Business Analytics BPO Services Industry Analysis in Korea
Demand Forecast for Business Analytics BPO Services in Korea, by Marketing and Sales Analytics Services, 2023 to 2033
A shift toward Cloud-based Solutions and the Adoption of AI and ML to Boost Business Analytics BPO Services’ Demand in Korea. Explore Key Trends in Jeju, South Gyeongsang, and Other Cities.
Analytical Report of Business Analytics BPO Services in Korea from (2023 to 2033)
The adoption of business analytics BPO services in Korea is likely to exhibit a CAGR of 11.7% through 2033. Business analytics BPO service in Korea is expected to reach a US$ 250.2 million valuation in 2023. Business analytics adoption has been on the rise in various industries, which is contributing to the global BPO business analytics industry's growth.
A growing number of small and medium-sized enterprises are making use of business analytics, coupled with the increasing number of businesses starting up. The availability of reliable, scalable, and agile cloud-based BPO services has also contributed to the growth of the industry. By 2033, implementing business analytics BPO services in Korea is likely secure US$ 745.0 million.
Key Highlights to Understand Emerging and Fast-growing Opportunities
Data analytics is becoming increasingly important to decision-makers across various industries.
A shift from traditional BPO services to advanced analytics is increasingly creating revenues in the ecosystem.
The geographic reach of BPO providers is expanding. With this expansion, the company aims to serve clients from various regions and provide cost-effective services.
Data security and regulatory compliance are crucial as the importance of data in decision-making increases.
A growing number of BPO providers are offering customized analytics solutions tailored to specific industries. By addressing the unique needs of their clients, they are able to meet their objectives.
Attributes
Details
Industry Size of Korea in 2023
US$ 250.2 million
Expected Industry Size of Korea by 2033
US$ 745.0 million
Forecasted CAGR between 2023 to 2033
11.7%
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Key Trends Influencing Demand for Business Analytics BPO Services in Korea
The growing number of service-based industries has led to an increase in business analytics BPO services.
As Korea's demand for business analytics BPO services increases, analytics services tailored to particular industries, such as finance, healthcare, and e-commerce, are becoming more common.
Implementation of advanced technologies and the use of the Internet of Things are increasing the demand for business analytics BPO services.
Social media data analysis can reveal valuable insights into consumers' sentiments, brand perceptions, and emerging preferences.
Identifying cost-saving initiatives through financial data analysis, evaluating investments, and complying with regulations can significantly increase demand.
Comparative View of Adjacent Business Analytics BPO Services in Key Economies
The table below compares the demand for business analytics BPO services in Japan, Western Europe, and Korea.
Demand for Business Analytics BPO Services in Korea:
Attributes
Demand for Business Analytics BPO Services in Korea
CAGR from 2023 to 2033
11.7%
Valuation for 2023
US$ 250.2 million
Key Trend
AI, machine learning, and advanced analytics are increasingly being incorporated into BPO services.
Key Opportunities
Analysis of data by BPO providers can improve the management of inventories and logistics of supply chains.
Industry Analysis of Business Analytics BPO Services in Western Europe:
Attributes
Industry Analysis of Business Analytics BPO Services in Western Europe
CAGR from 2023 to 2033
11.9%
Industry Size in 2023
US$ 1,232.3 million
Key Trends
Increasing amounts of data are being processed, so security and privacy are becoming more important.
Key Opportunities
Clients can benefit from BPO services by identifying fraud activities and developing fraud prevention strategies.
Demand for Business Analytics BPO Services in Japan:
Attributes
Demand for Business Analytics BPO Services in Japan
CAGR from 2023 to 2033
19.2%
Valuation in 2023
US$ 506.1 million
Key Trend
BPO providers for a variety of industries are customizing analytics solutions.
Key Opportunities
Healthcare organizations can benefit from BPO providers' analysis of patient data, streamlined operations, and improved patient care.
Find your sweet spots for generating winning opportunities in this market.
City-wise Insights
Cloud Technology and Innovations to Boost Business Analytics BPO Services in South Gyeongsang
Businesses in South Gyeongsang can benefit from BPO providers' expertise in analyzing datasets to discover trends and patterns. As a result, businesses can make better decisions based on data and optimize their processes. To make informed marketing and product development decisions, BPO companies study consumer behavior, industry trends, and competitors.
A significant increase in demand is attributed to the adoption of advanced technologies and cloud-based solutions. BPO providers to optimize supply chain operations can analyze data from inventory, logistics, and suppliers. In addition to BPO services providing businesses with data insights, these tools and solutions are often integrated with business intelligence tools and solutions.
Technology Innovation and Digitization to Increase the Need for Business Analytics BPO Services in North Jeolla
With peripheral services like business analytics outsourced, North Jeolla is going to focus on its core competencies, such as economic development, infrastructure, and public services. A growing number of organizations are recognizing the importance of leveraging data for innovation, growth, and competitive advantages, creating a growing demand for business analytics BPO services. Demand is likely to grow in emerging economies as digitalization and analytics adoption increase.
Rising Industrialization in South Jeolla to Boost Business Analytics BPO Services Growth
The demand for business analytics BPO services in South Jeolla has grown significantly over the past few years. As industrialization accelerates and the number of start-ups investing in business analytics solutions increases, this industry is expected to outpace growth in other geographical areas within the BPO business analytics industry.
Category-wise insights
Manufacturing Industries Remains a Prominent Business Analytics BPO Services Type
Manufacturing industries can benefit from this type of business analytics BPO, which helps them gain insights, streamline business processes, and make informed decisions based on data. With a 24.3% revenue share, manufacturing is likely to dominate the business analytics BPO services industry in Korea in 2023.
Business analytics service providers can offer insights and information tailored to manufacturing challenges and requirements. Business analytics BPO services can benefit manufacturing companies by leveraging global resources and expertise. This allows their operations to expand internationally, giving them access to global talent, affordable solutions, and cost-efficient resources.
Korea Business Analytics BPO Services Based on Industry Type
Manufacturing
Industry Share in 2023
24.3%
Large Enterprises Industries to Fuel Korea Business Analytics BPO Services
Data is becoming increasingly important in helping large enterprises make informed business decisions. Business analytics BPO services contribute to actionable insights based on data gathering, analysis, and interpretation. In 2023, large enterprises are expected to have an industry share of 53.6%.
The sheer amount of data generated and collected by businesses from various sources can make data management and analysis challenging. Complex data analytics can be handled by business process outsourcing companies with specialized expertise and technology.
Analyzing business data can be outsourced at a cost-effective rate. The development and maintenance of an analytics team and infrastructure in-house can be avoided by large enterprises. Enterprises can rely on experts to analyze and generate insights from their data by outsourcing analytics.
Korea Business Analytics BPO Services Based on Enterprise Size
Large Enterprise
Industry Share in 2023
53.6%
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Competitive Landscape
With their expertise, resources, and commitment to sustainability, companies providing business analytics BPO services support expansion. Players in the industry strive to gain the leading industry share by leveraging cutting-edge technology.
In addition to collaborating with influential social media users, suppliers of Business Analytics BPO Services maintain long-term relationships with them to capitalize on future business opportunities. Many large companies engage in mergers & acquisitions as a means of expanding their geographical reach and boosting revenue.
Korea business analytics BPO service industry key players include
Samsung SDS
LG CNS
KT Corp
NICE Information Service
SK C&C (SK Holdings C&C)
IBM Korea
NTT Data Korea
Hanwha Systems
Daou Tech Inc
CJ OliveNetworks
Recent Developments Observed in the Korea Business Analytics BPO Service Industry
Samsung SDS provides IT and business process outsourcing services in South Korea and around the world.
LG CNS, a key player in Korea’s BPO and IT services sector, offers a range of services including business analytics.
KT Corp, formerly known as Korea Telecom, provides data analytics and business intelligence services to businesses in South Korea.
Scope of the Report
Attributes
Details
Estimated Industry Size in 2023
US$ 250.2 million
Projected Industry Valuation by 2033
US$ 745.0 million
Value-based CAGR 2023 to 2033
11.7%
Historical Analysis of the Business Analytics BPO Service in Korea
2018 to 2022
Demand Forecast for Business Analytics BPO Service in Korea
2023 to 2033
Report Coverage
Industry Size, Industry Trends, Analysis of key Factors Influencing Business Analytics BPO Service in Korea Insights on Global Players and their Industry Strategy in Korea, Ecosystem Analysis of Local and Regional Korea Providers
Key Cities Analyzed While Studying Opportunities in Business Analytics BPO Service in Korea
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Key Companies Profiled
Samsung SDS
LG CNS
KT Corp
NICE Information Service
SK C&C (SK Holdings C&C)
IBM Korea
NTT Data Korea
Hanwha Systems
Daou Tech Inc.
CJ OliveNetworks
Key Segments
By Services:
Data Analytics & Visualization Services
Risk Analytics Services
Marketing & Sales Analytics Services
Supply Chain Analytics Services
Financial Analytics Services
Others
By Enterprise Size:
Small and Medium Enterprises (SMEs)
Large Enterprises
By Industry:
BFSI
Manufacturing
Retail
IT & Telecom
Government
Healthcare
Travel & Hospitality
Others
By Region/City:
South Gyeongsang
North Jeolla
South Jeolla
Jeju
Frequently Asked Questions
What is the Current Size of the Business Analytics BPO Services in Korea?
The business analytics BPO services in Korea is valued at US$ 250.2 million in 2023.
By 2033, what will be the Overall Value of Business Analytics BPO Services in Korea?
By 2033, Korea’s business analytics BPO services revenue is estimated to reach a value of US$ 745.0 million.
What is the Anticipated Growth rate of Business Analytics BPO Services in Korea?
Between 2023 and 2033, business analytics BPO services is expected to develop at an 11.7% CAGR in Korea.
Which Enterprise Type of Business Analytics BPO Services in Korea is likely to Dominate?
Based on enterprise type, large enterprises are expected to dominate the industry.
Table of Content
1. Executive Summary
1.1. Korea Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.1.1. Drivers
3.1.2. Restraints
3.1.3. Opportunity
3.1.4. Trends
3.2. Scenario Forecast
3.2.1. Demand in Optimistic Scenario
3.2.2. Demand in Likely Scenario
3.2.3. Demand in Conservative Scenario
3.3. Opportunity Map Analysis
3.4. Investment Feasibility Matrix
3.5. PESTLE and Porter’s Analysis
3.6. Regulatory Landscape
3.6.1. By Key Regions
3.7. Regional Parent Market Outlook
4. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Million) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Million) Projections, 2023 to 2033
4.2.1. Y-o-Y Growth Trend Analysis
4.2.2. Absolute $ Opportunity Analysis
5. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Services
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Million) Analysis By Services, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Services, 2023 to 2033
5.3.1. Data Analytics & Visualization Services
5.3.2. Risk Analytics Services
5.3.3. Marketing & Sales Analytics Services
5.3.4. Supply Chain Analytics Services
5.3.5. Financial Analytics Services
5.3.6. Others
5.4. Y-o-Y Growth Trend Analysis By Services, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Services, 2023 to 2033
6. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Enterprise Size
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Million) Analysis By Enterprise Size, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Enterprise Size, 2023 to 2033
6.3.1. SMEs
6.3.2. Large Enterprises
6.4. Y-o-Y Growth Trend Analysis By Enterprise Size, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Enterprise Size, 2023 to 2033
7. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Industry
7.1. Introduction / Key Findings
7.2. Historical Market Size Value (US$ Million) Analysis By Industry, 2018 to 2022
7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Industry, 2023 to 2033
7.3.1. BFSI
7.3.2. Manufacturing
7.3.3. Retail
7.3.4. IT & Telecom
7.3.5. Government
7.3.6. Healthcare
7.3.7. Travel & Hospilatility
7.3.8. Others
7.4. Y-o-Y Growth Trend Analysis By Industry, 2018 to 2022
7.5. Absolute $ Opportunity Analysis By Industry, 2023 to 2033
8. Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033, By Region
8.1. Introduction
8.2. Historical Market Size Value (US$ Million) Analysis By Region, 2018 to 2022
8.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2023 to 2033
8.3.1. South Gyeongsang
8.3.2. North Jeolla
8.3.3. South Jeolla
8.3.4. Jeju
8.3.5. Rest of Korea
8.4. Market Attractiveness Analysis By Region
9. South Gyeongsang Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
9.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
9.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
9.2.1. By Services
9.2.2. By Enterprise Size
9.2.3. By Industry
9.3. Market Attractiveness Analysis
9.3.1. By Services
9.3.2. By Enterprise Size
9.3.3. By Industry
9.4. Key Takeaways
10. North Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
10.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
10.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
10.2.1. By Services
10.2.2. By Enterprise Size
10.2.3. By Industry
10.3. Market Attractiveness Analysis
10.3.1. By Services
10.3.2. By Enterprise Size
10.3.3. By Industry
10.4. Key Takeaways
11. South Jeolla Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
11.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
11.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
11.2.1. By Services
11.2.2. By Enterprise Size
11.2.3. By Industry
11.3. Market Attractiveness Analysis
11.3.1. By Services
11.3.2. By Enterprise Size
11.3.3. By Industry
11.4. Key Takeaways
12. Jeju Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
12.2.1. By Services
12.2.2. By Enterprise Size
12.2.3. By Industry
12.3. Market Attractiveness Analysis
12.3.1. By Services
12.3.2. By Enterprise Size
12.3.3. By Industry
12.4. Key Takeaways
13. Rest of Korea Industry Analysis and Outlook 2018 to 2022 and Forecast 2023 to 2033
13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2018 to 2022
13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2023 to 2033
13.2.1. By Services
13.2.2. By Enterprise Size
13.2.3. By Industry
13.3. Market Attractiveness Analysis
13.3.1. By Services
13.3.2. By Enterprise Size
13.3.3. By Industry
13.4. Key Takeaways
14. Market Structure Analysis
14.1. Competition Dashboard
14.2. Competition Benchmarking
14.3. Market Share Analysis of Top Players
14.3.1. By Regional
14.3.2. By Services
14.3.3. By Enterprise Size
14.3.4. By Industry
15. Competition Analysis
15.1. Competition Deep Dive
15.1.1. IBM Corporation
15.1.1.1. Overview
15.1.1.2. Product Portfolio
15.1.1.3. Profitability by Market Segments
15.1.1.4. Sales Footprint
15.1.1.5. Strategy Overview
15.1.1.5.1. Marketing Strategy
15.1.2. Accenture
15.1.2.1. Overview
15.1.2.2. Product Portfolio
15.1.2.3. Profitability by Market Segments
15.1.2.4. Sales Footprint
15.1.2.5. Strategy Overview
15.1.2.5.1. Marketing Strategy
15.1.3. Wipro Limited
15.1.3.1. Overview
15.1.3.2. Product Portfolio
15.1.3.3. Profitability by Market Segments
15.1.3.4. Sales Footprint
15.1.3.5. Strategy Overview
15.1.3.5.1. Marketing Strategy
15.1.4. Capgemini
15.1.4.1. Overview
15.1.4.2. Product Portfolio
15.1.4.3. Profitability by Market Segments
15.1.4.4. Sales Footprint
15.1.4.5. Strategy Overview
15.1.4.5.1. Marketing Strategy
15.1.5. Infosys Limited
15.1.5.1. Overview
15.1.5.2. Product Portfolio
15.1.5.3. Profitability by Market Segments
15.1.5.4. Sales Footprint
15.1.5.5. Strategy Overview
15.1.5.5.1. Marketing Strategy
15.1.6. Tata Consultancy Services (TCS)
15.1.6.1. Overview
15.1.6.2. Product Portfolio
15.1.6.3. Profitability by Market Segments
15.1.6.4. Sales Footprint
15.1.6.5. Strategy Overview
15.1.6.5.1. Marketing Strategy
15.1.7. HCL Technologies
15.1.7.1. Overview
15.1.7.2. Product Portfolio
15.1.7.3. Profitability by Market Segments
15.1.7.4. Sales Footprint
15.1.7.5. Strategy Overview
15.1.7.5.1. Marketing Strategy
15.1.8. Cognizant
15.1.8.1. Overview
15.1.8.2. Product Portfolio
15.1.8.3. Profitability by Market Segments
15.1.8.4. Sales Footprint
15.1.8.5. Strategy Overview
15.1.8.5.1. Marketing Strategy
15.1.9. Tech Mahindra Limited
15.1.9.1. Overview
15.1.9.2. Product Portfolio
15.1.9.3. Profitability by Market Segments
15.1.9.4. Sales Footprint
15.1.9.5. Strategy Overview
15.1.9.5.1. Marketing Strategy
15.1.10. Genpact
15.1.10.1. Overview
15.1.10.2. Product Portfolio
15.1.10.3. Profitability by Market Segments
15.1.10.4. Sales Footprint
15.1.10.5. Strategy Overview
15.1.10.5.1. Marketing Strategy
15.1.11. WNS Global Services
15.1.11.1. Overview
15.1.11.2. Product Portfolio
15.1.11.3. Profitability by Market Segments
15.1.11.4. Sales Footprint
15.1.11.5. Strategy Overview
15.1.11.5.1. Marketing Strategy
15.1.12. EXL Service
15.1.12.1. Overview
15.1.12.2. Product Portfolio
15.1.12.3. Profitability by Market Segments
15.1.12.4. Sales Footprint
15.1.12.5. Strategy Overview
15.1.12.5.1. Marketing Strategy
15.1.13. Firstsource Solutions Limited
15.1.13.1. Overview
15.1.13.2. Product Portfolio
15.1.13.3. Profitability by Market Segments
15.1.13.4. Sales Footprint
15.1.13.5. Strategy Overview
15.1.13.5.1. Marketing Strategy
15.1.14. Concentrix
15.1.14.1. Overview
15.1.14.2. Product Portfolio
15.1.14.3. Profitability by Market Segments
15.1.14.4. Sales Footprint
15.1.14.5. Strategy Overview
15.1.14.5.1. Marketing Strategy
15.1.15. ScienceSoft
15.1.15.1. Overview
15.1.15.2. Product Portfolio
15.1.15.3. Profitability by Market Segments
15.1.15.4. Sales Footprint
15.1.15.5. Strategy Overview
15.1.15.5.1. Marketing Strategy
16. Assumptions & Acronyms Used17. Research Methodology
