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Analytics Industry Trends In India-Data Science, AI & Machine Learning
Since the past few years both the Big Data and Analytics industries have emerged out becoming the major disruptions brining revolutionary changes across IT, Corporate & Business sectors. The revolutionary Analytics technologies like Data Science, AI & Machine Learning have become a major necessity for the IT & Business industry.
The rise in demand for these technologies is mainly because of the fact they can precisely handle Big Data & can accurately extract insights from it.
At the beginning of 2018, it was expected that the Analytics, Data Science & the Big Data industry in India would reach $2.71 billion annually in revenues by 2019. As 2019 is about end, the actual figure related to the analytics industry has grown to $3.03 billion in size. Simply Indian analytics industry is growing at a rapid pace exceeding everyone’s expectations.
However, despite the momentum in the market, Indian analytics industry is still facing shortage of skilled analytics experts owing to various reasons.
A Clear View Of India’s Growing Analytics Market-
The cumulative analytics market in India stands at $30 Billion
The outsourcing revenue attained by Indian vendors accounts for $27 billion
Currently the domestic analytics market stands at $3.03 billion & is expected to grow at a more rapid pace.
Analytics Professionals In India-
Owing to the rising analytics needs, our Indian companies are in dire need to skilled analytics experts in Data Science. It is a clear fact that Indian analytics industry is facing shortage of skills contrast to the rise in demand.
According to the stats, the average work experience of Data Science professionals in India is 8 years. It was around 7.9 years in 2018.
Compared to the last year the analytics industry has hired around 22,000 freshers; up from 16,000 freshers last year. This percentage of 37% is very less compared to the uprising colossal demand in the industry.
The major concern of our analytics industry is that almost 40% of our analytics professionals are having work experience less than 5 years.
Step Into The Job Market In Data Science-
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