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IMARC Group has recently released a new research study titled “BPO Business Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, which offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What are the growth prospects of the BPO business analytics industry ?
The global BPO business analytics market reached a value of US$ 18.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 63.9 Billion by 2027, exhibiting at a CAGR of 21.06% during 2022-2027.
What is BPO business analytics ?
BPO business analytics is a data management tool that assists business process outsourcing (BPO) organizations to perceive potential customers, make strategic decisions, improve business proficiency and competitiveness, and optimize operational costs. The increasing penetration of machine learning, Internet-of-Things (IoT), and artificial intelligence (AI) in business processes have increased the utilization of analytics to manage large volume and complex data sets. Several organizations subcontract their analytics tasks to business process outsourcing (BPO) companies for reducing the cost of hiring in-house staff, along with focusing on their core business operations.
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Market Trends
The increasing adoption of BPO business analytics across various industries is augmenting the market growth. The rising number of business startups and the increased utilization of analytics across small and medium-sized enterprises (SMEs) are further driving the market growth. Additionally, the growing deployment of cloud-based BPO services due to their reliability, scalability, and agility is also strengthening the growth of the market. Moreover, the sudden outbreak of the novel coronavirus disease (COVID-19) has escalated the demand for business analytics in the healthcare industry for efficiently managing medical data, such as the availability of hospital beds and records of patients. Besides this, several BPO service providers are adopting numerous strategies for the implementation of their services through online portals, which will continue to drive the market for BPO business analytics in the coming years.
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List of Key Companies Covered in this Market Report:
Accenture PLC (NYSE: ACN)
Capgemini SE (EPA: CAP)
Cognizant Technology Solutions (NASDAQ: CTSH)
Exlservice Holdings Inc. (NASDAQ: EXLS)
Genpact Limited (NYSE: G)
International Business Machines Corporation (NYSE: IBM)
Infosys Limited (NSE: INFY)
Mu Sigma Inc.
NTT DATA Corporation (Nippon Telegraph and Telephone) (TYO: 9613)
TATA Consultancy Services Limited (Tata Sons Private Limited) (NSE: TCS)
Tech Mahindra Limited (Mahindra Group) (NSE: TECHM)
Wipro Limited (NSE: WIPRO)
WNS Global Services (NYSE: WNS)
The report has segmented the market on the basis of offering, deployment type, application, vertical and geography.
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 Geography:
North America (U.S. & Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East & Africa
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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