When we talk about the Analytics Industry in India, we are looking at a $2.71 billion industry. And furthermore, it is estimated to grow at a compound annual growth rate of 33.5 percent. This implies that the size of the industry will grow up to $20 billion by 2025. With this scenario, one can automatically detect the pace of growth of analytics in all sectors. The evolution has been prominent for last five years, but the upsurge in the recent years has reached a whole new level.
The job market is growing by leaps and bounds
Be it a bootstrapping endeavor or a Fortune 500 company, everyone is hiring analytics professionals primarily to acquire and accumulate insights from big data. Well, that seems to be the only way to perform consistently in this era of open competition. According to the job surveys, it has been revealed that there are about 90,000 job openings in the data science and related fields currently in India alone contributing to 12% of the job openings globally. This, of course, leads to the requirement for a solid infrastructure for analytics education. There are premier institutes around India which have aptly responded to the growing demand for analytics training. Currently, data analytics training in Bangalore marks the optimum standard.
Bangalore deserves special applauds
You cannot talk about technology in India without mentioning Bangalore, right? The city is presently hosting about 16 or more international events on different data related fields. Those include big data, artificial intelligence technologies, Hadoop, machine learning and other topics from the same league. These are dated from this week till the first quarter of the upcoming year and this cannot be mere coincidence.
There are approximately 2787 data analyst jobs available in Bangalore according to just one job portal. As mentioned earlier, all premier data analytics academies have their branches in Bangalore. The training procedure usually aims for a perfect balance between theoretical and practical training.
Expansion of analytics in different fields
The presence and importance of data are all-pervading. The presence of data, of course, entails the possibility of exploiting that data for actionable insights. So, we have an ever-lengthening list of fields that have grown dependent on data analytics.
- The e-commerce industry is using analytics vigorously to reach the consumers on a more personal level.
- Healthcare analytics is growing fast with the growth of digitized treatment procedures.
- Financial institutes are using big data analytics for risk reduction.
- Cybersecurity is largely dependent on analytics.
- It is largely used for traffic management in major Indian cities.
The list could go on for pages.
There is a growing curiosity is a good sign
A lot of companies are yet to adopt analytics and a number of them have not really succeeded in reaping value from their analytics endeavors. But there is a growing curiosity about the process. The prospect of predicting the future with the help of data interests the enterprise owners greatly. This means there will be a lot more opportunities for the students who take up data analytics as a career.
2018 looks like a coming of age year for Indian analytics. There is a long way to go and the way looks bright.