Cloud BPO Market Rate US$ 3987.5 Million By 2025 - Advanced Technology, New Development, Key Manufacturers and Future Opportunities

APAC Cloud BPO Market is anticipated to grow at a high CAGR during the forecast period 2016-2025, to reach US$ 3987.5 Mn by 2025.

The Asia Pacific region comprises of several developing countries such as China, and India are witnessing a high growth in their population, further generating high demands for better business services in the region. The market in Asia Pacific has been witnessing significant growth owing to rising in adoption of cloud technology and digitalization. China leads the Cloud BPO market in terms of market share owing to cheap labor and domestic BPO demand, whereas India Cloud BPO market is growing with the highest CAGR in the APAC region. These factors are anticipated to further propel the demand for Cloud BPO in APAC region.

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In the coming years, India and Philippines are expected to be the key target for Cloud BPO service providers as these countries are rapidly growing economically and technologically providing the BPO organizations with better information security, booming popularity of cloud based software, and strategic balanced-shore outsourcing. Some of the key players originating from Asia Pacific include Tata Communications, BT, Orange Business Services and Telstra.

Cloud BPO market is expected to grow US$ 94,522.7 million by 2025 from US$ 31,580.0 million in 2016. The Cloud BPO offers various types of services for different sectors such as human resource, e-commerce, finance and accounting, customer care, sales & marketing and others.

High adoption of cloud computing in different regions is providing significant opportunities for the providers of cloud BPO services to increase the market share in the regions. By the end of 2016, the cloud computing industry had achieved significant adoption across all the major industries worldwide. Owing to this trend the companies are anticipated to produce high quality service by adopting cloud based technology. In coming years, the cloud adoption is further expected to lighten up the business process outsourcing services by cost effectiveness and automated processes.

Also, the customers in today’s highly competitive environment are well aware about their burgeoning power and value as they have encountered with the digital economy and attained access to various services worldwide. This has further raised their expectations with respect to cloud based services as organizations have become more aware about the benefits of cloud based BPO services. The cloud as a core platform has been already been leveraged by the clients as a novel external as well as internal initiative, which has subsequently increased the competition among the BPO service providers, further motivating them to adopt improvised technologies such as cloud based technologies to serve their customers/clients in a better way.

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Rising concerns regarding data security as a restraining factor in the market such as security concerns regarding data breach, ransomware, malware injection and DoS (Denial of Service).

The overall market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. It also provides the overview and forecast for the global Cloud BPO market based on all the segmentation provided with respect to five major reasons such as North America, Europe, Asia-Pacific, Middle East and Africa, and South America. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis. The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the cloud BPO industry.

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