Global Back Office Outsourcing in Financial Services Market Growth (Status and Outlook) 2023-2029

Global Back Office Outsourcing in Financial Services Market Growth (Status and Outlook) 2023-2029

Back office outsourcing is a cost-effective arrangement that helps organizations to save up to 30% of its operational costs. This cost efficiency is achieved because the outsourcing companies help enterprises to manage routine responsibilities at very minimal costs, which in turn, reduces their overhead liabilities. Back office outsourcing companies offer several benefits to the financial institutions such as access to specific domain knowledge, best practices, new ideas, and high-quality talent for data-related services. With such quality outsourcing services, the organizations are able to deliver projects in lesser time and at affordable prices. 

LPI (LP Information)' newest research report, the “Back Office Outsourcing in Financial Services Industry Forecast” looks at past sales and reviews total world Back Office Outsourcing in Financial Services sales in 2022, providing a comprehensive analysis by region and market sector of projected Back Office Outsourcing in Financial Services sales for 2023 through 2029. With Back Office Outsourcing in Financial Services sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Back Office Outsourcing in Financial Services industry.

This Insight Report provides a comprehensive analysis of the global Back Office Outsourcing in Financial Services landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Back Office Outsourcing in Financial Services portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Back Office Outsourcing in Financial Services market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Back Office Outsourcing in Financial Services and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Back Office Outsourcing in Financial Services.

The global Back Office Outsourcing in Financial Services market size is projected to grow from US$ million in 2022 to US$ million in 2029; it is expected to grow at a CAGR of % from 2023 to 2029.

A key growth driver for this market is the need for greater efficiency and productivity. Given the limited workforce and budget allocation, there are always few specific business operations that a company is not able to focus on properly. Expansion through outsourcing of these resource intensive back office functions, such as monitoring budgets, maintenance of database, fielding queries helps companies to refocus on activities that are integral to the company's growth. Also, a huge chunk of the burden of employees is also brought down through the outsourcing of these administrative and procedural back office responsibilities. This, in turn, helps them to utilize the saved time in working towards core competencies of the company. One challenge that could hamper market growth is the high attrition levels and employee turnover in BPO companies.

This report presents a comprehensive overview, market shares, and growth opportunities of Back Office Outsourcing in Financial Services market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Hardware
Software
Services

Segmentation by application
Large Players
Small Players

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Accenture
Infosys
TCS
Attra Infotech
Birlasoft
Capgemini
Cognizant
Dell
eClerx
Endava

Please note: The report will take approximately 2 business days to prepare and deliver.