Business Process Outsourcing Market Global Industry Analysis and Forecast (2023-2029) by Service, Outsourcing Type, Application, Organization Size, Ownership, End-User, and Region. The Business Process Outsourcing Market size was valued at USD 181.79 Billion in 2022 and the total Business Process Outsourcing revenue is expected to grow at a CAGR of 7.09% from 2023 to 2029, reaching nearly USD 293.64 Billion.
Business Process Outsourcing Market Overview
As per Maximize Market Research, a global business research and consultancy firm, the total global market for Business Process Outsourcing Market was USD in 2022 and is expected to grow at a CAGR of percent over the forecast period to reach USD by 2029.
Business Process Outsourcing Market Dynamics
The market for business process outsourcing is anticipated to benefit from a sharp increase in investments in smart city projects across several nations in the world. Information and communication technology are used in “smart cities” to effectively manage and run urban services including water supply, law enforcement, and transportation systems. Smart cities employ a technology that transfers data over a network with little to no human contact and by utilizing internet capabilities. Service demand is anticipated to rise as smart cities use a variety of tools to operate efficiently. In India, more than 5000 smart city projects totaling approximately USD 26.3 billion were in development in 2022.
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Business Process Outsourcing Market Scope and Methodology
The report comprehensively assesses the Business Process Outsourcing market’s size estimation, encompassing existing and upcoming trends. It delivers an extensive examination of pivotal advancements, marketing tactics, supply and demand indicators, and profiles of market proprietors, leaders, potential contenders, and new entrants. Employing a bottom-up approach, the report estimates the Business Process Outsourcing Market. Primary data sources involve interviews with notable industry experts, business owners, and marketing specialists, while secondary sources encompass financial reviews and annual reports of top manufacturers. For comprehensive insights into market penetration, competitive landscape, demand analysis, and regional evaluation, the study spans local, regional, and global levels.
Business Process Outsourcing Market Regional Insights
The Business Process Outsourcing market exhibits extensive categorization across North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. The Regional Analysis furnishes the current status of the Business Process Outsourcing market within the countries covered. This report offers a comprehensive assessment of factors, market dimensions, growth rates, and regional import-export dynamics.
Business Process Outsourcing Market Segmentation
According to End-User, the IT and Telecom category held the largest market share of 22% in the worldwide business process outsourcing market in 2022. By 2029, the market is anticipated to expand at a CAGR of 7.80% while retaining its leadership. Rapid technical advancements over the past 20 years have caused a complete overhaul of the IT and telecommunications industries worldwide. For the manufacturing and service sectors in diverse nations, a cutting-edge telecommunications infrastructure is essential. The need for business process services in the IT and telecommunications industries is anticipated to expand primarily due to the growth of IT and telecom businesses and global industrialization. BPO services in IT and telecom address the expanding demand for reliable connectivity.
Business Process Outsourcing Market Size and Forecast, by Service (2022-2029)
1. Voice Processing
2. Telemarketing Services
3. Customer Care Services
Business Process Outsourcing Market Size and Forecast, by Outsourcing Type (2022-2029)
1. Offsource
2. Nearshore
3. Onshore
Business Process Outsourcing Market Size and Forecast, by Application (2022-2029)
1. Sales & Marketing
2. Procurement & Supply Chain
3. Facilities & Administrations
4. Customer Care
5. Training
Business Process Outsourcing Market Size and Forecast, by Organization Size (2022-2029)
4. Large Enterprises
4. SMEs
Business Process Outsourcing Market Size and Forecast, by Ownership (2022-2029)
1. Captive
2. Third-Party
Business Process Outsourcing Market Size and Forecast, by End User (2022-2029)
1. BFSI
2. IT & Telecom
3. Healthcare
4. Manufacturing
5. Retail & E-Commerce
6. Government & Defense
7. Transportation & Logistics
8. Travel & Hospitality
9. Education
10. Energy & Utilities
11. Others
Business Process Outsourcing Market Size and Forecast, by Region (2022-2029)
1. North America
2. Europe
3. Asia Pacific
4. Middle East and Africa
5. South America
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Business Process Outsourcing Market Key Players
• ADP, LLC. (New Jersey)
• Conduent Inc., (New Jersey)
• Accenture PLC. (Ireland)
• WNS Global Services Ltd. (India)
• Capgemini (France)
• Infosys BPM Limited (India)
• IBM Corporation (New York)
• Tata Consultancy Services Limited (TCS) (India)
• TTEC Holdings, Inc., (Colorado)
• Conneqt Business Solution Limited (India)
• HCL Technologies (India)
• Wipro Ltd. (India)
• Amdocs (Missouri)
• NCR Corporation (Georgia)
• Sodexo (France)
• Genpact (India)
• Concentrix (California)
• Teleperformance (France)
• Plaxonic Technologies (India)
• EXL Service (New York)
• Skyes (Florida)
• OctopusTech Solutions (India)
• Aegis Limited (India)
• CBRE Group, Inc. (Texas)
• Anderson Group BPO Inc. (Philippines)
• Automatic Infotech (India)
• Avaloq (Switzerland)
• Nihon (Japan)
• Nomura Research Institute, Ltd. (Japan)
• NTT Data (India)
• ValueNotes Strategic Intelligence Pvt. Ltd. (India)
• Oracle (Texas)
• TriNet Group, Inc. (California)
Key questions answered in the Business Process Outsourcing Market are:
- What is Business Process Outsourcing?
- What was the Business Process Outsourcing market size in 2022?
- What are the different segments of the Business Process Outsourcing Market?
- What growth strategies are the players considering to increase their presence in Business Process Outsourcing?
- What are the upcoming industry applications and trends for the Business Process Outsourcing Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Business Process Outsourcing Market?
- Who are the key players in the Business Process Outsourcing market?
- What segments are covered in the Business Process Outsourcing Market?
- Who are the leading companies and what are their portfolios in Business Process Outsourcing Market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2023−2029
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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