- Experts say Big Data sector will grow to $16 billion by 2025
- The sector opens up new opportunity for IT professionals
- India is currently among top 10 big data analytics markets in the world
Earlier, Nasscom had identified six areas of specialisation in the Big Data Analytics domain that are expected drive growth in the sector: business analysts, solution architects, data integrators, data architects, data analysts and data scientists. "With the rising requirement for niche competencies in AI (artificial intelligence) and analytics, the skill/expertise of the IT workforce will spearhead the analytical transformation on critical business processes across the industry," Nasscom said.
According to Nasscom, the analytics export market grew by nearly 20 per cent in FY2017, posting a much higher growth compared to overall IT exports. According to Nasscom, the emergence of big data phenomenon in corresponding technologies is giving rise to new trends in the analytics domain.
The growth in the analytics sector has also boosted job opportunities in the sector. The number of analytics jobs has nearly doubled in the past one year, according to a study by Analytics India Magazine - a platform on analytics, data science and big data - and Edvancer Eduventures - an online analytics training institute. The Analytics & Data Science India Jobs Study 2017 has estimated close to 50,000 positions related to analytics are currently available to be filled in India. This increase in the number of jobs available in analytics is nearly twice that of the previous year and "suggests increased momentum in hiring in analytics and data science in India", says the study.
Aatash Shah, CEO and founder of Edvancer Eduventures, said: "Jobs in analytics & data science have grown by 100 per cent over the last year adding tens of thousands of employment opportunities. However, a large portion of people in IT will need to re-skill themselves in data science to make the most of this employment boom."
(With PTI inputs)