Mumbai: New age pure play analytic companies are ramping up operations due to the current digital boom and expected higher expenditure by multinational companies.
Latent View Analytics raised Rs 600 crore from the primary market last year in a highly successful fund raising exercise, as the IPO was subscribed over 326 times.
Another Mumbai-based company, Course 5 Intelligence, with several Fortune 500 companies, including Lenovo as clients, is now gearing to raise around Rs 300 crore from the primary market.
Data & analytics spending is expected to witness robust growth driven by increased adoption of next-generation advanced analytics applications. While the market for data and analytics was around $174 billion in 2020, it is expected to grow at a CAGR of 17.6 per cent to $333 bn by 2024. The total pure play analytics services market is expected to hit $9.7 bn in 2024.
