Business Process Outsourcing Market - Forecast(2023 - 2028)

Report Code: ITR 79427 Report Format: PDF + Excel

Overview

The business process outsourcing market size is set to grow at a CAGR of 7.5% during the forecast period 2020-2025 and projected to reach $338.1 billion by 2025. Business process outsourcing (BPO) comprises of contracting third-party vendors/service providers to handle multifarious business-related operations and responsibilities. The increase in the adoption of BPO by businesses across varied industry verticals, as these solutions provide a significant number of opportunities for both cost reduction and business growth as well. Moreover, the BPO services to organize the time and resources effectively which improve the core business and office operations, thus, the businesses are preferring this ease option. Hence, these factors are contributing to the expansion of the global business process outsourcing market size.  

Report Coverage

The “Business Process Outsourcing Market Report – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the business process outsourcing Industry.

Key Takeaways

·Europe held a larger share in the business process outsourcing market owing to the increasing demand for the increasing requirement for cloud technology and knowledge process outsourcing.

·The growing acceptance of business outsourcing by a large number of companies, as this partnership provides a long-term cost-effective solution is likely to aid in the market growth of the BPO.

·The rise in the dependency of startups on BPO to complete recruitment and trading and gain talent at lower costs. Therefore, the mutual dependency of the BPOs and startups resulted in augmenting the revenue of the global BPO market.

Services- Segment Analysis

Presently, the customer service held the largest share in the business process outsourcing market size in 2018. The growing need for both offline and online technical support due to the increasing number of establishments of service centers has been driving the growth of the customer services in the BPO market. However, the finance and accounting service is projected to grow at the highest CAGR during the forecast period in comparison with human resources, procurement, and supply chain, knowledge process outsourcing, and customer services. This is because of the increment in the number of banking facilities coupled with the strict regulatory necessities in the banking sector, which are boosting the need for outsourcing services, globally.

End-Use - Segment Analysis

Currently, the BFSI segment occupied a larger share in the global business process outsourcing market size, as of 2018. Whereas, the IT and telecommunications sector is anticipated to grow at a highest CAGR during 2020-2025. This is mainly owing to the progression in the industrialization along with the growth of IT companies, worldwide. In addition to this, the government support by offering a notable part of the global economy to the banking and healthcare sectors to lift up their investments in technology. For instance, the National Association of Software and Services Companies (NASSCOM), a trade association for the IT industry in India, stated that the IT-BPO industry was valued at $118.0 billion as of 2018.

Geography - Segment Analysis

Europe's business process outsourcing market share dominated the global business process outsourcing market, accounts for more than 29%, followed by North America and APAC. It is majorly due to the flexibility and customization of service offerings to fulfill the rise in need for cloud computing technology by every individual. Furthermore, the increasing adoption of outsourcing in this region is burgeoning the Europe business process outsourcing market revenue.

Drivers – Business Process Outsourcing Industry Outlook

·     The emergence of new technologies is attributing the growth of the business process outsourcing market

     Developing technologies including cloud computing, software, social media, and automation are being used by BPOs, which are helpful in decreasing the costs and accelerating the growth. The growing customer base is also witnessing the increment in the number of businesses awareness regarding the benefits of outsourcing. Additionally, even startups are showcasing their interest in outsourcing one of their support business and encouraging the partnering with other firms. The economically viable solutions offered by the BPO are highlighting the adaption of the latest technologies to meet evolving market conditions and sustain in the competitive environment. This has resulted in the widening of services as well as customer base.

·     The Competitive Advantages of BPO are gaining traction of the companies, thereby fueling the growth of the business process outsourcing market

      The cost efficiency, higher flexibility, better quality and performance, increased diversity of skills and more global presence are the most important benefits offered by the BPO. Through this, the outsourced service providers are engaged in accomplishing their business processes at lower costs. On the other hand, the BPO declines the office space requirement and saves real estate costs. Outsourcing noncritical functions allow organizations to use their internal resources for core competencies and essential business functions. The quality of work completed by external service providers such as web developers or content marketers will be specialized and thus better. They will also be more productive.

Challenges – Business Process Outsourcing Industry

·     Automation prevalence is hindering the growth of the business process outsourcing market

The possible data breaches, quality control & communication issues, impact of unstable governments, snowballing expenses, a lack of strategic alignment, overdependence on service providers are some of the hampering factors associated with the BPO industry. In the BPO sector, automation has been elevating as a major threat to low skilled jobs. As the major outsourcing companies are planning their major investments into robotic automation in the near future.

Market Landscape

Agreements, product launches, and R&D activities are key strategies adopted by players in the business process outsourcing market. In 2018, the market of the business process outsourcing has been consolidated by the top ten players accounting for more than 53% of the share. Infosys BPM Limited, Hcl Technology Limited, Cbre Group, Inc., NCR Corporation, Wipro Limited, Capgemini SE, Ttec Holdings, Inc., Sodexo, Accenture PLC, and Amdocs are the business process outsourcing top 10 companies.   

1. Business Process Outsourcing Market - Overview
        1.1 Definitions and Scope
2. Business Process Outsourcing Market - Executive summary
        2.1 Market Revenue, Market Size and Key Trends by Company
        2.2 Key Trends by type of Application
        2.3 Key Trends segmented by Geography
3. Business Process Outsourcing Market
        3.1 Comparative analysis
            3.1.1 Product Benchmarking - Top 10 companies
            3.1.2 Top 5 Financials Analysis
            3.1.3 Market Value split by Top 10 companies
            3.1.4 Patent Analysis - Top 10 companies
            3.1.5 Pricing Analysis
4. Business Process Outsourcing Market - Startup companies Scenario Premium
        4.1 Top 10 startup company Analysis by
            4.1.1 Investment
            4.1.2 Revenue
            4.1.3 Market Shares
            4.1.4 Market Size and Application Analysis
            4.1.5 Venture Capital and Funding Scenario
5. Business Process Outsourcing Market - Industry Market Entry Scenario Premium
        5.1 Regulatory Framework Overview
        5.2 New Business and Ease of Doing business index
        5.3 Case studies of successful ventures
        5.4 Customer Analysis - Top 10 companies
6. Business Process Outsourcing Market Forces
        6.1 Drivers
        6.2 Constraints
        6.3 Challenges
        6.4 Porters five force model
            6.4.1 Bargaining power of suppliers
            6.4.2 Bargaining powers of customers
            6.4.3 Threat of new entrants
            6.4.4 Rivalry among existing players
            6.4.5 Threat of substitutes
7. Business Process Outsourcing Market -Strategic analysis
        7.1 Value chain analysis
        7.2 Opportunities analysis
        7.3 Product life cycle
        7.4 Suppliers and distributors Market Share
8. Business Process Outsourcing Market - By Services (Market Size -$Million / $Billion)
8.1 Finance & Accounting 
8.2 Human Resources 
8.3 Knowledge Process Outsourcing
8.4 Procurement & Supply Chain 
8.5 Customer Services 
9. Business Process Outsourcing Market - By End-Use (Market Size -$Million / $Billion)
9.1 Banking, Financial Services, And Insurance
9.2 Healthcare
9.3 Manufacturing
9.4 It Telecommunication
9.5 Retail
10. Business Process Outsourcing - By Application (Market Size -$Million / $Billion)
11. Business Process Outsourcing- By Geography (Market Size -$Million / $Billion)
        11.1 Business Process Outsourcing Market - North America Segment Research
        11.2 North America Market Research (Million / $Billion)
            11.2.1 Segment type Size and Market Size Analysis
            11.2.2 Revenue and Trends
            11.2.3 Application Revenue and Trends by type of Application
            11.2.4 Company Revenue and Product Analysis
            11.2.5 North America Product type and Application Market Size
                  11.2.5.1 U.S
                  11.2.5.2 Canada
                  11.2.5.3 Mexico
                  11.2.5.4 Rest of North America
        11.3 Business Process Outsourcing- South America Segment Research
        11.4 South America Market Research (Market Size -$Million / $Billion)
            11.4.1 Segment type Size and Market Size Analysis
            11.4.2 Revenue and Trends
            11.4.3 Application Revenue and Trends by type of Application
            11.4.4 Company Revenue and Product Analysis
            11.4.5 South America Product type and Application Market Size
                  11.4.5.1 Brazil
                  11.4.5.2 Venezuela
                  11.4.5.3 Argentina
                  11.4.5.4 Ecuador
                  11.4.5.5 Peru
                  11.4.5.6 Colombia
                  11.4.5.7 Costa Rica
                  11.4.5.8 Rest of South America
        11.5 Business Process Outsourcing- Europe Segment Research
        11.6 Europe Market Research (Market Size -$Million / $Billion)
            11.6.1 Segment type Size and Market Size Analysis
            11.6.2 Revenue and Trends
            11.6.3 Application Revenue and Trends by type of Application
            11.6.4 Company Revenue and Product Analysis
            11.6.5 Europe Segment Product type and Application Market Size
                  11.6.5.1 U.K
                  11.6.5.2 Germany
                  11.6.5.3 Italy
                  11.6.5.4 France
                  11.6.5.5 Netherlands
                  11.6.5.6 Belgium
                  11.6.5.7 Denmark
                  11.6.5.8 Spain
                  11.6.5.9 Rest of Europe
        11.7 Business Process Outsourcing - APAC Segment Research
        11.8 APAC Market Research (Market Size -$Million / $Billion)
            11.8.1 Segment type Size and Market Size Analysis
            11.8.2 Revenue and Trends
            11.8.3 Application Revenue and Trends by type of Application
            11.8.4 Company Revenue and Product Analysis
            11.8.5 APAC Segment - Product type and Application Market Size
                  11.8.5.1 China
                  11.8.5.2 Australia
                  11.8.5.3 Japan
                  11.8.5.4 South Korea
                  11.8.5.5 India
                  11.8.5.6 Taiwan
                  11.8.5.7 Malaysia
                  11.8.5.8 Hong kong
                  11.8.5.9 Rest of APAC
        11.9 Business Process Outsourcing - Middle East Segment and Africa Segment Research
        11.10 Middle East & Africa Market Research (Market Size -$Million / $Billion)
            11.10.1 Segment type Size and Market Size Analysis
            11.10.2 Revenue and Trend Analysis
            11.10.3 Application Revenue and Trends by type of Application
            11.10.4 Company Revenue and Product Analysis
            11.10.5 Middle East Segment Product type and Application Market Size
                  11.10.5.1 Israel
                  11.10.5.2 Saudi Arabia
                  11.10.5.3 UAE
            11.10.6 Africa Segment Analysis
                  11.10.6.1 South Africa
                  11.10.6.2 Rest of Middle East & Africa
12. Business Process Outsourcing Market - Entropy
        12.1 New product launches
        12.2 M&A s, collaborations, JVs and partnerships
13. Business Process Outsourcing Market - Industry / Segment Competition landscape Premium
        13.1 Market Share Analysis
            13.1.1 Market Share by Country- Top companies
            13.1.2 Market Share by Region- Top 10 companies
            13.1.3 Market Share by type of Application - Top 10 companies
            13.1.4 Market Share by type of Product / Product category- Top 10 companies
            13.1.5 Market Share at global level - Top 10 companies
            13.1.6 Best Practises for companies
14. Business Process Outsourcing Market - Key Company List by Country Premium
15. Business Process Outsourcing Market Company Analysis
        15.1 Market Share, Company Revenue, Products, M&A, Developments
15.2 Infosys Limited
15.3 Hcl Technology Limited
15.4 Cbre Group, Inc
15.5 Ncr Corporation
15.6 Wipro Limited
15.7 Capgemini
15.8 Ttec Holdings, Inc
15.9 Sodexo
15.10 Amdocs
        15.11 Company 10
        15.12 Company 11 & More
*Financials would be provided on a best efforts basis for private companies
16. Business Process Outsourcing Market - Appendix
        16.1 Abbreviations
        16.2 Sources
17. Business Process Outsourcing Market - Methodology
        17.1 Research Methodology
            17.1.1 Company Expert Interviews
            17.1.2 Industry Databases
            17.1.3 Associations
            17.1.4 Company News
            17.1.5 Company Annual Reports
            17.1.6 Application Trends
            17.1.7 New Products and Product database
            17.1.8 Company Transcripts
            17.1.9 R&D Trends
            17.1.10 Key Opinion Leaders Interviews
            17.1.11 Supply and Demand Trends

LIST OF TABLES

1.Global Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
1.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Global Industry Research
1.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Global Industry Research
1.3 Healthcare Market 2019-2024 ($M) - Global Industry Research
1.4 Manufacturing Market 2019-2024 ($M) - Global Industry Research
1.5 It Telecommunication Market 2019-2024 ($M) - Global Industry Research
1.6 Retail Market 2019-2024 ($M) - Global Industry Research
2.Global Competitive Landscape Market 2019-2024 ($M)
2.1 Infosys Limited Market 2019-2024 ($M) - Global Industry Research
2.2 Hcl Technology Limited Market 2019-2024 ($M) - Global Industry Research
2.3 Cbre Group, Inc Market 2019-2024 ($M) - Global Industry Research
2.4 Ncr Corporation Market 2019-2024 ($M) - Global Industry Research
2.5 Wipro Limited Market 2019-2024 ($M) - Global Industry Research
2.6 Capgemini Market 2019-2024 ($M) - Global Industry Research
2.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Global Industry Research
2.8 Sodexo Market 2019-2024 ($M) - Global Industry Research
2.9 Amdocs Market 2019-2024 ($M) - Global Industry Research
3.Global Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 (Volume/Units)
3.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 (Volume/Units) - Global Industry Research
3.2 Banking, Financial Services, And Insurance Market 2019-2024 (Volume/Units) - Global Industry Research
3.3 Healthcare Market 2019-2024 (Volume/Units) - Global Industry Research
3.4 Manufacturing Market 2019-2024 (Volume/Units) - Global Industry Research
3.5 It Telecommunication Market 2019-2024 (Volume/Units) - Global Industry Research
3.6 Retail Market 2019-2024 (Volume/Units) - Global Industry Research
4.Global Competitive Landscape Market 2019-2024 (Volume/Units)
4.1 Infosys Limited Market 2019-2024 (Volume/Units) - Global Industry Research
4.2 Hcl Technology Limited Market 2019-2024 (Volume/Units) - Global Industry Research
4.3 Cbre Group, Inc Market 2019-2024 (Volume/Units) - Global Industry Research
4.4 Ncr Corporation Market 2019-2024 (Volume/Units) - Global Industry Research
4.5 Wipro Limited Market 2019-2024 (Volume/Units) - Global Industry Research
4.6 Capgemini Market 2019-2024 (Volume/Units) - Global Industry Research
4.7 Ttec Holdings, Inc Market 2019-2024 (Volume/Units) - Global Industry Research
4.8 Sodexo Market 2019-2024 (Volume/Units) - Global Industry Research
4.9 Amdocs Market 2019-2024 (Volume/Units) - Global Industry Research
5.North America Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
5.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Regional Industry Research
5.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Regional Industry Research
5.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
5.4 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
5.5 It Telecommunication Market 2019-2024 ($M) - Regional Industry Research
5.6 Retail Market 2019-2024 ($M) - Regional Industry Research
6.North America Competitive Landscape Market 2019-2024 ($M)
6.1 Infosys Limited Market 2019-2024 ($M) - Regional Industry Research
6.2 Hcl Technology Limited Market 2019-2024 ($M) - Regional Industry Research
6.3 Cbre Group, Inc Market 2019-2024 ($M) - Regional Industry Research
6.4 Ncr Corporation Market 2019-2024 ($M) - Regional Industry Research
6.5 Wipro Limited Market 2019-2024 ($M) - Regional Industry Research
6.6 Capgemini Market 2019-2024 ($M) - Regional Industry Research
6.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Regional Industry Research
6.8 Sodexo Market 2019-2024 ($M) - Regional Industry Research
6.9 Amdocs Market 2019-2024 ($M) - Regional Industry Research
7.South America Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
7.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Regional Industry Research
7.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Regional Industry Research
7.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
7.4 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
7.5 It Telecommunication Market 2019-2024 ($M) - Regional Industry Research
7.6 Retail Market 2019-2024 ($M) - Regional Industry Research
8.South America Competitive Landscape Market 2019-2024 ($M)
8.1 Infosys Limited Market 2019-2024 ($M) - Regional Industry Research
8.2 Hcl Technology Limited Market 2019-2024 ($M) - Regional Industry Research
8.3 Cbre Group, Inc Market 2019-2024 ($M) - Regional Industry Research
8.4 Ncr Corporation Market 2019-2024 ($M) - Regional Industry Research
8.5 Wipro Limited Market 2019-2024 ($M) - Regional Industry Research
8.6 Capgemini Market 2019-2024 ($M) - Regional Industry Research
8.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Regional Industry Research
8.8 Sodexo Market 2019-2024 ($M) - Regional Industry Research
8.9 Amdocs Market 2019-2024 ($M) - Regional Industry Research
9.Europe Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
9.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Regional Industry Research
9.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Regional Industry Research
9.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
9.4 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
9.5 It Telecommunication Market 2019-2024 ($M) - Regional Industry Research
9.6 Retail Market 2019-2024 ($M) - Regional Industry Research
10.Europe Competitive Landscape Market 2019-2024 ($M)
10.1 Infosys Limited Market 2019-2024 ($M) - Regional Industry Research
10.2 Hcl Technology Limited Market 2019-2024 ($M) - Regional Industry Research
10.3 Cbre Group, Inc Market 2019-2024 ($M) - Regional Industry Research
10.4 Ncr Corporation Market 2019-2024 ($M) - Regional Industry Research
10.5 Wipro Limited Market 2019-2024 ($M) - Regional Industry Research
10.6 Capgemini Market 2019-2024 ($M) - Regional Industry Research
10.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Regional Industry Research
10.8 Sodexo Market 2019-2024 ($M) - Regional Industry Research
10.9 Amdocs Market 2019-2024 ($M) - Regional Industry Research
11.APAC Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
11.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Regional Industry Research
11.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Regional Industry Research
11.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
11.4 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
11.5 It Telecommunication Market 2019-2024 ($M) - Regional Industry Research
11.6 Retail Market 2019-2024 ($M) - Regional Industry Research
12.APAC Competitive Landscape Market 2019-2024 ($M)
12.1 Infosys Limited Market 2019-2024 ($M) - Regional Industry Research
12.2 Hcl Technology Limited Market 2019-2024 ($M) - Regional Industry Research
12.3 Cbre Group, Inc Market 2019-2024 ($M) - Regional Industry Research
12.4 Ncr Corporation Market 2019-2024 ($M) - Regional Industry Research
12.5 Wipro Limited Market 2019-2024 ($M) - Regional Industry Research
12.6 Capgemini Market 2019-2024 ($M) - Regional Industry Research
12.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Regional Industry Research
12.8 Sodexo Market 2019-2024 ($M) - Regional Industry Research
12.9 Amdocs Market 2019-2024 ($M) - Regional Industry Research
13.MENA Business Process Outsourcing Market:End-Use Outlook Market 2019-2024 ($M)
13.1 Business Process Outsourcing Market Estimate Forecast By End Use Market 2019-2024 ($M) - Regional Industry Research
13.2 Banking, Financial Services, And Insurance Market 2019-2024 ($M) - Regional Industry Research
13.3 Healthcare Market 2019-2024 ($M) - Regional Industry Research
13.4 Manufacturing Market 2019-2024 ($M) - Regional Industry Research
13.5 It Telecommunication Market 2019-2024 ($M) - Regional Industry Research
13.6 Retail Market 2019-2024 ($M) - Regional Industry Research
14.MENA Competitive Landscape Market 2019-2024 ($M)
14.1 Infosys Limited Market 2019-2024 ($M) - Regional Industry Research
14.2 Hcl Technology Limited Market 2019-2024 ($M) - Regional Industry Research
14.3 Cbre Group, Inc Market 2019-2024 ($M) - Regional Industry Research
14.4 Ncr Corporation Market 2019-2024 ($M) - Regional Industry Research
14.5 Wipro Limited Market 2019-2024 ($M) - Regional Industry Research
14.6 Capgemini Market 2019-2024 ($M) - Regional Industry Research
14.7 Ttec Holdings, Inc Market 2019-2024 ($M) - Regional Industry Research
14.8 Sodexo Market 2019-2024 ($M) - Regional Industry Research
14.9 Amdocs Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Business Process Outsourcing Market Revenue, 2019-2024 ($M)
2.Canada Business Process Outsourcing Market Revenue, 2019-2024 ($M)
3.Mexico Business Process Outsourcing Market Revenue, 2019-2024 ($M)
4.Brazil Business Process Outsourcing Market Revenue, 2019-2024 ($M)
5.Argentina Business Process Outsourcing Market Revenue, 2019-2024 ($M)
6.Peru Business Process Outsourcing Market Revenue, 2019-2024 ($M)
7.Colombia Business Process Outsourcing Market Revenue, 2019-2024 ($M)
8.Chile Business Process Outsourcing Market Revenue, 2019-2024 ($M)
9.Rest of South America Business Process Outsourcing Market Revenue, 2019-2024 ($M)
10.UK Business Process Outsourcing Market Revenue, 2019-2024 ($M)
11.Germany Business Process Outsourcing Market Revenue, 2019-2024 ($M)
12.France Business Process Outsourcing Market Revenue, 2019-2024 ($M)
13.Italy Business Process Outsourcing Market Revenue, 2019-2024 ($M)
14.Spain Business Process Outsourcing Market Revenue, 2019-2024 ($M)
15.Rest of Europe Business Process Outsourcing Market Revenue, 2019-2024 ($M)
16.China Business Process Outsourcing Market Revenue, 2019-2024 ($M)
17.India Business Process Outsourcing Market Revenue, 2019-2024 ($M)
18.Japan Business Process Outsourcing Market Revenue, 2019-2024 ($M)
19.South Korea Business Process Outsourcing Market Revenue, 2019-2024 ($M)
20.South Africa Business Process Outsourcing Market Revenue, 2019-2024 ($M)
21.North America Business Process Outsourcing By Application
22.South America Business Process Outsourcing By Application
23.Europe Business Process Outsourcing By Application
24.APAC Business Process Outsourcing By Application
25.MENA Business Process Outsourcing By Application