Business Process Outsourcing (BPO) Market Overview
The global business process outsourcing market size was valued in 2020 and is expected to register a compound annual growth rate from 2021 to 2028. The market is expected to benefit from the increasing focus of organizations on improving business agility, to survive the constantly changing business dynamics, and ways of improving efficiency while decreasing operating costs and emphasizing core competencies. Moreover, organizations are increasingly focusing on reducing the cost of conducting business for accessing global resources to meet the growing industry demands. As a result, several organizations across the globe are leveraging the benefits of business process outsourcing (BPO) services and are focusing on core competencies, thereby generating avenues for market growth.
| Report Metric |
Details |
| Market size available for years |
2023–2030 |
| Base year considered |
2023 |
| Forecast period |
2024–2030 |
| Forecast unit |
Value (USD Million) |
| Segments covered |
Service Type , Industry Vertical and Region |
| Regions covered |
North America (the U.S. and Canada), Europe (UK, Germany, France, Italy, Spain, Russia, Rest of Europe), Asia-Pacific (China, India, Japan, Australia, South East Asia, Rest of Asia Pacific), Latin America and the Middle East and Africa (Brazil, Saudi Arabia, UAE, Rest of LAMEA) |
| Companies covered |
Accenture; Amdocs; Infosys Limited (Infosys BPM); HCL Technologies Limited; CBRE Group Inc.; NCR Corporation; Wipro Limited; Capgemini; TTEC Holdings, Inc.; Sodexo. |
The covid-19 Impact on Business Process Outsourcing (BPO) Market:
Like several different industries, COVID-19 badly knocked the electronic and semiconductor Industry. This new event has compact nearly 230 countries in exactly a couple of weeks, leading to the forced conclusion of producing and transportation activities at intervals and across the countries. This has directly affected the expansion of the sector. It's calculable that COVID-19 to depart over USD thirty billion impacts on the physics and semiconductor Industry. The arena is majorly affected thanks to transport restrictions on major physics and semiconductor staple suppliers. However, the rising want for semiconductors in many industries can supply fast market recovery over the longer-term amount.
Business Process Outsourcing (BPO) Market Segment Overview
Finance & Accounting segment dominated the market in 2020 with a revenue share extraordinary thirty first. The section is anticipated to retain its dominance registering the quickest CAGR over the forecast amount. The high share of the this section is attributed to the increasing variety of service centres across the world that require each on-line also as offline technical support. Client service-based BPO firm’s square measure specialised in handling client necessities and queries that square measure generated through emails, phone calls, chats, social media platforms, and different channels.
The IT & telecommunication segment dominated the market in 2020 with a revenue share exceeding 34%. The segment is expected to register a significant CAGR during the forecast period. The segment growth is attributed to a rise in number of IT companies and rapid industrialization worldwide. Telecom companies across the globe are outsourcing several telecommunications processes to reduce their overall capital expenditure. Telecom companies outsource business functions, ranging from call centre outsourcing to billing operations to finance and accounting. Apart from helping reduce their capital expenses, outsourcing allow telecom companies to create a flexible strategy of acquiring and retaining more customers, optimizing current investments, accessing specialized resources, and managing cost pressures.
Market Analysis, Insights and Forecast – By Service Type
· Finance & Accounting
· Human Resources
· Knowledge Process Outsourcing
· Procurement & Supply Chain
· Customer Services
· Others
Market Analysis, Insights and Forecast – By Industry Vertical
· Banking, Financial Services, and Insurance (BFSI)
· Manufacturing
· IT & Telecommunication
· Retail
· Others
Business Process Outsourcing (BPO) Market Regional Overview
On the basis of regional analysis, the worldwide Business Process Outsourcing (BPO) Market is assessed into North America, Europe, Asia Pacific, and remainder of the planet. The most important share within the market are going to be dominated by North America. Countries like China, India and the Philippines are among the fastest-growing economies owing to the convenience of the low-cost talent pool of IT process outsourcing.
Business Process Outsourcing (BPO) Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Business Process Outsourcing (BPO) Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Business Process Outsourcing (BPO) are highlighted below.
· In 2022, Genpact Ltd, the business process outsourcing (BPO) company listed on the new york stock exchange (NYSE), bought Milpitas, California-based information analytics firm Enquero inc. within the 14th acquisition.
Business Process Outsourcing (BPO) Market, Key Players
· Accenture
· Amdocs
· Infosys Limited (Infosys BPM)
· HCL Technologies Limited
· CBRE Group, Inc.
· NCR Corporation
· Wipro Limited
· Capgemini
· TTEC Holdings, Inc.
· Sodexo
Frequently Asked Questions (FAQ) :
Q1. What is the total CAGR expected to be recorded for the Business Process Outsourcing (BPO) market during the forecast period?
Business Process Outsourcing (BPO) market is expected to record a CAGR of ~ xx% during the forecast period
Q2. Which segment is projected to hold the largest share in the Business Process Outsourcing (BPO) Market?
Banking segment is projected to hold the largest share in the Business Process Outsourcing (BPO) Market
Q3. What are the driving factors for the Business Process Outsourcing (BPO) market?
The demand for identity and access management-as-a-service is anticipated to grow thanks to rising would like of controlled access systems in more and more connected and vulnerable enterprises throughout the forecast amount are key factors that boost the growth of the Business Process Outsourcing (BPO) market progressively.
Q4. Which Segments are covered in the Business Process Outsourcing (BPO) market report?
Service Type, Industry Vertical, and Region, these segments are covered in the Business Process Outsourcing (BPO) market report
Q5. Which are the prominent players offering Business Process Outsourcing (BPO)?
Accenture; Amdocs; Infosys Limited (Infosys BPM); HCL Technologies Limited; CBRE Group Inc.; NCR Corporation; Wipro Limited; Capgemini; TTEC Holdings, Inc.; Sodexoare the prominent players offering Business Process Outsourcing (BPO)
List of Figures
Figure 1: Global Business Process Outsourcing (BPO) Market Revenue Breakdown (USD Billion, %) by Region, 2019 & 2027
Figure 2: Global Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 3: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 4: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 5: Global Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 6: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 7: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 8: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 9: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 10: Global Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 11: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 12: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 13: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 14: Global Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 15: Global Business Process Outsourcing (BPO) Market Value (USD Billion), by Region, 2019 & 2027
Figure 16: North America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 17: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 18: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 19: North America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 20: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 21: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 22: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 23: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 24: North America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 25: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 26: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 27: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 28: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 29: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by U.S., 2016-2027
Figure 30: North America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Canada, 2016-2027
Figure 31: Latin America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 32: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 33: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 34: Latin America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 35: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 36: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 37: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 38: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 39: Latin America Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 40: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 41: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 42: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 43: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 44: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Brazil, 2016-2027
Figure 45: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Mexico, 2016-2027
Figure 46: Latin America Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Rest of Latin America, 2016-2027
Figure 47: Europe Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 48: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 49: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 50: Europe Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 51: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 52: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 53: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 54: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 55: Europe Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 56: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 57: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 58: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 59: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 60: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by U.K., 2016-2027
Figure 61: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Germany, 2016-2027
Figure 62: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by France, 2016-2027
Figure 63: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Italy, 2016-2027
Figure 64: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Spain, 2016-2027
Figure 65: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Russia, 2016-2027
Figure 66: Europe Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Rest of Europe, 2016-2027
Figure 67: Asia Pacific Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 68: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 69: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 70: Asia Pacific Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 71: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 72: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 73: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 74: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 75: Asia Pacific Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 76: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 77: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 78: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 79: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 80: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by China, 2016-2027
Figure 81: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by India, 2016-2027
Figure 82: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Japan, 2016-2027
Figure 83: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Australia, 2016-2027
Figure 84: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Southeast Asia, 2016-2027
Figure 85: Asia Pacific Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Rest of Asia Pacific, 2016-2027
Figure 86: Middle East & Africa Business Process Outsourcing (BPO) Market Value Share (%), By Segment 1, 2019 & 2027
Figure 87: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 88: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 89: Middle East & Africa Business Process Outsourcing (BPO) Market Value Share (%), By Segment 2, 2019 & 2027
Figure 90: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 91: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 92: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 93: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 94: Middle East & Africa Business Process Outsourcing (BPO) Market Value Share (%), By Segment 3, 2019 & 2027
Figure 95: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 1, 2016-2027
Figure 96: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 2, 2016-2027
Figure 97: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Sub-Segment 3, 2016-2027
Figure 98: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Others, 2016-2027
Figure 99: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by GCC, 2016-2027
Figure 100: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by South Africa, 2016-2027
Figure 101: Middle East & Africa Business Process Outsourcing (BPO) Market Forecast (USD Billion), by Rest of Middle East & Africa, 2016-2027
List of Tables
Table 1: Global Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 2: Global Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 3: Global Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 4: Global Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Region, 2016-2027
Table 5: North America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 6: North America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 7: North America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 8: North America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 9: Europe Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 10: Europe Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 11: Europe Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 12: Europe Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 13: Latin America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 14: Latin America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 15: Latin America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 16: Latin America Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 17: Asia Pacific Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 18: Asia Pacific Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 19: Asia Pacific Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 20: Asia Pacific Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Table 21: Middle East & Africa Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 1, 2016-2027
Table 22: Middle East & Africa Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 2, 2016-2027
Table 23: Middle East & Africa Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Segment 3, 2016-2027
Table 24: Middle East & Africa Business Process Outsourcing (BPO) Market Revenue (USD Billion) Forecast, by Country, 2016-2027
Research Process
Data Library Research are conducted by industry experts who offer insight on
industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager
and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Primary Research
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary Research
Secondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size Estimation
Both, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
