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Jan 12, 2022, 21:00 ET
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NEW YORK, Jan. 12, 2022 /PRNewswire/ — The latest research report “Business Process Outsourcing Market by End-user and Geography – Forecast and Analysis 2021-2025 “, by Technavio infers the market to be driven positively by the increasing adoption of BPO by IT and telecom service providers. The report also suggests the business process outsourcing (BPO) market witnessed an accelerating growth momentum at a CAGR of almost 4% during the forecast period.
Resulting in the market growth of USD 40.16 billion from 2020 to 2025, read additional information about the market, Get a FREE sample report.
Vendor Landscape
The business process outsourcing (BPO) market is fragmented due to the presence of several players and is expected to remain fragmented during the forecast period. Vendors are deploying various organic and inorganic growth and business strategies to compete in the market. Some of the dominant vendors are Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., Tata Consultancy Services Ltd., Wipro Ltd., and ZTE Corp.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
View more about the market’s vendor landscape highlights with a comprehensive list of vendors and their offerings.
Key Market Segmentation
Request a FREE Sample of this report for more highlights into the market segments.
Regional Market Outlook
38% of the market’s growth will originate from North America during the forecast period. The US is the key market for the business process outsourcing market in North America. The US is one of the major revenue generators in the global BPO market. Thus, it is beneficial to outsource operations to countries with lower income taxes. The US is also one of the main consumers of India’s ITES-BPO services, with approximately 66% share of the market. The BPO market in the region is expected to grow at a moderate growth rate during the forecast period as the market is mature compared with other regional markets.
A rise in the usage of sophisticated technologies like cloud computing solutions, social media, AI, and RPA is another factor for the market’s growth in the region. According to the Institute for Robotic Process Automation, RPA saves between 25% and 50% on labor costs. As a result, BPO firms use new technologies to provide better services to their clients. Healthcare, finance, and telecommunications, among other industries, are likely to rely heavily on BPO businesses to focus on their essential business activities during the projection period.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned countries.
Latest Trends, Driving the Business Process Outsourcing (BPO) Market
Find additional information about various other market drivers & trends mentioned in our FREE sample report.
Need More? Are You Looking for Information Not Covered in This Report?
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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
$ 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.
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 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.
Contact
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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