The global BPO business analytics market size reached US$ 27.6 Billion in 2023. Looking forward, the market is projected to reach US$ 135.7 Billion by 2032, exhibiting a growth rate (CAGR) of 19.36% during 2023-2032.
Business analytics refers to a data management solution that enables organizations to comprehend potential customers, make strategic decisions, optimize operational costs, and improve business proficiency and competitiveness. The widespread adoption of advanced technological solutions, such as the internet of things (IoT), machine learning and artificial intelligence (AI), in business processes, has increased the utilization of business analytics to manage large volume and complexity of data sets. Nowadays, organizations are subcontracting their analytics functions to business process outsourcing (BPO) companies or third-party service providers as it helps them to minimize cost on hiring in-house staff and focus on their core business operations.
The rising adoption of business analytics in various industry verticals represents one of the key factors spurring the global BPO business analytics market growth. Apart from this, the increasing utilization of business analytics across small and medium-sized enterprises (SMEs), coupled with the escalating number of business start-ups, is bolstering the market growth. Furthermore, the growing traction of cloud-based BPO services on account of their reliability, scalability and agility is also contributing to the growth of the market.
Moreover, due to the sudden spread of the coronavirus disease (COVID-19), there is a rise in the demand for business analytics in the healthcare industry for efficiently managing the huge volume of hospital data, such as the record of patients and availability of beds. In addition to this, several BPO service providers are adopting different strategies to offer their services online, which is creating a positive outlook for the market.
2. What is the expected growth rate of the global BPO business analytics market during 2024-2032?
3. What are the key factors driving the global BPO business analytics market?
4. What has been the impact of COVID-19 on the global BPO business analytics market?
5. What is the breakup of the global BPO business analytics market based on the offering?
6. What is the breakup of the global BPO business analytics market based on the deployment type?
7. What is the breakup of the global BPO business analytics market based on the application?
8. What is the breakup of the global BPO business analytics market based on the vertical?
9. What are the key regions in the global BPO business analytics market?
10. Who are the key players/companies in the global BPO business analytics market?
Business analytics refers to a data management solution that enables organizations to comprehend potential customers, make strategic decisions, optimize operational costs, and improve business proficiency and competitiveness. The widespread adoption of advanced technological solutions, such as the internet of things (IoT), machine learning and artificial intelligence (AI), in business processes, has increased the utilization of business analytics to manage large volume and complexity of data sets. Nowadays, organizations are subcontracting their analytics functions to business process outsourcing (BPO) companies or third-party service providers as it helps them to minimize cost on hiring in-house staff and focus on their core business operations.
The rising adoption of business analytics in various industry verticals represents one of the key factors spurring the global BPO business analytics market growth. Apart from this, the increasing utilization of business analytics across small and medium-sized enterprises (SMEs), coupled with the escalating number of business start-ups, is bolstering the market growth. Furthermore, the growing traction of cloud-based BPO services on account of their reliability, scalability and agility is also contributing to the growth of the market.
Moreover, due to the sudden spread of the coronavirus disease (COVID-19), there is a rise in the demand for business analytics in the healthcare industry for efficiently managing the huge volume of hospital data, such as the record of patients and availability of beds. In addition to this, several BPO service providers are adopting different strategies to offer their services online, which is creating a positive outlook for the market.
Key Market Segmentation
This report provides an analysis of the key trends in each sub-segment of the global BPO business analytics market report, along with forecasts at the global, regional and country level from 2024-2032. The report has categorized the market based on offering, deployment type, application and vertical.Breakup by Offering:
- Software
- Services
Breakup by Deployment Type:
- Cloud-based
- On-premises
Breakup by Application:
- Finance & Accounting
- Human Resources
- Knowledge Process Outsourcing
- Procurement & Supply Chain
- Customer Services
- Others
Breakup by Vertical:
- BFSI
- IT and Telecommunication
- Healthcare
- Manufacturing
- Retail
- Transportation and Logistics
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape
The report has also analysed the competitive landscape of the market with some of the key players being Accenture PLC, Capgemini SE, Cognizant Technology Solutions, Exlservice Holdings Inc., Genpact Limited, International Business Machines Corporation, Infosys Limited, Mu Sigma Inc., NTT DATA Corporation (Nippon Telegraph and Telephone), TATA Consultancy Services Limited (Tata Sons Private Limited), Tech Mahindra Limited (Mahindra Group), Wipro Limited and WNS Global Services.Key Questions Answered in This Report
1. How big is the global BPO business analytics market?2. What is the expected growth rate of the global BPO business analytics market during 2024-2032?
3. What are the key factors driving the global BPO business analytics market?
4. What has been the impact of COVID-19 on the global BPO business analytics market?
5. What is the breakup of the global BPO business analytics market based on the offering?
6. What is the breakup of the global BPO business analytics market based on the deployment type?
7. What is the breakup of the global BPO business analytics market based on the application?
8. What is the breakup of the global BPO business analytics market based on the vertical?
9. What are the key regions in the global BPO business analytics market?
10. Who are the key players/companies in the global BPO business analytics market?
Table of Contents
1 Preface3 Executive Summary12 Value Chain Analysis14 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global BPO Business Analytics Market
6 Market Breakup by Offering
7 Market Breakup by Deployment Type
8 Market Breakup by Application
9 Market Breakup by Vertical
10 Market Breakup by Region
11 SWOT Analysis
13 Porters Five Forces Analysis
15 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accenture PLC
- Capgemini SE
- Cognizant Technology Solutions
- Exlservice Holdings Inc.
- Genpact Limited
- International Business Machines Corporation
- Infosys Limited
- Mu Sigma Inc.
- NTT DATA Corporation (Nippon Telegraph and Telephone)
- TATA Consultancy Services Limited (Tata Sons Private Limited)
- Tech Mahindra Limited (Mahindra Group)
- Wipro Limited
- WNS Global Services
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 136 |
| Published | April 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 27.6 Billion |
| Forecasted Market Value ( USD | $ 135.7 Billion |
| Compound Annual Growth Rate | 19.3% |
| Regions Covered | Global |
| No. of Companies Mentioned | 13 |
