further, software companies are intensifying their focus on in-demand technologies and exploring innovative ways to serve their clients even as the COVID-19 crisis created challenges across industries. It led to a reduction in technology spending. The adoption of artificial intelligence (AI) and big data was set to grow through the overall IT spending dropped significantly in 2020, with a severe impact on hardware and a slowdown in the software and services business. In the initial stage of the pandemic, the Government of India launched a free app, the Aarogya Setu, or Bridge to Health, to harvest mobile phone records, artificial intelligence, and big data to help identify individuals potentially exposed to COVID-19.

India Big Data Technology Market Trends

The BFSI Segment is Expected to Drive the Market's Growth

  • Banks have extensive information about the earnings and expenses of their customers. This information relates to their payments and the money that entered their accounts over a specific time frame. A financial institution can analyze this data to determine whether a client's salary has increased or decreased, which sources of revenue have been more consistent, how much money was spent, and which channels the client utilized to conduct certain transactions. By analyzing the data, banks can assess risks, decide whether to extend loans, and determine whether a client is more interested in receiving benefits or making investments.
  • According to the Indian Brand Equity Foundation (IBEF), 44 foreign banks, 12 public banks, and 22 private banks have banking licenses in India. Moreover, there are over 96,000 rural cooperative banks. Furthermore, developing an extensive risk management system is crucial for financial firms. They will experience a significant loss of revenue if they don't practice thorough risk management. To survive in the competitive world and maximize earnings, businesses must continuously innovate new ideas. Big data analysis aids businesses in detecting dangers instantly and, of course, safeguards customers from potential fraud.
  • According to the Ministry of Electronics and IT (MeitY), In India, digital payments rose 45% yearly (YoY) during the fiscal year (FY) 2022-2023. This period saw INR 13,462 crore(USD 1621.7million) digital payment transactions in (FY) 2022-23, and INR 11,660 crore (USD 1404.51 million) in till december 2023 for FY 2023-2024. Such huge digital transactions will drive the demand for big data services.
  • In June 2022, Delhi State-run banks were expected to have specialized analytics teams to combat frauds, identify stressed customers who might stop making payments, and assist the lenders in staying ahead of the competition through data analysis. The finance ministry requested that all banks select important internal and external resources to join the new vertical. This would give them insights to enhance efficiency while closely monitoring scams and accumulating bad loans.
India Big Data Technology & Service Market: Total Value of Digital Payments, in INR Billion, India, 2018 - 2023

The Telecommunication and IT Sector is Expected to Hold a Major Market Share

  • The growth of Big Data technologies could also be attributed to emerging technologies, like Blockchain, IoT, AI, and cloud computing. These technologies have provided the push for the necessary big data services in India.
  • There has been an increase in the number of big data service providers in the country recently. Lymbyc, G Square, TechVantage, BluePiConsulting, and SIBIA Analytics are a few firms that have come up in recent years. Furthermore, the increase in the number of players was also attributed to the government's data localization policy.
  • India is currently among the world's major big data analytics markets, and NASSCOM has set the target of making the country one of the top three. NASSCOM has predicted that the Indian analytics industry is expected to reach USD 16 billion by 2025. This means that it may account for 32% of the analytics market worldwide. This scenario reflects tremendous opportunities for the scope of big data analytics in India. India is witnessing high growth in the big data analytics industry due to its large resource pool of technically skilled, English-speaking population.
  • In 2022, according to Nokia's India Mobile Broadband Index 2023 report, the average monthly data consumption per user was 19.5 gigabytes, which was 17 gigabytes in 2021 and 13.5 gigabytes in 2020. The unprecedented growth of data consumption created the need for data centers to store and maintain this vast resource. The data usage increased further due to work from home, online education, and recreation in the backdrop of the COVID-19-led nationwide lockdown.
  • Further, the telecom industry in the country is witnessing robust growth due to the entry of several players. For instance, in July 2022, Billionaire Gautam Adani's group confirmed its entry into the race to acquire telecom spectrum, which it said would be used to create a private network to support its businesses from airports to power and data centers.
India Big Data Technology & Service Market: Number of Wireless Telecommunication Subscribers, in Millions, by Service Provider, India, as of October 2022

India Big Data Technology Industry Overview

The competitive landscape of India's Big Data Technology and Services market remains highly competitive and 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, a number of startups and mid-sized companies specialize in catering to the Big Data needs of the world across various End-User verticals. Some of the recent developments are as follows:-

In October 2022. Capgemini announced its collaboration with Microsoft to deliver a first-of-its-kind, cloud-native, serverless Azure-based digital twin platform called ReflectIOD. The platform was to leverage the Azure suite's enhanced architecture and technological components to help transform an organization's operations and maintenance efficiency, enabling intelligent industry and driving sustainable business value.

In January 2024, AI big data analytics and drug discovery platform is launched by GenepoweRx. The diagnostic division of Uppaluri K&H Personalized Medicine Clinic, GenepoweRx, has introduced GeneConnectRx, an inventive artifical intelligence (AI) platform. Healthcare professionals will now be able to tailor therapies based on each patient's unique genetic composition due to this groundbreaking advancement in personalized medicine.

India Big Data Technology Market Leaders

  1. Mu Sigma Business Solutions Pvt. Ltd.

  2. Fractal Analytics Inc.

  3. IBM corporation

  4. Sigma Data Systems

  5. Capgemini SE

*Disclaimer: Major Players sorted in no particular order

Market Concentration- India Big Data Technology And Service Market.jpg
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India Big Data Technology Market News

  • May 2023: with the introduction of its DIgital Content Ratings Solutions (DCR), Nielsen, a solution in audience measurement, data and analytics has once again shown its dedication to impartial, digital audience content measuremnt in India. Nielsen's Identity System, which will leverage the same big data as the market's Digital Ad Ratings, is intended to fuel DCR in India.
  • November 2022: Wipro Ltd. partnered with a US-based cloud computing service provider, VMware. The partnership was to see Wipro offer VMware's cloud computing and remote work platform, allowing enterprises to offer security standards and other services to a distributed workforce.
  • September 2022: Sigma Computing announced its partnership with Snowflake, the Data Cloud company, to launch a seamless integration experience for joint customers on the Snowflake Healthcare & Life Sciences Data Cloud. The Snowflake Healthcare & Life Sciences Data Cloud offered healthcare companies a single, integrated, and cross-cloud data platform that eliminated technical and institutional data silos to centralize securely, integrate, and exchange critical and sensitive data at scale.

India Big Data Technology Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

  5. 5. MARKET INSIGHT

    1. 5.1 Market Overview

    2. 5.2 Industry Value Chain Analysis

    3. 5.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 5.3.1 Bargaining Power of Suppliers

      2. 5.3.2 Bargaining Power of Buyers

      3. 5.3.3 Threat of New Entrants

      4. 5.3.4 Threat of Substitutes

      5. 5.3.5 Intensity of Competitive Rivalry

    4. 5.4 Impact of COVID-19 on the Industry Ecosystem

  6. 6. MARKET DYNAMICS

    1. 6.1 Market Drivers

      1. 6.1.1 Reduction in Cost of Implementation will act as a Driver

      2. 6.1.2 Increasing Number of Connected Devices

    2. 6.2 Market Restraints

      1. 6.2.1 Structural Barriers and Decentralized Systems act as a Restraint

      2. 6.2.2 Lack of Skilled Professionals

  7. 7. MARKET SEGMENTATION

    1. 7.1 Type

      1. 7.1.1 Solution

      2. 7.1.2 Services (Managed)

    2. 7.2 Organisation Size

      1. 7.2.1 Small & Medium Enterprise

      2. 7.2.2 Large Enterprise

    3. 7.3 End-User Vertical

      1. 7.3.1 BFSI

      2. 7.3.2 Retail

      3. 7.3.3 Telecommunication and IT

      4. 7.3.4 Media and Entertainment

      5. 7.3.5 Healthcare

      6. 7.3.6 Other End-User Industry

  8. 8. COMPETITIVE LANDSCAPE

    1. 8.1 Company Profiles *

      1. 8.1.1 Mu Sigma Business Solutions Pvt. Ltd.

      2. 8.1.2 IBM Corporation

      3. 8.1.3 Sigma Data Systems

      4. 8.1.4 Capgemini SE

      5. 8.1.5 Fractal Analytics Limited

      6. 8.1.6 SAS Institute Inc.

      7. 8.1.7 WNS (Holdings) Ltd.

      8. 8.1.8 Wipro Ltd.

      9. 8.1.9 TIBCO Software Inc.

      10. 8.1.10 Infosys Ltd.

  9. 9. INVESTMENT ANALYSIS

  10. 10. MARKET OPPORTUNITIES AND FUTURE TRENDS

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India Big Data Technology Industry Segmentation

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 modeling to examine a large amount of unstructured data and equip businesses with solutions that help them stay ahead of the curve.

The India Big Data Technology and Service Market is segmented by Type (Solution, Services), Organization Size (Small & Medium Enterprise, Large Enterprise), and End-User Vertical (BFSI, Retail, Telecommunication & IT, Media & Entertainment, Healthcare).

The market sizes and forecasts are provided in terms of value (USD) for all the above segments.

Type
Solution
Services (Managed)
Organisation Size
Small & Medium Enterprise
Large Enterprise
End-User Vertical
BFSI
Retail
Telecommunication and IT
Media and Entertainment
Healthcare
Other End-User Industry
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India Big Data Technology Market Research FAQs

The India Big Data Technology & Service Market size is expected to reach USD 2.17 billion in 2024 and grow at a CAGR of 7.66% to reach USD 3.38 billion by 2029.

In 2024, the India Big Data Technology & Service Market size is expected to reach USD 2.17 billion.

Mu Sigma Business Solutions Pvt. Ltd., Fractal Analytics Inc., IBM corporation, Sigma Data Systems and Capgemini SE are the major companies operating in the India Big Data Technology & Service Market.

In 2023, the India Big Data Technology & Service Market size was estimated at USD 2.00 billion. The report covers the India Big Data Technology & Service Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Big Data Technology & Service Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

India Big Data Industry Report

Statistics for the 2024 India Big Data market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Big Data analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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Big Data Industry in India Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)