Knowledge Process Outsourcing Market
Knowledge Process Outsourcing Market Size, Share & Trends Analysis Report by Services (Market Research & Data Analytics, Customer & Marketing Analytics, Operations & Supply Chain Analytics, Legal Process Outsourcing, Financial Process Outsourcing, Publishing Outsourcing, and Others), and by Application (BFSI, Healthcare, IT & Telecom, Retail, and Others) Forecast Period (2024-2031)
Knowledge process outsourcing market is anticipated to grow at a significant CAGR of 18.3% during the forecast period (2024-2031). The market growth is attributed to pivotal factors such as digital transformation, advanced analytics, and a shift towards cloud-based work platforms. Outsourcing companies are shifting towards cloud-based work platforms that help in reducing manual work and lead to work automation so the efficiency of employees is improved, which is supporting the growth of the knowledge process outsourcing market. The increasing adoption of cloud services and launches by players are gaining popularity in the market. Outsourcing cloud services to managed service providers can potentially be cost-efficient, attracting businesses to adopt cloud-based outsourcing services. For instance, in February 2022, LEAN, the leading national cloud solutions provider announced the launch of iCloud-managed services. The newly launched service offers a unique solution for organizations looking to focus their IT resources on achieving business objectives.
Market Dynamics
Expertise in the Emerging Technologies
Businesses are increasingly relying on advanced technologies like artificial intelligence (AI), machine learning (ML), blockchain, and data analytics. These technologies are critical for gaining a competitive edge, but implementing and managing them requires highly specialized skills. KPO providers, with their expertise in these emerging technologies, help businesses harness the full potential of innovations without having to invest heavily in hiring or training in-house teams. This is especially beneficial for companies operating in fields such as financial services, healthcare, and IT, where the adoption of AI and data analytics is essential for improving decision-making, operational efficiency, and customer experience. According to the 2022 IBM Global AI Adoption Index, AI adoption and strategy are becoming increasingly prevalent, with 35% of companies using AI in their business operations and an additional 42% exploring AI integration. This represents a steady increase in adoption, up 4% points from 2021. Additionally, AI is playing a crucial role in augmenting the workforce by helping companies address labor and skill shortages through the automation of repetitive tasks. Approximately 30% of global IT professionals report that employees at their organizations are already benefiting from these efficiencies.
KPO leads to Cost Efficency
In knowledge-intensive industries such as analytics and data mining services, research and development, and intellectual property research, companies can save significantly as much as 40-50% by offshoring work to low-wage countries. Countries such as India, China, and Russia are ideal for these services as they provide a large pool of engineers and even PhDs at a substantially lower cost. The increasing focus on cost efficiency, combined with the need for specialized knowledge, makes KPO an attractive solution for organizations aiming to enhance profitability and competitiveness in a rapidly evolving market landscape.
Market Segmentation
- Based on the services, the market is segmented into market research & data analytics, customer & marketing analytics, operations & supply chain analytics, legal process outsourcing, financial process outsourcing, publishing outsourcing, and others.
- Based on the application, the market is segmented into BFSI, healthcare, IT & telecom, retail, and others.
The Market Research & Data Analytics Segment is projected to hold the Largest Market Share
The market research and data analytics segment is expected to contribute to the market growth over the forecast, due to increasing demand for analytical tools and market research to segregate useful information from the raw data available in the large amount. KPO firms specialize in providing advanced analytics, leveraging tools such as predictive modeling, data mining, and business intelligence (BI) platforms to offer actionable insights. These services enable companies to make informed decisions in areas such as market expansion, customer behavior analysis, and operational improvements. By outsourcing these highly specialized tasks, organizations can access cutting-edge analytical capabilities without having to invest in costly in-house teams or infrastructure.
Retail to Hold a Considerable Market Share
Retailers rely heavily on data and insights to understand consumer behavior, optimize supply chains, and meet changing market demands. KPO providers offer specialized services such as market research, customer analytics, inventory management, and demand forecasting, allowing retailers to make data-driven decisions. KPOs can help retailers personalize marketing efforts, predict consumer trends, and improve customer experience, driving overall growth and profitability. By outsourcing functions like vendor management, pricing analysis, and risk assessment, retailers can improve their operational efficiency and reduce costs.
Regional Outlook
The global knowledge process outsourcing market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).
Growing Demand for Knowledge Process Outsourcing in North America
The North American region is expected to be the fastest-growing region over the forecast due to the presence of giant players in the region and increasing activities related to outsourcing across the region are contributing to the growth of the Knowledge process outsourcing market over the forecast. Cognizant Technology Solutions Corp., ExlService Holdings, Inc., McKinsey & Co., and others are some key players in this region.
Global Knowledge Process Outsourcing Market Growth by Region 2024-2031
Asia Pacific Holds Major Market Share
Among all regions, the Asia-Pacific region is expected to hold a considerable share of the market over the forecast. The availability of well-trained professionals with low labor costs ensures high productivity is the key factor propelling the growth of the market. Moreover, due to rising customer demand for high-quality services, which in turn is forcing enterprises to adopt systems and business models that not only provide strategic value to their products and services, but also enhanced operational efficiencies. Countries within the ASEAN region, such as Indonesia, Vietnam, Thailand, and the Philippines, are particularly appealing due to their competitively priced labor and robust regulatory frameworks. Among these nations, the Philippines emerges as a preferred global service provider, owing to its strong cultural ties to the West. The widespread fluency in English among Filipinos, coupled with their inherent hospitality, positions the Philippines as an ideal partner for organizations seeking reliable and effective service solutions.
Market Players Outlook
*Note: Major Players Sorted in No Particular Order.
The major companies serving the knowledge process outsourcing market include Accenture Plc, Genpact Ltd., HCL Technologies Ltd., IBM Corp., and Oracle Corp. among others. The market players are increasingly focusing on business expansion and product development by applying strategies such as collaborations, mergers, and acquisitions to stay competitive in the market.
Recent Development
- In September 2023, Accenture acquired Nautilus Consulting, a leading digital healthcare consultancy in the UK that specializes in Electronic Patient Record (EPR) solutions. The acquisition enhanced Accenture’s digital transformation, implementation, and optimization capabilities across the UK and global healthcare space.
The Report Covers
- Market value data analysis of 2023 and forecast to 2031.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global knowledge process outsourcing market. Based on the availability of data, information related to new products, 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
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 Market Trends
2.2.2. Recommendations
2.2.3. Conclusion
3. Market Determinants
3.1. Market Drivers
3.2. Market Limitations And Challenges
3.3. Market Opportunities
4. Competitive Landscape
4.1. Key Player Strategies
4.2. Key Company Analysis
4.3. Accenture Plc
4.3.1. Overview
4.3.2. Financial Analysis
4.3.3. SWOT Analysis
4.3.4. Recent Developments
4.4. Genpact Ltd.
4.4.1. Overview
4.4.2. Financial Analysis
4.4.3. SWOT Analysis
4.4.4. Recent Developments
4.5. HCL Technologies Ltd.
4.5.1. Overview
4.5.2. Financial Analysis
4.5.3. SWOT Analysis
4.5.4. Recent Developments
4.6. IBM Corp.
4.6.1. Overview
4.6.2. Financial Analysis
4.6.3. SWOT Analysis
4.6.4. Recent Developments
4.7. Oracle Corp.
4.7.1. Overview
4.7.2. Financial Analysis
4.7.3. SWOT Analysis
4.7.4. Recent Developments
4.8. Key Strategy Analysis
5. Market Segmentation
5.1. Global Knowledge Process Outsourcing Market by Services
5.1.1. Market Research and Data Analysis
5.1.2. Customer & Marketing Analytics
5.1.3. Operations & Supply Chain Analytics
5.1.4. Legal Process Outsourcing
5.1.5. Financial Process Outsourcing
5.1.6. Publishing Outsourcing
5.1.7. Others (Engineering and Design, research & development outsourcing)
Consulting Service
5.2. Global Knowledge Process Outsourcing Market by Application
1.1.1. BFSI
1.1.2. Healthcare
1.1.3. IT & Telecom
1.1.4. Retail
1.1.5. Others
6. Regional Analysis
6.1. North America
6.1.1. United States
6.1.2. Canada
6.2. Europe
6.2.1. UK
6.2.2. Germany
6.2.3. Italy
6.2.4. Spain
6.2.5. France
6.2.6. Rest of Europe
6.3. Asia-Pacific
6.3.1. China
6.3.2. India
6.3.3. Japan
6.3.4. South Korea
6.3.5. Rest of Asia-Pacific
6.4. Rest of the World
6.4.1. Latin America
6.4.2. Middle East and Africa
7. Company Profiles
7.1. Cognizant Technology Solutions Corp.
7.1.1. Company overview
7.1.2. Product Analysis
7.1.3. Financial Data
7.1.4. Recent Developments
7.2. Evalueserve
7.2.1. Company overview
7.2.2. Product Analysis
7.2.3. Recent Developments
7.3. ExlService Holdings, Inc
7.3.1. Company overview
7.3.2. Product Analysis
7.3.3. Recent Developments
7.4. Hewlett Packard Enterprise Co.
7.4.1. Company overview
7.4.2. Product Analysis
7.4.3. Recent Developments
7.5. Infosys Limited
7.5.1. Company overview
7.5.2. Product Analysis
7.5.3. Recent Developments
7.6. McKinsey & Co.
7.6.1. Company overview
7.6.2. Product Analysis
7.6.3. Recent Developments
7.7. Moody’s Corp.
7.7.1. Company overview
7.7.2. Product Analysis
7.7.3. Recent Developments
7.8. Mphasis
7.8.1. Company overview
7.8.2. Product Analysis
7.8.3. Recent Developments
7.9. R.R Donnelly & Sons Co.
7.9.1. Company overview
7.9.2. Product Analysis
7.9.3. Recent Developments
7.10. SAP SE
7.10.1. Company overview
7.10.2. Product Analysis
7.10.3. Recent Developments
7.11. Tata Consultancy Services Ltd.
7.11.1. Company overview
7.11.2. Product Analysis
7.11.3. Recent Developments
7.12. Thomson Reuters
7.12.1. Company overview
7.12.2. Product Analysis
7.12.3. Recent Developments
7.13. Wipro Ltd.
7.13.1. Company overview
7.13.2. Product Analysis
7.13.3. Recent Developments
7.14. WNS LTD.
7.14.1. Company overview
7.14.2. Product Analysis
7.14.3. Recent Developments
1. Global Knowledge Process Outsourcing Market Research and Analysis by Services, 2023-2031 ($ Million)
2. Global Market Research & Data Analysis Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
3. Global Customer & Marketing Analytics Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
4. Global Operations & Supply Chain Analytics Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
5. Global Legal Process Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
6. Global Financial Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
7. Global Publishing Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
8. Global Others Knowledge Process Outsourcing Market Research and Analysis by Region, 2023-2031 ($ Million)
9. Global Knowledge Process Outsourcing Market Research and Analysis by Application, 2023-2031 ($ Million)
10. Global Knowledge Process Outsourcing For Bfsi Market Research and Analysis by Region, 2023-2031 ($ Million)
11. Global Knowledge Process Outsourcing For Healthcare Market Research and Analysis by Region, 2023-2031 ($ Million)
12. Global Knowledge Process Outsourcing For It & Telecom Market Research and Analysis by Region, 2023-2031 ($ Million)
13. Global Knowledge Process Outsourcing For Retail Market Research and Analysis by Region, 2023-2031 ($ Million)
14. Global Knowledge Process Outsourcing For Other Market Research and Analysis by Region, 2023-2031 ($ Million)
15. Global Knowledge Process Outsourcing Market Research and Analysis by Geography, 2023-2031 ($ Million)
16. North American Knowledge Process Outsourcing Market Research and Analysis by Country, 2023-2031 ($ Million)
17. North American Knowledge Process Outsourcing Market Research and Analysis by Services, 2023-2031 ($ Million)
18. North American Knowledge Process Outsourcing Market Research and Analysis by Application, 2023-2031 ($ Million)
19. European Knowledge Process Outsourcing Market Research and Analysis by Country, 2023-2031 ($ Million)
20. European Knowledge Process Outsourcing Market Research and Analysis by Services, 2023-2031 ($ Million)
21. European Knowledge Process Outsourcing Market Research and Analysis by Application, 2023-2031 ($ Million)
22. Asia-Pacific Knowledge Process Outsourcing Market Research and Analysis by Country, 2023-2031 ($ Million)
23. Asia-Pacific Knowledge Process Outsourcing Market Research and Analysis by Services, 2023-2031 ($ Million)
24. Asia-Pacific Knowledge Process Outsourcing Market Research and Analysis by Application, 2023-2031 ($ Million)
25. Rest Of the World Knowledge Process Outsourcing Market Research and Analysis by Country, 2023-2031 ($ Million)
26. Rest Of the World Knowledge Process Outsourcing Market Research and Analysis by Services, 2023-2031 ($ Million)
27. Rest Of the World Knowledge Process Outsourcing Market Research and Analysis by Application, 2023-2031 ($ Million)
1. Global Knowledge Process Outsourcing Market Share by Services, 2023 Vs 2031 (%)
2. Global Market Research & Data Analytics Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
3. Global Customer & Marketing Analytics Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
4. Global Operations & Supply Chain Analytics Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
5. Global Legal Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
6. Global Financial Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
7. Global Publishing Knowledge Process Outsourcing Market Share by Geography, 2023 Vs 2031 (%)
8. Global Others Knowledge Process Outsourcing Market Share By Geography, 2023 Vs 2031 (%)
9. Global Knowledge Process Outsourcing Market Share By Application, 2023 Vs 2031 (%)
10. Global Knowledge Process Outsourcing For Bfsi Market Share By Geography, 2023 Vs 2031 (%)
11. Global Knowledge Process Outsourcing For Healthcare Market Share By Geography, 2023 Vs 2031 (%)
12. Global Knowledge Process Outsourcing For It & Telecom Market Share By Geography, 2023 Vs 2031 (%)
13. Global Knowledge Process Outsourcing For Retail Market Share By Geography, 2023 Vs 2031 (%)
14. Global Knowledge Process Outsourcing For Other Market Share By Geography, 2023 Vs 2031 (%)
15. Global Knowledge Process Outsourcing Market Share By Geography, 2023 Vs 2031 (%)
16. Us Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
17. Canada Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
18. Uk Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
19. France Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
20. Germany Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
21. Italy Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
22. Spain Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
23. Rest Of Europe Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
24. India Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
25. China Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
26. Japan Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
27. South Korea Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
28. Rest Of Asia-Pacific Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
29. Rest Of The World Knowledge Process Outsourcing Market Size, 2023-2031 ($ Million)
