The business process outsourcing market will see an additional growth of USD 40.16 billion; Developing opportunities with Accenture Plc and Automatic Data Processing Inc.

NEW YORK, September 27, 2022 /PRNewswire/ — The global market for business process outsourcing the size is expected to grow by $40.16 billion, accelerating at a CAGR of 4% between 2020 and 2025. Technavio tracked the latest trends and developments in the IT consulting and other services industry. Some of the factors including the number of major IT consulting deals signed globally, revenue generated by service providers offering IT consulting services, IT budgets allocated by central and state governments in major markets and others are taken into account in market size estimation.

Technavio has announced its latest market research report titled Global Business Process Outsourcing Market

Buy a full report now for a comprehensive analysis of the global business process outsourcing market.

The market is driven by a focus on reducing operating costs. Establishing an in-house BPO team requires significant capital investment. This requires additional manpower, infrastructure and training for new employees. Consequently, many organizations outsource their business processes and operations to focus on their core business. This helps them minimize operating costs and improve overall efficiency. It is estimated that BPO services can result in between 30%-50% savings in operating costs for a company. Thus, it helps organizations save a significant amount of money and time in outsourcing business processes. All these factors are driving the growth of the global business process outsourcing market.

In addition, increasing emphasis on process automation is expected to further drive the growth of the business process outsourcing market. However, the risk of data breaches may reduce the market’s growth potential.

Identify other drivers, trends and challenges influencing market growth. Download a PDF sample report

Major Business Process Outsourcing Companies:

  • Accenture Plc: The company offers intelligent financial operations, marketing solutions and other services. The Services are used by SynOps. It helps create a data-driven operating model that connects smart technology, talent, and data and analytics to deliver real-time, actionable insights.

  • Automatic Data Processing Inc.: The company offers small business payroll outsourcing and other services.

  • Capgemini SE: The company offers supply chain management solutions. It includes a range of services integrating supply chain master data with planning, execution and analytics. Offers financial and accounting solutions and other services.

  • Infosys EOOD: The company offers data analysis solutions.

  • International Business Machines Corp.: The company offers sourcing and procurement services, financial transformation services and other services.

  • NEC Corp.

  • NTT DATA Corp.

  • Tata Consultancy Services Ltd.

  • Wipro Ltd.

  • ZTE Corp.

Business Process Outsourcing Market End User Outlook (Revenue, USD Billion, 2020-2025)

  • IT and Telecommunications – Size and Forecast 2020-2025

  • BFSI – size and forecast 2020-2025

  • Retail Trade – Size and Forecast 2020-2025

  • Healthcare – size and forecast 2020-2025

  • Others – size and forecast 2020-2025

The IT and telecommunication industry is the major end user of the market. The segment is driven by factors such as technological advancements, rapid growth in data traffic, and increasing consumer demand for digital content and communication. The market growth in the segment will be significant during the forecast period.

Business Process Outsourcing Market Geography (Revenue, USD Billion, 2020-2025)

  • North America – size and forecast 2020-2025

  • Europe – size and forecast 2020-2025

  • APAC – Size and Forecast 2020-2025

  • MEA – Size and Forecast 2020-2025

  • South America – size and forecast 2020-2025

North America will dominate market growth, accounting for 38% of the global market share. The market in North America is mature compared to other regional markets. The increasing outsourcing of services by companies in low-wage countries such as India and The Philippines driving the growth of the business process outsourcing market in North America.

Technavio’s sample reports are free and contain multiple report sections such as market size and forecast, drivers, challenges, trends, and more. Request a sample report here

Related reports:

Business Process Outsourcing Market Scope

Report coverage

Details

Page number

120

Base year

2020

Estimated period

2021-2025

Growth momentum and CAGR

Accelerate at 4% CAGR

Market Growth 2021-2025

$40.16 billion

Market structure

Torn apart

Year-on-year growth (%)

3.53

Regional analysis

North America, Europe, APAC, MEA and South America

Effective market contribution

North America with 38%

Key user countries

USA, UK, Germany, China and Japan

The competitive environment

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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

Major market analysis, market growth drivers and restraints, fast and slow growing segment analysis, impact of COVID-19 and future consumer dynamics and market status analysis for the forecast period.

Range of customization

If our report doesn’t include the data you’re looking for, you can contact our analysts and get custom segments.

Content:

Executive summary

Market landscape

  • Market ecosystem

  • Value chain analysis

Sizing the market

Five Forces Analysis

Market segmentation by end user

  • Market segments

  • Comparison by end user

  • IT and Telecommunications – Market Size and Forecast 2020-2025

  • BFSI – Market Size and Forecast 2020-2025

  • Retail – Market Size and Forecast 2020-2025

  • Healthcare – Market Size and Forecast 2020-2025

  • Others – Market Size and Forecast 2020-2025

  • End user market opportunity

Customer landscape

Geographical landscape

  • Geographic segmentation

  • Geographical comparison

  • North America – Market Size and Forecast 2020-2025

  • Europe – Market Size and Forecast 2020-2025

  • APAC – Market Size and Forecast 2020-2025

  • MEA – Market Size and Forecast 2020-2025

  • South America – Market Size and Forecast 2020-2025

  • Key leading countries

  • Market opportunity by geography

  • Market engines

  • Market challenges

  • Market trends

Supplier landscape

  • Review

  • Disruption of the landscape

Supplier Analysis

  • Covered Providers

  • Market positioning of suppliers

  • Accenture Plc

  • Automatic Data Processing Inc.

  • Get a grip

  • Infosys Ltd

  • International Business Machines Corp.

  • NEC Corp.

  • NTT DATA Corp.

  • Tata Consultancy Services Ltd.

  • Wipro Ltd.

  • ZTE Corp.

Application

About Technavio

Technavio is a leading global technology research and consulting company. Their research and analysis focuses 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 dedicated analysts, Technavio’s report library consists of more than 17,000 reports and growing, covering 800 technologies spanning 50 countries. Their client base consists of businesses of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, in-depth research and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Research
Jesse Maida
Media and Marketing Executive
USA: +1 844 364 1100
UK: +44 203 893 3200
Email: [email protected]
website: www.technavio.com/
Newsroom: newsroom.technavio.org/news/top-drivers-for-business-process-outsourcingmarket

(PRNewsfoto/Infiniti Research, Inc.)

(PRNewsfoto/Infiniti Research, Inc.)

Sission

Sission

View Original Media Download Content: https://www.prnewswire.com/news-releases/business-process-outsourcing-market-to-record-usd-40-16-bn-incremental-growth-evolving-opportunities- with -accenture-plc-and-automatic-data-processing-inc-301634094.html

SOURCE Technavio

Leave a Comment