BPO is a segment of outsourcing, which consists of subcontracting the business processes of an organization to a third-party vendor that has expertise in required domains. It is an effective strategy of delegating one or more business activities to external companies (vendors), which, in turn, administer and manage the selected activity, based on defined and measurable performance criteria. It helps client firms to increase their operational efficiency, concentrate on their core competencies, reduce time to market, obtain access to fresh talent and experience along with latest technologies, and build an organization with an economical cost structure in the long run.
Scope of the Report:This report studies the BPO market status and outlook of Global and major regions, from angles of players, countries, product types and end industries; this report analyzes the top players in global market, and splits the BPO market by product type and applications/end industries.
Human labor is required in most business processes for productive delivery. Resorting to BPO which provides human labor at a lower cost helps companies maximize their ROI in such a situation. Growing competition also demands continuous innovation. By outsourcing some tasks, companies can focus more on their core activities to bring about innovation in their products as well as services. Furthermore, developments in IT and telecommunications infrastructure have enabled companies to transfer data to any place in the world. One of the major restraints to the growth of this market is the issue of security of valuable data. The client firm provides sensitive data to the service provider firm, which if misused can prove to be harmful to the interests of the client firm. Other factors such as loss of control of operations of processes, financial instability of the vendors, loss of expertise, etc. are some of the restraints to the growth of the BPO market. Problem of high attrition rates amongst workers is also one of the challenges faced by the BPO industry as the workers show a tendency of not pursuing BPO as a full time career.Ê
The global BPO market is valued at xx million USD in 2017 and is expected to reach xx million USD by the end of 2023, growing at a CAGR of xx% between 2017 and 2023.
The Asia-Pacific will occupy for more market share in following years, especially in China, also fast growing India and Southeast Asia regions.
North America, especially The United States, will still play an important role which cannot be ignored. Any changes from United States might affect the development trend of BPO.
Europe also play important roles in global market, with market size of xx million USD in 2017 and will be xx million USD in 2023, with a CAGR of xx%.
Market Segment by Companies, this report covers Accenture
Capgemini
Genpact
IBM
Tata Consultancy Services
3i Infotech
Market Segment by Regions, regional analysis covers North America (United States, Canada and Mexico)
Europe (Germany, France, UK, Russia and Italy)
Asia-Pacific (China, Japan, Korea, India and Southeast Asia)
South America (Brazil, Argentina, Colombia)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
Market Segment by Type, covers Finance & Accounting
Customer Services
HR Outsourcing
KPO
Procurement Outsourcing
Market Segment by Applications, can be divided into Manufacturing
Telecommunications & Technology
Banking
Insurance & Finance Services
Retail
Others
Frequently Asked Questions
The base year for the study has been considered 2019, historic year 2014 and 2018, the forecast period considered is from 2020 to 2027. The regions analyzed for the market include North America, Europe, South America, Asia Pacific, and Middle East and Africa. These regions are further analyzed at the country-level. The study also includes attractiveness analysis of type, application and regions which are benchmarked based on their market size, growth rate and attractiveness in terms of present and future opportunity for understanding the future growth of the market.
Market is segmented on the basis:
- By Type
- By Application
- By Region
- By Country
- By Manufacturer
The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The report emphasizes on all the key trends that play a vital role in the enlargement of the market from 2019 to 2026.
The report provides company profile of the key players operating in the market and a comparative analysis based on their business overviews industry offering, segment market share, regional presence, business strategies, innovations, mergers & acquisitions, recent developments, joint venture, collaborations, partnerships, SWOT analysis, and key financial information.
