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
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
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