The global business process outsourcing market size was valued in 2020 and is expected to register a compound annual growth rate from 2021 to 2028. The market is expected to benefit from the increasing focus of organizations on improving business agility, to survive the constantly changing business dynamics, and ways of improving efficiency while decreasing operating costs and emphasizing core competencies. Moreover, organizations are increasingly focusing on reducing the cost of conducting business for accessing global resources to meet the growing industry demands. As a result, several organizations across the globe are leveraging the benefits of business process outsourcing (BPO) services and are focusing on core competencies, thereby generating avenues for market growth.
| Report Metric | Details |
| Market size available for years | 2023–2030 |
| Base year considered | 2023 |
| Forecast period | 2024–2030 |
| Forecast unit | Value (USD Million) |
| Segments covered | Service Type , Industry Vertical and Region |
| Regions covered | North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered | Accenture; Amdocs; Infosys Limited (Infosys BPM); HCL Technologies Limited; CBRE Group Inc.; NCR Corporation; Wipro Limited; Capgemini; TTEC Holdings, Inc.; Sodexo. |
The covid-19 Impact on Business Process Outsourcing (BPO) Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor Industry. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor Industry. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Business Process Outsourcing (BPO) Market Segment Overview
Finance & Accounting segment dominated the market in 2020 with a revenue share extraordinary thirty first. The section is anticipated to retain its dominance registering the quickest CAGR over the forecast amount. The high share of the this section is attributed to the increasing variety of service centres across the world that require each on-line also as offline technical support. Client service-based BPO firm’s square measure specialised in handling client necessities and queries that square measure generated through emails, phone calls, chats, social media platforms, and different channels.
The IT & telecommunication segment dominated the market in 2020 with a revenue share exceeding 34%. The segment is expected to register a significant CAGR during the forecast period. The segment growth is attributed to a rise in number of IT companies and rapid industrialization worldwide. Telecom companies across the globe are outsourcing several telecommunications processes to reduce their overall capital expenditure. Telecom companies outsource business functions, ranging from call centre outsourcing to billing operations to finance and accounting. Apart from helping reduce their capital expenses, outsourcing allow telecom companies to create a flexible strategy of acquiring and retaining more customers, optimizing current investments, accessing specialized resources, and managing cost pressures.
Market Analysis, Insights and Forecast – By Service Type
· Finance & Accounting
· Human Resources
· Knowledge Process Outsourcing
· Procurement & Supply Chain
· Customer Services
· Others
Market Analysis, Insights and Forecast – By Industry Vertical
· Banking, Financial Services, and Insurance (BFSI)
· Manufacturing
· IT & Telecommunication
· Retail
· Others
Business Process Outsourcing (BPO) Market Regional Overview
On the basis of regional analysis, the worldwide Business Process Outsourcing (BPO) Market is assessed into North America, Europe, Asia Pacific, and remainder of the planet. The most important share within the market are going to be dominated by North America. Countries like China, India and the Philippines are among the fastest-growing economies owing to the convenience of the low-cost talent pool of IT process outsourcing.
Business Process Outsourcing (BPO) Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Business Process Outsourcing (BPO) Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Business Process Outsourcing (BPO) are highlighted below.
· In 2022, Genpact Ltd, the business process outsourcing (BPO) company listed on the new york stock exchange (NYSE), bought Milpitas, California-based information analytics firm Enquero inc. within the 14th acquisition.
Business Process Outsourcing (BPO) Market, Key Players
· Accenture
· Amdocs
· Infosys Limited (Infosys BPM)
· HCL Technologies Limited
· CBRE Group, Inc.
· NCR Corporation
· Wipro Limited
· Capgemini
· TTEC Holdings, Inc.
· Sodexo
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Business Process Outsourcing (BPO) market during the forecast period?
Q2. Which segment is projected to hold the largest share in the Business Process Outsourcing (BPO) Market?
Q3. What are the driving factors for the Business Process Outsourcing (BPO) market?
Q4. Which Segments are covered in the Business Process Outsourcing (BPO) market report?
Q5. Which are the prominent players offering Business Process Outsourcing (BPO)?
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Business Process Outsourcing (BPO) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Service Type
- 5.2.1. Finance & Accounting
- 5.2.2. Human Resources
- 5.2.3. Knowledge Process Outsourcing
- 5.2.4. Procurement & Supply Chain
- 5.2.5. Customer Services
- 5.2.6. Others
- 5.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 5.3.1. Banking, Financial Services, and Insurance (BFSI)
- 5.3.2. Manufacturing
- 5.3.3. IT & Telecommunication
- 5.3.4. Retail
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By Region
- 5.4.1. North America
- 5.4.2. Europe
- 5.4.3. Asia Pacific
- 5.4.4. Latin America, Middle East, and Africa
6. North America Business Process Outsourcing (BPO) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Service Type
- 6.2.1. Finance & Accounting
- 6.2.2. Human Resources
- 6.2.3. Knowledge Process Outsourcing
- 6.2.4. Procurement & Supply Chain
- 6.2.5. Customer Services
- 6.2.6. Others
- 6.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 6.3.1. Banking, Financial Services, and Insurance (BFSI)
- 6.3.2. Manufacturing
- 6.3.3. IT & Telecommunication
- 6.3.4. Retail
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By Country
- 6.4.1. U.S.
- 6.4.2. Canada
7. Europe Business Process Outsourcing (BPO) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Service Type
- 7.2.1. Finance & Accounting
- 7.2.2. Human Resources
- 7.2.3. Knowledge Process Outsourcing
- 7.2.4. Procurement & Supply Chain
- 7.2.5. Customer Services
- 7.2.6. Others
- 7.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 7.3.1. Banking, Financial Services, and Insurance (BFSI)
- 7.3.2. Manufacturing
- 7.3.3. IT & Telecommunication
- 7.3.4. Retail
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By Country
- 7.4.1. UK
- 7.4.2. Germany
- 7.4.3. France
- 7.4.4. Italy
- 7.4.5. Spain
- 7.4.6. Russia
- 7.4.7. Rest of Europe
8. Asia Pacific Business Process Outsourcing (BPO) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Service Type
- 8.2.1. Finance & Accounting
- 8.2.2. Human Resources
- 8.2.3. Knowledge Process Outsourcing
- 8.2.4. Procurement & Supply Chain
- 8.2.5. Customer Services
- 8.2.6. Others
- 8.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 8.3.1. Banking, Financial Services, and Insurance (BFSI)
- 8.3.2. Manufacturing
- 8.3.3. IT & Telecommunication
- 8.3.4. Retail
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By Country
- 8.4.1. China
- 8.4.2. India
- 8.4.3. Japan
- 8.4.4. Australia
- 8.4.5. South East Asia
- 8.4.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Business Process Outsourcing (BPO) Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Service Type
- 9.2.1. Finance & Accounting
- 9.2.2. Human Resources
- 9.2.3. Knowledge Process Outsourcing
- 9.2.4. Procurement & Supply Chain
- 9.2.5. Customer Services
- 9.2.6. Others
- 9.3. Market Analysis, Insights and Forecast – By Industry Vertical
- 9.3.1. Banking, Financial Services, and Insurance (BFSI)
- 9.3.2. Manufacturing
- 9.3.3. IT & Telecommunication
- 9.3.4. Retail
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By Country
- 9.4.1. Brazil
- 9.4.2. Saudi Arabia
- 9.4.3. UAE
- 9.4.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Accenture
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Amdocs
- 10.6. Infosys Limited (Infosys BPM)
- 10.7. HCL Technologies Limited
- 10.8. CBRE Group, Inc.
- 10.9. NCR Corporation
- 10.10. Wipro Limited
- 10.11. Capgemini
- 10.12. TTEC Holdings, Inc.
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
