Business Process Outsourcing Market Size, BPO Sector / Industry Report & Analysis, 2025 (Includes Business Impact of COVID-19)

                                          
Abstract, Snapshot, Market Analysis & Market Definition: Global Business Process Outsourcing Market


The global Business Process Outsourcing market size is projected to reach US$ 371.12 billion by 2026, from US$ 241.82 billion in 2020, at a CAGR of 7.4% during 2021-2026. Players in the market are engaged in providing reliable and cost-effective services across various sectors such as BFSI, manufacturing, retail, IT and telecommunications, and healthcare. Companies operating in these industries prefer to incorporate business process outsourcing as part of their business strategy, in order to allow them to focus on their core competencies and ultimately increase their profitability.

Business activities of any organization are classified into critical, core, and non-core activities. Core activities are a companys primary competencies that give it a strategic advantage, while critical operations require a specialized skill-set. Non-core activities are supporting operations that largely involve relationship management between consumers and products. Classifying these activities is vital in order to allocate resources appropriately to ensure timely delivery services. Nowadays, companies have begun placing greater emphasis on core activities with a view to maintain their market presence and expand their customer base. This has resulted in higher outsourcing of non-core activities.

Companies engaging in business process outsourcing can choose to outsource specific services or business functions based on individual requirements. These include payroll, IT, logistics, and legal services. Reduction in labor costs as well as reducing and/or eliminating overheads arising from human resource and equipment are some of the potential benefits of outsourcing.

Services such as training and recruitment require additional effort and time. Owing to this, some companies prefer to outsource human resources services. For instance, Accenture is one of the pioneers in offering human resources and finance and accounting services. The companys HR services include workforce performance, recruitment, payroll, benefits and compensation, and several learning and employee services. The company caters to clients such as Microsoft, General Motors, IBM, and Goodyear.

Market Segmentation, Outlook & Viewpoint: Global Business Process Outsourcing Market

Service Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Finance & Accounting
  
Human Resources
  
Knowledge Process Outsourcing
  
Procurement Outsourcing & Supply Chain
  
Customer Services
  
Others

End-use Market Segmentation & Outlook (Revenue, USD Billion, 2014 - 2025)

  
Banking, Financial Services, and Insurance (BFSI)
  
Healthcare
  
Manufacturing
  
IT & Telecommunication
  
Retail
  
Others

Key Players, Recent Developments & Regional Insights: Global Business Process Outsourcing Market

The Europe business process outsourcing market accounted for more than 25.0% of the global revenue in 2017. Growth in the regional market is accredited to flexibility and customization of service offerings in order to better meet individual needs, coupled with rising demand for cloud computing technology.

The Latin America BPO market is projected to exhibit a CAGR exceeding 5.0% over the forecast period. This growth is ascribable to rapid expansion of the manufacturing and consumer packaged goods (CPG) industries in this region. Additionally, increasing support from the government toward promotion of English language learning programs in order to gain attraction from global service providers is anticipated to propel market growth.

Business Process Outsourcing Market Share Insights

Competition in the market results from presence of major global players such as Accenture, Infosys Limited, HCL, Wipro, Capgemini, and Amdocs. A diverse range of services allows companies to gain a competitive edge in the market. Capgemini, one of the pioneers in the BPO industry, is engaged in offering multiple services such as financial services, supply chain and procurement, and business analytics.

Companies are focusing on setting up new BPO centers across the globe to expand their market presence and augment their existing customer base. For instance, in September 2017, Infosys Limited announced the establishment of a new service center in the Netherlands. This office will be engaged in providing finance and accounting and other end-to-end outsourcing services.

Key Insights Covered: Global Business Process Outsourcing Market

1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Business Process Outsourcing industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Business Process Outsourcing industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Business Process Outsourcing industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Business Process Outsourcing industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Business Process Outsourcing industry.

Research Methodology: Global Business Process Outsourcing Market

  
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
  
Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
  
Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other