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BPO Business Analytics Market to Grow at 21.6% CAGR by 2022-2027 | IMARC Group
BPO Business Analytics Market Research & Forecast Report 2022-2027
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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BPO Business Analytics Market Trends and Drivers:
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.
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Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
• 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.
BPO Business Analytics Market 2022-2027 Competitive Analysis and Segmentation:
The report has segmented 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
• Asia-Pacific
• Europe
• Latin America
• Middle East and Africa
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