NEW YORK, Feb. 26, 2021 /PRNewswire/ -- The global business process outsourcing market has the potential to grow by USD 76.9 billion during 2020-2024, according to the latest market research report by Technavio. Get a Free Sample Report Delivered Instantly
The report highlights key products offered by the top five vendors and their contribution to the overall growth of the market.
Rising focus on reducing operational costs will be crucial in driving the growth of the global business process outsourcing market during the forecast period. Operations involving manufacturing goods and services, maintenance, and administration regularly incurs significant costs for companies. Hence, many organizations prefer to outsource their business processes and operations to reduce operational costs and improve their focus on core businesses. This has increased the demand for BPOs, which is driving the growth of the market.
"The increasing adoption of BPO by IT and telecom service providers has been a prominent factor in boosting the market growth. Also, the surging number of BPOs will positively impact the market as well as the IT consulting & other services industry in the forthcoming years", says an analyst at Technavio.
Business Process Outsourcing Market: Competitive Vendor Landscape
The market is fragmented due to the presence of many players. Accenture Plc, Automatic Data Processing Inc., Capgemini Services SAS, Infosys Ltd., and International Business Machines Corp. are some of the major market participants. To help clients improve their market position, this business process outsourcing market report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market's competitive landscape and offers information on the products offered by various companies.
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Top Five Vendors in the Global Business Process Outsourcing Market:
Accenture Plc operates its business through segments such as Communications, Media & Technology, Financial Services, Health & Public Service, Products, and Others. The company offers BPO services through its human-machine operating engine SynOps, which provides applied intelligence, technology, and talent together to transform operations.
Automatic Data Processing Inc.
Automatic Data Processing Inc. operates its business through segments such as Employer services and PEO services. The company offers BPO services to help clients in achieving cost efficiency and in improving their business performance.
Capgemini Services SAS
Capgemini Services SAS operates its business through segments such as Strategy & Transformation, Applications & Technology, and Operations & Engineering. The company offers outsourcing services built on analytics to transform the manufacturing business into an agile, responsive across an ever-shifting business landscape.
Infosys Ltd. operates its business through segments such as Energy, Utilities, Resources and Services, Manufacturing, Hi-Tech, Life Sciences, and All other segments. The company offers end-to-end outsourcing services through its outsourcing service provider- Infosys BPM. Some of the services are customer service outsourcing, human resources outsourcing, and legal process outsourcing among others.
International Business Machines Corp.
International Business Machines Corp. operates its business through segments such as Cognitive Solutions, Global Business Services, Technology Services & Cloud Platforms, Systems, and Global Financing. The company offers BPO services such as procurement and sourcing services and finance transformation services, to create more intelligent workflows using automation, artificial intelligence, internet of things (IoT), cloud, and other emerging technologies.
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