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India striving to become one of top 3 data analytics centres (Updated- 10:52 AM)

By IndianMandarins- 24 Jun 2016
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india-striving-to-become-one-of-top-3-data-analytics-centres-updated-1052-amIndia is striving to become one of the top-3 global destinations for big data and analytics in the next three years. To speed up the process, Nasscom has launched an online community to pep up the analytics industry in the country as part of its Mission 'Three-by-Three'. The National Association of Software and Services Companies (Nasscom) aims to take the industry revenue to $4 billion from the present base of $2 billion over the three-year period. Terming it a 'Three-by-Three' campaign, KS Viswanathan, Vice-President (Industry Initiatives) of Nasscom, has said that the industry is growing at a CAGR (Compound Annual Growth Rate) of 26 per cent. "We expect that the growth rate will continue in the next nine years to cross the $16-billion mark by 2025, giving us a market share of 32 percent in this space," he told reporters on the sidelines of the fourth edition of the 'Big Data and Analytics Summit' in Hyderabad on Thursday. India has about 600 firms operating in this space. "The demand for analytics is growing significantly as more and more devices are connected and Artificial Intelligence is transforming the technology space. That about 100 new start-ups have come up in 2015 alone shows the potential," he said.

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