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Business Process Outsourcing Market to grow by USD 40.16 Billion during 2021-2025, Accenture Plc and Automatic Data Processing Inc. emerge as Key Contributors to growth| Technavio
NEW YORK, May 26, 2021 /PRNewswire/ -- Technavio has been monitoring the business process outsourcing market and it is poised to grow by USD 40.16 billion during 2021-2025, progressing at a CAGR of over 4% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. COVID-19 will have at par impact on the business process outsourcing market.
Frequently Asked Questions:
- Based on segmentation by end-user, which is the leading segment in the market?
IT and telecommunication led the market during the forecast period. - What is the major driver influencing the market?
The increasing adoption of BPO by IT and telecom service providers will influence the market growth positively during the forecast period, - At what rate is the market projected to grow?
The market growth will accelerate at a CAGR of about 4%. - What is the key challenge?
Data breaches may impede market growth during the forecast period. - How big is the North American market?
38% of the market growth will be registered by North America.
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The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Tata Consultancy Services Ltd., Wipro Ltd., and ZTE Corp. are some of the major market participants. Although the focus on reducing operational costs and increasing adoption of BPO by IT and telecom service providers will offer immense growt opportunities, data breaches are likely to pose a challenge for the market vendors. In a bid to help players strengthen their market foothold, this business process outsourcing market forecast report provides a detailed analysis of the leading market vendors. The report also empowers industry honchos with information on the competitive landscape and insights into the different product offerings offered by various companies.
Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.
Business Process Outsourcing Market 2021-2025: Segmentation
Business Process Outsourcing Market is segmented as below:
- End-user
- IT And Telecommunication
- BFSI
- Retail
- Healthcare
- Others
- Geography
- North America
- Europe
- APAC
- MEA
- South America
To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR44588
Business Process Outsourcing Market 2021-2025: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The business process outsourcing market report covers the following areas:
- Business Process Outsourcing Market Size
- Business Process Outsourcing Market Trends
- Business Process Outsourcing Market Industry Analysis
This study identifies a surging number of BPOs as one of the prime reasons driving the business process outsourcing market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio's in-depth research has direct and indirect COVID-19 impacted market research reports.
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Business Process Outsourcing Market 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist business process outsourcing market growth during the next five years
- Estimation of the business process outsourcing market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the business process outsourcing market across North America, Europe, APAC, MEA, and South America
- Analysis of the market's competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of business process outsourcing market vendors
Table of Contents:
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- IT and telecommunication - Market size and forecast 2020-2025
- BFSI - Market size and forecast 2020-2025
- Retail - Market size and forecast 2020-2025
- Healthcare - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End-user
Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Automatic Data Processing Inc.
- Capgemini SE
- Infosys Ltd.
- International Business Machines Corp.
- NEC Corp.
- NTT DATA Corp.
- Tata Consultancy Services Ltd.
- Wipro Ltd.
- ZTE Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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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Email: [email protected]
Website: www.technavio.com/
Report: https://www.technavio.com/report/business-process-outsourcing-market-size-industry-analysis
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