The Analytics/Data science/Big Data industry in India is estimated to be at $2.03 Billion annually in revenues and is growing at 23.8% CAGR according to a study carried out by Analytics India Magazine and AnalytixLabs.
According to the study, the industry in India is expected to almost double by 2020, with a sizable portion of around 24% being attributed to Big Data. It also suggests that of all the annual flow, 12% can be attributed to advanced analytics, predictive modelling and data science.
An interesting insight by the study reveals that almost 60% of analytics revenue in India comes from analytics exports to the USA. Others that share a part are UK with 8.4% of revenues followed by Australia and Canada. As for the revenues generated from Indian firms, it amounts to 4% of total analytics revenues.
In terms of sectors contributing to analytics revenue, finance and banking continues to be the largest contributor standing at 37% of the total amounting to $756 Million in revenues. This is a 31% increase compared to last year. Others that follow are marketing and advertising, e-commerce, pharma and healthcare.
The study suggests Delhi/NCR to be the biggest contributor amongst other Indian cities, with $565 Million revenue coming from the capital city. It is 28% of the total market size. This is followed by Bengaluru at 27%.
While listing the analytics professionals in India, the study found that around 12,000 freshers were added to the analytics workforce in India this year, which is up from 8,500 freshers last year. The universities and schools that these analytics professionals were seen graduating from were University of Mumbai, Delhi University, Kendriya Vidyalaya and Indian School of Business among others.
Almost 40% of analytics professionals in India are employed with large-sized companies having more than 10,000 of total employee base. Midsize organizations employ 33% of all analytics professionals in India, while startups employ 27% of analytics professionals.
Access the complete study here: