Here are 10 highlights from Analytics India Industry Study 2017:
1) The analytics/data science/Big Data industry in the country is currently estimated to be $2.03 billion annually in revenues. "The increased adoption of Big Data by SMEs is a strong indicator of sustainable growth for the industry," Mr Bansal of AnalytixLabs said.
2) The industry is expected to almost double by 2020 with a sizable portion of around 24 per cent being attributed to Big Data. Of all the annual flow, 12 per cent can be attributed to advanced analytics, predictive modelling and data science.
3) Almost 60 per cent of analytics revenue in India comes from exports to the US. Among other countries are the UK (8.4 per cent), Australia and Canada. Revenues generated from Indian firms amount to 4 per cent of total analytics revenues.
4) In terms of sectors contributing to analytics revenue, finance and banking continue to be the largest. This contribution stands at 37 per cent of the total amounting to $756 million in revenues - a 31 per cent increase compared to last year.
8) Almost 40 per cent of analytics professionals in India are employed with large-sized companies, with more than 10,000 of total employee base.
9) Midsize organisations employ 33 per cent of all analytics professionals in India.
10) Start-ups employ 27 per cent of analytics professionals.
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