The global BPO Business Analytics market is anticipated to grow at a considerable CAGR of 22.8% during the forecast period (2022-2028). BPO (Business Processes Outsourcing) for Business analytics is a process of outsourcing an expert company to handle the analytics process of the particular company. It can be in both ways including services by providing human resources or software deployment. The major factor attributing to the growth of the global BPO business analytics market is the increasing application of BPO business analytics for procurement & supply chain management in logistics businesses due to several benefits offered by the BPO business analytics. The benefits include decreased cost of operations, increased flexibility, more concentration on core business processes, expansion of global presence, decreased security issues, decreased communication issues, and improved speed and efficiency.
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The application of business process outsourcing (BPO) in business analytics is also increasing for human resource outsourcing and customer services in the growing IT & Telecom industry. According to the report published by the India Brand Equity Foundation (IBEF) in March 2022, with the described base of 1.16 billion, India is the second-largest telecommunication industry and is expected to consistently grow during the forecast years. The gross revenue of the Indian telecom industry was around $37.36 billion in 2021 and $8.74 billion in the first quarter of 2022. Thus, contributing to the growth of the global BPO business analytics market.
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The market players are also contributing significantly to the growth of the market by the adoption of various strategies including mergers and acquisitions, geographical expansion, partnerships, collaborations, and new product launches, to stay competitive in the market. For instance, in March 2022, ibex launched a new program called “Augment by ibex”. Augment by ibex is a staff augmentation and managed services offering. In this new program, ibex provides specialized dedicated, and talented professionals for administrative functions, including IT & engineering, marketing, business analytics, and many others.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
- By Component
- By Application
- By Industry
- Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
- Competitive Landscape- Accenture PLC, Cognizant Technology Solutions, Infosys Ltd., IBM Corp., and Tech Mahindra Ltd., among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
- Deviation from the pre-COVID-19 forecast
- Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global BPO Business Analytics Market Report by Segment
By Component
- Service
- Software
By Application
- Accounting & Finance
- Human Resources
- Knowledge Process Outsourcing
- Procurement & Supply Chain
- Customer Services
- Others
By Industry
- BFSI
- IT & Telecommunication
- Manufacturing
- Retail
- Healthcare
- Others
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