Market Research Future has published a Cooked Research Report on the Global Business Process Outsourcing (BPO) Services Market.
The main force behind the growth of BPO services is the expansion of their use in the IT and telecommunications industries. The BPO services' adaptability is strengthening the market to various end-use sectors, including manufacturing, banking, and financial services. The use of BPO services is growing due to decreased operating expenses and increased support function efficiency in client services. Business culture would be driven by the desire for business process outsourcing and result in ongoing success by focusing on shared workload. Businesses are increasing their BPO investments, which is fueling industry expansion. The business process outsourcing services market is expanding as new technologies are developed. Additionally, there is a considerable demand for BPO services from the financial, banking, and insurance sectors
Regional Analysis
The BPO services market is spread in Europe, North America, South America, Asia-Pacific, Africa, and the Middle East. While according to the previous research, the dominating market was North America with a market share of over 36%, it's predicted that during the forecast period of 2022-2030, Asia - Pacific will take over the markets because of a highly growing business. Also, the European region will likely show tremendous future growth and hold the second-largest market share for BPO services.
Market Segmentation
The BPO services market is further divided by type, deployment, vertical, and organization size.
Considering the sub-segmentation, when it comes to segmentation by type, the market is further divided into IT outsourcing, back-office outsourcing, finance & accounts outsourcing, E-commerce support services along with training & development outsourcing. Coming to the sub-segmentation by deployment is described into two types: the cloud and on-premises.
The further segmentation of this market in context to verticals is into BFSI, IT & telecommunications, manufacturing, healthcare & life Sciences, government, defense, and retail and consumer goods.
The IT & Telecommunications segment leads the market for BPO services. The increasing scope of technology is why this segment is leading and will project outstanding shares in the market. Regarding market segmentation by organization size, the market is divided into small, medium, and large-sized enterprises.
Key Players
- ADP
- LLC
- Conduent Inc.
- Accenture PLC
- WNS (Holdings) Ltd
- Capgemini
- Infosys BPM Limited
- IBM Corporation
- Tata Consultancy Services Limited (TCS)
- TTEC Holdings
- Conneqt Business Solution Limited
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Report details
| Companies Covered | 15 |
| Pages | 140 |
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