NEW YORK, Dec. 6, 2022 /PRNewswire/ — The Business Process Outsourcing Market by End-user, Business Segment, and Geography – Forecast and Analysis 2023-2027 report has been published by Technavio. Market size is forecast to grow by USD 75.89 billion at a CAGR of 6.5% between 2022 and 2027. The report provides a comprehensive analysis of growth opportunities at regional levels, new product launches, the latest trends, and the post-pandemic recovery of the global market. Download A Free PDF Sample Report
Regional Analysis
By region, the global business process outsourcing market is segmented into North America, Europe, APAC, the Middle East and Africa, and South America. North America is estimated to contribute 40% to the growth of the global market over the forecast period. The strong presence of many top vendors and increasing offshoring of IT services to low-wage countries such as India and the Philippines are driving the growth of the regional market.
Company Profiles
The business process outsourcing market report includes information on the key products and recent developments of leading vendors, including:
Accenture Plc: The company offers solutions for business process outsourcing including finance, supply chain, procurement, human resources, marketing, sales and customer operations, and industry-specific services, such as health, insurance, and banking.
Automatic Data Processing Inc: The company offers solutions for business process outsourcing that lower the expenses for human resources staff, infrastructure, and technology.
Concentrix Corp.: The company offers solutions for business process outsourcing which determine the CX roadmap through data-driven insights and design thinking.
Deloitte Touche Tohmatsu Ltd.: The company offers solutions for business process outsourcing which defines the scope and builds a business case while designing the future operating model, prepare, and planning the project.
HCL Technologies Ltd.
Infosys Ltd.
International Business Machines Corp.
To gain access to more vendor profiles available with Technavio, buy the report!
Market Dynamics
The market is driven by the focus on reducing operational costs, the surging number of BPOs, and the increasing adoption of BPOs by IT and telecom service providers. However, data breaches are hindering market growth.
Competitive Analysis
The competitive scenario categorizes companies based on various performance indicators. Some of the factors considered include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, and growth in market share among others. Request a Sample
Market Segmentation
By end-user, the market is segmented into IT and telecommunication, BFSI, retail, healthcare, and others. The IT and telecommunication segment accounted for the largest share of the market in 2022.
By geography, the market is segmented into APAC, North America, Europe, South America, and the Middle East and Africa. North America held the largest share of the market in 2022.
Related Reports:
The Outsourcing Market In BFSI Sector Market is projected to grow by USD 31.15 billion with a CAGR of 4.89% during the forecast period 2021 to 2026. The growing need to comply with regulatory standards is one of the key factors driving the global outsourcing market in BFSI sector market growth.
The Human Resource Outsourcing Market size is expected to increase by USD 10.90 billion from 2021 to 2026, at a CAGR of 4.87%. The digitization of human resource outsourcing is one of the key drivers supporting the human resource outsourcing market growth.
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What are the key data covered in this business process outsourcing market report?
CAGR of the market during the forecast period.
Detailed information on factors that will drive the growth of the market between 2023 and 2027
Precise estimation of the size of the business process outsourcing market and its contribution to the parent market.
Accurate predictions about upcoming trends and changes in consumer behavior.
Growth of the market industry across APAC, North America, Europe, South America, and Middle East and Africa.
Thorough analysis of the market’s competitive landscape and detailed information about vendors.
Comprehensive analysis of factors that will challenge the growth of business process outsourcing market vendors.
Business Process Outsourcing Market Scope
Report Coverage
Details
Page number
177
Base year
2022
Historic period
2017-2021
Forecast period
2023-2027
Growth momentum & CAGR
Accelerate at a CAGR of 6.5%
Market growth 2023-2027
USD 75.89 billion
Market structure
Fragmented
YoY growth 2022-2023 (%)
6.0
Regional analysis
North America, Europe, APAC, Middle East and Africa, and South America
Performing market contribution
North America at 40%
Key countries
US, China, India, Germany, and UK
Competitive landscape
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
Key companies profiled
Accenture Plc, Alight Solutions LLC, Amdocs Ltd, Anderson Business Solutions Pvt. Ltd., Automatic Data Processing Inc, Capgemini Service SAS, Cognizant Technology Solutions Corp., Concentrix Corp., Deloitte Touche Tohmatsu Ltd., HCL Technologies Ltd., Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Oracle Corp., Sykes Enterprises Inc., Tata Consultancy Services Ltd., Tech Mahindra Ltd, Wipro Ltd., and WNS Holdings Ltd.
Market dynamics
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis 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.
Table of contents:
1 Executive Summary
1.1 Market overview
2 Market Landscape
2.1 Market ecosystem
3 Market Sizing
3.1 Market definition
3.2 Market segment analysis
3.3 Market size 2022
3.4 Market outlook: Forecast for 2022-2027
4 Historic Market Size
4.1 Global business process outsourcing market 2017 – 2021
4.2 End-user Segment Analysis 2017 – 2021
4.3 Organization size Segment Analysis 2017 – 2021
4.4 Geography Segment Analysis 2017 – 2021
4.5 Country Segment Analysis 2017 – 2021
5 Five Forces Analysis
5.1 Five forces summary
5.2 Bargaining power of buyers
5.3 Bargaining power of suppliers
5.4 Threat of new entrants
5.5 Threat of substitutes
5.6 Threat of rivalry
5.7 Market condition
6 Market Segmentation by End-user
6.1 Market segments
6.2 Comparison by End-user
6.3 IT and telecommunication – Market size and forecast 2022-2027
6.4 BFSI – Market size and forecast 2022-2027
6.5 Retail – Market size and forecast 2022-2027
6.6 Healthcare – Market size and forecast 2022-2027
6.7 Others – Market size and forecast 2022-2027
6.8 Market opportunity by End-user
7 Market Segmentation by Business Segment
7.1 Market segments
7.2 Comparison by Market Segmentation by Business Segment
7.3 Large enterprises – Market size and forecast 2022-2027
7.4 SMEs – Market size and forecast 2022-2027
7.5 Market opportunity by Market Segmentation by Business Segment
8 Customer Landscape
8.1 Customer landscape overview
9 Geographic Landscape
9.1 Geographic segmentation
9.2 Geographic comparison
9.3 North America – Market size and forecast 2022-2027
9.4 Europe – Market size and forecast 2022-2027
9.5 APAC – Market size and forecast 2022-2027
9.6 Middle East and Africa – Market size and forecast 2022-2027
9.7 South America – Market size and forecast 2022-2027
9.8 US – Market size and forecast 2022-2027
9.9 UK – Market size and forecast 2022-2027
9.10 Germany – Market size and forecast 2022-2027
9.11 China – Market size and forecast 2022-2027
9.12 India – Market size and forecast 2022-2027
9.13 Market opportunity by geography
10 Drivers, Challenges, and Trends
10.1 Market drivers
10.2 Market challenges
10.3 Impact of drivers and challenges
10.4 Market trends
11 Vendor Landscape
11.1 Overview
11.2 Vendor landscape
11.3 Landscape disruption
11.4 Industry risks
12 Vendor Analysis
12.1 Vendors covered
12.2 Market positioning of vendors
12.3 Accenture Plc
12.4 Automatic Data Processing Inc
12.5 Capgemini Service SAS
12.6 Concentrix Corp.
12.7 Deloitte Touche Tohmatsu Ltd.
12.8 HCL Technologies Ltd.
12.9 Infosys Ltd.
12.10 International Business Machines Corp.
12.11 NEC Corp.
12.12 NTT DATA Corp.
12.13 Oracle Corp.
12.14 Tata Consultancy Services Ltd.
12.15 Tech Mahindra Ltd
12.16 Wipro Ltd.
12.17 WNS Holdings Ltd.
13 Appendix
13.1 Scope of the report
13.2 Inclusions and exclusions checklist
13.3 Currency conversion rates for US$
13.4 Research methodology
13.5 List of abbreviations
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides 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.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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