PUBLISHER: IMARC | PRODUCT CODE: 1660721
PUBLISHER: IMARC | PRODUCT CODE: 1660721
The global BPO business analytics market size reached USD 32.8 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 154.2 Billion by 2033, exhibiting a growth rate (CAGR) of 17.83% during 2025-2033. The rising demand for data-driven decision making, ongoing technological advancements, growing focus on customer experience and the surging digital transformation are primarily driving the market's growth.
Business analytics refers to a data management solution that enables organizations to comprehend potential customers, make strategic decisions, optimize operational costs, and improve business proficiency and competitiveness. The widespread adoption of advanced technological solutions, such as the internet of things (IoT), machine learning and artificial intelligence (AI), in business processes, has increased the utilization of business analytics to manage large volume and complexity of data sets. Nowadays, organizations are subcontracting their analytics functions to business process outsourcing (BPO) companies or third-party service providers as it helps them to minimize cost on hiring in-house staff and focus on their core business operations.
The rising adoption of business analytics in various industry verticals represents one of the key factors spurring the global BPO business analytics market growth. Apart from this, the increasing utilization of business analytics across small and medium-sized enterprises (SMEs), coupled with the escalating number of business start-ups, is bolstering the market growth. Furthermore, 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. Moreover, due to the sudden spread of the coronavirus disease (COVID-19), there is a rise in the demand for business analytics in the healthcare industry for efficiently managing the huge volume of hospital data, such as the record of patients and availability of beds. In addition to this, several BPO service providers are adopting different strategies to offer their services online, which is creating a positive outlook for the market.
The report has also analysed the competitive landscape of the market with some of the key players being Accenture PLC, Capgemini SE, Cognizant Technology Solutions, Exlservice Holdings Inc., Genpact Limited, International Business Machines Corporation, Infosys Limited, Mu Sigma Inc., NTT DATA Corporation (Nippon Telegraph and Telephone), TATA Consultancy Services Limited (Tata Sons Private Limited), Tech Mahindra Limited (Mahindra Group), Wipro Limited and WNS Global Services.