Indian analytics industry to touch $16B by 2025: NASSCOM
According to NASSCOM, the Indian analytics industry is expected to touch $16 billion by 2025 from the current $2 billion, a senior NASSCOM official said today.
Over 600 analytical firms in India, of which approximately 400 are startups, are positioning the country as an emerging hub for analytics solutions for industries across the globe, NASSCOM Vice President K S Viswanathan told reporters on the sidelines of the fourth edition of its 'Big Data and Analytics Summit 2016'.
Growing at eight times the current levels, the analytics industry is expected to reach USD 16 billion from the current level of $2 billion by 2025. Indian analytics market is growing at 26 per cent CAGR. India is today amongst the top ten destinations for analytics and our aspiration is to be amongst the top three in the world by 2025. NASSCOM is partnering with its members to build a multi-pronged approach that encompasses skill development, thought leadership, products and platforms to realise this vision, he said.
He said the rapid rise of analytics is reflected in job creation across verticals and functions with skills from analytics, business and technology. With over 90,000 analytics professionals in India across HR, marketing, risk and security, healthcare, retail and finance verticals, the industry is witnessing the emergence of specialised roles like data architect, data strategist, data visualisation analyst and change manager, among others, he added.
BVR Mohan Reddy, former Chairman of NASSCOM and Founder and Executive Chairman at Cyient, said multiple opportunities are emerging across business verticals like data, infrastructure, software and analytics. The growth trajectory shows that India will soon emerge as big data and analytics hub of the world, he added.
Also read : Nasscom to set up warehouse in Vizag to empower 10,000 startups
Last April, NASSCOM had also said that the IT industry will see 20 percent less recruitment this year, as major players like TCS and Infosys are focussing more on automation, thus hiring lesser number of people. Last June, the IT industry body had predicted that the $143-billion domestic software industry might hire 2.75 lakh in 2016-17, up from about 2.3 lakh during last fiscal.
