BPO Business Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

BPO Business Analytics Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Market Overview:

The global BPO business analytics market size reached US$ 22.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 72.0 Billion by 2028, exhibiting a growth rate (CAGR) of 21.5% during 2023-2028.

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:

IMARC Group 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 2023-2028. Our 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:

How has the global BPO business analytics market performed so far and how will it perform in the coming years?
What has been the impact of COVID-19 on the global BPO business analytics market?
What are the key regional markets?
What is the breakup of the market based on the offering?
What is the breakup of the market based on the deployment type?
What is the breakup of the market based on the application?
What is the breakup of the market based on the vertical?
What are the various stages in the value chain of the industry?
What are the key driving factors and challenges in the industry?
What is the structure of the global BPO business analytics market and who are the key players?
What is the degree of competition in the industry?