Business Process Outsourcing Market to Record Impressive 7.5% Growth During Forecast Period 2021-2031

Global Business Process Outsourcing Market: In-Depth Assessment on Key Segments

The global business process outsourcing market is segmented on the basis of service, end use, and region.

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Country-specific assessment on demand for business process outsourcing has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous business process outsourcing manufacturers, experts, and suppliers. Y-o-Y growth projections have also been offered on all regional markets incorporated in the report.

Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.

The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries.

The market has been forecasted based on constant currency rates. The report provides detailed competitive and company profiles of key participants operating in the global business process outsourcing market.

Global Business Process Outsourcing Market – Scope Of The Report

The following report provides forecast and analysis of the global business process outsourcing market along with the historical data of 2014, estimated data 2019 and forecast data up to 2029 in terms of value (US$ Mn), according to a Fact.MR study.

The research propounds critical trends that are currently influencing growth within the global business process outsourcing market along with several macro-economic indicators.

This newly published and insightful report on business process outsourcing sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global business process outsourcing market.

The report also comprises the study of current issues with end users and opportunities for business process outsourcing. It also contains value chain analysis, including the key market participants.

To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.

The dashboard included in the report provides a detailed comparison of business process outsourcing manufacturers on parameters such as total revenue, product offerings, and key strategies.

A list of key companies operating in the business process outsourcing market provided in the report adds to the credibility of this exhaustive research study.

Key Takeaways of Business Process Outsourcing Market Study

• North America stands at the frontline of the market with a majority value share of over 60%. Countries such as the US have been proponents of the benefits of business process outsourcing. The promising 7% CAGR growth in this region can be attributed to surging demand for cost effective outsourcing.
• Europe comes second with more than 1/4th share of the total market value. Prevalence of lean business models in European organizations is a central factor for the region’s high growth during the forecast period.
• Asia Pacific offers the most remunerative opportunities on the back of a booming digital economy. Developing nations such as India, and Indonesia are witnessing an emerging need for customer support services, a forte function of business process outsourcing companies.
• IT & Telecommunications account for the largest market share of the total revenues with a robust 7% CAGR through 2029. This is attributed to the need to leverage the latest IT infrastructure and ensure regular maintenance of server facilities.
• Banking, Financial Services, and Insurance (BFSI) offer the most gainful prospects on the back of innovative financial technologies that require a strong customer support partner for smooth adoption of the latest products and services.
• Retail is another end-use segment that is surging the demand for business process outsourcing owing to digitization initiatives to compete with online retailers.
• Customer services are the most demanded BPO service with more than 1/3rd of total market demand. The segment will grow at a strong 7% CAGR during the forecast period.
• Knowledge process outsourcing will generate highest growth prospects with a 9% CAGR from 2019 to 2029. Prevalence of information based industries such as market research, and business analytics are set to drive the demand for this BPO service