Introduction

Outsourcing Statistics: Outsourcing has become a key strategy for many businesses, helping them save costs and improve efficiency. In 2023, the global outsourcing market was valued at around $92.5 billion, and it’s expected to grow at a rate of 8.7% annually. Most outsourcing focuses on IT services, customer support, and business processes, with countries like India and the Philippines leading the way.

This growing trend shows how companies are increasingly turning to external partners for specialized skills, scalability, and flexibility. Outsourcing is playing a crucial role in helping businesses stay competitive and run smoothly in today’s fast-paced world.

This statistic shows the global market size of outsourced services from 2000 to 2019. In 2019, the global outsourcing market amounted to **** billion U.S. dollars. The global outsourcing market - additional information The revenue of the global outsourced services industry has been unsteady over the last few years. In 2016, the industry market size dropped to **** billion U.S. dollars, the lowest figure seen in a decade. The largest share of revenue for this industry came from the Americas, followed by Europe, the Middle East and Africa. A much smaller share of global revenue came from the Asia Pacific region. Outsourcing involves the contracting out of business processes to third parties, usually in order for the business to avoid certain costs, such as taxes. In 2019, business process outsourcing contributed a much smaller proportion of the industry’s global revenue than information technology outsourcing, generating ** billion and **** billion U.S. dollars respectively. Other outsourcing segments within the global industry include business services, energy, healthcare and pharmaceuticals, retail, travel and transport, and telecom and media. In 2016, the leading driver for using outsourcing services, according to business executives, was to cut costs. Other drivers included, enabling focus on core business and solving capacity issues.

Introduction

Business Process Outsourcing Statistics and Facts: Business Process Outsourcing (BPO) involves outsourcing specific business tasks to external service providers, allowing companies to attention on their core capabilities. By relying on specialized expertise, organizations can efficiently manage non-core areas like customer service, HR, IT support, and finance. Over the years, the BPO industry has grown significantly, driven by factors such as cost savings, technological progress, and the need for increased operational efficiency.

The integration of automation and artificial intelligence continues to transform the BPO landscape, offering scalable solutions to industries including healthcare, finance, retail, and manufacturing. As businesses increasingly prioritize flexibility and streamlined operations, the BPO sector is expected to remain a key player in global economic growth, providing valuable insights into evolving outsourcing trends.

The Data Analytics Outsourcing Market Report is Segmented by Analytics Type (Descriptive, Diagnostic, and More), End-User Industry (Retail and E-Commerce, BFSI, and More), Service Model (Offshore, Nearshore, and On-shore/On-site), Organization Size (Large Enterprises and SMEs), Deployment Model (Cloud-Only and Hybrid Cloud), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

The Americas had the largest outsourcing market in 2019, with ** billion U.S. dollars of revenue created by contracts valued at over ** million U.S. dollars. This was a significant increase from two years ago and meant that for the second time North America was a larger market than Europe, the Middle East and Africa (EMEA). Types of outsourcing Outsourcing can involve contained segments of an organization, such as customer care or specific business functions which cut across all segments like Information Technology (IT) and Human Resources (HR). While the industry may limit which organizations can benefit from the former type of outsourcing, the common nature of processes like IT and HR mean all industries can potentially outsource, creating a massive global industry. For example, while healthcare is expected to increase IT outsourcing the least of all industries, IT outsourcing in this industry alone is still expected to be worth over ** billion U.S. dollars globally. Industry growth Considering only contracts above ** million U.S. dollars, total contract value in the outsourcing market has declined in recent years from a 2014 peak of ***** million U.S. dollars. This decline is reflected in the intention of companies to expand their use of offshoring. Analysts point to several reasons for this trend. First, the increasing ability to automate business processes has overtaken the cost advantages of outsourcing in some cases. Second, there is greater quality control over in-house operations and increased flexibility in the deployment of these type of operations. Finally, social and political pressure has led to some companies preferring to keep jobs close to home, rather than utilize cheaper labor overseas.

Introduction

Engineering Services Outsourcing Statistics: Engineering services outsourcing (ESO) involves delegating engineering tasks to external providers. Offering benefits such as cost savings, access to specialized skills, and enhanced flexibility.

ESO encompasses various mechanical and electrical engineering disciplines, with engagement models ranging from project-based to full-service outsourcing.

Companies can use a global delivery model and technological infrastructure to ensure effective communication and collaboration across distributed teams.

Quality assurance measures and risk management strategies are vital to maintain standards and mitigate inherent risks.

Overall, ESO enables companies to focus on core competencies, and accelerate time-to-market. Which expand their global reach through strategic partnerships and efficient resource utilization.

This statistic depicts the share of transactions in the global outsourcing market from the third quarter of 2018 to the fourth quarter of 2020, by type. In the fourth quarter of 2021, 54 percent of the transactions that took place in the outsourcing market were digital-focused.

The statistic shows the revenue generated in the outsourcing industry by service type from 2010 to 2019. In 2019, ** billion U.S. dollars was generated through business process outsourcing (BPO). Global outsourcing industry - additional information Outsourcing is the contracting out of processes to external parties. Business process outsourcing (BPO), which generated ** billion U.S. dollars worldwide in 2019, involves transferring business processes to service providers outside of an organization. This process often requires offshoring. In 2019, India was the best country for offshoring when its financial attractiveness, the skills and availability of its people and its business environment are considered together. Information technology outsourcing (ITO) is closely related to business process outsourcing as many business processes are technology based. In 2019, global ITO revenue was **** billion U.S. dollars. The global revenue of business process outsourcing and information technology outsourcing amounted to around **** billion U.S. dollars in 2019, of which more than half was generated in the Americas. Southern Europe was the region with the largest share of businesses practicing, or planning to practice, business process outsourcing. Latin America and South Africa also had high proportions. Business process outsourcing includes delegating back-office or internal functions, like HR and accounting, and front-office or customer-related functions, such as those that would be passed on to call centers. In 2016, most companies used outsourcing services as a cost cutting tool while communication was a main driver of a successful outsourcing experience among mid-market business leaders worldwide.

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Data Entry Outsourcing Services Market Size 2025-2029

The data entry outsourcing services market size is forecast to increase by USD 206.8 million, at a CAGR of 6% between 2024 and 2029.

Major Market Trends & Insights

APAC dominated the market and accounted for a 40% growth during the forecast period.
By the Type - E-commerce products segment was valued at USD 152.00 million in 2023
By the End-user - BFSI segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 73.92 million
Market Future Opportunities: USD 206.80 million 
CAGR : 6%
APAC: Largest market in 2023

Market Summary

The market continues to expand, driven by the increasing need for cost-effective solutions to manage growing data volumes and complexity. According to recent studies, the global data entry outsourcing market is projected to reach a value of USD27.6 billion by 2025, growing at a steady pace. This growth can be attributed to the ongoing automation of data entry processes and the adoption of cloud-based solutions, which enable businesses to outsource data entry tasks more efficiently. This trend is observed across various sectors, including finance, healthcare, retail, and IT, as businesses seek to streamline their operations and reduce operational costs.
Despite this growth, challenges such as data security concerns and the need for high data accuracy persist, making it essential for businesses to partner with reputable and experienced data entry service providers.

What will be the Size of the Data Entry Outsourcing Services Market during the forecast period?

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Data entry outsourcing services have become an integral part of business operations, enabling companies to focus on core competencies without compromising data accuracy. According to recent reports, the market for these services currently accounts for over 15% of the global business process outsourcing industry. Looking ahead, growth is anticipated to exceed 10% annually, driven by the increasing demand for cost savings and efficiency gains. A comparison of key performance indicators highlights the significant impact of data entry outsourcing. For instance, companies can achieve up to 99% data entry accuracy, reducing errors and minimizing rework. Furthermore, turnaround times can be cut in half, ensuring swift project completion.
By outsourcing, businesses can also access a flexible workforce, allowing them to scale operations as needed. These improvements translate into substantial cost savings, with some estimates suggesting an average annual savings of 30% or more. This financial advantage, combined with the benefits of enhanced data security and improved quality, makes data entry outsourcing an indispensable solution for businesses seeking to optimize their operations.

How is this Data Entry Outsourcing Services Industry segmented?

The data entry outsourcing services industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  E-commerce products
  Invoices
  Customer orders
  Forms and documents
  Others


End-user

  BFSI
  IT and telecom
  Manufacturing
  Healthcare
  Others


Application

  Large enterprises
  Small and medium-sized enterprises


Customer Type

  Long-term contracts
  Short-term contracts


Geography

  North America

    US
    Mexico


  Europe

    France
    Germany
    UK


  APAC

    China
    India
    Japan
    South Korea


  South America

    Brazil


  Rest of World (ROW)

By Type Insights

The e-commerce products segment is estimated to witness significant growth during the forecast period.

Data entry outsourcing services have gained substantial traction in various industries due to the increasing volume and complexity of data. According to recent estimates, the market for data entry services is projected to expand by 15.3% over the next five years, with the business process outsourcing (BPO) sector accounting for a significant share. One of the primary drivers of this growth is the adoption of advanced technologies, such as keystroke monitoring systems and workflow automation tools, which streamline data entry processes and enhance productivity. Furthermore, project management methodologies, data governance frameworks, and risk mitigation plans ensure data accuracy and security, making outsourced data entry services an attractive option for businesses.

Compliance regulations, such as the General Data Protection Regulation (GDPR) and the Health Insurance Portability and Accountability Act (HIPAA), have also fueled the demand for data entry services.

Outsourcing software development is no longer a niche strategy; it fuels $213 billion in U.S. revenue and plays a central role in global tech delivery. In healthcare, startups accelerate mobile app releases by tapping global talent. In financial services, banks reduce platform development costs through offshore teams. Dive into this...

Data Entry Outsourcing Service Market was valued at USD 1651.28 Million in 2023 and is projected to reach USD 2515.82 Million by 2030, growing at a CAGR of 6.3% during the forecast period 2024-2030.

Global Data Entry Outsourcing Service Market Drivers

The market drivers for the Data Entry Outsourcing Service Market can be influenced by various factors. These may include:

Cost-Effectiveness: Hiring outside service providers to handle data entry work can drastically save operating expenses. This includes cost reductions on infrastructure, perks, and salaries—all of which are especially advantageous for small and medium-sized businesses. Concentrate on Core Competencies: Businesses can increase overall efficiency and productivity by outsourcing data entry services and concentrating more on their core competencies, which include strategic planning, product development, and customer service. Access to Skilled Workforce: Data entry jobs are the area in which outsourcing offers access to a knowledgeable and experienced workforce. When compared to doing these jobs internally, this can result in higher accuracy and faster turnaround times. Technological Advancements: By increasing efficiency and lowering the risk of error, the incorporation of cutting-edge technology like automation, artificial intelligence, and machine learning in data entry procedures makes outsourcing more alluring. Scalability: Depending on the demands of the business, outsourcing provides the freedom to scale up or down operations. For organizations with varying workloads or seasonal demands, this is especially helpful. Data Security and Compliance: Reputable outsourcing companies guarantee the confidentiality and integrity of sensitive data by adhering to international data protection rules and implementing strong security measures. Globalization and Business Expansion: Effective data management becomes more and more important as firms grow internationally. Businesses can effectively handle massive volumes of data from multiple locations by outsourcing data entry services. Increased Turnaround Time: Since outsourcing companies frequently work in different time zones, continuous workflow and speedier data entering task processing are possible, which can increase overall business efficiency.

Data-entry Outsourcing Services Market Outlook

The global data-entry outsourcing services market size was valued at approximately USD 15.2 billion in 2023 and is forecasted to reach USD 26.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period. This growth is propelled by the increasing demand for cost-effective data management solutions and the need for enhanced focus on core business activities.

The significant growth driver for this market is the rising adoption of digital transformation initiatives across various industries. As businesses endeavor to become more agile and competitive, they are increasingly seeking outsourced data-entry services to streamline their operations. By outsourcing data-entry tasks, organizations can allocate more resources to strategic functions, thereby enhancing overall productivity and efficiency. This trend is particularly noticeable in sectors such as BFSI and healthcare, where large volumes of data need to be processed accurately and promptly.

Technological advancements are another key growth factor for the data-entry outsourcing services market. The integration of Artificial Intelligence (AI) and Machine Learning (ML) in data-entry processes has significantly reduced error rates and improved data accuracy. These technologies enable automated data capture and processing, thereby minimizing manual intervention and associated errors. As AI and ML continue to evolve, their adoption in data-entry processes is expected to rise, further boosting the market growth.

Moreover, the growing emphasis on data security and regulatory compliance is driving the demand for professional data-entry outsourcing services. With stringent data protection regulations such as GDPR and CCPA in place, businesses are compelled to ensure that their data management processes comply with these standards. Outsourcing data-entry tasks to specialized service providers can help organizations mitigate the risks associated with data breaches and non-compliance, thereby safeguarding their reputation and avoiding hefty penalties.

From a regional perspective, Asia Pacific is expected to dominate the data-entry outsourcing services market, followed by North America and Europe. The region's dominance can be attributed to the presence of a large number of outsourcing service providers, coupled with the availability of a skilled workforce at competitive costs. Additionally, the rapid economic growth in countries such as India and China is driving the demand for data-entry services in the region. North America and Europe, on the other hand, are witnessing steady growth due to the increasing adoption of digital transformation initiatives and the need for cost-effective data management solutions.

Service Type Analysis

The service type segment in the data-entry outsourcing services market encompasses various sub-segments, including online data entry, offline data entry, data processing, data conversion, data capture, and others. Each sub-segment serves a distinct purpose, catering to the diverse needs of businesses across different industries.

Online data entry services involve the entry and management of data directly into an online database or system. This sub-segment is gaining popularity due to the increasing use of cloud-based solutions and the need for real-time data access and management. Online data entry services offer the advantage of seamless integration with other business systems, enabling organizations to efficiently manage their data and improve decision-making processes.

Offline data entry services, on the other hand, involve the entry of data into offline systems or databases. Despite the growing adoption of online solutions, offline data entry services continue to hold significant importance, particularly in regions with limited internet connectivity or in industries where data privacy is paramount. These services ensure that organizations can maintain accurate and up-to-date records, even in the absence of an online infrastructure.

Data processing services encompass a wide range of activities, including data cleaning, data validation, data enrichment, and data analysis. These services are crucial for organizations to ensure the accuracy and consistency of their data, which is essential for informed decision-making. The increasing volume of data generated by businesses is driving the demand for data processing services, as organizations seek to derive valuable insights from their data.

This statistic depicts the top reasons why companies worldwide outsource information technology (IT) services in 2018. During the survey, ** percent of respondents stated they currently outsource IT services as it frees up resources to focus on their company's core business.

Number of Businesses statistics on the Business Process Outsourcing industry in Australia

Abstract

Many small firms lack the finance and marketing skills needed for growth. A standard approach is to train the entrepreneur in these skills. However, rather than requiring entrepreneurs to learn everything, an alternative is to move beyond the boundary of the entrepreneur and link firms to these skills in a marketplace through insourcing workers, or outsourcing tasks to professionals. We conducted a randomized experiment in Nigeria to test the relative effectiveness of these different approaches to improving business practices. Insourcing and outsourcing both dominate business training; and do at least as well as business consulting at one-half of the cost. Replication data for this project are provided.

Geographic coverage

Firms in Abuja and Lagos

Analysis unit

Firm

Universe

Firms that applied and were selected for the government Growth and Employment (GEM) program

Kind of data

Sample survey data [ssd]

Sampling procedure

Firms applied to the Growth and Employment (GEM) Program. To qualify for the programs in our experiment, firms needed to pass a second screening step demonstrating they: (i) were not already insourcing or outsourcing both their marketing function and finance function; (ii) had between 2 and 15 workers; and (iii) received a score of 5.0 to 8.0 (out of 10) in terms of their baseline business practices5. This resulted in an experimental sample of 753 firms.

Mode of data collection

Computer Assisted Personal Interview [capi]

Research instrument

The following questionnaires were used for data collection and they are provided as supporting documentation: - BaselineQuestionnaire.pdf - the baseline training manual and questionnaire - Codebook_Baseline_Survey.xls - a codebook for the baseline questionnaire - GEM First Follow-Up Survey.pdf - the first follow-up survey - GEM Follow-p Survey_Round2.pdf - the second follow-up survey - GEM consultant and trainer questionnaire.pdf - questionnaire on background of Trainers and Consultants - SocialMediaScoring.xlsx - scoring questions for the 50 measures of social media quality - GEMServiceProviderSurvey.xls - questionnaire given to business service providers * InformationExperimentBaselineSurvey.pdf - baseline for the information experiment * InformationExperimentFollowupSurvey.pdf - follow-up survey for the information experiment

Response rate

The first follow-up survey had a response rate of 88.6%, and the second follow-up survey had a response rate of 86.1%. 93% of firms completed at least one of the follow-up surveys

Payroll Outsourcing Market Report Segmented by Service Type (Hybrid, Fully Outsourced), Deployment Model (Cloud-Based, On-premises/Hosted), Enterprise Size (Large Enterprises, Smes), End-User Vertical (BFSI, IT & Telecom and More), Payroll Component (Core Pay-Run, Time & Attendance and More), and Geography. The Market Forecasts are Provided in Terms of Value (USD).

Data Annotation Outsourcing Market Outlook

The global data annotation outsourcing market size was valued at approximately USD 2.5 billion in 2023 and is projected to reach an estimated USD 10.3 billion by 2032, growing at an impressive CAGR of 17.1% during the forecast period. This significant growth is driven by the increasing adoption of artificial intelligence (AI) and machine learning (ML) technologies across various industries, which require large volumes of accurately labeled data to train sophisticated algorithms.

One of the primary growth factors of the data annotation outsourcing market is the exponentially increasing demand for annotated data to develop and enhance AI and ML models. The surge in AI-driven applications in diverse sectors such as healthcare, autonomous vehicles, and BFSI necessitates extensive data labeling efforts. Outsourcing data annotation to specialized firms allows companies to focus on core activities while ensuring high-quality data labeling, thereby accelerating AI model development and deployment. Another key factor is the rising complexity and variety of data that needs annotation. From text to images, videos, and audio, the wide range of data formats requires different annotation techniques and expertise, which specialized outsourcing firms are well-equipped to handle.

Additionally, the cost-effectiveness of outsourcing data annotation services is a significant driver for market growth. Maintaining an in-house data annotation team can be expensive due to the need for specialized skills, software, and infrastructure. Outsourcing helps organizations reduce these overhead costs while gaining access to a skilled workforce capable of providing high-quality annotations. The ease of scalability offered by outsourcing is another appealing factor. As projects expand and the volume of data increases, outsourcing partners can quickly ramp up operations to meet the increased demand without the client needing to invest in additional resources.

Moreover, the increased focus on data privacy and security has led to the emergence of data annotation outsourcing firms that comply with international data protection regulations, such as GDPR and CCPA. This ensures that organizations can leverage outsourced data annotation services without compromising on data security. The need for high-quality annotated data for developing advanced AI models, coupled with the benefits of cost reduction, scalability, and regulatory compliance, is set to propel the market forward in the coming years.

In the realm of Image Tagging and Annotation Services, the demand has surged due to the proliferation of AI applications that require precise image labeling. These services are crucial for training AI models in tasks such as object detection and facial recognition. By outsourcing image tagging and annotation, companies can ensure that their data is accurately labeled by experts who understand the nuances of image data. This not only enhances the performance of AI models but also accelerates the development process by allowing companies to focus on their core competencies. The healthcare sector, in particular, benefits from these services as they are essential for analyzing medical images and improving diagnostic accuracy.

Regionally, North America holds a dominant position in the data annotation outsourcing market, driven by the high adoption rate of AI and ML technologies in the United States and Canada. The presence of major tech companies and a robust ecosystem for AI development also contribute to the region's leadership. Europe follows closely, with significant investments in AI research and development, particularly in countries like Germany, the UK, and France. The Asia Pacific region is expected to witness the fastest growth, fueled by rapid technological advancements and increasing AI adoption in countries like China, India, and Japan. Latin America and the Middle East & Africa are also experiencing gradual growth, supported by emerging AI initiatives and government support.

Annotation Type Analysis

The data annotation outsourcing market is segmented based on annotation type into text, image, video, and audio. Each annotation type requires specific techniques and expertise, making it essential for outsourcing partners to offer comprehensive services across these categories. Text annotation is one of the most fundamental types, involving the labeling of textual content to facilitate natural language processing (

Snapshot img

Data Analytics Outsourcing Market Size 2025-2029

The data analytics outsourcing market size is forecast to increase by USD 52.86 billion at a CAGR of 38.1% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing need for businesses to reduce operational costs and effectively manage the rising volume of digital data production. This trend is fueled by the increasing importance of data-driven decision making and the high costs associated with maintaining in-house data analytics capabilities. Anomaly detection, predictive modeling, and sentiment analysis are key applications of AI-powered analytics, providing valuable insights for businesses. However, the market is not without challenges. Data safety and security remain major concerns, as businesses outsource their data analytics to third parties. The potential risks of data breaches and unauthorized access can result in significant financial and reputational damage.
Additionally, ensuring data privacy and complying with various data protection regulations can add complexity to the outsourcing relationship. Navigating these challenges requires a strategic approach and a strong commitment to data security. Companies seeking to capitalize on the opportunities in the market must carefully weigh the benefits against these challenges and implement effective risk management strategies. Companies must carefully evaluate potential outsourcing partners and implement robust security measures to mitigate these risks.

What will be the Size of the Data Analytics Outsourcing Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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The market is witnessing significant advancements, driven by the increasing adoption of advanced analytics techniques and technologies. Data lakes, a large storage repository that holds a vast amount of raw data, are becoming increasingly popular for their ability to support various analytics techniques such as Naive Bayes and neural networks. Data quality monitoring is crucial in ensuring the accuracy and reliability of analytics results. Agile methodologies and real-time analytics are transforming the way businesses approach data analysis, enabling faster decision-making. Time series analysis and regression analysis are essential tools for predicting trends and identifying correlations in data.
Hybrid cloud and serverless computing are gaining traction, offering flexibility and cost savings for data analytics workloads. Data lineage and metadata management are essential for maintaining data integrity and traceability. Performance dashboards and custom dashboards are critical for monitoring key performance indicators and gaining actionable insights. API integrations and interactive visualizations enable seamless data access and analysis. Clustering algorithms and decision trees are essential for segmenting data and identifying patterns.

How is this Data Analytics Outsourcing Industry segmented?

The data analytics outsourcing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Predictive
  Descriptive
  Prescriptive


End-user

  BFSI
  Healthcare
  Retail
  IT and telecom
  Others


Deployment

  Cloud-based
  On-premises
  Hybrid


Business Segment

  Large enterprises
  SMEs


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Ireland
    UK


  APAC

    Australia
    China
    India
    Philippines


  Rest of World (ROW)

By Type Insights

The predictive segment is estimated to witness significant growth during the forecast period. Predictive analytics, a segment of data analytics outsourcing, leverages data analysis techniques, machine learning models, AI, and statistical analysis to forecast future outcomes. For instance, a hotel chain uses predictive analytics to anticipate the number of guests at a specific location on weekends, enabling appropriate staffing and resource allocation. Outsourcing this function to a reliable partner offers access to skilled professionals managing and executing the analytics process efficiently, delivering valuable insights in a timely manner. The adoption of advanced technologies like AI and ML, along with the growing need to assess business risks and opportunities, is projected to fuel the expansion of the predictive analytics segment in the market.

Businesses also prioritize change management and company management in their outsourcing decisions. Nearshore and onshore outsourcing models offer proximity and cultural compatibility, while offshore outsourcing provides cost savings. Cloud computing services ensure data sec

Data Analytics Outsourcing Market size was valued at USD 10.2 Billion in 2024 and is projected to reach USD 55.44 Billion by 2032, growing at a CAGR of 26% from 2026 to 2032. Global Data Analytics Outsourcing Market DriversGrowing Volume of Big Data: The increasing volume of big data is leading firms to outsource analytics. According to IDC, the global datasphere is expected to increase from 33 zettabytes in 2018 to 175 zettabytes by 2025. This tremendous rise in data volume has compelled firms to seek external expertise for efficient data management and analytics.Cost-Effectiveness of Outsourcing: Outsourcing data analytics can be more cost-effective than having an in-house team. According to a Deloitte poll, 59% of organizations outsource primarily to save money. According to the same poll, 47% of organizations saved between 10 and 25% of their costs through outsourcing.Shortage of Skilled Data Professionals: Due to a shortage of experienced data analytics workers, organizations are increasingly outsourcing. The U.S. Bureau of Labor Statistics predicts that employment of data scientists and mathematical scientific occupations will expand 31% between 2019 and 2029, substantially faster than the national average, indicating a significant skills gap.

This statistic shows the total contract value (TCV) of the outsourcing market in the Americas from 2000 to 2019. In 2019, the size of the outsourcing market in the Americas amounted to ** billion U.S. dollars. In 2019, the global traditional outsourcing industry generated **** billion U.S. dollars in revenue.