Nasscom aims at top 3 position for India in big data analytics by 2025

The National Association of Software and Services Companies (Nasscom) today inaugurated the fourth edition of its Big Data and Analytics Summit 2016 in Hyderabad with a focus on driving business growth by leveraging analytical services and products.

Over 600 analytical firms in India, out of which approximately 400 are start-ups, form the emerging hub for analytics solutions for industries.

"Growing at eight times the current level, the analytics industry is expected to reach $16 billion from the current level of $2 billion, according to the industry body. A rapid growth in big data and analytics is being driven by increased demand for cloud-based and predictive analytics solutions by industries such as banking, financial services and insurance (BFSI) industry, retail, telecom and healthcare," it said.

Over 90,000 analytics professionals are working in India across HR, marketing, risk and security, healthcare, retail and finance.

"India is today among the top 10 destinations for analytics and our aspiration is to be among the top 3 in the world by 2025. Nasscom is partnering with its members to build a multi-pronged approach that encompasses skill development, thought leadership, products and platforms to realise this vision," said Nasscom vice-president KS Viswanathan.