BPO Services Market Analysis
The business process outsourcing services market will touch USD 335.2 billion at a 10.8% CAGR between the forecast period 2019- 2024, states the recent Market Research Future (MRFR) analysis. Business process outsourcing (BPO), simply put, is a process where the company contracts the supporting business activities to third-party service companies. The report gives a better understanding of the covid-19 impact on the BPO Services market operations and more and initial implications of the same on specific sectors.
Various factors are propelling the future of outsourcing services market growth. According to the recent MRFR report, such factors include growing adoption of BPO services in IT and telecommunication, growing investments by enterprises for outsourcing business processes, and technological development are adding to the global business process outsourcing industry revenue growth in the region.
On the contrary, integrity and data privacy, and the recent COVID-19 pandemic may limit the global business process outsourcing services market growth in the region.
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BPO Services Market Key Players
Key players profiled in the global business process outsourcing (BPO) services market report include
- Conduent Inc.,
- Accenture PLC
- WNS (Holdings) Ltd
- Infosys BPM Limited
- IBM Corporation
- Tata Consultancy Services Limited (TCS)
- TTEC Holdings
- Conneqt Business Solution Limited
BPO Services Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global BPO industry based on vertical, organization size, deployment, and type.
IT outsourcing, back office outsourcing, finance accounting outsourcing, E-commerce support services, training development outsourcing, and others.
Cloud and on-premise.
BFSI, IT Telecommunications, manufacturing, healthcare life sciences, government defense, retail consumer goods, and others.
By Organization size
Small and medium-sized enterprises and large enterprises.
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BPO Services Market Regional Analysis
By region, the global business process outsourcing services market covers the growth opportunities and recent trends across Europe, North America, the Asia Pacific (APAC), South America, and the Middle East and Africa (MEA). Of these, North America will spearhead the market over the forecast period. Technological advances, growing demand for such services, shift towards the adoption of BPO services to focus on core business by business enterprises, the presence of well-established infrastructure, and implementation of advanced technologies are adding to the global business process outsourcing services market growth in the region. Canada and the US have the utmost share in the market.
In Europe, the global business process outsourcing services market is predicted to have the second-largest share over the forecast period. Provision of customization and flexibility of service offerings to better meet individual needs, growing demand for cloud computing technology, the availability of skilled workforce, and the availability of the quality of service and operational efficiency are adding to the global business process outsourcing services market growth in the region.
In the APAC region, the global business process outsourcing services market is predicted to have healthy growth during the forecast period and at a positive CAGR. The consolidation of prominent players is adding to the global business process outsourcing services market growth in the region.
In the MEA and South America, the global business process outsourcing services market is predicted to have sound growth over the forecast period.
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This global business process outsourcing market services research includes the Market Overview, COVID-19 analysis, Market Dynamics, Study Objectives, Segment Overview, Regional Analysis, Competitive Landscape, Recent developments, Segmentation Table, and FAQs. The market dynamics include the business process outsourcing market services market drivers, restraints, Technological trends, and opportunities. The business process outsourcing market services market segments are type, deployment, organization size, vertical, and regions.
Reasons for Buying This Report:
- It Provides A Forward-Looking Perspective on Different Factors Driving or Restraining Market Growth.
- It Provides Five-Year Forecast Assessed based on How the Market Is Predicted to Grow.
- It Helps in Understanding the Key Product Segments and Their Future.
- It Provides Pinpoint Analysis of Changing Competition Dynamics and Keeps You Ahead of Competitors.
- It Helps in Making Informed Business Decisions by Having Complete Insights of Market and By Making an In-Depth Analysis of Market Segments.
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