Business Process Outsourcing (BPO) Market Trends 2022 | Segmentation, Outlook, Industry Report to 2028

The global BPO market is anticipated to grow at a considerable CAGR of 7.8 % during the forecast period (2022-2028). Rapidly rising adoption of various advance and new technologies such as Robotic Process Automation (RPA) and cloud computing by the market players is major factor which is bolstering the growth of the market. Cloud computing uses a network of internet-connected, remote services to manage, store, and process data. It supports BPO providers in increasing the speed of production, gaining greater quality control, and reducing costs. Adopting cloud computing in the BPO industry aids flexible provisioning, instant computing support, and system access for business purposes whenever required. Furthermore, cloud computing also offers to the BPO market is the reduction in development costs, capital expenditure, the total cost of ownership, and costs aligned to business demands. Such benefits from cloud-based technology are expected to encourage the adoption of cloud computing in the business process outsourcing market over the forecast period.

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BPO service providers can also leverage the benefits of cloud computing to reduce the time required for processing data-intensive business processes. As such, cloud computing in BPO can potentially enhance data processing workflow while reducing the turnaround time, which is another factor fueling the growth of the business process outsourcing market over the forecast.

Moreover, RPA can help BPO providers speed up and offer great new services to clients at an effective and reduced cost. The Implementation of social media management tools focused on real-time customer engagement and cloud technologies is also expected to play a pivotal role in driving the growth of the BPO market over the forecast period.

Market Coverage

· The market number available for - 2021-2028

· Base year- 2021

· Forecast period- 2022-2028

Segment Covered-

By Service Type

· By Deployment Model

· By End-User

Regions Covered-

· North America

· Europe

· Asia-Pacific

· Rest of the World

Competitive Landscape- including Capgemini SE, Genpact Ltd., Capita Plc, CBRE Group Inc., Ceridian HCM, Inc., CGI Group, Inc., DXC Technology Co., EXLService Holdings, Inc., HCL Technologies Ltd, and others.

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Global Business Process Outsourcing (BPO) Market Report Segment

By Service Type

· Finance & Accounting

· HR

· KPO

· Procurement

· Customer Services

· Others

By Deployment Model

· Cloud

· In-Premises

By End-User

· BFSI, Healthcare

· Manufacturing

· IT & Telecommunication

· Retail

· Energy & Utilities

· Others

Global Business Process Outsourcing (BPO) Market Report Segment by Region

North America

· United States

· Canada

Europe

· UK

· Germany

· Spain

· France

· Italy

· Rest of Europe

Asia-Pacific

· India

· China

· Japan

· South Korea

· Rest of APAC

Rest of the World

· Latin America

· Middle East & Africa

Company Profiles

· Alight Solutions LLC

· AMDATEX (American Data Exchange)

· Amdocs

· Atos SE

· Automatic Data Processing, Inc.

· Capita plc

· CBRE Group, Inc.

· Ceridian HCM Holding, Inc.

· CGI Inc.

· DXC Technology

· EXLService

· HCL Technologies

· International Business Machines Corp.

· KARVY Global Services

· NGA Human Resources

· NCR Corp.

· NTT DATA Corp.

· Randstad NV

· Sopra Steria

· Sodexo

· StarTek, Inc.

· Tata Consultancy Services Ltd.

· TriNet Group, Inc.

· TTEC Holdings, Inc.

· Wipro Ltd.

· WNS Ltd.

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