The Global Business Process Outsourcing Market Size accounted for USD 241.7 Billion in 2021 and is estimated to achieve a market size of USD 512.4 Billion by 2030 growing at a CAGR of 8.9% from 2022 to 2030. An increasingly competitive environment from new outsourcing sites, along with the emphasis on firms running more cost-effectively, will fuel the business process outsourcing market growth. Furthermore, the business process outsourcing market value is being propelled by aspects such as businesses' increased attention on enhancing efficiency and business agility, lowering operational costs, and stressing core capabilities in order to withstand the continuously shifting business dynamics.
Business Process Outsourcing Market Report Key Highlights
- Global business process outsourcing market revenue is estimated to expand by USD 512.4 billion by 2030, with a 8.9% CAGR from 2022 to 2030.
- North America business process outsourcing market share accounted for over 35.9% shares in 2021
- Asia-Pacific business process outsourcing market growth will observe fastest CAGR from 2022 to 2030
- Based on service, customer services segment accounted for over 30% of the overall market share in 2021
- Among end-user, IT and telecom sector engaged more than 36% of the total market share
- Rising global penetration of new competitors, drives the business process outsourcing market size
Business process outsourcing (BPO) is a way to offer a third-party service provider control over a range of business functions in return for a fixed payment. The fast expansion of the BPO industry's scope and size is linked to multinational firms' greater need to lower costs and deal with issues such as skilled labor scarcity. The multiple benefits offered by BPO, including cost reductions, increased customer satisfaction, better concentration on core markets, competitive capacity, and rapid time to market, have motivated operations to embrace the outsourcing model.
Global Business Process Outsourcing Market Trends
Market Drivers
- Increased emphasis on improving business agility by businesses
- The growing use of cloud computing
- Increased demand for standardized technology platforms
- Focusing attention on the IT and telecommunications industries
Market Restraints
- Increased concerns about confidentiality and intellectual property
- Risks related to cybercrime
Market Opportunities
- Continually changing business dynamics
- Rising global penetration of new competitors
Business Process Outsourcing Market Report Coverage
Market |
Business Process Outsourcing Market |
Business Process Outsourcing Market Size 2021 |
USD 241.7 Billion |
Business Process Outsourcing Market Forecast 2030 |
USD 512.4 Billion |
Business Process Outsourcing Market CAGR During 2022 - 2030 |
8.9% |
Business Process Outsourcing Market Analysis Period |
2018 - 2030 |
Business Process Outsourcing Market Base Year |
2021 |
Business Process Outsourcing Market Forecast Data |
2022 - 2030 |
Segments Covered |
By Service, By End-User, And By Geography
|
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
Key Companies Profiled |
Infosys Limited, CBRE Group Inc., Accenture, NCR Corporation, HCL, Sodexo, Capgemini, TTEC Holdings, Inc., Wipro, and Amdocs. |
Report Coverage
|
Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis |
Business Process Outsourcing Market Insights
BPO is rapidly gaining momentum across an array of verticals such as banking, financial services, and insurance (BFSI), healthcare, manufacturing, IT & telecommunications, retail, and others, which is driving the BPO market value. Demand to decrease operational costs is a main factor expected to boost the BPO market size. Any further expenditure spent on a device or business that is not among the major capabilities of a company is called operational costs. A growing numeral of businesses has been outsourcing these operations, allowing them to emphasize core capabilities and improve their business. This results is shown in cost competence and real-time as well as resource management.
Business activities of any association are characterized into basic, critical, core, and non-core activities. Core exercises are an organization's essential capabilities that give it a key favorable position, while basic tasks require a specific range of abilities. Non-core activities are supporting tasks that to a great extent include relationships with the executives among shoppers and items. Grouping these exercises is essential so as to distribute assets fittingly to guarantee opportune conveyance administrations. These days, organizations have started putting more noteworthy accentuation on core activities with a view to keeping up their market nearness and growing their client base. This has brought about higher redistributing of non-core activities.
Business Process Outsourcing Market Segmentation
The worldwide business process outsourcing market segmentation is based on the service, end-user, and geography.
Business Process Outsourcing Market By Service
- Finance & Accounting
- Knowledge Process Outsourcing
- Human Resources
- Customer Services
- Procurement & Supply Chain
- Others
According to a business process outsourcing industry analysis, the customer services segment can lead the global market in 2021 and is predicted to grow significantly in the coming years. The segment's dominance can be due to the growing number of service centers throughout the world that require both online and offline technical help. Client service-based BPO firms specialize in addressing customer requests and inquiries via email, chatrooms, social media platforms, phone calls, as well as other channels.
Business Process Outsourcing Market By End-User
- Banking, Financial Services, and Insurance (BFSI)
- Retail
- Healthcare
- IT & Telecommunication
- Manufacturing
- Others
According to the business process outsourcing market forecast, the BFSI segment would continue growing in the market over the next few years. Financial organizations have traditionally viewed BPO as a tool for increasing cost efficiency. To improve their customer service, BFSI firms are choosing for outsourcing activities in numerous fields of the BFSI sector, particularly asset management as well as investment management.
Business Process Outsourcing Market Regional Outlook
North America
Europe
- U.K.
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- India
- Japan
- China
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
The Middle East & Africa
- South Africa
- GCC Countries
- Rest of the Middle East & Africa (ME&A)
North America Is Expected To Record Dominant Market Share For The Global Business Process Outsourcing Market
North America region held the largest market share in the BPO market in 2021. Development in the regional market is credited to flexibility and customization of service delivery in order to develop the efficient and efficient solutions, paired with the increasing need for cloud computing technology.
The Asia-Pacific BPO market growth is expected to exhibit the highest CAGR during the forecast timeframe. This development is ascribable to the speedy growth of the manufacturing and (CPG) consumer packaged goods industries in this region. Moreover, growing support from the government to promotion of English language learning programs in to gain fascination from global service providers is expected to push business process outsourcing market growth.
Business Process Outsourcing Market Players
Some of the top business process outsourcing market companies offered in the professional report includes Infosys Limited, CBRE Group Inc., Accenture, NCR Corporation, HCL, Sodexo, Capgemini, TTEC Holdings, Inc., Wipro, and Amdocs.
Strategic partnerships and associations are a significant strategy among foremost players to merge their presence in the market. For instance, Capgemini entered into a partnership with NetSuite in October 2014, the company NetSuite delivers cloud computing solutions internationally. The objective of this partnership is to enable Capgemini to launch its new virtual company, which delivers business process outsourcing solutions. The numerous business solutions offered comprise human resources, accounting and finance, and a host of technology solutions.
CHAPTER 1. Industry Overview of Business Process Outsourcing Market
1.1. Definition and Scope
1.1.1. Definition of Business Process Outsourcing
1.1.2. Market Segmentation
1.1.3. Years Considered for the Study
1.1.4. Assumptions and Acronyms Used
1.1.4.1. Market Assumptions and Market Forecast
1.1.4.2. Acronyms Used in Global Business Process Outsourcing Market
1.2. Summary
1.2.1. Executive Summary
1.2.2. Business Process Outsourcing Market By Service
1.2.3. Business Process Outsourcing Market By End-User
1.2.4. Business Process Outsourcing Market By Region
CHAPTER 2. Research Approach
2.1. Methodology
2.1.1. Research Programs
2.1.2. Market Size Estimation
2.1.3. Market Breakdown and Data Triangulation
2.2. Data Source
2.2.1. Secondary Sources
2.2.2. Primary Sources
CHAPTER 3. Market Dynamics And Competition Analysis
3.1. Market Drivers
3.1.1. Driver 1
3.1.2. Driver 2
3.2. Restraints and Challenges
3.2.1. Restraint 1
3.2.2. Restraint 2
3.3. Growth Opportunities
3.3.1. Opportunity 1
3.3.2. Opportunity 2
3.4. Porter’s Five Forces Analysis
3.4.1. Bargaining Power of Suppliers
3.4.2. Bargaining Power of Buyers
3.4.3. Threat of Substitute
3.4.4. Threat of New Entrants
3.4.5. Degree of Competition
3.5. Market Concentration Ratio and Market Maturity Analysis of Business Process Outsourcing Market
3.5.1. Go To Market Strategy
3.5.1.1. Introduction
3.5.1.2. Growth
3.5.1.3. Maturity
3.5.1.4. Saturation
3.5.1.5. Possible Development
3.6. Technological Roadmap for Business Process Outsourcing Market
3.7. Value Chain Analysis
3.7.1. List of Key Manufacturers
3.7.2. List of Customers
3.7.3. Level of Integration
3.8. Regulatory Compliance
3.9. Competitive Landscape, 2021
3.9.1. Player Positioning Analysis
3.9.2. Key Strategies Adopted By Leading Players
CHAPTER 4. Business Process Outsourcing Market By Service
4.1. Introduction
4.2. Business Process Outsourcing Revenue By Service
4.2.1. Business Process Outsourcing Revenue (USD Billion) and Forecast, By Service, 2018-2030
4.2.2. Finance & Accounting
4.2.2.1. Finance & Accounting Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
4.2.3. Knowledge Process Outsourcing
4.2.3.1. Knowledge Process Outsourcing Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
4.2.4. Human Resources
4.2.4.1. Human Resources Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
4.2.5. Customer Services
4.2.5.1. Customer Services Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
4.2.6. Procurement & Supply Chain
4.2.6.1. Procurement & Supply Chain Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
4.2.7. Others
4.2.7.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
CHAPTER 5. Business Process Outsourcing Market By End-User
5.1. Introduction
5.2. Business Process Outsourcing Revenue By End-User
5.2.1. Business Process Outsourcing Revenue (USD Billion) and Forecast, By End-User, 2018-2030
5.2.2. Banking, Financial Services, and Insurance (BFSI)
5.2.2.1. Banking, Financial Services, and Insurance (BFSI) Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.3. Retail
5.2.3.1. Retail Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.4. Healthcare
5.2.4.1. Healthcare Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.5. IT & Telecommunication
5.2.5.1. IT & Telecommunication Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.6. Manufacturing
5.2.6.1. Manufacturing Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
5.2.7. Others
5.2.7.1. Others Market Revenue (USD Billion) and Growth Rate (%), 2018-2030
CHAPTER 6. North America Business Process Outsourcing Market By Country
6.1. North America Business Process Outsourcing Market Overview
6.2. U.S.
6.2.1. U.S. Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
6.2.2. U.S. Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
6.3. Canada
6.3.1. Canada Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
6.3.2. Canada Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
6.4. North America PEST Analysis
CHAPTER 7. Europe Business Process Outsourcing Market By Country
7.1. Europe Business Process Outsourcing Market Overview
7.2. U.K.
7.2.1. U.K. Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
7.2.2. U.K. Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
7.3. Germany
7.3.1. Germany Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
7.3.2. Germany Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
France
7.3.3. France Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
7.3.4. France Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
7.4. Spain
7.4.1. Spain Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
7.4.2. Spain Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
7.5. Rest of Europe
7.5.1. Rest of Europe Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
7.5.2. Rest of Europe Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
7.6. Europe PEST Analysis
CHAPTER 8. Asia Pacific Business Process Outsourcing Market By Country
8.1. Asia Pacific Business Process Outsourcing Market Overview
8.2. China
8.2.1. China Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.2.2. China Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.3. Japan
8.3.1. Japan Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.3.2. Japan Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.4. India
8.4.1. India Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.4.2. India Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.5. Australia
8.5.1. Australia Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.5.2. Australia Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.6. South Korea
8.6.1. South Korea Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.6.2. South Korea Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.7. Rest of Asia-Pacific
8.7.1. Rest of Asia-Pacific Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
8.7.2. Rest of Asia-Pacific Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
8.8. Asia Pacific PEST Analysis
CHAPTER 9. Latin America Business Process Outsourcing Market By Country
9.1. Latin America Business Process Outsourcing Market Overview
9.2. Brazil
9.2.1. Brazil Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
9.2.2. Brazil Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
9.3. Mexico
9.3.1. Mexico Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
9.3.2. Mexico Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
9.4. Rest of Latin America
9.4.1. Rest of Latin America Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
9.4.2. Rest of Latin America Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
9.5. Latin America PEST Analysis
CHAPTER 10. Middle East & Africa Business Process Outsourcing Market By Country
10.1. Middle East & Africa Business Process Outsourcing Market Overview
10.2. GCC
10.2.1. GCC Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
10.2.2. GCC Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
10.3. South Africa
10.3.1. South Africa Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
10.3.2. South Africa Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
10.4. Rest of Middle East & Africa
10.4.1. Rest of Middle East & Africa Business Process Outsourcing Revenue (USD Billion) and Forecast By Service, 2018-2030
10.4.2. Rest of Middle East & Africa Business Process Outsourcing Revenue (USD Billion) and Forecast By End-User, 2018-2030
10.5. Middle East & Africa PEST Analysis
CHAPTER 11. Player Analysis Of Business Process Outsourcing Market
11.1. Business Process Outsourcing Market Company Share Analysis
11.2. Competition Matrix
11.2.1. Competitive Benchmarking of key players by price, presence, market share, and R&D investment
11.2.2. New Product Launches and Product Enhancements
11.2.3. Mergers And Acquisition In Global Business Process Outsourcing Market
11.2.4. Partnership, Joint Ventures and Strategic Alliances/ Sales Agreements
CHAPTER 12. Company Profile
12.1. Infosys Limited
12.1.1. Company Snapshot
12.1.2. Business Overview
12.1.3. Financial Overview
12.1.3.1. Revenue (USD Billion), 2021
12.1.3.2. Infosys Limited 2021 Business Process Outsourcing Business Regional Distribution
12.1.4. Product/Service and Specification
12.1.5. Recent Developments & Business Strategy
12.2. CBRE Group Inc.
12.3. Accenture
12.4. NCR Corporation
12.5. HCL
12.6. Sodexo
12.7. Capgemini
12.8. TTEC Holdings, Inc.
12.9. Wipro
12.10. Amdocs