IMARC Group, a leading market research company, has recently releases report titled, “BPO Business Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“, The study provides a detailed analysis of the industry, including the global BPO business analytics market size, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the BPO business analytics market?
| Report Attributes | Details |
| Market Size in 2022 | US$ 22.7 Billion |
| Market Forecast in 2028 | US$ 72.0 Billion |
| Growth rate (2023 to 2028) | CAGR of 21.5% |
| Base Year of the Analysis | 2022 |
| Forecast Period | 2023-2028 |
What is BPO business analytics?
Business analytics refers a set of technologies employed for solving business problems using data analysis, statistical models, and other quantitative methods. It involves iterative, methodical data exploration with structural analysis to evaluate and identify weaknesses in the current business processes. At present, it is widely utilized by business process outsourcing (BPO) service providers for back and front-office operations, including payment processing, quality assurance, marketing and customer relations, to achieve higher efficiency, assist decision-making, lower costs, and global expansion.
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What are the growth prospects and trends in the BPO business analytics industry?
The increasing adoption of cloud-based BPO services on account of their high flexibility and agility in various applications, such as finance and accounting, human resources, knowledge process outsourcing, procurement and supply chain, and customer services, represents one of the key factors positively influencing the market. In addition, the widespread integration of advanced technological solutions, such as artificial intelligence (AI) and machine learning (ML), in business processes is catalyzing the demand for business analytics to manage large volumes and complexity of data sets. This, in confluence with the rise in deployment of cloud-based solutions across small and medium enterprises (SMEs), is propelling the market growth across the globe. Apart from this, the increasing application of business analytics in the banking, financial services and insurance (BFSI), healthcare, manufacturing, transportation and logistics, and retail industries is driving the market worldwide.
What is included in market segmentation?
The report has segmented the market into the following categories:
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
- Asia-Pacific
- Europe
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
The report covers the major market players including:
- 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.
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