The global business process outsourcing (BPO) business analytics market will generate revenues of $22 billion by 2020, according to a new market research report from Technavio.
Business analytics outsourcing helps enterprises address compliance requirements by increasing their transparency, and increasing their operational efficiency, the firm says. The Americas account for 50% of the total market share, with the region seeing increased demand for business analytics outsourcing from sectors such as government and healthcare.
“Enterprises are increasingly adopting systems such as enterprise resource planning (ERP), customer relationship management (CRM), supply chain management (SCM) and sales force automation (SFA), which has generated large volumes of data,” Amit Sharma, lead analyst, ICT at Technavio, said in a statement.
“With the increased adoption of big data, the use of business analytics has also surged with a greater need to understand data,” Sharma said. “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.”
Organizations are implementing mobile-enabled business analytics, “owing to tremendous market pressures such as the need to improve employee productivity, enhance customer service, achieve higher business process efficiency, and provide real-time data access to faster and better decision making processes,” the report says.
The leading vendors in the global BPO business analytics market include Accenture, Capgemini, Genpact, IBM and TCS.
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