Business Process Outsourcing Market Size to Grow by USD 40.16 billion, Accenture Plc and CapGemini SE Among Key Vendors - Technavio
NEW YORK, July 25, 2022 /PRNewswire/ -- Business process outsourcing (BPO) refers to the outsourcing of business processes by companies to third-party service providers. These processes can be related to finance, HR, accounts, and technical support. Outsourcing helps companies save costs and focus on core activities.
The business process outsourcing market value is anticipated to grow by USD 40.16 bn. In addition, the growth momentum of the market will accelerate at a CAGR of 4% during the forecast period.
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The focus on reducing operational costs is driving the growth of the market. These costs include the costs involved in manufacturing goods and services, maintenance, and administration. Organizations are outsourcing their business processes and operations to focus on their core businesses. BPO services help organizations increase market share, expand their customer base, and improve customer relationships.
Data breaches challenge the growth of the market during the forecast period. Technological advances and the rising use of Internet services across the world has put the safety of customer data at risk. Hence, data breaches are a major challenge for BPO companies.
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The business process outsourcing market report provides complete insights on key vendors, including Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Tata Consultancy Services Ltd., Wipro Ltd., and ZTE Corp. The key offerings of some of the vendors are listed below:
- Accenture Plc - It offers intelligent finance operations, marketing solutions, and other services. The services are availed by SynOps. It helps create a data-driven operating model that connects intelligent technologies, talent, and data and analytics to provide real-time, actionable insights.
- Automatic Data Processing Inc. - The company offers payroll outsourcing, small business payroll, and other services.
- Capgemini SE - The company offers supply chain management solutions. It includes a range of services integrating supply chain master data with planning, execution, and analytics. It offers finance and accounting solutions and other services.
- Infosys Ltd. - The company offers data analytics solutions.
- International Business Machines Corp. - The company offers procurement and sourcing services, financial transformation services, and other services.
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The competitive scenario provided in the business process outsourcing market report analyzes, evaluates, and positions companies based on various performance indicators. Some of the factors considered for this analysis include the financial performance of companies over the past few years, growth strategies, product innovations, new product launches, investments, growth in market share, etc.
- By End-user, the market is classified into IT and telecommunication, BFSI, retail, healthcare, and others. The IT and telecommunication segment contributes the largest share of the market owing to technological advances, fast growth in data traffic, and growing demand for digital content and communication by consumers.
- By geography, the market is classified as North America, Europe, APAC, MEA, and South America. North America will have the largest share of the market. This growth is attributed to factors such as the rise in the adoption of advanced technologies such as cloud computing solutions, social media, AI, and RPA.
Human Resource Outsourcing Market by Service and Geography - Forecast and Analysis 2022-2026
Business Process Outsourcing Market Scope | |
Report Coverage | Details |
Page number | 120 |
Base year | 2020 |
Forecast period | 2021-2025 |
Growth momentum & CAGR | Accelerate at a CAGR of 4% |
Market growth 2021-2025 | USD 40.16 billion |
Market structure | Fragmented |
YoY growth (%) | 3.53 |
Regional analysis | North America, Europe, APAC, MEA, and South America |
Performing market contribution | North America at 38% |
Key consumer countries | US, UK, Germany, China, and Japan |
Competitive landscape | Leading companies, competitive strategies, consumer engagement scope |
Companies profiled | Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Tata Consultancy Services Ltd., Wipro Ltd., and ZTE Corp. |
Market Dynamics | Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for the forecast period, |
Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Executive Summary
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 - 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End user
- IT and telecommunication - Market size and forecast 2020-2025
- BFSI - Market size and forecast 2020-2025
- Retail - Market size and forecast 2020-2025
- Healthcare - Market size and forecast 2020-2025
- Others - Market size and forecast 2020-2025
- Market opportunity by End user
Customer landscape
- Customer landscape
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2020-2025
- Europe - Market size and forecast 2020-2025
- APAC - Market size and forecast 2020-2025
- MEA - Market size and forecast 2020-2025
- South America - Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- Accenture Plc
- Automatic Data Processing Inc.
- Capgemini SE
- Infosys Ltd.
- International Business Machines Corp.
- NEC Corp.
- NTT DATA Corp.
- Tata Consultancy Services Ltd.
- Wipro Ltd.
- ZTE Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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