The Big Data analytics sector in India is expected to witness an eight-fold growth by 2025 from the current $2 billion to $16 billion, according to industry experts. India, according to experts, is currently among top 10 Big Data analytics markets in the world. IT trade body Nasscom has set a target of making the country one among the top three markets in the next three years.
Earlier, Nasscom had identified six areas of specialization in the Big Data Analytics domain that are expected drive growth in the sector: business analysts, solution architects, data integrators, data architects, data analysts and data scientists. "With the rising requirement for niche competencies in AI (artificial intelligence) and analytics, the skill/expertise of the IT workforce will spearhead the analytical transformation on critical business processes across the industry", Nasscom said.
According to Nasscom, the analytics export market grew by nearly 20 percent in FY2017, posting a much higher growth compared to overall IT exports. According to Nasscom, the emergence of big data phenomenon in corresponding technologies is giving rise to new trends in the analytics domain.
The growth in the analytics sector has also boosted job opportunities in the sector. The number of analytics jobs has nearly doubled in the past one year, according to a study by Analytics India Magazine a platform on analytics, data science and big data and Edvancer Eduventures an online analytics training institute. The Analytics & Data Science India Jobs Study 2017 has estimated close to 50,000 positions related to analytics are currently available to be filled in India. This increase in the number of jobs available in analytics is nearly twice that of the previous year and "suggests increased momentum in hiring in analytics and data science in India", says the study.
The study also said that skills in R and Python remain the most sought-after that company is looking for, with almost 36 percent of advertised analytics jobs in India demanding R as a core skill and another 30 percent Python, followed by Hadoop, SAS, and Spark, among others.
Aakash Shah, CEO, and founder of Edvancer Eduventures said: "Jobs in analytics & data science have grown by 100 percent over the last year adding tens of thousands of employment opportunities. However, a large portion of people in IT will need to re-skill themselves in data science to make the most of this employment boom".
News Source: NDTVLast modified on Thursday, 28 September 2017