India Analytics as a Service Market Research Report By Component (Solutions, Services) and By Analytics Type (Predictive, Prescriptive)-Forecast to 2035

India Analytics as a Service Market Overview

As per MRFR analysis, the India Analytics as a Service Market Size was estimated at 552 (USD Million) in 2023. The India Analytics as a Service Market Industry is expected to grow from 716.4(USD Million) in 2024 to 8,092 (USD Million) by 2035. The India Analytics as a Service Market CAGR (growth rate) is expected to be around 24.657% during the forecast period (2025 - 2035).

Key India Analytics as a Service Market Trends Highlighted

The India Analytics as a Service market is experiencing significant growth driven by increasing data volumes and the need for advanced data analysis across various sectors. Organizations are recognizing the importance of leveraging analytics to enhance decision-making, improve operational efficiency, and drive innovation.

The surge in digital transformation initiatives in India, fueled by government policies promoting a digital economy, is leading to a rise in the adoption of analytics solutions. Recent trends in the market indicate a growing focus on real-time analytics and machine learning capabilities. As businesses aim to respond quickly to market changes, the demand for real-time insights is becoming essential.

Moreover, the increasing accessibility of cloud-based solutions is enabling even small and medium enterprises to adopt analytics as a service, thereby broadening the customer base. Additionally, there is a notable interest in sector-specific analytics services, particularly in industries such as healthcare, finance, and retail, where tailored solutions can address unique challenges.

Opportunities for companies in the Indian analytics space are vast, particularly in the area of enhancing data privacy and security measures. As regulations around data protection become stricter, there is a rising demand for analytics solutions that can securely analyze and manage data.Collaborations between government and private sectors are fostering an environment conducive to innovation, allowing start-ups to explore niche areas within analytics.

The emphasis on skill development and education in data science, supported by both governmental initiatives and educational institutions, further propels the analytics services market in India. This evolving landscape showcases a dynamic and rapidly growing analytics as a service market in India.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

India Analytics as a Service Market Drivers

Rising Demand for Data-Driven Decision Making

In India, rising digitalization in numerous industries has considerably raised the need for data analytics. According to research from the Ministry of Electronics and Information Technology, India's digital economy is anticipated to be worth USD 1 trillion by 2025. This expanding trend highlights the relevance of data-driven decision-making in business, assuring efficiency and market competitiveness.

Established companies, like as Infosys, have been investing extensively in analytics-as-a-service solutions, expanding their capabilities to meet this demand.

The reliance on data analytics is clear as organizations use insights to enhance operations, reduce risks, and pursue new growth possibilities, moving India Analytics as a Service Market Industry ahead.

The growing usage of advanced analytics is expected to contribute considerably to market growth, with predictions pointing to a steady rise spurred by government programs encouraging digital transformation.

Expansion of Artificial Intelligence and Machine Learning

The integration of Artificial Intelligence (AI) and Machine Learning (ML) technologies in the India Analytics as a Service Market industry presents a substantial growth driver. Recent insights from the National Association of Software and Service Companies predict that the AI and ML market in India could reach USD 15.7 billion by 2025.

Major players like Tata Consultancy Services are leading the way in embedding AI capabilities in their analytics platforms, making it easier for organizations to derive actionable insights from vast data pools.

This trend of incorporating AI and ML into analytics services is becoming crucial as companies seek to enhance customer experience and operational efficiency, consequently driving the demand for analytics as a service in the Indian market.

Increasing Focus on Cloud Adoption

The shift towards cloud computing in India is another critical factor contributing to the growth of the Analytics as a Service Market. The Cloud Industry Forum indicates that as of 2023, approximately 70% of Indian businesses are leveraging multiple cloud services.

With more companies opting for cloud solutions, providers of analytics-as-a-service are ideally positioned to meet this growing demand. Corporations like Wipro are actively enhancing their cloud-based analytics services, providing cost-effective and scalable solutions to clients.

The ease of access to data analytics offered by cloud technologies, combined with their flexibility and scalability, means that organizations can harness data for strategic decision-making, which will further enhance the growth of the India Analytics as a Service Market Industry.

India Analytics as a Service Market Segment Insights

Analytics as a Service Market Component Insights

The Component segment within the India Analytics as a Service Market presents significant growth opportunities as organizations increasingly recognize the value of data-driven decision-making. This segment encompasses key elements such as Solutions and Services that play essential roles in shaping the analytical landscape.

Through various Solutions offered, businesses can leverage advanced analytics methodologies to uncover insights from their data, enabling them to optimize operations, improve customer experience, and drive innovation. Services complement these Solutions by providing critical support such as implementation, training, and ongoing assistance, which ensures that organizations can effectively harness analytics capabilities.

The rising demand for tailored analytics solutions is being driven by India's expanding digital infrastructure, with a focus on cloud adoption and automation, enabling enterprises to access and analyze vast amounts of data seamlessly.

As more industries, including healthcare, finance, and retail, realize the importance of predictive analytics and business intelligence, the Solutions component is becoming increasingly vital. Services play a crucial role in ensuring that organizations can remain competitive by maximizing their investment in analytics technologies.

Moreover, the government’s initiatives to promote digital transformation in the country bolster the relevance of various Solutions in meeting compliance and regulatory requirements. Market trends indicate that businesses seek comprehensive analytics Solutions designed to cater to unique industry needs, leading to customization and integration services that enhance the usability and accessibility of analytics operations.

Consequently, the Services associated with these Solutions are essential not only for implementation but also for ensuring continuous evolution and adaptation to new analytical technologies and methods. Overall, the Component segment of the India Analytics as a Service Market, which includes both Solutions and Services, is characterized by its alignment with industry advancements and the growing emphasis on effectively utilizing analytics for strategic business growth.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Analytics as a Service Market Analytics Type Insights

The India Analytics as a Service Market, under the Analytics Type segment, has seen significant development focusing on analytical methods like Predictive and Prescriptive analytics. Predictive analytics, which leverages historical data and statistical algorithms to forecast future outcomes, is critical for businesses looking to enhance decision-making processes and optimize operational efficiency.

This segment has been gaining traction as organizations in India increasingly value data-driven insights to mitigate risks and capitalize on market trends.

Meanwhile, Prescriptive analytics provides recommendations for actions based on predictive analysis, making it essential for strategic planning across various industries, including finance, healthcare, and manufacturing.

The market demand for such analytics types is fueled by the rapid digital transformation in India, where businesses harness data for competitive advantage.

As companies continue to adopt cloud-based solutions and analytic tools, both Predictive and Prescriptive analytics are projected to play pivotal roles in shaping operational strategies.

The surge in data generation, coupled with a growing emphasis on automation, presents vast opportunities for innovation and efficiency within the India Analytics as a Service Market. Emphasizing these analytical types allows organizations to remain agile and responsive in a dynamic market landscape, ultimately contributing to enhanced customer satisfaction.

India Analytics as a Service Market Key Players and Competitive Insights

The India Analytics as a Service Market has witnessed significant growth and evolution in recent years, driven by the increasing demand for data-driven decision-making across various industries. Companies are leveraging analytics services to gain insights, improve operational efficiency, and enhance customer experiences. The competitive landscape is characterized by a diverse range of players, each offering unique capabilities and solutions.

These companies utilize advanced technologies such as artificial intelligence, machine learning, and cloud computing to deliver tailored analytics services. The accessibility of big data and the growing emphasis on real-time analytics pose both opportunities and challenges for businesses as they compete to establish their foothold in a rapidly changing environment.

As organizations continue to recognize the value of analytics, the market is expected to become more dynamic, seeing innovations and collaborations that enhance service offerings and improve customer satisfaction.

Tech Mahindra stands out in the India Analytics as a Service Market by harnessing its extensive technological expertise to provide comprehensive analytics solutions tailored for various industries. The company's focus on creating innovative, data-centric solutions allows it to address the unique needs of clients, driving business transformation and efficiency.

Tech Mahindra's strengths lie in its robust infrastructure, skilled workforce, and commitment to research and development, enabling it to stay ahead of market trends and technological advancements. The company's collaborations with leading technology providers and academic institutions further bolster its capabilities, enriching its offerings in the analytics space.

Tech Mahindra's emphasis on customer satisfaction and strategic partnerships positions it favorably in the competitive landscape, allowing it to effectively respond to evolving market demands within the analytics services domain.

HCL Technologies has made a significant impact in the India Analytics as a Service Market by offering a wide range of analytics solutions designed to cater to the distinct requirements of businesses. With a strong portfolio of products and services that include advanced data analytics, predictive modeling, and real-time reporting, HCL Technologies is well-positioned in this competitive landscape.

The company leverages its deep domain knowledge across various sectors, which enhances its ability to deliver relevant and impactful analytics solutions. HCL Technologies has also engaged in strategic mergers and acquisitions to strengthen its market presence and expand its service offerings, allowing the company to tap into new customer segments and technologies.

This approach reinforces HCL’s commitment to driving innovation as it continues to invest in new analytics capabilities alongside a talented workforce that is adept at navigating the complexities of the analytics market.

Key Companies in the India Analytics as a Service Market Include

• Tech Mahindra


• HCL Technologies


• Wipro


• Mu Sigma


• SAP


• Infosys


• Cognizant


• Tata Consultancy Services


• Oracle


• Fractal Analytics


• Amazon Web Services


• IBM


• Accenture


• Microsoft


• Nielsen

India Analytics as a Service Market Industry Developments

The India Analytics as a Service Market is experiencing significant growth, driven by increasing demand for data-driven insights across various sectors. Recent news developments highlight the rising trend of major companies like Tech Mahindra and Wipro expanding their analytics service offerings as businesses in India seek to leverage data for enhanced decision-making.

Current affairs indicate a surge in cloud adoption and advancements in artificial intelligence, with companies such as IBM and Microsoft playing pivotal roles in shaping the market landscape.

In terms of mergers and acquisitions, Tata Consultancy Services announced its acquisition of a fintech startup in August 2023, enhancing its analytics capabilities.

Similarly, in July 2023, Accenture acquired a data analytics firm to strengthen its position in the Analytics as a Service sector within India.

Over the past few years, significant occurrences include Fractal Analytics securing a funding round in September 2022, propelling its market valuation, and Infosys launching a new analytics platform in November 2021 aimed at small and medium enterprises.

This ecosystem is poised for rapid expansion with projected market valuation growth as businesses increasingly integrate analytics into their operational strategies.

India Analytics as a Service Market Segmentation Insights

Analytics as a Service Market Component Outlook

• Solutions


• Services

Analytics as a Service Market Analytics Type Outlook

• Predictive


• Prescriptive

 

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	552.0(USD Million)
MARKET SIZE 2024	716.4(USD Million)
MARKET SIZE 2035	8092.0(USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	24.657% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Tech Mahindra, HCL Technologies, Wipro, Mu Sigma, SAP, Infosys, Cognizant, Tata Consultancy Services, Oracle, Fractal Analytics, Amazon Web Services, IBM, Accenture, Microsoft, Nielsen
SEGMENTS COVERED	Component, Analytics Type
KEY MARKET OPPORTUNITIES	Increasing demand for data-driven insights, Growth of AI and machine learning applications, Expansion of SMEs adopting analytics, Rising need for real-time analytics solutions, Enhanced focus on data security and compliance
KEY MARKET DYNAMICS	Growing data volume, Increasing cloud adoption, Demand for real-time analytics, Cost efficiency and scalability, Enhanced data security measures
COUNTRIES COVERED	India