The business process outsourcing (bpo) business analytics global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Business Process Outsourcing (BPO) Business Analytics Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – 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 Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Market Drivers –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.
Market Trends – Major companies operating in the business process outsourcing (BPO) business analytics market are focusing on developing artificial intelligence technologies-based BPO consulting services to gain a competitive edge in the market. Intelligence technologies-based BPO consulting services are consultancy offerings that leverage advanced technologies such as artificial intelligence (AI), machine learning (ML), data analytics, and automation to optimize and enhance business process outsourcing (BPO) operations. For instance, in February 2024, Acquire BPO, a US-based business process outsourcing company, launched its new division, Acquire AI, an innovative consulting service. Acquire AI provides a cutting-edge AI consulting service aimed at helping businesses navigate the intricacies of the artificial intelligence revolution. Their goal is to support businesses in identifying, prioritizing, and deploying customized AI solutions to revolutionize industries, enhance operational efficiency, stimulate significant growth, and elevate customer satisfaction.
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
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Regional Insights – 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.
Key Companies – 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
Table of Contents
1. Executive Summary
2. Business Process Outsourcing (BPO) Business Analytics Market Report Structure
3. Business Process Outsourcing (BPO) Business Analytics Market Trends And Strategies
4. Business Process Outsourcing (BPO) Business Analytics Market – Macro Economic Scenario
5. Business Process Outsourcing (BPO) Business Analytics Market Size And Growth
…..
27. Business Process Outsourcing (BPO) Business Analytics Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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