Indian Big data analytics sector is expected to witness almost eight-fold growth to reach $16 billion by 2025 from the current level of $2 billion, according to the National Association of Software and Services Companies (Nasscom).
India is currently among top 10 big data analytics markets in the world. Nasscom, which is holding fourth edition of its big data and analytics summit here, has set a target of making India one among the top three markets in next three years.
K.S. Viswanathan, Vice President, Nasscom, said the sector was expected to grow at CAGR (compounded annual growth rate) of 26 percent over next five years.
“The sector has huge growth potential and by 2025, India will have 32 percent share in the global market,” he told reporters on the sidelines of the two-day summit which began on Thursday.
He said Nasscom was partnering with its members to build a multi-pronged approach that encompasses skill development, thought leadership, products and platforms to realise the vision.
According to Nasscom, there are about 600 analytics firms in the country, out of which 400 are start-ups. About 100 companies were added during 2015.