Business Process Outsourcing Market to record USD 40.16 Bn incremental growth; Evolving Opportunities with Accenture Plc and Automatic Data Processing Inc.

NEW YORK, Sept. 27, 2022 /PRNewswire/ -- The global business process outsourcing market size is expected to grow by USD 40.16 billion, accelerating at a CAGR of 4% between 2020 and 2025. Technavio has tracked the recent trends and developments in the IT consulting and other services industry. Some of the factors including the number of major IT consulting deals signed worldwide, revenue generated by service providers offering IT consulting services, IT budgets allocated by central and state governments across major markets, and others are considered in estimating the size of the market.

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The market is driven by the focus on reducing operational costs. Setting up an in-house BPO team requires significant capital investment. It requires an extra workforce, infrastructure, and training for new employees. Hence, many organizations outsource their business processes and operations to focus on their core business. This helps them minimize operations costs and improve overall efficiency. It is estimated that BPO services can yield between 30%-50% cost saving on operating costs for a company. Thus helping organizations save a substantial amount of money and time when outsourcing business processes. All these factors are driving the growth of the global business process outsourcing market.

In addition, the rising emphasis on process automation is anticipated to further boost the growth of the business process outsourcing market. However, the risk of data breaches might reduce the growth potential in the market.

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Major Business Process Outsourcing Companies:

• Accenture Plc: The company offers intelligent finance operations, marketing solutions, and other services. The services are availed by SynOps. It helps create a data-driven operating model that connects intelligent technologies, talent, and data and analytics to provide real-time, actionable insights.
• Automatic Data Processing Inc.: The company offers payroll outsourcing, small business payroll, and other services.
• Capgemini SE: The company offers supply chain management solutions. It includes a range of services integrating supply chain master data with planning, execution, and analytics. It offers finance and accounting solutions and other services.
• Infosys Ltd.: The company offers data analytics solutions.
• International Business Machines Corp.: The company offers procurement and sourcing services, financial transformation services, and other services.
• NEC Corp.
• NTT DATA Corp.
• Tata Consultancy Services Ltd.
• Wipro Ltd.
• ZTE Corp.

Business Process Outsourcing Market End-user Outlook (Revenue, USD Billion, 2020-2025)

• IT and telecommunication - size and forecast 2020-2025
• BFSI - size and forecast 2020-2025
• Retail - size and forecast 2020-2025
• Healthcare - size and forecast 2020-2025
• Others - size and forecast 2020-2025

The IT and telecommunication industry is the prime end-user in the market. The segment is driven by factors such as technological advances, fast growth in data traffic, and growing demand for digital content and communication by consumers. The market growth in the segment will be significant over the forecast period.

Business Process Outsourcing Market Geography Outlook (Revenue, USD Billion, 2020-2025)

• North America - size and forecast 2020-2025
• Europe - size and forecast 2020-2025
• APAC - size and forecast 2020-2025
• MEA - size and forecast 2020-2025
• South America - size and forecast 2020-2025

North America will dominate the market growth, occupying 38% of the global market share. The market in North America is mature compared to other regional markets. The increasing outsourcing of services by companies to low-wage countries such as India and the Philippines is driving the growth of the business process outsourcing market in North America.

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Related Reports:

• IT Business Process Outsourcing (BPO) Market by Type and Geography - Forecast and Analysis 2022-2026
• Global Technical Support Outsourcing Market by Type and Geography - Forecast and Analysis 2022-2026

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

• 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

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

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