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Startups As Key Clients In The Software And BPO Service Market: A Key Catalyst Accelerating Global Software And BPO Services Market Growth in 2025
Software And BPO Services
Software And BPO Services Market Size Growth Forecast: What to Expect by 2025?
In the past few years, the software and BPO services market has experienced robust growth. The market size is expected to increase from $1825.07 billion in 2024 to $1958.34 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 7.3%. Factors such as globalization, cost-efficiency, emphasis on core competencies, and scalability have contributed to the growth observed in the historic period.
How Will the Software And BPO Services Market Size Evolve and Grow by 2029?
The market size for software and BPO services is anticipated to witness significant growth in the upcoming years, reaching $2857.07 billion in 2029 with a compound annual growth rate (CAGR) of 9.9%. Factors influencing this growth during the forecast period includes ongoing digital transformation, increased emphasis on data privacy and security, advances in artificial intelligence (AI) and automation, the rise of remote work, development of industry-specific solutions, along with an emphasis on sustainability and ESG. Key trends expected during this forecast period incorporate electrification and lightweighting, usage of advanced materials, the rise of additive manufacturing, advancements in digitalization and connectivity, as well as an emphasis on collaboration and partnerships.
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What Drivers Are Propelling the Growth of Software And BPO Services Market Forward?
The rise of startups as key consumers for software and BPO service providers is predicted to bolster the market. Propelled by the need for cost-effectiveness and a focus on primary operations, startups have begun to outsource non-essential functions such as finance and recruitment to specialist firms and organizations. For example, Leverage Edu, an EdTech startup based in India that connects students and mentors, manages to save about 40% of its capital through the outsourcing of finance and tech tasks. The growth in the number of startups should also have a positive effect on the market. The number of startups in India is set to rise to 10,500 by 2020, marking a 4,000 increase from the current figure, indicating new potential for the software and BPO services market in terms of client development and revenue generation.
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Which Emerging Trends Are Transforming the Software And BPO Services Market in 2025?
A growing number of software service firms are implementing quality benchmarks such as the Information Technology Infrastructure Library (ITIL) and the International Organization for Standardization (ISO) 9001. These benchmarks are aimed at bringing IT services in line with business needs. ITIL outlines a set of processes, methods, and tasks that a company can utilize to deliver software solutions and services to meet predetermined quality criteria. Similarly, ISO 9001 is a recognized standard for high-quality products and services that satisfy the desired quality standards and demonstrates reliability. To illustrate, roughly 1.1 million ISO 9001 certifications have been awarded to organizations across various sectors including software services, medical devices, oil and gas, automotive companies, and government bodies till now.
What Are the Key Segments in the Software And BPO Services Market?
The software and bpo servicesmarket covered in this report is segmented -
1) By Type: BPO Services, Software Services
2) By Organization Size: Large Enterprises, Small And Medium Enterprises
3) By End-Use Industry: Financial Services, Retail And Wholesale, Information Technology, Manufacturing, Healthcare, Other End-User Industries
Subsegments:
1) By BPO Services: Customer Support Services, IT Helpdesk And Technical Support, Human Resources Outsourcing (HR Outsourcing), Finance And Accounting Outsourcing, Procurement And Supply Chain Outsourcing, Healthcare BPO Services, Legal Process Outsourcing (LPO), Knowledge Process Outsourcing (KPO)
2) By Software Services: Custom Software Development, Software Maintenance And Support, Cloud Computing Services, Software Testing And Quality Assurance, Enterprise Resource Planning (ERP) Services, Application Development And Integration, Data Analytics And Business Intelligence Services, Cybersecurity Services
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Who Are the Key Players Shaping the Software And BPO Services Market's Competitive Landscape?
Major companies operating in the software and bpo services market include Tata Consultancy Services Limited, Nippon Telegraph and Telephone Corporation, Telefonaktiebolaget LM Ericsson, Cognizant Technology Solutions Corporation, Dell Technologies Inc., Hewlett Packard Enterprise Company, Microsoft Corporation, Capgemini SE, Cisco Systems Inc., Infosys Limited, accenture* plc, International Business Machines Corporation, Wipro Limited, HCL Technologies Limited, DXC Technology, Genpact Limited, NTT Data Corporation, Atos SE, CGI Inc., Larsen & Toubro Infotech Limited, Tech Mahindra Limited, WNS Global Services Limited, Syntel Inc., LTIMindtree Limited, Hexaware Technologies Limited, Mphasis Limited, Virtusa Corporation, Zensar Technologies Limited, EPAM Systems Inc, Citibank NA, ExlService Holdings Inc., WNS Limited, Wipro Limited, Hinduja Global Solutions Limited, Sutherland Global Services Inc., Teleperformance SE.
What Geographic Markets Are Powering Growth in the Software And BPO Services Market?
Asia-Pacific was the largest region in software and BPO services market in 2024. North America was the second largest region in software and BPO services market. The regions covered in the software and BPO services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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