NEW YORK, Aug. 30, 2022 /PRNewswire/ — The “Business Process Outsourcing Market – Forecast and Analysis 2021-2025″ report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The business process outsourcing market share is expected to increase by USD 40.16 billion from 2020 to 2025, and the market’s growth momentum will accelerate at a CAGR of 4%. Technavio categorizes the business process outsourcing market as a part of the global IT consulting and other services market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the business process outsourcing market during the forecast period – For more highlights on the parent market analysis – Grab a FREE Sample Now!
Business Process Outsourcing Market – Key Market Dynamics:
Market Driver – The key factor driving growth in the business process outsourcing market is the focus on reducing operational costs. Operational costs refer to the cost involved in manufacturing goods and services, maintenance, and administration on a regular basis. BPO helps minimize operating costs and enhances business efficiency. BPO involves service aid for different business processes such as procurement, logistics, and customer care. Therefore, organizations have started outsourcing their business processes and operations to focus on and improve their core businesses. Organizations need BPO services to increase market share, expand their customer base, and improve customer relationships. It is estimated that logistics BPO outsourcing companies help reduce operational costs by up to 70%. Logistics companies use third-party BPO providers to fuel revenue growth and attain operational efficiency at a reduced cost. This will have a positive impact on the global BPO market.
Market Challenges – Data breaches will be a major challenge for the business process outsourcing market during the forecast period. For a firm, data theft refers to the illegal transfer of data, which can be confidential, financial, or personal. Such data is normally stored on electronic devices such as servers and computers and includes proprietary process-oriented information, technologies, software codes, and passwords. Data security and data privacy have always been key concerns for BPO companies. With increasing technological advances and the rising use of Internet services across the world, the safety of customer data is becoming crucial. Data breaches will be a major challenge for the global BPO market. A data breach can tarnish the reputation of individuals and organizations.
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Business Process Outsourcing Market – Segmentation Analysis
The business process outsourcing market report is segmented by End-user (IT and telecommunication, BFSI, Retail, Healthcare, and Others) and Geography (North America, Europe, APAC, MEA, and South America).
Revenue Generating Segment – The business process outsourcing market share growth in the IT and telecommunication segment will be significant for revenue generation. The growth of this segment can be attributed to technological advances, fast growth in data traffic, and growing demand for digital content and communication by consumers. The telecom services industry is expected to witness steady growth with the advent of the 5G spectrum.
Regional Highlights – 38% of the market’s growth will originate from North America during the forecast period. The US is the key market for business process outsourcing in North America. Market growth in this region will be slower than the growth of the market in the South American, MEA, and APAC regions. The rise in the adoption of advanced technologies such as cloud computing solutions, social media, AI, and RPA will facilitate the business process outsourcing market growth in North America over the forecast period.
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Business Process Outsourcing Market – Vendor Analysis
The business process outsourcing market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.
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The competitive scenario provided in the Business Process Outsourcing Market Report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc. Don’t wait, Make a strategic approach & boost your business goals with our Business Process Outsourcing Market Forecast Report – Buy Now!
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Business Process Outsourcing Market Scope
Report Coverage
Details
Page number
120
Base year
2020
Forecast period
2021-2025
Growth momentum & CAGR
Accelerate at a CAGR of 4%
Market growth 2021-2025
USD 40.16 billion
Market structure
Fragmented
YoY growth (%)
3.53
Regional analysis
North America, Europe, APAC, MEA, and South America
Performing market contribution
North America at 38%
Key consumer countries
US, UK, Germany, China, and Japan
Competitive landscape
Leading companies, competitive strategies, consumer engagement scope
Companies profiled
Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Tata Consultancy Services Ltd., Wipro Ltd., and ZTE Corp.
Market Dynamics
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and market condition analysis for the forecast period.
Customization purview
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.
Browse for Technavio “Information Technology Market” Research Reports
Key Topics Covered:
Executive Summary
Market Landscape
Market ecosystem
Value chain analysis
Market Sizing
Market Definition
Market segment analysis
Market size 2020
Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
Five forces summary
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
Market condition
Market Segmentation by End-user
Market segments
Comparison by End-user
IT and telecommunication – Market size and forecast 2020-2025
BFSI – Market size and forecast 2020-2025
Retail – Market size and forecast 2020-2025
Healthcare – Market size and forecast 2020-2025
Others – Market size and forecast 2020-2025
Market opportunity by End-user
Customer landscape
Customer landscape
Geographic Landscape
Geographic segmentation
Geographic comparison
North America – Market size and forecast 2020-2025
Europe – Market size and forecast 2020-2025
APAC – Market size and forecast 2020-2025
MEA – Market size and forecast 2020-2025
South America – Market size and forecast 2020-2025
Key leading countries
Market opportunity by geography
Market drivers
Market challenges
Market trends
Vendor Landscape
Overview
Landscape disruption
Vendor Analysis
Vendors covered
Market positioning of vendors
Accenture Plc
Automatic Data Processing Inc.
Capgemini SE
Infosys Ltd.
International Business Machines Corp.
NEC Corp.
NTT DATA Corp.
Tata Consultancy Services Ltd.
Wipro Ltd.
ZTE Corp.
Appendix
Scope of the report
Currency conversion rates for US$
Research Methodology
List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email:media@technavio.com
Website: www.technavio.com/
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