Global Business Process Outsourcing (BPO) Strategic Analysis Report Report 2023-2030: Commoditization, and Rise of Industry-Specific BPO, MSM & Bundled IT-BPO Services to Reshape the Landscape

DUBLIN, Dec. 12, 2023 /PRNewswire/ — The “Business Process Outsourcing (BPO) – Global Strategic Business Report” report has been added to  ResearchAndMarkets.com’s offering.

Global Business Process Outsourcing (BPO) Market to Reach $477.7 Billion by 2030

The global market for Business Process Outsourcing (BPO) estimated at US$292.3 Billion in the year 2022, is projected to reach a revised size of US$477.7 Billion by 2030, growing at a CAGR of 6.3% over the analysis period 2022-2030.

This report examines the dynamic landscape of the Business Process Outsourcing (BPO) industry in 2023, shedding light on the significant changes influenced by the COVID-19 pandemic. It begins with an introduction to BPO, outlining its various models and service offerings.

The competitive market presence section assesses the strength and activity of key players in the global BPO arena and provides insights into market share trends. The report delves into the diverse business models employed by BPO providers, highlighting the salient features of transactional, niche, and comprehensive BPO models.

Customer Services, one of the segments analyzed in the report, is projected to record 7.2% CAGR and reach US$186 Billion by the end of the analysis period. Growth in the Human Resources segment is estimated at 5.2% CAGR for the next 8-year period.

Furthermore, it analyzes the current state of the BPO market and its outlook, emphasizing the role of customer services as a principal growth driver, with IT & Telecom leading the industry while BFSI exhibits rapid expansion. The report explores market opportunities across developed and developing regions, offering a glimpse into emerging trends and regions like Asia, Europe, and Latin America. It also provides an overview of major outsourcing destinations.

A comprehensive competitive landscape analysis focuses on key players in Finance & Accounting, Procurement, and HR BPO services, showcasing their market dominance and strategies for value chain enhancement. The report underscores the importance of transparency in maintaining a competitive edge. Lastly, it highlights recent market activities and key world brands in the BPO sector, offering a holistic view of the industry’s current state. This report serves as an indispensable resource for stakeholders seeking to navigate the evolving BPO landscape and capitalize on the myriad opportunities it presents in 2023.

 The U.S. Market is Estimated at $106.4 Billion, While China is Forecast to Grow at 7.2% CAGR

The Business Process Outsourcing (BPO) market in the U.S. is estimated at US$106.4 Billion in the year 2022. China, the world’s second largest economy, is forecast to reach a projected market size of US$34.9 Billion by the year 2030 trailing a CAGR of 7.2% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.7% and 5.4% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 6% CAGR.

What`s New?

Special discussions on the global economic climate and market sentimentCoverage on global competitiveness and key competitor percentage market sharesMarket presence analysis across multiple geographies – Strong/Active/Niche/TrivialOnline interactive peer-to-peer collaborative bespoke updatesAccess to digital archives and trademarked research platformComplimentary updates for one yearAccess to curated YouTube video transcripts of market sentiments shared by CEOs, domain experts and market influencers via interviews, podcasts, press statements and event keynotes

MARKET TRENDS & DRIVERS

Established Role in Business Process Implementation Across Diverse Sectors to Sustain Long-Term GrowthBPO: A Robust Tool for Enabling Global ExpansionFor Creating Truly Global ProductsTo Drive Satisfaction Levels Among Customers WorldwideHigher Awareness about Outsourcing Benefits: Another Major Factor Favoring Long-Term GrowthAdvanced Technologies Strengthen Capabilities of BPO ModelInternet of Things (IoT) for Effective Delivery of BPO ServicesRobotic Automation & Artificial Intelligence (AI) Seek Bigger Role in BPO OperationsUpcoming Changes with AI & Robotic Process AutomationArtificial Intelligence Augments Efficiency of BPO OperationsSocial Media Networking Trend Transforms Business StrategiesGrowing Popularity of Cloud ComputingCloud Communication – A Winning Solution for BPO PlayersGrowing Use of Mobile Based Customer Service ApplicationsVoice Biometrics: Growing Role in Customer VerificationBig Data Remains in Contention to Streamline OperationsBPO Providers Warm up to Green ComputingData Analysis Software Bolsters BPO CapabilitiesVoice Recognition Improvements to Benefit BPOsUCaaS Emerges as Low-cost Customer Service SolutionBPOs Turn New Leaf by Offering Social Media Management Solutions and ServicesStrategic Innovations Take Center Stage in BPO IndustrySelect Latest Innovations in the BPO MarketCommoditization, and Rise of Industry-Specific BPO, MSM & Bundled IT-BPO Services to Reshape the BPO MarketPlatform BPO Seeks OpportunitiesPlatform BPO Vs Traditional BPOAdvantages of Platform BPOChallenges for Platform BPOSourcing Strategy: Means to Achieve Business ProcessSole Sourcing: A Model for Increasing Operational EfficiencyMulti-Source Approach Gathers SteamThe Importance of Impact SourcingOffshore BPO Remains Highly Relevant Offering Cost EconomiesNearshoring Finds Favor among BusinessesTrade-off between Quality & Cost Warrants Revamp of the Global BPO IndustryEmphasis on Business Process Improvement to Extend OpportunitiesSmall and Mid-Size Businesses (SMBs): Expanding ClienteleCybersecurity Gains Prominence, as Cyberattacks Become RampantNovel Opportunities for BPO in New Business AreasAn Insight into Major Horizontal SegmentsCustomer Services BPO: Largest Product CategoryHuman Resources BPO (HRO) Remains a High-Profile SegmentFinance and Accounting BPO (FAO): A Thriving MarketKnowledge Process Outsourcing (KPO): A Small yet Growing MarketProcurement BPO: An OverviewReview of Select End-Use MarketsManufacturing: Noteworthy End-Use SectorCOVID-19 Impact on Manufacturing Sector to Curtail Short-Term Prospects for BPO ServicesTelecommunications & TechnologyBanking, Insurance & Finance ServicesBanking SectorInsuranceRetail SectorOther End-Use SectorsIssues & ChallengesProtectionist Policies Niggle Offshore BPOsUncertainties in Politico-Economic Policies Challenge BPO SectorRe-shoring Strategies Highlight Salary Disparities in Different RegionsAlternate Offshore Locations Challenge Dominance of Traditional CentersData Security IssuesDecline in IT Spending & High InflationIncreasing Automation Requires BPO Providers to rethink Existing Strategies

FOCUS ON SELECT PLAYERS (Total 266 Featured)

Accenture PLCAtos SEAMDOCSADP, Inc.API Outsourcing, Inc.3i Infotech Ltd.31West Global ServicesAllsec Technologies Ltd.Allzone Management SolutionsArvato Systems GmbHAlight Solutions LLCAccess HealthcareArise Virtual Solutions Inc.Angler TechnologiesApdata do Brasil Software Ltd

For more information about this report visit https://www.researchandmarkets.com/r/7rxd49

About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]
 
For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
 
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

Logo: https://mma.prnewswire.com/media/539438/Research_and_Markets_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/global-business-process-outsourcing-bpo-strategic-analysis-report-report-2023-2030-commoditization-and-rise-of-industry-specific-bpo-msm–bundled-it-bpo-services-to-reshape-the-landscape-302013031.html

SOURCE Research and Markets