Decision makers worldwide are under tremendous pressure to optimize their business operations, acquire new customers, and increase their market share, thereby driving long-term profitability. Business analytics is used for strategic decision making, enabling organizations to understand their customers, optimize operational cost, and improve business efficiency and competitiveness. The demand for regulatory compliance and transparency is high across sectors such as BFSI and healthcare. Enterprises in these sectors need to comply with regulatory norms such as Basel III and Solvency II. Business analytics outsourcing helps enterprises addresses such compliance requirements by increasing their transparency.
The adoption of systems such as ERP, CRM, SCM, and SFA by enterprises and the industrial Internet revolution have led to the generation of large volumes of data. Moreover, with the increased adoption of big data, the use of business analytics has also surged with a greater need to understand data. Data analytics tools and technologies help derive powerful insights and make efficient use of big data. This helps organizations make strategic decisions based on actionable insights for their business activities.
Scope of the Report:
This report studies the BPO Business Analytics market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the BPO Business Analytics market by product type and applications/end industries.
Global BPO business analytics industry is highly fragmented, industry vendors are mostly in the India and USA. The market is extremely competitive with vendors competing to gain a greater market share. Players in the market are constantly looking for ways to increase their market share through mergers and acquisitions and partnerships. They are also focusing on differentiating themselves by offering mobile-enabled business analytics solutions, predictive analytics, and cloud-based business analytics services. Among them, Accenture is the world leading player in the global BPO business analytics market with the market share of 17.5% in 2015, in terms of revenue.
The BFSI end user segment led the market during 2015, accounting for a market share of more than 23.97%. BFSI organizations worldwide are reaping benefits of business analytics to enhance business productivity and gain competitive advantage. The generation of large volumes of transactional data in this segment is driving the demand for business analytics. Moreover, the growing need to comply with regulatory norms and make them more transparent has propelled the demand for analytics in the BFSI sector.
The global BPO Business Analytics market is valued at 16500 million USD in 2017 and is expected to reach 36900 million USD by the end of 2023, growing at a CAGR of 14.3% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of BPO Business Analytics.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers
Market Segment by Regions, regional analysis covers
North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers
Sales & Marketing
Market Segment by Applications, can be divided into