BPO Business Analytics Market Size, Share, Growth Analysis, By Components(Software and Services), By Deployment(Cloud-Based and On-Premises), By Organization Size(SMEs, Large Enterprises), By Application(Finance & Accounting, Human Resources), By Vertical(BFSI, IT & Telecommunication) - Industry Forecast 2024-2031

BPO Business Analytics Market size was valued at USD 16.8 billion in 2019 and is poised to grow from USD 20.51 billion in 2023 to USD 71.6 billion by 2031, growing at a CAGR of 22.06% in the forecast period (2024-2031).

BPO is the process of contracting with the outside service providers to handle the responsibilities and operations of many business functions. These services are in high demand due to their benefits, including increased freedom, lower costs, and higher service quality. Some of the key factors expected to drive growth of the global BPO business analytics market during the forecast period are the increasing adoption of BPO analytics among various organisations due to its features that prove measurable results, offer dependable service level agreements (SLAs), and offer experienced resources at affordable pricing.

BFSI, healthcare, telecoms, and retail are utilizing BPO analytics increasingly often. Due to increasing industrialization and growing start-ups, BPO services are being utilized more and more often. Since analytics is not only used by marketing IT and big data companies, new enterprises are investing in business analytics solutions. Several FMCG businesses are applying them. Businesses across a variety of industries are using trying to cut tools and techniques for statistical analysis thanks to business analytics applications in the Bpo industry.

BPO business analytics is starting to be adopted more widely since it can meet needs like maximizing customer pleasure, effective efficiency, improved worker satisfaction, and cost reduction across operations in a company. The global BPO business analytics market is anticipated to grow faster as a result of these factors in the near future. Small and medium-sized companies, however, may be hindered in their capacity to enter new markets by the high cost of BPO business analytics services and solutions.

US BPO Business Analytics Market is poised to grow at a sustainable CAGR for the next forecast year.