Business Process Outsourcing (BPO) Market Size Latest Research On Industry Growth, Trends, Top Players, & Key Regions 2027

Business Process Outsourcing (BPO) Market: Global Industry Analysis 2015 To 2020 And Opportunity Assessment 2021 To 2025

Rise in corporate profit, availability of a low-cost talent pool in emerging economies and technological transformations in the retail and e-commerce verticals are some factors driving the growth of the market.

Business Process Outsourcing (BPO) Market is valued at USD 187.91 Billion in 2018 and expected to reach USD 314.81 Billion by 2025 with a CAGR of 7.65% over the forecast period.

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Key Players for Global Business Process Outsourcing (BPO) Market Report:

Global Business Process Outsourcing (BPO) Market reports cover prominent players like ADP, LLC, Conduent Inc., WNS (Holdings) Ltd, Capgemini, Infosys BPM Limited, IBM Corporation, Tata Consultancy Services Limited (TCS), TTEC Holdings, Inc., Conneqt Business Solution Limited among.

Business process outsourcing (BPO) is a process of subcontracting various business-related operations to third-party merchants. Although BPO originally useful solely to manufacturing entities, such as soft drink manufacturers that outsourced large segments of their supply chains, BPO now applies to the outsourcing of services, as well. Business process outsourcing (BPO) services are delivered to IT, finance & accounting, back-office process, e-commerce and support, procurement, human resource & recruitment process among others, by third-party providers to various organizations. A BPO service provider usually administers and manages a particular business process for another company. BPOs either use new technology or apply an existing technology in a new way to improve a particular business process. It is the contracting of non-primary business activities and functions to a third-party provider. BPO services include payroll, human resources (HR), accounting and customer/call center relations. BPO is also called as information technology enabled services (ITES).

Global Business Process Outsourcing (BPO) Market Segmentation:

• By Type:- IT outsourcing, Finance and accounting outsourcing, Back office outsourcing, E-commerce support services, Training & development outsourcing, Others

• By Deployment:- Cloud, On-Premise

• By Organization Size: - Small and medium-sized enterprises, Large enterprises

• By Vertical:- BFSI, IT and telecommunications, Retail and consumer goods, Manufacturing, Healthcare and life sciences, Government and defense

The regions covered in global Business Process Outsourcing (BPO) market reports are North America, Europe, Asia-Pacific and Rest of the World. On the basis of country level, global Business Process Outsourcing (BPO) market sub divided in U.S., Mexico, Canada, U.K., France, Germany, Italy, China, Japan, India, South East Asia, GCC, Africa, etc.

Global Business Process Outsourcing (BPO) Market Regional Analysis:

North America is dominating the Business Process Outsourcing (BPO) market. The growth is mainly attributed to the presence of major tech firms and startups in the country. Companies operating in the region are heavily investing in the development of advanced technologies like analytics, big data, cloud computing, and artificial intelligence (AI) in order to provide comprehensive BPO services to their clients.

Furthermore, Asia-Pacific Business Process Outsourcing (BPO) market is growing at a highest CAGR due to countries such as China and India are among the fastest-growing economies in the world. Recently, India is the number one destination for business process outsourcing, as most companies in the US and UK outsource IT-related business processes to Indian service providers. Convenience of the low-cost talent pool in emerging market such as India, China and the Philippines supported the growth of the BPO services market. Companies in developed economies outsourced their business processes to emerging economies such as India and China to capitalize on their affordable talent pool. In 2016, the minimum wage per month in the UK equaled to USD 1,724 while the minimum wage in the USA equaled to USD 1,257 around 8.5 and 6 times higher than the minimum wage in India respectively, which made India attractive in the BPO services sector.

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