Europe Business Process Outsourcing (BPO) Market - Industry Trends and Forecast to 2031
Europe Business Process Outsourcing (BPO) market is expected to reach USD 132.57 billion by 2031 from USD 72.45 billion in 2023, growing with a CAGR of 7.9% in the forecast period of 2024 to 2031.
Market SegmentationEurope Business Process Outsourcing (BPO) Market, By Outsourcing Type (Offshore, Nearshore, and Onshore), Service (Voice Processing, Telemarketing Services, Image Editing Services, Virtual Staffing Services, and 3D Visualization Services), Application (Customer Care, Finance & Accounting, Talent & HR Services, Sales & Marketing, Sourcing, Procurement & Supply Chain, Facilities & Administration, Product Engineering, and Training), Deployment Mode (Cloud and On-Premise), Organization Size (Large Enterprises and SMEs), Ownership (Captive and Third Party), Outsourcing Approach (Best Shore, Bundled Services, Contract Based, and Fee For Service), End-User (IT & Telecommunication, Manufacturing, BFSI, Government & Defense, Transportation & Logistics, Retail & E-Commerce, Travel & Hospitality, Healthcare, Energy & Utilities, and Education), Country (U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Poland, Sweden, Finland, Norway, Denmark, and Rest of Europe) - Industry Trends and Forecast to 2031
Overview of Europe Business Process Outsourcing (BPO) Market Dynamics
Driver• Growing preference for cloud technology and its significance on process automation
Restraint• Growing concerns regarding data security and privacy concern
Opportunity• Emergence of digital technologies, namely AI, IOT, and cloud computing
Market PlayersSome of the major players operating in the Europe Business Process Outsourcing (BPO) market are:
• IBM Corporation
• Cognizant
• Capgemini
• Genpact
• Wipro Limited
• Accenture
• Tata Consultancy Services Limited
• HCL Technologies Limited
• NTT DATA, Inc.
• WNS (Holdings) Ltd.
• NCR Corporation
• Tech Mahindra Limited
• Infosys Limited
• Concentrix Corporation
• SunTec Web Services Pvt. Ltd.
• Invensis Technologies Pvt. Ltd.