Business Processes Outsourcing market forecast 2023-2032 - major trends, lucrative segments and fastest growing regions

As per The Business Research Company's Business Processes Outsourcing Opportunities And Strategies Market Report 2023, The global business processes outsourcing market grew from $269.47 billion in 2017 to $312.21 billion in 2022 at a compound annual growth rate (CAGR) of 3.0%. The market is expected to grow from $312.21 billion in 2022 to $374.75 billion in 2027 at a CAGR of 3.7%, and to $460.69 billion in 2032 at a CAGR of 4.2%.

Growing use of cloud computing is expected to propel the growth of the business processes outsourcing market during the forecast period. Cloud computing and business analytics are set to inject new life into the business process outsourcing (BPO) sector through reduced upfront costs and better use of the data. For example, in December 2022, A survey by Deloitte, a UK based professional services network, showed that Small and Medium Enterprises using cloud computing grew 26% faster and made 21% more profit. Further, in December 2022, according to a study by IBM, a US based Technology corporation, 65% respondents said that cloud computing helped them reduce time to market. Therefore, the growing use of cloud computing is driving the growth of the business processes outsourcing market.

View Complete Report @
https://www.thebusinessresearchcompany.com/report/business-processes-outsourcing-market

Artificial intelligence (AI) is gaining traction in the business processes outsourcing market. Artificial intelligence (AI) is the capacity of a digital computer or robot operated by a computer to carry out actions frequently performed by intelligent beings. AI has made it possible for outsourcing companies to cut operating expenses while increasing the effectiveness of their service delivery. Most support tasks can be handled by automated systems without any human involvement. The use of chatbots, robotic process automation and other cloud-based tools by BPO organizations accelerates growth, by delivering better results on client projects. For example, in July 2022, Laivly, a Canada-based a customer care technology company, launched an AI platform that translates in-the-moment intelligence into in-the-moment action, so that contact centers may boost output, boost returns on investment and provide a better customer service. The AI platform serves as a cognitive assistant on an agent's desktop, rapidly responding and taking over managing simple questions or repetitive chores so agents can spend more time concentrating on other client needs and increasing productivity.

Opportunities -The top opportunities in the business processes outsourcing market by type of service will arise in the HRO BPO segment, which will gain $17.99 billion of global annual sales by 2027. The top opportunities in the business processes outsourcing market by end-use industry will arise in the IT & telecom segment, which will gain $22.72 billion of global annual sales by 2027. The top opportunities in the business processes outsourcing market by automation type will arise in the automated BPO services segment, which will gain $60.29 billion of global annual sales by 2027. The top opportunities in the business processes outsourcing market by service provider's location will arise in the Asia Pacific segment, which will gain $22.40 billion of global annual sales by 2027. The business processes outsourcing market size will gain the most in USA at $5.19 billion.

Business Processes Outsourcing Market Segmentation:
The Business Processes Outsourcing market is segmented

By Service Type -
The business processes outsourcing market is segmented by service type into
a) CRM (Customer Relationship Management) BPO
b) HRO (Human Resources Outsourcing) BPO
c) Finance And Administration (F&A) BPO
d) Other BPO Services

By End-Use Industry -
The business processes outsourcing market is segmented by end-use industry into
a) Banking, Financial Services And Insurance (BFSI)
b) Retail
c) Information Technology (IT) And Telecom
d) Manufacturing
e) Healthcare
f) Other End-Uses

By Automation Type -
The business processes outsourcing market is segmented by automation type into
a) Automated BPO Services
b) Non-Automated BPO Services

Major players in the Business Processes Outsourcing market include ADP, Teleperformance, Concentrix, Paychex, Conduent

The regions covered in the global Business Processes Outsourcing market are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Download FREE SAMPLE Report -
https://www.thebusinessresearchcompany.com/sample_request?id=2341&type=smp

The latest report from The Business Research Company, 'Global Business Processes Outsourcing Opportunities And Strategies Market Report - Forecast To 2032,' provides a comprehensive global perspective with data and statistics from 60+ geographies, analyzing 7000+ market segments. The regional and country breakdowns section offers insights into each geography's market analysis, size, historic and forecast growth, and key strategies for industry competitiveness.

Business Processes Outsourcing Market Report Table Of Content

1. Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
…………………………………………………….
27. Key Mergers and Acquisitions
28. Market Background: Software And BPO Services Market
29. Opportunities And Strategies
30. Business Process Outsourcing Market, Conclusions And Recommendations
31. Appendix

PURCHASE the report @
https://www.thebusinessresearchcompany.com/purchaseoptions.aspx?id=2341

Get to know us better:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: info@tbrc.info

LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/

This release was published on openPR.