ICT

Business Process Outsourcing Services Market

Business Process Outsourcing Services Market Research Report: Size, Share, Trend Analysis Type (IT Outsourcing, Finance and Accounting Outsourcing, Back Office Outsourcing, E-Commerce Support Services, Training & Development Outsourcing, Human Resource & Recruitment Outsourcing), Deployment (On-Premise, Cloud), Organization Size (Small- and Medium-Sized Enterprises, Large Enterprises), Vertical (BFSI, IT & Telecom, Government & Defence, Manufacturing, Retail, Healthcare) and By Region (South America, North America, Europe, Asia Pacific, Middle East and Africa) - Growth Outlook & Industry Forecast To 2024

Vertical: ICTBase Year: 20189 Sections

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Executive Summary

Business Process Outsourcing Services Market — Snapshot

  • Market Size (2018)

    2018

    $186.22M

  • Projected (2024)

    2024

    $335.23M

  • CAGR (2018–2024)

    10.3%

  • Key Players

    15+

Business process outsourcing is a model where some of the business processes are outsourced to third-party service providers on a contractual basis. Processes like human resources, financial & accounting, customer management, supply chain management are widely outsourced to third-party BPO providers. The growing need to increase operational efficiency in order to remain competitive in the market is one of the key factors that enterprises are turning to third-party BPO service providers. Companies operating in the market are heavily investing in the development of advanced technologies like analytics, big data, cloud computing, and artificial intelligence (AI) in order to provide comprehensive BPO services to its clients. The market is dominated by a few big players, however, new players are entering the market due to revenue opportunities in regions like Asia-Pacific, the Middle East and Africa, and South America. The entry of new players is expected to increase the competition in the market.

The global business process outsourcing (BPO) market is expected to reach USD 335.2 billion by the end of 2024, with 10.8% CAGR during the forecast period, 2019–2024.

Key Insight

The Business Process Outsourcing Services Market market is projected to grow at a CAGR of 10.3% from 2018 to 2024.

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Market Scope & Coverage

What this report covers

  • Geographic Coverage: This analysis covers 5 regions: South America, North America, Europe, Asia Pacific, Middle East and Africa.
  • Market Segmentation: The market is analyzed across 8 segments: IT Outsourcing, Finance and Accounting Outsourcing, Back Office Outsourcing, Human Resource & Recruitment Outsourcing, Training & Development Outsourcing, E-Commerce Support Services, Procurement Outsourcing, Others. Forecasts are provided for each segment from 2018 to 2024.
  • Competitive Landscape: 15 leading companies are profiled, covering market positioning, strategies, and recent developments.

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Business Process Outsourcing Services Market

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