Overview and Scope
Business Process Outsourcing (BPO) business analytics refers to applying data analysis techniques and tools within the context of outsourced business processes. It involves gathering, analyzing, and interpreting data related to various aspects of BPO operations, such as customer service, finance, human resources, and supply chain management, to derive actionable insights and drive informed decision-making. BPO business analytics enables BPO providers and their clients to gain a deeper understanding and visibility into their operations, make data-driven decisions, and achieve strategic objectives more effectively.
Sizing and Forecast
The business process outsourcing (BPO) business analytics market size has grown rapidly in recent years. It will grow from $20.55 billion in 2023 to $24.13 billion in 2024 at a compound annual growth rate (CAGR) of 17.4%. The growth in the historic period can be attributed to increased data generation, cost efficiency, globalization, advances in technology, and demand for insights.
The business process outsourcing (BPO) business analytics market size is expected to see rapid growth in the next few years. It will grow to $46.25 billion in 2028 at a compound annual growth rate (CAGR) of 17.7%. The growth in the forecast period can be attributed to growing demand for data-driven insights, complexity of data management, focus on cost optimization, emphasis on customer experience, and advancements in AI and machine learning. Major trends in the forecast period include increasing adoption of advanced analytics, rising demand for predictive and prescriptive analytics services, expansion of BPO providers’ offerings, leveraging artificial intelligence and machine learning technologies and shift towards cloud-based analytics platforms.
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The business process outsourcing (BPO) business analytics market covered in this report is segmented –
1) By Component: Software, Services
2) By Deployment: Cloud-Based, On-Premises
3) By Organization Size: Small And Medium Enterprises (SMEs), Large Enterprises
4) By Application: Human Resources, Knowledge Process Outsourcing, Procurement & Supply Chain, Customer Services, Other Applications
5) By Vertical: Banking, Financial Services And Insurance (BFSI), Information Technology (IT) And Telecommunication, Healthcare, Manufacturing, Retail, Transportation And Logistics, Other Verticals
North America was the largest region in the business process outsourcing (BPO) business analytics market in 2023. The regions covered in the business process outsourcing (BPO) business analytics market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
The growing cloud-based deployments are expected to propel the growth of the business process outsourcing (BPO) business analytics market going forward. Cloud-based deployment involves delivering software applications or services through the internet using distant servers hosted in the cloud. The growth of cloud-based implementations is due to scalability, flexibility, and the shift towards remote work. Cloud-based deployment supports BPO business analytics by furnishing the essential infrastructure for hosting and remotely accessing analytical tools and data, allowing businesses to utilize advanced analytics capabilities efficiently. For instance, in December 2023, according to Eurostat, a Luxembourg-based government agency, around 45.2% of European Union (EU) enterprises opted for cloud computing services in 2023, representing a 4.2% rise from 2021. Therefore, growing cloud-based deployments are driving the growth of the business process outsourcing (BPO) business analytics market.
Key Industry Players
Major companies operating in the business process outsourcing (BPO) business analytics market are Accenture plc, Tata Consultancy Services Limited, Capgemini SE, NTT DATA Corporation, Cognizant Technology Solutions Corporation, Infosys BPM Limited, Automatic Data Processing Inc., DXC Technology Company, HCL Technologies Limited, Wipro Limited, CGI Inc., Teleperformance SE, Sitel Group, Tech Mahindra Limited, Serco Group plc, Genpact Limited, Conduent Incorporated, TTEC Holdings Inc., Alorica Inc., Sykes Enterprises Incorporated, Mphasis Limited, Atos SE, TaskUs Inc., Firstsource Solutions Limited, Hinduja Global Solutions Limited
The business process outsourcing (bpo) business analytics market report table of contents includes:
1. Executive Summary
2. Business Process Outsourcing (BPO) Business Analytics Characteristics
3. Business Process Outsourcing (BPO) Business Analytics Trends And Strategies
4. Business Process Outsourcing (BPO) Business Analytics – Macro Economic Scenario
5. Global Business Process Outsourcing (BPO) Business Analytics Size and Growth
…..
32. Global Business Process Outsourcing (BPO) Business Analytics Competitive Benchmarking
33. Global Business Process Outsourcing (BPO) Business Analytics Competitive Dashboard
34. Key Mergers And Acquisitions In The Business Process Outsourcing (BPO) Business Analytics
35. Business Process Outsourcing (BPO) Business Analytics Future Outlook and Potential Analysis
36. Appendix
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