The BPO business analytics market share is expected to increase by USD 18.88 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 16%.
This BPO business analytics market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers BPO business analytics market segmentation by end-user (BFSI, retail, healthcare, manufacturing, and others) and geography (North America, APAC, Europe, MEA, and South America). The BPO business analytics market report also offers information on several market vendors, including Accenture Plc, Capgemini SE, Dell Technologies Inc., Fujitsu Ltd., Infosys Ltd., Wipro Ltd., International Business Machines Corp., Tata Consultancy Services Ltd., Cognizant Technology Solutions Corp., and Hewlett Packard Enterprise Development LP among others.
What will the BPO Business Analytics Market Size be During the Forecast Period?
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BPO Business Analytics Market: Key Drivers, Trends, and Challenges
Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The generation of high volume of data is notably driving the BPO business analytics market growth, although factors such as rising threat from open-source software may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the BPO business analytics industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key BPO Business Analytics Market Driver
One of the key factors driving the BPO business analytics market growth is the need to revamp operational processes. Businesses have been concentrating on increasing their overall efficiency. To reinvent their product and service offerings, organizations today require strategic planning that is integrated with their operational plans. Organizations can use business analytics tools to link their project management planning with their business objectives for innovation and long-term development. Business analytics software aids firms in their strategic planning processes and allows them to allocate resources for project development. Optimization of capacity, increased profit, and reduction of lead time and cost through the development of the IT infrastructures are the key requirements in any organization that can be brought about through business analytics. Deployment of business analytical tools helps organizations improve efficiency and productivity, which helps them meet their business demands quickly and remain competitive.
Key BPO Business Analytics Market Trend
Another key factor driving the BPO business analytics market growth is the emergence of advanced text analytical tools. Advanced analytics tools such as predictive analytics help enterprises to predict information that can impact business performance in a certain time frame. Enterprises are using advanced analytics tools to understand consumer behavior and trade pattern. Customer relationship management, financial management, and high-profit margins can all be part of a company's business strategy. Predictive analytical techniques are gradually being more widely used in businesses. Predictive analytics is the practise of evaluating a huge data set and forecasting future events using advanced mathematics and statistical methods. Predictive analytics uses analytical modelling rather than typical manual computations and spreadsheets to help organizations plan and execute initiatives. Changes in company dynamics, such as customer demand, market strategy changes, and business cycle interruptions, are supported by predictive analytics technologies. It generates possible business scenarios to provide insights into the future of any project.
Key BPO Business Analytics Market Challenge
One of the key challenges to the BPO business analytics market growth is the rising threat from open-source software. Through a freemium version of business analytics software solutions, analytics firms offer businesses to use business analytics capabilities for no cost. Enterprises can utilize open-source software to manage analytics operations, which can be downloaded from the internet. Many open-source manufacturers offer a variety of business analytics tools and applications on the market. Multiple products from various open-source vendors combined together can cover almost all the functionalities provided by on-premise or on-demand business analytics software vendors. Query, reporting, analysis, advanced analytics, and data warehouse development platforms are all provided by open-source companies. As a result, end-users may use free versions of business analytics software, which will have a detrimental influence on the market.
This BPO business analytics market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Parent Market Analysis
Technavio categorizes the global BPO business analytics market as a part of the global data processing and outsourced services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the BPO business analytics market during the forecast period.
Who are the Major BPO Business Analytics Market Vendors?
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
- Accenture Plc
- Capgemini SE
- Dell Technologies Inc.
- Fujitsu Ltd.
- Infosys Ltd.
- Wipro Ltd.
- International Business Machines Corp.
- Tata Consultancy Services Ltd.
- Cognizant Technology Solutions Corp.
- Hewlett Packard Enterprise Development LP
This statistical study of the BPO business analytics market encompasses successful business strategies deployed by the key vendors. The BPO business analytics market is fragmented and the vendors are deploying growth strategies such as organic and inorganic growth strategies to compete in the market.
Product Insights and News
- Dell Technologies Inc. - The company offers BPO Business Analytics services such as Robotic Process Automation and Predictive analytics.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The BPO business analytics market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
BPO Business Analytics Market Value Chain Analysis
Our report provides extensive information on the value chain analysis for the BPO business analytics market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The value chain of data processing and outsourced services market includes the following core components:
- Inputs
- Operations
- Data sourcing and collection
- Data quality and cleaning
- Data enrichment
- Data management
- Data delivery and decision making
- Marketing and sales
- Support activities
- Innovations
The report has further elucidated on other innovative approaches being followed by service providers to ensure a sustainable market presence.
Which are the Key Regions for BPO Business Analytics Market?
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38% of the market’s growth will originate from North America during the forecast period. US is the key market for BPO business analytics market in North America. Market growth in this region will be faster than the growth of the market in MEA regions.
The adoption of BPO services to implement big data and analytics technology in the public sectors in the Americas is gradually increasing. This will facilitate the BPO business analytics market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.
COVID Impact and Recovery Analysis
The economy of several countries had come to a complete halt owing to lockdown due to COVID-19. For example, in the US, the government is considering partial and phased lifting of the lockdown. Companies such as Tango Analytics LLC (Tango) are providing tools to the retailers to plan strategies to re-open stores. These tools aid retailers in visualizing live locations on the map and informs them about the exposure of the virus per million incidents where their stores are located. Owing to the sudden outbreak of coronavirus disease (COVID-19), there is a rise in the demand for business analytics in the healthcare industry for the efficient management of the huge volume of hospital data, which includes records of patients and availability of beds. The growing traction of cloud-based BPO services, on account of their reliability, scalability, and agility, is also contributing to the growth of the market.
What are the Revenue-generating End-user Segments in the BPO Business Analytics Market?
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The BPO business analytics market share growth by the BFSI will be significant during the forecast period. BFSI firms have invested largely in IT solutions and are early adopters of IT trends such as analytics, cloud computing, and virtualizations. Financial institutions are migrating to software as a service (SaaS) based business analytics tools to minimize the upfront cost of IT expenditures. The SaaS-based business analytics software enables an enterprise to implement flexible IT solutions that can be customized as per business requirements. BFSI is increasingly becoming an aggressive digital marketer through the mobile channel, and this trend has been existing and will continue to maintain its momentum across geographies.
Besides the above-mentioned factors, the post COVID-19 impact has brought forth a slowdown in or fast tracked the demand for the service or product. This report provides an accurate prediction of the contribution of all the segments to the growth of the BPO business analytics market size and actionable market insights on post COVID-19 impact on each segment.
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BPO Business Analytics Market Scope |
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Report Coverage |
Details |
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Page number |
120 |
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Base year |
2020 |
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Forecast period |
2021-2025 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 16% |
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Market growth 2021-2025 |
$ 18.88 billion |
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Market structure |
Fragmented |
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YoY growth (%) |
13.24 |
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Regional analysis |
North America, APAC, Europe, MEA, and South America |
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Performing market contribution |
North America at 38% |
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Key consumer countries |
US, UK, India, Japan, and Italy |
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Competitive landscape |
Leading companies, Competitive strategies, Consumer engagement scope |
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Key companies profiled |
Accenture Plc, Capgemini SE, Dell Technologies Inc., Fujitsu Ltd., Infosys Ltd., Wipro Ltd., International Business Machines Corp., Tata Consultancy Services Ltd., Cognizant Technology Solutions Corp., and Hewlett Packard Enterprise Development LP |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
What are the Key Data Covered in this BPO Business Analytics Market Report?
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive BPO business analytics market growth during the next five years
- Precise estimation of the BPO business analytics market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the BPO business analytics industry across North America, APAC, Europe, MEA, and South America
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of BPO business analytics market vendors
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