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Jul 25, 2022, 02:00 ET
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NEW YORK, July 25, 2022 /PRNewswire/ — Business process outsourcing (BPO) refers to the outsourcing of business processes by companies to third-party service providers. These processes can be related to finance, HR, accounts, and technical support. Outsourcing helps companies save costs and focus on core activities.
The business process outsourcing market value is anticipated to grow by USD 40.16 bn. In addition, the growth momentum of the market will accelerate at a CAGR of 4% during the forecast period.
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The focus on reducing operational costs is driving the growth of the market. These costs include the costs involved in manufacturing goods and services, maintenance, and administration. Organizations are outsourcing their business processes and operations to focus on their core businesses. BPO services help organizations increase market share, expand their customer base, and improve customer relationships.
Data breaches challenge the growth of the market during the forecast period. Technological advances and the rising use of Internet services across the world has put the safety of customer data at risk. Hence, data breaches are a major challenge for BPO companies.
For information about other trends and challenges that will shape the future of the market, View PDF Sample Report
The business process outsourcing market report provides complete insights on key vendors, including 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. The key offerings of some of the vendors are listed below:
This report provides a full list of key vendors, their strategies, and the latest developments. Request a Sample Now
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.
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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, 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.
Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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 across 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.
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
Website: www.technavio.com/
SOURCE Technavio
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