Middle East & Africa Core Banking Solution Market, by Services, 2017-2025
Global Business Process Outsourcing Services market [2018-2024] Middle East and Africa by Type
By Type, the market is segmented into IT Outsourcing, Finance and Accounting Outsourcing, Back Office Outsourcing, E-Commerce Support Services, Training & Development Outsourcing, Human Resource & Recruitment Outsourcing, Procurement Outsourcing, and Others (2018-2024)
| Label | IT Outsourcing | Finance and Accounting Outsourcing | Back Office Outsourcing | E-Commerce Support Services | Training & Development Outsourcing | Human Resource & Recruitment Outsourcing | Procurement Outsourcing | Others |
|---|---|---|---|---|---|---|---|---|
| 2018 | 2.62 USD Bn | 1.02 USD Bn | 0.87 USD Bn | 0.3 USD Bn | 0.34 USD Bn | 0.53 USD Bn | 0.21 USD Bn | 0.17 USD Bn |
| 2019 | 2.91 USD Bn | 1.13 USD Bn | 0.97 USD Bn | 0.35 USD Bn | 0.39 USD Bn | 0.61 USD Bn | 0.24 USD Bn | 0.19 USD Bn |
| 2020 | 3.28 USD Bn | 1.28 USD Bn | 1.09 USD Bn | 0.41 USD Bn | 0.45 USD Bn | 0.72 USD Bn | 0.29 USD Bn | 0.23 USD Bn |
| 2021 | 3.72 USD Bn | 1.46 USD Bn | 1.24 USD Bn | 0.49 USD Bn | 0.53 USD Bn | 0.85 USD Bn | 0.36 USD Bn | 0.26 USD Bn |
| 2022 | 4.26 USD Bn | 1.68 USD Bn | 1.42 USD Bn | 0.59 USD Bn | 0.62 USD Bn | 1.01 USD Bn | 0.44 USD Bn | 0.31 USD Bn |
| 2023 | 4.9 USD Bn | 1.95 USD Bn | 1.64 USD Bn | 0.71 USD Bn | 0.74 USD Bn | 1.21 USD Bn | 0.54 USD Bn | 0.37 USD Bn |
| 2024 | 5.65 USD Bn | 2.26 USD Bn | 1.89 USD Bn | 0.86 USD Bn | 0.88 USD Bn | 1.45 USD Bn | 0.67 USD Bn | 0.44 USD Bn |
Data Source: Wantstats Repository
Market Dynamics
it outsourcing segment accounted for the largest market share in 2018, this market is expected to reach USD 5.65 Billion in 2024 from USD 2.62 Billion in 2018. This market is projected to grow at a CAGR of 14.19% during the forecast period from 2019 - 2024. However, procurement outsourcing segment is the fastest growing market, which is expected to grow at a CAGR of 22.79% during the forecast period 2019 - 2024. it outsourcing segment accounted for the largest market share in the business process outsourcing services market, and is expected to reach USD 5.65 Billion in 2024 from USD 2.62 Billion in 2018. However, procurement outsourcing segment is the fastest growing market, which is expected to grow at a CAGR of 22.79% during the forecast period 2019 - 2024.
Research Methodology
Figures reflect Wantstats’ original market research and forecasting models, compiled as part of the Wantstats research archive and published in 2023.
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