South Korea’s business analytics outsourcing to hit $745Mn by 2033
SEOUL, SOUTH KOREA — The business analytics Business Process Outsourcing (BPO) services market in South Korea is expected to reach US$745 million by 2033, reflecting a compound annual growth rate (CAGR) of 11.7% between 2023 to 2033.
According to a report by Future Market Insights (FMI), this rapid expansion is fueled by a growing demand for advanced data analytics and outsourcing solutions among South Korean companies seeking enhanced data-driven decision-making capabilities and competitive advantages.
The report also highlights small and medium-sized enterprises’ surging adoption of analytics services, boosted by an influx of startups leveraging accessible, scalable, and agile cloud-based outsourcing platforms.
The manufacturing sector is expected to dominate market share this year at 24.3% as manufacturers increasingly apply analytics insights to optimize operations and supply chains.
FMI’s report also underscores the pivotal role of South Korea’s analytics outsourcing industry in empowering businesses to extract value from exponential data growth through actionable intelligence.
“Our comprehensive analysis of the business analytics BPO services industry in Korea unveils a dynamic landscape marked by robust growth and technological advancements,” said FMI Managing Director and Co-Founder Sudip Saha.
As digital transformation accelerates across sectors, generating swelling data volumes, the need for advanced analytics will persist, cementing South Korea’s status as a major global analytics BPO hub.
