BPO Services Market Summary, Competitive Analysis and Forecast to 2027 (Global Almanac)

BPO Services Market Summary, Competitive Analysis and Forecast to 2027 (Global Almanac)

Summary

Global BPO Services industry profile provides top-line qualitative and quantitative summary information including: Market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the Market.

Key Highlights

• BPO services include revenues generated both from signed deals that remain under contract and the annual revenues associated with new contracts signed within a particular calendar year. The services include the outsourcing of functions such as customer relationship management, knowledge process outsourcing, finance & accounting, human resources, procurement, and vertical-specific processes. The total value of the market represents the demand for the service coming from a particular country.
• Customer Relationship Management (CRM) BPO: CRM BPO services typically include consumer direct services, contact center outsourcing (which includes customer care, sales and marketing, and technical product support), collection services, and claim and warranty services.
• Finance and Accounting BPO: Finance and accounting BPO cover operations relating to financial support functions, such as accounts payable and receivable, general ledger, payment processing, invoice, purchase order management and processing, receipt and reconciliation, and management reporting.
• Human Resources BPO: HR outsourcing services include benefits administration, payroll services, recruitment outsourcing, relocation and assignment services, workforce administration and development services / talent management, and performance management.
• Knowledge Process Outsourcing (KPO): Knowledge process outsourcing (KPO) services include research and analytics services such as competitive analysis, quantitative research and analytics, risk management and analytics, strategy and business development research, financial research, and legal process outsourcing (LPO).
• Procurement and Supply-Chain BPO: Procurement BPO covers the outsourcing of key procurement processes including sourcing support and administration, contract management, demand management, supplier relationship management, and performance reporting.
• Vertical-specific BPO: Vertical-specific BPO covers the outsourcing of services that require domain expertise. Vertical-specific BPO includes a range of processes such as insurance and annuities policy administration, claims and transaction processing, credit card analytics for banks and insurers, patient administration, medical coding, clinical research, and drug discovery and development for healthcare providers and pharmaceuticals.
• All market data and forecasts are represented in nominal terms (i.e., without adjustment for inflation) and all currency conversions used in the creation of this report have been calculated using constant 2022 annual average exchange rates.
• The global BPO services market had total revenues of $304.5 billion in 2022, representing a compound annual growth rate (CAGR) of 6.1% between 2017 and 2022.
• The vertical-specific BPO segment accounted for the market's largest proportion in 2022, with total revenues of $80.7 billion, equivalent to 26.5% of the market's overall value.
• Financial constraints limit small enterprises' ability to hire specialized staff for each business function and department. Therefore, the growth in the number of SMEs is supporting the global BPO services market.

Scope

• Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the global bpo services Market
• Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the global bpo services Market
• Leading company profiles reveal details of key bpo services Market players’ global operations and financial performance
• Add weight to presentations and pitches by understanding the future growth prospects of the global bpo services Market with five year forecasts

Reasons to Buy

• What was the size of the global bpo services Market by value in 2022?
• What will be the size of the global bpo services Market in 2027?
• What factors are affecting the strength of competition in the global bpo services Market?
• How has the Market performed over the last five years?
• What are the main segments that make up the global bpo services Market?