Request Discount

Business Process Outsourcing (BPO) Market (Service - Finance & Accounting, Human Resources, Procurement & Supply Chain, Customer Services, and Others; End User - BFSI, Healthcare, Manufacturing, IT & Telecommunication, Retail, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2025

  • Published : March, 2020

  • Rep Id : ICT1370

  • Category : Electronics, ICT and Semiconductors

  • Status : Published

This report provides exclusive insights into the COVID-19 impact on the Business Process Outsourcing. The detailed analysis provides information about the impact of the outbreak on the demand and supply conditions, trends and forecasts of the Business Process Outsourcing. Moreover, the impact analysis covers the study of the COVID-19 on the supply chain of Business Process Outsourcing. The sectoral impact shall provide insights into both short term and long term effects of the pandemic on the related and support industries.

A recent report published by Infinium Global Research on the business process outsourcing (BPO) market provides an in-depth analysis of segments and sub-segments in the global as well as regional business process outsourcing (BPO) market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional business process outsourcing (BPO) market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global business process outsourcing (BPO) market. According to the report, the global business process outsourcing (BPO) market is projected to grow at a CAGR of 8.2% over the forecast period of 2019-2025.

 

Market Insight

Business process outsourcing (BPO) services are provided for IT, finance & accounting, E-commerce and support, procurement, back-office process, human resource & recruitment process among others, by third-party providers to countless organizations. The increasing need to upsurge operational efficiency in order to remain competitive in the market is one of the significant factors that organizations are turning to third-party BPO service providers. Businesses operating in the market are heavily investing in the development of advanced technologies such as analytics, big data, cloud computing, and artificial intelligence (AI) in order to deliver comprehensive BPO services to their clients.

 

Improved telecommunication and IT capabilities and reduced international trade barriers have led to a situation where organizations are progressively interlinked with each other for carrying out business. Furthermore, enterprises are focusing on dropping the cost of conducting business to access global resources to meet the demands of the industry. Therefore, organizations are leveraging the advantages of outsourcing and are focusing on core competencies, thereby producing opportunities in the market for business process outsourcing. Even though the market is anticipated to grow significantly over the prediction period; market vendors exhibit a dependency on external outsourcing service providers; this dependency presents a potential security risk with reference to integrity and confidentiality of consumer’s data. In addition, maintaining and preserving the confidentiality and integrity of user’s data is a major concern common for all companies. Besides, increasing budgetary pressures and deficiency of effective frameworks to ensure the quality of service are some of the crucial factors restraining the growth of the business process outsourcing (BPO) market.

 

The COVID-19 outbreak has adversely impacted almost all sectors worldwide, with disturbed supply chains, country-wide lockdowns, and organizations exploring the possibility of long-term and even permanent remote working. The Business Process Outsourcing (BPO) industry features contact center agents working from different locations and answering millions of calls every single day. Some important concerns faced by BPO organizations are data security and the impact on productivity owing to either inadequate infrastructure at employees’ homes or the dearth of supervision. Some other concerns like difficulties in recording calls when working remotely and the exposure of personal employee data to clients.

 

Among the geographies, North America region is expected to hold the largest share in the global business process outsourcing (BPO) market. The availability of a skilled workforce along with the quality of service and operational efficiency are the major factors that are driving the companies to outsource their business processes to the American countries. Furthermore, the Asia Pacific market for business process outsourcing is projected to witness the fastest CAGR over the forecast period. The regional market growth is ascribable to increasing support from the Asian government towards the promotion of English language learning programs in order to gain attraction from global service providers in several Asian countries is also expected to propel market growth.

 

Segment Covered

The report on global business process outsourcing (BPO) market covers segments such as service, and end user. On the basis of service, the sub-markets include finance & accounting, human resources, procurement & supply chain, customer services, and others. On the basis of end user, the sub-markets include BFSI, healthcare, manufacturing, IT & telecommunication, retail, and others.

 

Companies Profiled:

The report provides profiles of the companies in the market such as Accenture plc, Infosys Limited, HCL Technologies Limited, Wipro Limited, Capgemini SE, Amdocs, IBM Corporation, Genpact, TATA Consultancy Services Limited, and Cognizant.

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the business process outsourcing (BPO) market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


Other Reports in This Category
24 hour delivery through email
9923950043 Monday to Frieday 9am-7pm
looking for discount