BPO Service Market 2020: Strong Growth Continues With Technology Advancements To Continue Beyond Upcoming Year, Allied Market Research

Allied Market Research published a new report, titled, “BPO Service Market” The report offers an extensive analysis of key growth strategies, drivers, opportunities, key segment, Porter’s Five Forces analysis, and competitive landscape. This study is a helpful source of information for market players, investors, VPs, stakeholders, and new entrants to gain thorough understanding of the industry and determine steps to be taken to gain competitive advantage.

It has seen tremendous growth over the years due to multiple advantages of the BPO industry and estimates reveal that this growth will be seen in the future as well as. The BPO industry is currently responsible for creating the second-highest number of jobs, and the global BPO market is estimated to cross an astonishing $400 billion. The remuneration given to the employees is also one of the best in the industry, which is one of the main reasons young people have to work at BPO. The BPO industry has employed many talented young people and has changed the GDP of various small countries.

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Reduction in barriers of international trade and improved telecommunications & IT capabilities have led to a situation where organizations are increasingly interlinked to each other for business, encouraging demand for the BPO services market.

Rise in adoption of application outsourcing and increase in digital transformation in the organization are some of the factors that drive the demand for the BPO service market as startups are now becoming BPO customers. Lack of effective communication between client and vendor and the presence of other artificial outsourcing services becomes an obstacle for the growth of the BPO service market.

Regional Analysis – North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA).

Key Market Players Profiled In The Report:

• DP LLC
• Conduent Inc.
• Accenture PLC
• WNS (Holdings) Ltd
• Capgemini
• Infosys BPM Limited
• IBM Corporation
• Tata Consultancy Services Limited (TCS)
• TTEC Holdings Inc.
• Conneqt Business Solution Limited

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Key Segment Covered:

Type:

○ IT Outsourcing
○ Finance & Accounting Outsourcing
○ Back Office Outsourcing
○ E-commerce Support Services
○ Training & Development Outsourcing

Organization Size:

○ Small & Medium-sized Enterprises
○ Large Enterprises

Vertical:

○ BFSI
○ IT & Telecommunications
○ Retail & Consumer Goods
○ Manufacturing
○ Healthcare
○ Government & Defense

COVID-19 Scenario Analysis:

♦ With COVID-19 rapidly spreading around the globe, BPO companies and third-party service providers are struggling to cope with changing working conditions.
♦ Some of the top problems faced by BPO organizations are data security and the impact on productivity due either to inadequate infrastructure in employee homes or lack of supervision.
♦ The other issues include difficulty in recording calls when working remotely and exposure to clients of personal employee data.
♦ Organizations are taking several measures to ensure that remote working does not adversely affect the productivity of contact center agents.

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