Business Process Outsourcing Market Size, Growth, Trends | Report 2023-2032
The global business process outsourcing market was surpassed at USD 261.96 billion in 2022 and is expected to hit around USD 644.47 billion by 2032, growing at a CAGR of 9.42% from 2023 to 2032.
Key Pointers
| Report Coverage | Details |
| Market Size in 2022 | USD 261.96 billion |
| Revenue Forecast by 2032 | USD 644.47 billion |
| Growth rate from 2023 to 2032 | CAGR of 9.42% |
| Base Year | 2022 |
| Forecast Period | 2023 to 2032 |
| Regions Covered | North America, Europe, Asia Pacific, Latin America, Middle East & Africa |
| Companies Covered | Accenture; Amdocs; Capgemini; CBRE; HCL Technologies Limited; Infosys Limited (Infosys BPM); NCR Corporation; SODEXO; TTEC; Wipro |
BPO refers to the process of outsourcing operations and responsibilities of many business functions to external service providers. These services find prominent demand due to their benefits such as increased flexibility, reduced costs, and enhanced service quality. Moreover, the market allows businesses to refocus on their core business activities to deliver incremental value to their customers. Owing to these benefits, BPO services witness demand across end-use industries such as healthcare, BFSI, and IT & telecommunications.
The factors such as the rising focus of enterprises on improving efficiency and organizations’ agility, reducing operating costs, and accelerating core competencies to survive the constantly changing business dynamics drive the growth of the business process outsourcing market. Moreover, many organizations are focusing on reducing the cost of conducting business to accessing worldwide resources to meet the increasing industry demands. These aspects have encouraged the adoption of market services across several organizations that focus on technological trends such as cloud computing and Artificial Intelligence (AI) for driving business efficiency. Additionally, the impact of COVID-19 raised the demand for standardized platform services which offer BPOs to resolve complex business processes, thereby generating avenues for business process outsourcing market growth.
The increasing popularity of cloud computing in business process outsourcing is one of the prominent factors influencing the adoption of BPO services. Cloud computing aids BPO operators in increasing the time to market, reducing costs, and improving the quality control process. Moreover, cloud computing in the market assures instant computing support and system access, universal access, and flexible provisioning whenever needed for required business purposes. These benefits are expected to positively impact the adoption of cloud computing in the BPO market during the forecast period.
Concerns related to security and intellectual property rights are expected to restrain the growth of the market in the forecast period. The urge to reduce operational price lands the outsourcer in countries that do not have an established regulatory framework that is responsible for protecting the outsourcer from breach of confidentiality and violation of intellectual property rights. As a result, outsourcing companies are often concerned with the way they outsource and handle the information shared and are observed to be reluctant as even a small error can result in a permanent setback with respect to the company’s market position. Additionally, the rising of government initiatives implemented to promote the adoption of cloud technology in the outsourcing sector is anticipated to the growth of the BPO market.
Business Process Outsourcing Market Segmentations:
| By Service Type | By End-use |
|
Finance & Accounting Human Resource KPO Procurement & Supply Chain Customer Services Others |
BFSI Healthcare Manufacturing IT & Telecommunications Retail Others |
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. COVID 19 Impact on Business Process Outsourcing Market
5.1. COVID-19 Landscape: Business Process Outsourcing Industry Impact
5.2. COVID 19 - Impact Assessment for the Industry
5.3. COVID 19 Impact: Global Major Government Policy
5.4. Market Trends and Opportunities in the COVID-19 Landscape
Chapter 6. Market Dynamics Analysis and Trends
6.1. Market Dynamics
6.1.1. Market Drivers
6.1.2. Market Restraints
6.1.3. Market Opportunities
6.2. Porter’s Five Forces Analysis
6.2.1. Bargaining power of suppliers
6.2.2. Bargaining power of buyers
6.2.3. Threat of substitute
6.2.4. Threat of new entrants
6.2.5. Degree of competition
Chapter 7. Competitive Landscape
7.1.1. Company Market Share/Positioning Analysis
7.1.2. Key Strategies Adopted by Players
7.1.3. Vendor Landscape
7.1.3.1. List of Suppliers
7.1.3.2. List of Buyers
Chapter 8. Global Business Process Outsourcing Market, By Service Type
8.1. Business Process Outsourcing Market, by Service Type, 2023-2032
8.1.1. Finance & Accounting
8.1.1.1. Market Revenue and Forecast (2020-2032)
8.1.2. Human Resource
8.1.2.1. Market Revenue and Forecast (2020-2032)
8.1.3. KPO
8.1.3.1. Market Revenue and Forecast (2020-2032)
8.1.4. Procurement & Supply Chain
8.1.4.1. Market Revenue and Forecast (2020-2032)
8.1.5. Customer Services
8.1.5.1. Market Revenue and Forecast (2020-2032)
8.1.6. Others
8.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 9. Global Business Process Outsourcing Market, By End-use
9.1. Business Process Outsourcing Market, by End-use, 2023-2032
9.1.1. BFSI
9.1.1.1. Market Revenue and Forecast (2020-2032)
9.1.2. Healthcare
9.1.2.1. Market Revenue and Forecast (2020-2032)
9.1.3. Manufacturing
9.1.3.1. Market Revenue and Forecast (2020-2032)
9.1.4. IT & Telecommunications
9.1.4.1. Market Revenue and Forecast (2020-2032)
9.1.5. Retail
9.1.5.1. Market Revenue and Forecast (2020-2032)
9.1.6. Others
9.1.6.1. Market Revenue and Forecast (2020-2032)
Chapter 10. Global Business Process Outsourcing Market, Regional Estimates and Trend Forecast
10.1. North America
10.1.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.1.2. Market Revenue and Forecast, by End-use (2020-2032)
10.1.3. U.S.
10.1.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.1.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.1.4. Rest of North America
10.1.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.1.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2. Europe
10.2.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.2.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.3. UK
10.2.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.2.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.4. Germany
10.2.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.2.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.5. France
10.2.5.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.2.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.2.6. Rest of Europe
10.2.6.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.2.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3. APAC
10.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.3. India
10.3.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.3.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.4. China
10.3.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.3.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.5. Japan
10.3.5.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.3.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.3.6. Rest of APAC
10.3.6.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.3.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4. MEA
10.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.3. GCC
10.4.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.4.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.4. North Africa
10.4.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.4.4.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.5. South Africa
10.4.5.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.4.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.4.6. Rest of MEA
10.4.6.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.4.6.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5. Latin America
10.5.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.5.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5.3. Brazil
10.5.3.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.5.3.2. Market Revenue and Forecast, by End-use (2020-2032)
10.5.4. Rest of LATAM
10.5.4.1. Market Revenue and Forecast, by Service Type (2020-2032)
10.5.4.2. Market Revenue and Forecast, by End-use (2020-2032)
Chapter 11. Company Profiles
11.1. Accenture
11.1.1. Company Overview
11.1.2. Product Offerings
11.1.3. Financial Performance
11.1.4. Recent Initiatives
11.2. Amdocs
11.2.1. Company Overview
11.2.2. Product Offerings
11.2.3. Financial Performance
11.2.4. Recent Initiatives
11.3. Capgemini
11.3.1. Company Overview
11.3.2. Product Offerings
11.3.3. Financial Performance
11.3.4. Recent Initiatives
11.4. CBRE
11.4.1. Company Overview
11.4.2. Product Offerings
11.4.3. Financial Performance
11.4.4. LTE Scientific
11.5. HCL Technologies Limited
11.5.1. Company Overview
11.5.2. Product Offerings
11.5.3. Financial Performance
11.5.4. Recent Initiatives
11.6. Infosys Limited (Infosys BPM)
11.6.1. Company Overview
11.6.2. Product Offerings
11.6.3. Financial Performance
11.6.4. Recent Initiatives
11.7. NCR Corporation
11.7.1. Company Overview
11.7.2. Product Offerings
11.7.3. Financial Performance
11.7.4. Recent Initiatives
11.8. SODEXO
11.8.1. Company Overview
11.8.2. Product Offerings
11.8.3. Financial Performance
11.8.4. Recent Initiatives
11.9. TTEC
11.9.1. Company Overview
11.9.2. Product Offerings
11.9.3. Financial Performance
11.9.4. Recent Initiatives
11.10. Wipro
11.10.1. Company Overview
11.10.2. Product Offerings
11.10.3. Financial Performance
11.10.4. Recent Initiatives
Chapter 12. Research Methodology
12.1. Primary Research
12.2. Secondary Research
12.3. Assumptions
Chapter 13. Appendix
13.1. About Us
13.2. Glossary of Terms
Cross-segment Market Size and Analysis for
Mentioned Segments
Additional Company Profiles (Upto 5 With No Cost)
Additional Countries (Apart From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers