Business Processes Outsourcing Market Report 2020 with COVID-19 Impact Analysis, Industry Size, Market Status, Influencing Factors, Competition, SWOT Analysis Forecasts To 2022

Business Processes Outsourcing Market - By Type (Crm Bpo, Hro Bpo, F&A Bpo, And Other Bpo Services), Drivers And Restraints, By Region, Opportunities And Strategies – Global Forecast To 2022 By The Business Research Company

The global business processes outsourcing market reached a value of nearly $199.4 billion in 2018, having grown at a compound annual growth rate of 6.1% since 2014, and is expected to grow at a CAGR of 8.7% to nearly $278.6 billion by 2022.

The Key drivers of the business processes outsourcing market include:-
Low-Cost Talent Pool In Emerging Markets : The availability of the low-cost talent pool in emerging market such as India, China and the Philippines supported the growth of the BPO services market in the historic period. Companies in developed economies outsourced their business processes to emerging economies such as India and China to capitalize on their affordable talent pool.

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Business Processes Outsourcing Market Segmentation:-
By Service Type
1. CRM BPO
2. HRO BPO
3. F&A BPO
4. Other BPO Services

The CRM BPO market was the largest segment of the BPO services market by type of service in 2018 at 33.8%. The F&A BPO services market is expected to be the fastest-growing segment going forward at a CAGR of 11.7%.

By End-User Industry
1. Financial Services
2. Retail & Wholesale
3. Information Technology
4. Manufacturing
5. Healthcare
6. Others

The BPO services market for financial services was the largest segment of the BPO services market by end use industry in 2018 at 36.2%.

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By Geography - The business processes outsourcing market is segmented into
1.North America
2.Western Europe
3.Asia Pacific
4.Eastern Europe
5.South America
6.Middle East
7.Africa

Some of the major key players involved in the business processes outsourcing market are
1. Automatic Data Processing, Inc. (ADP)
2. Accenture plc
3. Conduent Inc.
4. Teleperformance SE
5. Paychex, Inc.

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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets after WHO declared COVID-19 as a pandemic.

This release was published on openPR.