Global Business Process Outsourcing Market Size, Share, Forecast Report, 2020-2027

The report provides rational insights along with historical and forecast data to aid in better understanding of the Global Business Process Outsourcing Market. The report provides a comprehensive analysis of key factors that are expected to drive the growth of the Business Process Outsourcing market. This study also provides a detailed overview of the opportunities along with the current trends observed in the target market.

The global business process outsourcing market size was valued at USD 221.5 billion in 2019 and is expected to witness a CAGR of 8.0% over the forecast period. Reduced international trade barriers and improved telecommunication and IT capabilities have led to a situation where organizations are increasingly interlinked with each other for carrying out business. Moreover, organizations are focusing on reducing the cost of conducting business to access global resources to meet the demands of the industry. Thus, organizations are leveraging the benefits of outsourcing and are focusing on core competencies, thereby generating avenues in the market for business process outsourcing.

The major operations offered by Business Process Outsourcing (BPO) services include business administration, supply chain management, sales, marketing, and customer care services. The players in the market for business process outsourcing are engaged in providing reliable and cost-effective services across various industries and sectors such as BFSI, manufacturing, retail, IT and Telecommunications, and healthcare. The aforementioned industries comprise a few of the major application areas of business process outsourcing, and companies operating in these verticals prefer to incorporate business process outsourcing are part of their business strategy, in order to allow them to focus on their fundamental business activities and ultimately increase their profitability.

The business activities of an organization are classified into critical activities, core activities, and non-core activities. Core activities are the company’s primary competencies that give the company a strategic advantage. Critical activities require specialized skill-set. Similarly, non-core activities are the supporting activities that largely involve relationship management between consumers and products. Classifying these activities is vital in order to allocate resources appropriately to ensure timely delivery of services. Nowadays, companies have begun to place greater emphasis on core activities with a view to maintain their market presence and expand their customer base, which results in outsourcing of resources for non-core activities.

Companies engaging in business process outsourcing can choose to outsource specific services or business functions based on their individualistic requirements. These services include payroll, IT, logistics, and legal services. Reduction of labor costs as well as reducing and/or eliminating overheads arising from human resource and equipment are some of the potential benefits of outsourcing. Furthermore, business process outsourcing services offer higher flexibility as it enables businesses to retaliate faster to changing market dynamics by adapting the BPO processes as the market changes. For instance, organizations don’t have to invest in high capacity in-house servers or need not be concerned about outdated technologies.

Services such as training and recruitment require additional efforts and time. Owing to this, some companies prefer to outsource human resource services. For instance, Accenture is one of the pioneers engaged in offering human resources and finance and accounting services. The company’s human resource service include workforce performance, recruitment, payroll, benefits and compensation, and other learning and employee services. The company’s human resource services cater to clients such as Microsoft, General Motors, IBM, and Goodyear

The report covers major players operating in the market along with the key strategies implemented to achieve a competitive edge against a majority of the vendors which provides a competitive outlook of the industry. The competitive landscape further includes details about different players and their position on a global and a local level is also explained in detail in this compiled study. These insights were prepared through mapping business strategies and products that offer high revenue generation capacities. Key players of the global Business Process Outsourcing market are included as given below:

The competition in the market for business process outsourcing results from the presence of major global players such as Accenture, Infosys Limited, HCL, Wipro, Capgemini, and Amdocs. A diverse range of services allows companies to gain a competitive edge in the market for business process outsourcing.  For instance, Capgemini, one of the pioneer in the BPO industry is engaged in offering multiple BPO services such as financial services, supply chain and procurement, and business analytics.

These market players particularly focus on entering into mergers and acquisitions and joint ventures/collaborations in order to enhance their market presence. For Instance, in July 2018, Wipro Limited announced the acquisition of Alight HR Services in India for a total deal value of USD 1.5 billion. The company offers human resource outsourcing, IT outsourcing, and finance process outsourcing. Companies are focusing on setting up new BPO centers across the globe to expand their market presence and augment their existing customer base. For instance, in September 2017, Infosys Limited announced the establishment of a new service center in Netherlands. This office will be engaged in providing finance and accounting and other end-to-end outsourcing services.

The global Business Process Outsourcing market has been segmented as below:

• Service

  • Finance & Accounting

  • Human Resources

  • Knowledge Process Outsourcing

  • Procurement & Supply Chain

  • Customer Services

  • Others

• End-use 

  • Banking, Financial Services, and Insurance (BFSI)

  • Healthcare

  • Manufacturing

  • IT & Telecommunication

  • Retail

  • Others

• Global Business Process Outsourcing Market by Region
• North America
• Europe
• Asia Pacific
• Rest of the World

Reasons to Purchase this Report:

Estimates Business Process Outsourcing development trends with SWOT analysis

• Detailed business profiles including product offerings, recent developments, key financial information, and strategies employed by main market players
• Analysis of various regions and countries that includes the demand and supply based actions, which consequently have a major influence on the market’s expansion
• Market dynamics scenario, along with growth opportunities for players in the years to come
• Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the mentioned forecast period

Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects