Business Process Outsourcing Market Analysis by Size, Share, Opportunities, Revenue, Future Scope and Forecast 2029

Business Process Outsourcing Market size was valued at USD 181.79 Billion in 2022 and the total Business Process Outsourcing revenue is expected to grow at a CAGR of 7.09% from 2023 to 2029, reaching nearly USD 293.64 Billion.

Business Process Outsourcing Market Overview

The Business Process Outsourcing Market report published by MMR encompasses various segments that offer up-to-date business data and insights into the industry’s future through careful assessment and examination. Titled as the Business Process Outsourcing Market Report 2021, the report categorizes the market by manufacturer, type, application, and region. It provides an in-depth analysis, revenue statistics, and other crucial data about the global Business Process Outsourcing industry. The report also covers various trends, drivers, limitations, opportunities, and threats that the market is expected to face during the forecast period.

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Business Process Outsourcing Market Scope

The Business Process Outsourcing market report covers the forecast period from 2022 to 2029, with 2021 as the base year. The market size in terms of value and volume for 2021 is estimated based on actual figures and outputs of prominent players worldwide. The market trends from the past five years, specifically from 2016, are taken into account while projecting the market outlook for the period of 2022 to 2029. However, the year 2021 is analyzed separately, considering the impact of regional lockdown measures.

Furthermore, the report provides a comprehensive analysis of the Business Process Outsourcing industry, including market segmentation based on product type, applications, end-use, and region. It incorporates an examination of historical market dynamics from 2018 to 2021, enabling readers to compare past trends with the current market scenarios and understand the contributions of key players.

Business Process Outsourcing Market Segmentation

With the largest market share of 22% in 2022, the IT and Telecom category led the global business process outsourcing market based on end users. By 2029, the market is predicted to continue to dominate and expand at a CAGR of 7.80%. The last 20 years have seen a complete global revolution in the IT and telecom sectors as a result of lightning-fast technical advancements. Many nations’ manufacturing and service industries require an advanced communications infrastructure. Global industrialization and the growth of IT and telecom companies are anticipated to be the main factors driving increasing demand for business process services in these sectors. Strong connectivity is becoming more and more necessary, and IT and telecom BPO services can handle security.

During the projected period, the BFSI segment is anticipated to rise at a compound annual growth rate (CAGR) of 8.19%, from its 18% market share in 2022. Businesses are using outsourcing procedures to manage investments and assets and improve customer service. Financial institutions employ business process outsourcing (BPO) to improve their cost effectiveness. To improve BFSI client services, a lot of BFSI companies are choosing to outsource processes for different BFSI domains, like asset and investment management. Outsourcing commercial procedures has been a dependable method for enhancing service quality and process flexibility for a considerable amount of time.

 

Business Process Outsourcing Market Size and Forecast, by Service (2022-2029)
1. Voice Processing
2. Telemarketing Services
3. Customer Care Services
Business Process Outsourcing Market Size and Forecast, by Outsourcing Type (2022-2029)
1. Offsource
2. Nearshore
3. Onshore
Business Process Outsourcing Market Size and Forecast, by Application (2022-2029)
3. Sales & Marketing
3. Procurement & Supply Chain
3. Facilities & Administrations
4. Customer Care
5. Training
Business Process Outsourcing Market Size and Forecast, by Organization Size (2022-2029)
1. Large Enterprises
2. SMEs
Business Process Outsourcing Market Size and Forecast, by Ownership (2022-2029)
1. Captive
2. Third-Party
Business Process Outsourcing Market Size and Forecast, by End User (2022-2029)
1. BFSI
2. IT & Telecom
3. Healthcare
4. Manufacturing
5. Retail & E-Commerce
6. Government & Defense
7. Transportation & Logistics
8. Travel & Hospitality
9. Education
Business Process Outsourcing Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America

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Business Process Outsourcing Market Key Players

• ADP, LLC. (New Jersey)
• Conduent Inc., (New Jersey)
• Accenture PLC. (Ireland)
• WNS Global Services Ltd. (India)
• Capgemini (France)
• Infosys BPM Limited (India)
• IBM Corporation (New York)
• Tata Consultancy Services Limited (TCS) (India)
• TTEC Holdings, Inc., (Colorado)
• Conneqt Business Solution Limited (India)
• HCL Technologies (India)
• Wipro Ltd. (India)
• Amdocs (Missouri)
• NCR Corporation (Georgia)
• Sodexo (France)
• Genpact (India)
• Concentrix (California)
• Teleperformance (France)
• Plaxonic Technologies (India)
• EXL Service (New York)
• Skyes (Florida)
• OctopusTech Solutions (India)
• Aegis Limited (India)
• CBRE Group, Inc. (Texas)
• Anderson Group BPO Inc. (Philippines)
• Automatic Infotech (India)
• Avaloq (Switzerland)
• Nihon (Japan)
• Nomura Research Institute, Ltd. (Japan)
• NTT Data (India)
• ValueNotes Strategic Intelligence Pvt. Ltd. (India)
• Oracle (Texas)
• TriNet Group, Inc. (California)

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Business Process Outsourcing Market Regional Analysis

The Business Process Outsourcing market report provides comprehensive insights and understanding of the current trends, dynamics, and key issues within the market. It highlights the most significant developments that impact the industry, helping readers stay informed about the latest advancements. The report aids in identifying the crucial information presented and assessing the competitive landscape of major companies, analyzing Business Process Outsourcing market dynamics, and other factors that assist in formulating effective marketing strategies.

Key Questions answered in the Business Process Outsourcing Market Report are:

 

• What is Business Process Outsourcing Market?
• What is the forecast period of the Business Process Outsourcing Market?
• What is the competitive scenario of the Business Process Outsourcing market?
• Which region held the largest market share in the Business Process Outsourcing Market?
• What are the opportunities for the Business Process Outsourcing Market?
• What factors are affecting the Business Process Outsourcing market growth?
• Who are the key players of the Business Process Outsourcing market?
• Which company held the largest share in the Business Process Outsourcing market?
• What will be the CAGR of the Business Process Outsourcing market during the forecast period?
• What key trends are likely to emerge in the Business Process Outsourcing market in the coming years?

 

Key offerings:

• Market Share, Size, and Forecast by Revenue|2022-2029
• Market Dynamics- Growth drivers, Restraints, Investment Opportunities, and key trends
• Market Segmentation: A detailed analysis by Business Process Outsourcing#
• Landscape- Business Process Outsourcinging key players and other prominent key players.

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