Global BFSI BPO Services Market Size study, By Service Type (Customer Services, Finance & Accounting, Human Resource, KPO, Procurement & Supply Chain), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (Banks, Capital Mark

Global BFSI BPO Services Market Size study, By Service Type (Customer Services, Finance & Accounting, Human Resource, KPO, Procurement & Supply Chain), By Enterprise Size (Large Enterprises and Small & Medium Enterprises), By End User (Banks, Capital Markets, Insurance Companies), and Regional Forecasts 2022-2028

Global BFSI BPO Services Market is valued approximately USD XX million in 2021 and is anticipated to grow with a healthy growth rate of more than XX % over the forecast period 2022-2028.

BFSI BPO or Business process outsourcing refers to a strategic tool that supports Banking and Financial Institutions to effecintly manage its business growth and account servicing functions.Banks and Financial Institutions appoints a third party vendors to deliver services or perform tasks, which is normally undertaken by financial institutions such as customer services, mail and digital marketing etc.Through BPO services companies can save cost and can focus on core banking services. The growing expansion of cloud based services and increasing growth of BFSI Sector as well as recent strategic acquisition from leading market playersare factors that are accelerating the global market demand. For instance, according to Statista - In 2021, the global cloud applications market was valued at USD 133.6 billion and it is projected to grow to USD 168.6 billion by 2025.Moreover, leading market players are working towards new acquisitions to enter into new geographical regions. For instance, in June 2022, Accenture acquired Allgemeines Rechenzentrum GmbH (ARZ), a technology service provider focused on the banking sector in Austria.This acquisition would enable Accenture to expand its cloud-based banking platform-as-a-service offerings, ranging from core banking services to online banking as well as regulatory services for banking clients across Europe. Also, growing technological advancements in BPO sector and rising investment towards distribution sector are anticipated to act as a catalyzing factor for the market demand during the forecast period. However, high deployment cost associated with bpo services an lack of penetration from SMEs impede the growth of the market over the forecast period of 2022-2028.

The key regions considered for the global BFSI BPO Services Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America is the leading region across the world in terms of market share owing to the growing outsourcing activities across banking and finance sector coupled with presence of leading market players in the region. Whereas, Asia Pacific is anticipated to exhibit a significant growth rate over the forecast period 2022-2028. Factors such as the thriving growth of the BFSI sector and increasing penetration of leading market players in the region, would create lucrative growth prospects for the global BFSI BPO Services Market across the Asia Pacific region.

Major market players included in this report are:
Accenture PLC
Cognizant
Concentrix Corporation
Genpact
IBM Corporation
Infosys Limited
Mphasis
NTT Data Corporation
Tata Consultancy Services Limited
Wipro Limited

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Service Type
Customer Services
Finance & Accounting
Human Resource
KPO
Procurement & Supply Chain

By Enterprise Size
Large Enterprises
Small and Medium-sized Enterprises

By End User
Banks
Capital Markets
Insurance Companies
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World

Furthermore, years considered for the study are as follows:

Historical year – 2018, 2019, 2020
Base year – 2021
Forecast period – 2022 to 2028

Target Audience of the Global BFSI BPO Services Market in Market Study:

Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors

Companies Mentioned

Accenture PLC
Cognizant
Concentrix Corporation
Genpact
IBM Corporation
Infosys Limited
Mphasis
NTT Data Corporation
Tata Consultancy Services Limited
Wipro Limited

Please note:The single user license is non-downloadable and non-printable. Global Site license allows these actions.