India’s big data market set to hit $16b by 2025

India’s big data analytics sector is set to record impressive growth in the coming years, WNS Global Services has predicted.

The sector is expected to witness eight-fold growth to reach $16 billion by 2025 from the current $2 billion, according to industry experts. The sector is also looking at registering compound annual growth rate (CAGR) of 26% over next five years.

India is currently among top 10 big data analytics markets in the world.

“The government, industry and academia can collaborate to build an ecosystem to generate sustainable solutions by harnessing the power of big data and digital innovation,” said WNS Global Services Group CEO Keshav Murugesh.

“The combined power of harnessing big data and digital solutions can drive tremendous results in improving the citizen experience, implementation efficiency and boosting the nation’s economy.”

Murugesh was speaking at the Emerging Worlds Conference workshop organised by Indian School of Design and Innovation (ISDI) in collaboration with MIT Media Labs. “India is a diversified country with a wide array of challenges, and it is pertinent that we as citizens of this country, innovate to find effective solutions that can make a difference to the billion lives that live here,” he said.

“If big data can be put to cutting-edge use for our corporations and clients, it can very well be a catalyst for the economy and the country.”

The workshop brought together industry leaders, technical experts, data scientists, innovators, academic institutions, implementation collaborators and progressive corporate collaborators to source national challenges and potential solutions.