Global Business Process Outsourcing (BPO) Market Growth (Status and Outlook) 2023-2029

Global Business Process Outsourcing (BPO) Market Growth (Status and Outlook) 2023-2029

Business process outsourcing (BPO) is defined as a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider.

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

This Insight Report provides a comprehensive analysis of the global Business Process Outsourcing (BPO) 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 Business Process Outsourcing (BPO) portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Business Process Outsourcing (BPO) market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Business Process Outsourcing (BPO) 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 Business Process Outsourcing (BPO).

The global Business Process Outsourcing (BPO) market size is projected to grow from US$ 176510 million in 2022 to US$ 237850 million in 2029; it is expected to grow at a CAGR of 4.4% from 2023 to 2029.

Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business related functions, typically IT related, to a third party service provider. This process usually involves multi-year, lucrative contracts between the client firm and service provider firm. Often, the employees of the service provider firm working for the client firm are incorporated in the client firm. Off-shoring, which is delegating work to a company based in another country is widely carried out by many global companies. Another similar outsourcing activity called Knowledge Process Outsourcing (KPO) functions on similar lines with the exception that highly critical tasks that involve skill, knowledge, education and expertise are outsourced to third party service providers. Types of services carried out by BPOs include administration, finance and accounting, human resources, payment services, logistics and distribution, customer support, etc. Types of services carried out by KPO include intellectual property research for patent applications, legal and medical services, training, market research, business research, consultancy, research and development, etc. BPO finds applications in many verticals such as manufacturing, telecommunications, technology, banking, insurance and finance services, retail and healthcare among others.

This report presents a comprehensive overview, market shares, and growth opportunities of Business Process Outsourcing (BPO) market by product type, application, key players and key regions and countries.

Market Segmentation:

Segmentation by type
Procurement
F&A
Customer Care
Logistics
Sales & Marketing
Training
Product Engineering

Segmentation by application
BFSI
Manufacturing
Healthcare
Retail
Telecom
Others

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
Cognizant
Genpact
IBM
TCS
HP
Tech Mahindra
Capgemini
Wipro
EXL
NTT DATA(Dell)
WNS Global
Concentrix
Infosys
Mu Sigma
Aegis

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