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Automation Fuelling Growth in BPO Market to ~$600bn by 2022BOSTON, LONDON and PARIS, June 8, 2018 /PRNewswire/ -- Impact of cannibalization far outstripped by new demand creation 2017 was an excellent year for pure-play BPS vendors as the automation opportunity in BPS rapidly moved beyond RPA, through NLP, into service delivery involving completely new combinations of technologies and channels. Going forward, this need for process reimagination and digitalization made possible by new technologies is accelerating, increasing the opportunities for BPS vendors. And while it is true that automation and digitalization cannibalize BPS contracts on a like-for-like basis, these new technologies and digitalization are having a much greater upside impact in creating new demand than they are on the downside. (Logo: https://mma.prnewswire.com/media/643421/NelsonHall_Logo.jpg ) Overall, the need for process automation and re-invention is having a twofold effect. Predictably it is providing BPS vendors with opportunities to extend the scope and value of existing contracts. Secondly, and more importantly, it is also opening up opportunities to identify and implement new digital process models and new ways of working across previously sacrosanct in-house shared services and retained organizations. Specifically, by service line:
The impacts of these factors are evident in NelsonHall's latest version of its highly-acclaimed and comprehensive business process services market forecast, "Global BPS Market Forecast: 2018-2022", which shows the global BPS market due to reach ~$600bn by 2022. The report consists of 305 pages and is complemented by NelsonHall's self-service forecasting facility which enables subscribers to download forecasts and vendor shares tailored to their needs across any combination of 81 BPS service lines, 39 geographies, and 39 industry sectors. The forecast is essential reading for executives with business planning responsibility in the business process services (BPS) or BPO industry. The "Global BPS Market Forecast: 2018-2022" is part of NelsonHall's BPS Market Development program. For further information on the report and the program, contact NelsonHall's John Willmott. About NelsonHall NelsonHall is the leading global analyst firm dedicated to helping organizations understand the 'art of the possible' in next generation IT and business services. With analysts in the U.S., U.K., and Europe, NelsonHall provides buy-side organizations with detailed, critical information on markets and vendors (including NEAT assessments) that helps them make fast and highly informed sourcing decisions. For service providers, NelsonHall provides deep knowledge of market dynamics and user requirements to help them hone their go-to-market strategies. For media inquiries, please contact: |