India is the fastest growing economy today and its digital economy has grown by leaps and bounds. There has been a phenomenal increase in the adaptation and implementation of big data, data analytics and artificial intelligence in India this is one of the reasons while the digital economy of India is doing so good. Interestingly, in a report by Nasscom it has been claimed that the data cloud market in India is expected to grow beyond $7.1Billion within 2022 which is really amazing.
The Indian government aims to achieve its ‘digital India’ dream of transforming India into a digitally empowered society through its big data initiative which is designed to promote and foster the use of Big data science and associated technologies.
Current condition of the analytics market in India
- Currently the Big data analytics market in India is valued at $2billion and with a CAGR of 26% it is expected to reach 16billion by 2025.
- In the upcoming decade it is expected that India’s share in the global analytics market will be more than 35% and keep growing.
- The IoT market has also flourished in India and is projected to cross $15billion by 2020.
- The Indian software as a service(SaaS) market is estimated to cross $3.3billion by 2022.
- A survey by the Analytics India magazine in 2018 found out that the big data industry in India was worth $2.71billion and is growing at a phenomenal rate of 33.5% CAGR.
Why is Big data making headlines in India?
With an increase in internet penetration, India has become one of the leading consumers of social media and smartphones. Now, the country creates several thousands of GB of data every day and it has been increasing at a rapid scale. And it is only with the help of Big data analytics that companies and govt. enterprises can get valuable insights from that voluminous and complex data. For instance, in a city like Bangalore which is the IT capital of the country, there are many E-commerce giants who are continuously competing with each other for the ever increasing market share of India. And it is Big data analytics which is helping the companies to perform better and fully realize the market potential of India.
How can it help the employment scenario of India?
As India continues to embrace big data, there is an ever increasing demand for skilled professionals across the industries. With both the private and the govt. sector adopting big data analytics the demand is projected to grow rapidly. However, there are not too many skilled individuals at the moment to take up positions in leading companies in Bangalore and elsewhere. This talent gap is a real problem and thus, you should use it to your advantage by getting enrolled in a Big data analytics training in Bangalore. A Big data analytics training in Bangalore will not only fetch you a lucrative job in India but also will allow you to fully realize your potential.