The cloud-based BPO market in APAC is forecast to grow at a CAGR of 14.27% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Growing popularity of data analytics will be a key trend for market growth. BPO services are gradually moving up the value chain with a sharper focus on delivering strategic business solutions.
Through the use of analytics, BPO companies can deliver solutions that not only boost operations but also reduce costs. The huge volumes of transactional data can be analyzed and mined to drive meaningful insights that drive business decisions. The analysis of transactional data allows clients to claim maximum discounts from their providers (paid-within-terms invoice processing), improve working capital management, and boost customer acquisition, satisfaction, and retention.
According to the report, one of the key drivers for market growth will be increased need for cost-effective business processes. SMEs in India, Indonesia, Malaysia, the Philippines, Thailand, and Vietnam are price-sensitive, have limited budgets, and few staff members to configure and maintain IT products and business process services. SMEs are increasingly outsourcing back-office operations that would otherwise require more infrastructure, capital investment, and human resources. Outsourcing these functions enables these firms to cut costs and apply lean concept in their operations.
What will the market size be in 2020 and what will the growth rate be?
What are the key market trends?
What is driving this market?
What are the challenges to market growth?
Who are the key vendors in this market space?
What are the market opportunities and threats faced by the key vendors?
What are the strengths and weaknesses of the key vendors?