Industry Background:
The role of big data in customer data analytics is important, only a handful of companies leverage to their complete advantage. Some of these people include retailers who want to increase the sales and profits by more than 60%. When you have more accurate information about your customers, it is easier to understand what is going on within the dedicated customer service department. BPO industry, in the recent years, has indicated an innovative new approach of providing better services to its clients by delivering a less complicated basket of offerings, such as business analytics, IT infrastructure and applications, and business process management (BPM). The service providers are making a shift towards the intellectual capital-oriented models by following automation practice for creating and managing business processes.
According to AMA Research, the market for BPO Business Analytics is expected to register a CAGR of 18.8% during the forecast period to 2030. This growth is primarily driven by Increasing Volume of Enterprise Data
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Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Volume Unit | N |
Value Unit | USD (Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
The Business Services sector in the
region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Accenture (Ireland), Capgemini (France), Genpact (United States), IBM (United States), TCS (India), HP Development Company, L.P. (United States), Tech Mahindra (India), Wipro (India) and EXL Service (United States), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
In November 2023, Broadvoice announced a new program called CXHub, in partnership with global contact center solutions marketplace ArenaCX. With CXHub, businesses have access to a marketplace of nearly 200 pre-vetted BPO providers to quickly and affordably meet their CCaaS and other business outsourcing needs.
In February 2024, Acquire BPO announced the launch of its new division, Acquire.AI. This innovative consulting service is designed to guide businesses through the intricacies of the artificial intelligence revolution. Acquire.AI stands poised to transform industries by assisting businesses in recognizing, prioritizing, and implementing tailored solutions for improved business efficiency, robust growth, and enhanced customer experiences.The global BPO business analytics market is highly fragmented in nature owing to the presence of more players in the market. They are adopting various strategies such as technological advancement, mergers & acquisitions, partnership, and collaboration, etc. to remain competitive in the market.
Regulatory Insights:
Mandatory outsourcing requirements for the European big data services market are divided into legal and non-legal requirements. Legal requirements include legislation about copyright as well as personal data protection. Privacy is highly protected in Europe, via the General Data Protection Regulation (GDPR) and the ePrivacy Directive. Non-legal requirements mainly deal with security.
Influencing Trend:
Modernization of Business Environments and Growing Need for Customer Analytics
Market Growth Drivers:
Increasing Volume of Enterprise Data and Rising Cloud-Based Deployment among SMEs
Challenges:
Data Security and Privacy Concerns Associated to Advanced Analytics
Restraints:
Technical Complexity Involved With Advanced Analytics Tools and Lack of Skilled Professionals to Adopt New Technology
Opportunities:
Growing Demand for Advanced Analytics Solution to Counter Big Data Challenges and Increasing Adoption of Salesforce Advanced Analytics Tools in Organizations
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mainly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the market's growth. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Data Sources of BPO Business Analytics Market Study
Primary Collection: InMail, LinkedIn Groups, Survey Monkey, Google, and Other professional Forums are some of the mediums utilized to gather primary data through key industry participants and appointees, subject-matter experts, C-level executives of BPO Business Analytics Industry, among others including independent industry consultants, experts, to obtain and verify critical qualitative commentary and opinion and quantitative statistics, to assess future market prospects.
The primary interviews and data collected as per the below protocols: By Designation: C-Level, D-Level, Others
By Company Type: Tier 1, Tier 2, Tier 3
Secondary Data Sources such as Annual reports, Press releases, Analyst meetings, Conference calls, Investor presentations, Management statements, and SEC filings of BPO Business Analytics players along with Regulatory Sites, Association, World bank, etc were used as sources secondary set of data.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, BPO Business Analytics Study Sheds Light on
The BPO Business Analytics Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the BPO Business Analytics industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where BPO Business Analytics industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.