Middleoffice Business Process Outsourcing (BPO) Service Market Size, Trends, Revenue Share Analysis, Forecast 2024-2033

The new report published by The Business Research Company, titled ""Middleoffice Business Process Outsourcing (BPO) Service Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the middleoffice business process outsourcing (BPO) Service market size has grown strongly in recent years. It will grow from $15.61 billion in 2023 to $16.62 billion in 2024 at a compound annual growth rate (CAGR) of 6.5%. The middleoffice business process outsourcing (BPO) market size is expected to see strong growth in the next few years. It will grow to $20.48 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.

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Impact Of Data Security Needs On The Middle-Office BPO Service Market
The growing need for data security is expected to propel the growth of the middle-office BPO service market going forward. The need for data security refers to the critical requirement to protect sensitive information against unauthorized access, disclosure, change, or destruction. The demand for data security measures is rising due to several factors, such as the growing volume of data, remote work and cloud adoption, the increasing proliferation of cyber threats, and heightened privacy expectations. BPO service providers ensure the secure management and processing of sensitive information in compliance with client specifications and regulatory standards by implementing strong data security policies and best practices. Furthermore, BPO providers use data loss prevention (DLP) solutions to avoid inadvertent or intentional data leaks by monitoring and managing data transit across networks, endpoints, and cloud environments. For instance, in October 2022, according to McKinsey & Company, a US-based strategy and management consulting firm, organizations around the world spent around $150 billion in 2021 on cybersecurity, growing by 12.4% annually. Therefore, the growing need for data security and privacy measures is driving the growth of the middle-office BPO service market.

Strategic Collaborations Transforming The Middleoffice BPO Services Market
Major companies operating in the middleoffice BPO service market are focused on adopting strategic collaborations to gain a competitive edge in the market. BPO service providers collaborate with technology vendors to implement cutting-edge tools and platforms for data processing, analytics, automation, and cybersecurity. These agreements allow BPO firms to provide new solutions and services to their clients, improve operational efficiency, and remain ahead of industry trends. For instance, in January 2023, LiquidX Inc., a US-based financial technology solutions provider, in partnership with Broadridge Financial Solutions, a US-based corporate services and financial technology company, launched InBlock TradeOps, a brand new tool that offers solutions for back and middle offices in trade finance. It is the first comprehensive solution that focuses on lending and investing in this multi-trillion-dollar credit asset class while removing all operational obstacles. We are proud of TradeOps' flexible pricing and servicing approach that scales with the investor's assets, allowing them to operate smarter, faster, and cheaper with higher investment returns. This strategic alliance enabled LiquidX to leverage Broadridge's global contacts, acquire new customers, and connect finance and treasury experts with asset management, bank, and corporate clients.

The middleoffice business process outsourcing (BPO) service market covered in this report is segmented -

1) By Type: Portfolio Management, Trade Management, Other Types
2) By Service Office: Insurance Business Process Outsourcing (BPO), Banking Business Process Outsourcing (BPO), Government, Knowledge Process Outsourcing Services, Other Middleoffice Business Process Outsourcing (BPO) Services
3) By Vertical: Banking, Financial Services, And Insurance (BFSI), Manufacturing, Healthcare And Pharmaceuticals, Retail And Consumer Goods

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Major companies operating in the middleoffice business process outsourcing (BPO) service market are Accentur*e PLC, International Business Machines Corporation, Hewlett Packard Enterprise Development LP, Tata Consultancy Services Limited, Capgemini SE, NTT DATA Group Corporation, Cognizant, Infosys Limited, ADP Inc., DXC Technology Company, IQVIA Holdings Inc., HCL Technologies Limited, State Street Corporation, Atos SE, Wipro Limited, CGI Inc., Tech Mahindra Limited, Concentrix Corporation, Sopra Steria Group SA, Genpact Limited, UST Global Inc., Conduent Inc., Capita plc, Sutherland Global Services Inc., Larsen & Toubro Infotech Limited, Firstsource Solutions Limited, Mphasis Limited, ExlService Holdings Inc., Mindtree Limited, WNS Global Services Inc., Hexaware Technologies Limited

Contents of the report:
1. Executive Summary
2. Middleoffice Business Process Outsourcing (BPO) Service Market Report Structure
3. Middleoffice Business Process Outsourcing (BPO) Service Market Trends And Strategies
4. Middleoffice Business Process Outsourcing (BPO) Service Market - Macro Economic Scenario
5. Middleoffice Business Process Outsourcing (BPO) Service Market Size And Growth
…..
27. Middleoffice Business Process Outsourcing (BPO) Service Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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