Business Process Outsourcing (BPO) Services Market Snapshot
Market Research Future (MRFR), in its latest Business Process Outsourcing (BPO) Services Market 2020, reveals multiple influencing factors of the market. A complete detail of the effect of COVID 19 on the business outsourcing service market is supplemented along with the report. As per MRFR analysis, the business process outsourcing market is expected to rise at 10.8% CAGR in the analysis period 2019–2024. On the conclusion of the review period, the business process outsourcing service market can value at USD 335.2 Billion.
The rise in exercising of BPO services across the booming IT and telecommunication sector can promote the expansion of the BPO service market across the analysis period. The increase in investments made by different enterprises in outsourcing business processes can support the rise of the BPO services market. On the other side, the increase in issues associated with data privacy and integrity can pose major threat to the expansion of the global business process outsourcing (BPO) market rise.
Business Process Outsourcing (BPO) Services Market Competitive Analysis
Infosys BPM Limited, Accenture PLC, Capgemini, ADP, LLC, Conduent Inc., WNS (Holdings) Ltd, IBM Corporation, TTEC Holdings, Inc. Tata Consultancy Services Limited (TCS), and Conneqt Business Solution Limited are some prominent players in the Business Process Outsourcing (BPO) global Market as revealed by MRFR.
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Business Process Outsourcing (BPO) Services Market Segmental Analysis
The segment evaluation of the Global Business Process Outsourcing (BPO) Services Market is done by Organization Size, Type, Deployment, and Vertical.
The type based segments of the BPO services market are back office outsourcing, finance & accounting outsourcing, procurement outsourcing, human resource & recruitment outsourcing, e-commerce support services, IT outsourcing, training & development outsourcing, and others. The IT outsourcing segment can rise at 9.4% CAGR and generate about USD 82.99 billion by 2024. The finance & accounting outsourcing segment can rise at 10.0% CAGR and earn about USD 30.58 Billion in the years to come. The procurement outsourcing segment can rise at 17.1% CAGR by 2024.
The deployment based segments of the market are cloud and on-premise. The on-premise segment can rise at 7.5% CAGR and value above USD 107.59 billion in the years to come. The cloud segment can generate USD 78.63 billion at 14.6% CAGR across the analysis period.
The organization size based segments of the business process outsourcing market are SME enterprises and large enterprises. The large enterprise segment can rise at 8.5% CAGR to earn USD 126.62 billion revenue for the global market. The SME segment can valued at USD 59.60 Bn at 14.9% CAGR across the review period.
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The vertical based segments of the market are IT and telecommunications, life sciences, BFSI, retail, manufacturing, consumer goods, government and defense, healthcare, and others. The BFSI segment can rise at 9.6% CAGR across the forecast period and value at USD 59.28 billion in the years to come. The IT & telecom segment can generate USD 41.32 billion revenue at 9.8% CAGR in the years to come. The government & defense segment can rise at 13.1% CAGR in the analysis period.
Business Process Outsourcing (BPO) Services Market Regional Study
The business process outsourcing service market is studied across North America, EU, APAC, MEA, and South America. North America BPO services market is anticipated to gain global foothold across the analysis period. The expansion of Asia Pacific business process outsourcing can be attributed to the increase in industries in the region. In Europe, the BPO services market can thrive at considerable growth rate in the analysis period.
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1 Executive Summary
1.1 Market Attractiveness Analysis
2 Market Introduction
2.1 Definition
2.2 Scope Of The Study
2.3 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
3.6 List Of Assumptions
4 Market Insights
5 Market Dynamics
Continued…
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A complete detail of the effect of COVID 19 on the business outsourcing service market is supplemented along with the report.
On the conclusion of the review period, the business process outsourcing service market can value at USD 335.2 Billion.The rise in exercising of BPO services across the booming IT and telecommunication sector can promote the expansion of the BPO service market across the analysis period.
On the other side, the increase in issues associated with data privacy and integrity can pose major threat to the expansion of the global business process outsourcing (BPO) market rise.Segmental AnalysisThe segment evaluation of the Global Business Process Outsourcing (BPO) Services Market is done by Organization Size, Type, Deployment, and Vertical.The type based segments of the BPO services market are back office outsourcing, finance & accounting outsourcing, procurement outsourcing, human resource & recruitment outsourcing, e-commerce support services, IT outsourcing, training & development outsourcing, and others.
The finance & accounting outsourcing segment can rise at 10.0% CAGR and earn about USD 30.58 Billion in the years to come.
The large enterprise segment can rise at 8.5% CAGR to earn USD 126.62 billion revenue for the global market.
The SME segment can valued at USD 59.60 Bn at 14.9% CAGR across the review period.The vertical based segments of the market are IT and telecommunications, life sciences, BFSI, retail, manufacturing, consumer goods, government and defense, healthcare, and others.
Business Process Outsourcing (BPO) Services Market Overview The business process outsourcing (BPO) services market is anticipated to witness healthy growth from 2020 to 2027, a research report suggests.
During the forecast period, the market will be supported by new revenue opportunities and research and development.
The lack of investments from major companies on the other hand will challenge non-core business activities sector based organizations functioning in the global business process outsourcing (BPO) services market.
The shifting preference for cheaper alternatives is set to affect the global market during the forecast period 2020 to 2027.
Additionally, the business process outsourcing (BPO) services market on the basis of type is segmented into accounting outsourcing, back office outsourcing, e-commerce support services, finance, IT outsourcing, and others.
But the report also identifies the lack of investments from major companies and the increasing demand for highly skilled professionals as major threats companies in non-core business activities will face till 2027. Business Process Outsourcing (BPO) Services Market Regional Overview non-core business activities market based companies in the business process outsourcing (BPO) services market are functioning across North America, Europe, Asia Pacific, the Middle East, and Africa including the rest of the world.
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