Business Process Outsourcing (BPO) Market
Global Business Process Outsourcing (BPO) Market Size, Share & Trends Analysis Report by Service Type (Finance & Accounting, HR, KPO, Procurement, Customer Services, and Others), by Deployment Model (Cloud and On-Premises), and by End-User (BFSI, Healthcare, Manufacturing, IT & Telecommunication, Retail, Energy & Utilities, and Others) Forecast (2022-2028) Update Available - Forecast 2024-2030
The global BPO market is anticipated to grow at a significant CAGR of 7.8 % during the forecast period. With the growing demand for increasing operational efficiency to remain competitive, businesses are adopting third-party BPO service providers, which is propelling the growth of the market. Outsourcing provides businesses to access skilled people at a fraction of the cost. By allocating tasks to the outsourced workers, businesses have more time to focus on the core mission without having to supervise them. Moreover, Outsourcing through third party help businesses to streamline and perfect internal business processes, improves customer service, and focus on core businesses, which is effectively driving the growth of the market.
Impact of COVID-19 Pandemic on Global Business Process Outsourcing (BPO) Market
Every business across the world has been affected by the adverse impact of the COVID-19 pandemic. The COVID-19 pandemic had turned the localization assumption on its head. Service Providers, their clients, and companies with in-house shared services centers performing business process work around the globe have leveraged a range of strategies to keep their businesses afloat while putting employee safety at the center of their efforts. In this scenario, business process outsourcing helped businesses to focus on the core business easily while the outsourcing agencies will take care of the other functions of their clients.
Segmental Outlook
The global BPO market is segmented based on the service type, deployment model, and end-user. Based on the service type, the market is sub-segmented into finance & accounting, HR, KPO, procurement, customer services, and others. Based on the deployment model, the market is sub-bifurcated into the cloud and on-premises. Based on the end-user, the market is augmented into the BFSI, healthcare, manufacturing, IT & telecommunication, retail, energy & utilities, and others. among all segments, the HR segment is expected to hold a considerable share in the market over the forecast. The increasing growing need for resources across the globe for different purposes such as recruitment, relocation, payment processing, and others are expected to fuel the growth of the BPO market.
Global Business Process Outsourcing Market Share by End-User, 2021 (%)
The BFSI Segment is Expected to Hold the Prominent Share in the Global Business Process Outsourcing Market
Among all segments, BFSI is expected to hold a prominent share in the business process outsourcing market. The increasing need for operational efficiency & transparency in the business process is driving the growth of the market. Moreover, the surge in the adoption of cloud communication-based business process outsourcing in banks and other financial institutions is another key factor propelling the growth of the market.
Regional Outlooks
The global BPO market is further segmented based on geography including North America (the US, and Canada), Europe (Italy, Spain, Germany, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America). The market can be analyzed for a particular region or country level as per the requirement. The North America region is expected to hold a significant share in the market over the forecast. Due to presence of large technology firms across the region is propelling the growth of the market. firms operating in the region are continuously capitalizing on advanced technologies such as AI, ML to provide BPO services to their clients is another factor supporting the growth of the market.
Global Business Process Outsourcing Market Growth, by Region 2022-2028
The Asia-Pacific Region Holds the Prominent Share in the Global Business Process Outsourcing Market
The Asia-Pacific region is expected to hold a prominent share in the market over the forecast. The increasing digital economy across the countries with customer care technologies such as automated IVR and chatbots for customer care is propelling the growth of the business process outsourcing market over the forecast. Moreover, the players are leveraging inter-connected business process outsourcing services to prove quality services to customers and stay competitive in the economy. For instance, in January 2019, One Equity Partners completed its investment in OneLink, which is a leading provider of business process outsourcing (BPO) services.
Market Players Outlook
The major companies serving the global BPO market include Accenture Plc, Capgemini SE, Genpact Ltd., Capita Plc, CBRE Group Inc., Ceridian HCM, Inc., CGI Group, Inc., DXC Technology Co., EXLService Holdings, Inc., HCL Technologies Ltd, and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in June 2021, The India Business Process Outsourcing Promotion Scheme (IBPS) launched by the Centre has facilitated the expansion of several IT and BPO companies in tier-II and III cities across the country. The scheme has helped thousands of local youths get employment at their native places and also helped in attracting investments in the regions. It has led to the establishment of BPOs in cities untouched by BPO/ITES sectors.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global business process outsourcing (BPO) market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Business Process Outsourcing (BPO) Market
• Recovery Scenario of Global Business Process Outsourcing (BPO) Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Accenture plc
3.1.1. Overview
3.1.2. Financial Analysis
3.1.3. SWOT Analysis
3.1.4. Recent Developments
3.2. Capgemini SE
3.2.1. Overview
3.2.2. Financial Analysis
3.2.3. SWOT Analysis
3.2.4. Recent Developments
3.3. Cognizant Technology Solutions Corp.
3.3.1. Overview
3.3.2. Financial Analysis
3.3.3. SWOT Analysis
3.3.4. Recent Developments
3.4. Genpact
3.4.1. Overview
3.4.2. Financial Analysis
3.4.3. SWOT Analysis
3.4.4. Recent Developments
3.5. Infosys BPM
3.5.1. Overview
3.5.2. Financial Analysis
3.5.3. SWOT Analysis
3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Business Process Outsourcing Market by Service Type
4.1.1. Finance & Accounting
4.1.2. HR
4.1.3. KPO
4.1.4. Procurement
4.1.5. Customer Services
4.1.6. Others
4.2. Global Business Process Outsourcing Market by Deployment Model
4.2.1. Cloud
4.2.2. On-Premises
4.3. Global Business Process Outsourcing Market by End-User
4.3.1. BFSI
4.3.2. Healthcare
4.3.3. Manufacturing
4.3.4. IT & Telecommunication
4.3.5. Retail
4.3.6. Energy Utilities
4.3.7. Others
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Alight Solutions LLC
6.2. AMDATEX (American Data Exchange)
6.3. Amdocs
6.4. Atos SE
6.5. Automatic Data Processing, Inc.
6.6. Capita plc
6.7. CBRE Group, Inc.
6.8. Ceridian HCM Holding, Inc.
6.9. CGI Inc.
6.10. DXC Technology
6.11. EXLService
6.12. HCL Technologies
6.13. International Business Machines Corp.
6.14. KARVY Global Services
6.15. NGA Human Resources
6.16. NCR Corp.
6.17. NTT DATA Corp.
6.18. Randstad NV
6.19. Sopra Steria
6.20. Sodexo
6.21. StarTek, Inc.
6.22. Tata Consultancy Services Ltd.
6.23. TriNet Group, Inc.
6.24. TTEC Holdings, Inc.
6.25. Wipro Ltd.
6.26. WNS Ltd.
LIST OF TABLES
1. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY SERVICE TYPE, 2021-2028 ($ MILLION)
2. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR FINANCE & ACCOUNTING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR HR MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR KPO MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
5. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR PROCUREMENT MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR CUSTOMER SERVICES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
8. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028 ($ MILLION)
9. GLOBAL CLOUD BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL ON-PREMISE BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
11. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
12. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR BFSI MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
13. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR HEALTHCARE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
14. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR MANUFACTURING MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
15. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR IT & TELECOMMUNICATION MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
16. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR RETAIL MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
17. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR ENERGY & UTILITIES MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
18. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR OTHER MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
19. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
20. NORTH AMERICAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
21. NORTH AMERICAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY SERVICE TYPE, 2021-2028 ($ MILLION)
22. NORTH AMERICAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028 ($ MILLION)
23. NORTH AMERICAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
24. EUROPEAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
25. EUROPEAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY SERVICE TYPE, 2021-2028 ($ MILLION)
26. EUROPEAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028 ($ MILLION)
27. EUROPEAN BUSINESS PROCESS OUTSOURCING MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
28. ASIA-PACIFIC BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
29. ASIA-PACIFIC BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY SERVICE TYPE , 2021-2028 ($ MILLION)
30. ASIA-PACIFIC BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028 ($ MILLION)
31. ASIA-PACIFIC BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
32. REST OF THE WORLD BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
33. REST OF THE WORLD BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY SERVICE TYPE , 2021-2028 ($ MILLION)
34. REST OF THE WORLD BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY DEPLOYMENT MODEL, 2021-2028 ($ MILLION)
35. REST OF THE WORLD BUSINESS PROCESS OUTSOURCING (BPO) MARKET RESEARCH AND ANALYSIS BY END-USER, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, 2022-2028 (%)
4. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY SERVICE TYPE, 2021 VS 2028 (%)
5. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR FINANCE & ACCOUNTING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR HR MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR KPO MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
8. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR PROCUREMENT MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR CUSTOMER SERVICES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR OTHER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
11. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY DEPLOYMENT MODEL, 2021 VS 2028 (%)
12. GLOBAL CLOUD BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL ON-PREMISE BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY END-USER, 2021 VS 2028 (%)
15. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR BFSI MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
16. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR HEALTHCARE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
17. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR MANUFACTURING MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
18. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR IT & TELECOMMUNICATION MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
19. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR RETAIL MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
20. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR ENERGY UTILITIES MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
21. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) FOR OTHER MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
22. GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
23. US BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
24. CANADA BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
25. UK BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
26. FRANCE BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
27. GERMANY BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
28. ITALY BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
29. SPAIN BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
30. REST OF EUROPE BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
31. INDIA BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
32. CHINA BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
33. JAPAN BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
34. SOUTH KOREA BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
35. REST OF ASIA-PACIFIC BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
36. REST OF THE WORLD BUSINESS PROCESS OUTSOURCING (BPO) MARKET SIZE, 2021-2028 ($ MILLION)
