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Business Process Outsourcing Market Analysis Highlights the Impact of COVID-19 (2020-2024) | Focus on Reducing Operational Costs to Boost Market Growth | TechnavioThe global business process outsourcing market size is poised to grow by USD 76.90 billion during 2020-2024, progressing at a CAGR of over 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20201027005703/en/ Technavio has announced its latest market research report titled Global Business Process Outsourcing Market 2020-2024 (Graphic: Business Wire) BPO helps minimize operating costs and enhances business efficiency. BPO involves service aid for different business processes such as procurement, logistics, and customer care. Therefore, organizations have started outsourcing their business processes and operations to focus on and improve their core businesses. Thus, organizations can save a substantial amount of money and time if they outsource business processes. Moreover, vendors are adopting various technologies to reduce operational costs. For instance, in December 2019, Accenture (News - Alert) launched the Accenture Cloud Native Solution to help enterprises leverage the public cloud for maximum business agility and results. These beneficial aspects of BPO services are driving the business process outsourcing market growth. The market is expected to grow during the forecast period. Register for a free trial today and gain instant access to 17,000+ market research reports. Technavio's SUBSCRIPTION platform Report Highlights:
View market snapshot before purchasing Increasing Adoption of BPO by IT and Telecom Service Providers will be a Key Market Trend Telecom companies benefit from outsourcing their customer services to BPO companies as it enables them to manage cost pressures, optimize investments, and get specialized resources while establishing a flexible strategy to retain existing customers and acquire new customers. Social media companies and Internet service providers are encouraging telecom companies to constantly create new business models and innovative offerings to improve customer experience. Emerging technologies have enhanced the productivity of business processes. For instance, RPA helps telecom companies in managing various tasks, such as managing complicated and unstructured datasets. AI enables the analysis and prioritization of customer queries, which leads to faster resolutions. This technology improves customer services for telecom companies. Increasing adoption of BPO by IT and telecom service providers has been identified as one of the key market growth drivers. Technavio's sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report Business Process Outsourcing Market 2020-2024: Key Highlights
Buy 1 Technavio report and get the second for 50% off. Buy 2 Technavio reports and get the third for free. View market snapshot before purchasing Executive Summary Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer Landscape Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
About Us Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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