BPO Business Analytics Market: Introduction
- BPO business analytics refers to a data management solution that allows organizations to obtain potential customers, optimize operational costs, make strategic decisions, and enhance business proficiency and competitiveness. Adoption of advanced technological solutions such as artificial intelligence, machine learning, and Internet of Things (IoT) in business processes, has improved the utilization of BPO business analytics to manage intricacy and large volumes of data sets. Moreover, with an increase in business data consolidation, analytics services and outsourcing of big data is anticipated to infiltrate deeper into organization processes. Increasing demand for BPO business analytics has enabled providers to offer a diverse range of industry-specific solutions and help customers ensure the effectiveness of an organization’s business processes.
- The Covid-19 pandemic is expected to positively impact the BPO business analytics market due to the rise in demand for business analytics in the healthcare industry to proficiently handle the enormous volume of hospital data such as availability of beds and records of patients. This in turn, is anticipated to create significant opportunities in the BPO business analytics market during the forecast period.
Global BPO Business Analytics Market: Dynamics
Global BPO Business Analytics Market: Key Drivers
- The increasing adoption of BPO business analytics in numerous industry verticals symbolizes one the key factors encouraging the growth of the BPO business analytics market. Apart from this, the rising utilization of BPO business analytics across small and medium-sized enterprises coupled with the rising number of business start-ups is boosting the growth of the BPO business analytics market.
- Furthermore, the rising traction of cloud-based BPO services due to their scalability, agility, and reliability is also contributing to the evolution of the BPO business analytics market. Additionally, numerous BPO service vendors are adopting diverse strategies to offer their service online which is generating a positive outlook for the market.
North America to Account for Major Share of Global BPO Business Analytics Market
- In terms of region, the global BPO business analytics market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America
- The BPO business analytics market is dominated by North America and Western Europe. The growth of revenue share in North America is attributed to the rising demand for BPO business analytics outsourcing from sectors such as retail, healthcare, BFSI, and telecommunication.
- The APAC market is anticipated to grow as compared to the other regions in the BPO business analytics market due to rapid rate of industrialization in the region and increasing number of start-ups spending on business analytics solutions.
Global BPO Business Analytics Market: Competitive Landscape
Key Players Operating in Global BPO Business Analytics Market
Providers of BPO business analytics solutions are implementing development strategies to enhance their presence and consolidate their share in the market. BPO business analytics solution providers have adopted major growth strategies such as product launches, partnerships & acquisitions, and forming regional and global distribution networks in order to increase their presence in the market.
Key players operating in the global BPO business analytics market include:
- Accenture PLC
- Capgemini SE
- Cognizant Technology Solutions Corp.
- Exlservice Holdings Inc.
- Genpact Ltd.
- IBM Corporation
- Infosys Limited
- Mu Sigma Inc.
- NTT DATA Corporation
- Tata Consultancy Services Limited (TCS)
- Tech Mahindra Ltd.
- Wipro Ltd.
- WNS Global Services
Global BPO Business Analytics Market: Research Scope
Global BPO Business Analytics Market, by Component
Global BPO Business Analytics Market, by Deployment
- On Premise
Global BPO Business Analytics Market, by Application
- Finance and Accounting
- Human Resources
- Knowledge Process Outsourcing
- Procurement and Supply Chain
- Customer Services
Global BPO Business Analytics Market, by End-user
- IT and Telecommunication
- Transportation and Logistics
Global BPO Business Analytics Market, by Region
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of MEA
- South America
- Rest of South America
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.