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Business Process Outsourcing (BPO) Business Analytics Market 2024-2033 | Size, Share Trends, Growth And Insights
Business Process Outsourcing (BPO) Business Analytics Market
As per the report, 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 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%.
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Cloud-Based Deployments Driving Growth In BPO Business Analytics Market
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.
Companies Harnessing AI For BPO Business Analytics
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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Major companies operating in the business process outsourcing (BPO) business analytics market are 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
Contents of the report:
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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