IT business process Outsourcing (BPO) Market to grow by USD 281.25 bn by 2026, Need to focus on core competencies and improve efficiency to boost market growth - Technavio

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Oct 10, 2022, 19:45 ET

NEW YORK, Oct. 10, 2022 /PRNewswire/ -- The IT business process outsourcing (BPO) market size is expected to increase by USD 281.25 billion, at a CAGR of 8.12% from 2021 to 2026. The Type segment will generate maximum revenue in the IT business process outsourcing (BPO) market, owing to the access to local talent and advanced technologies that enable a client to maintain a lean staff.

Technavio has announced its latest market research report titled Global IT Business Process Outsourcing (BPO) Market 2022-2026

In terms of geography, North America will present significant opportunities for market vendors due to the factors such as the growth of advanced healthcare facilities, rising healthcare spending, and the presence of government organizations such as Medicaid, which provide medical aid to people with limited income and financial resources. Request Free Sample Report.

IT business process Outsourcing (BPO) Market: Major Growth Drivers

The following factors are expected to drive the growth of the market during the forecast period:

Need to focus on core competencies and improve efficiency
Growing digital transformation in organizations
Increased adoption of software-defined infrastructure

Also, A development in the information technology BPO market that is anticipated to have a favorable impact in the upcoming years is the rise of emerging nations as call center destinations. Organizations can better coordinate their processes through outsourcing, which also increases operational effectiveness. They can improve client satisfaction and cut operating expenses thanks to it.

Due to the low operating expenses, call center businesses have established operations, among other nations, in India and the Philippines. While operating in these nations, these organizations must contend with issues like subpar quality, pay inflation, high attrition rates, and distant managerial complexity. As a result, they are concentrating on growing their companies in other nations in order to diversify their skill sets, gain a competitive edge, and enhance their presence. Buy Sample Report.

IT business process Outsourcing (BPO) Market: Key Vendor Offerings

Accenture Plc: The company offers IT business process outsourcing services for Intelligent Finance Operations, Supply Chain, Sourcing and Procurement, Banking, and Marketing.
Acora Ltd: The company offers solutions and services for digital security and automotive.
Capgemini Service SAS: The company offers IT business process outsourcing services for SAP consultant finance and controlling, data warehousing, and business analysis automation.
Cognizant Technology Solutions Corp.: The company offers IT business process outsourcing services for digital processes and intelligent automation.
Concentrix Corp.: The company offers IT business process outsourcing services for application services and modernization, artificial intelligence, cloud enablement, and core modernization.

To find additional highlights on the growth strategies adopted by vendors and their product offerings, Download Free Sample Report.

Reasons to Buy IT Business Process Outsourcing (BPO) Market Report:

CAGR of the market during the forecast period
Detailed information on factors that will assist IT business process outsourcing (BPO) market growth during the next five years
Estimation of the IT business process outsourcing (BPO) market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the IT business process outsourcing (BPO) market across North America, Europe, APAC, South America, and Middle East and Africa
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of IT business process outsourcing (BPO) market vendors

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IT business process Outsourcing (BPO) Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 8.12%
Market growth 2022-2026	$281.25 billion
Market structure	Fragmented
YoY growth (%)	7.54
Regional analysis	North America, Europe, APAC, South America, and Middle East and Africa
Performing market contribution	North America at 37%
Key consumer countries	US, India, The Philippines, UK, and Germany
Competitive landscape	Leading companies, competitive strategies, consumer engagement scope
Companies profiled	Accenture Plc, Acora Ltd, Atos SE, Capgemini Service SAS, Cognizant Technology Solutions Corp., Concentrix Corp., Dofort Technologies Pvt. Ltd., HCL Technologies Ltd., Helpware Inc., Infosys Ltd., International Business Machines Corp., ITC Ltd., Outsource Accelerator Ventures OPC, Solutions Connected LLC, Tag EServices Pvt. Ltd., Tata Consultancy Services Ltd., Unisys Corp., Unity Communications LLC, Wipro Ltd., and CGI INC
Market Dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, and 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.

Table of Contents

1 Executive Summary

1.1 Market overview

Exhibit 01: Executive Summary – Chart on Market Overview
Exhibit 02: Executive Summary – Data Table on Market Overview
Exhibit 03: Executive Summary – Chart on Global Market Characteristics
Exhibit 04: Executive Summary – Chart on Market by Geography
Exhibit 05: Executive Summary – Chart on Market Segmentation by Type
Exhibit 06: Executive Summary – Chart on Incremental Growth
Exhibit 07: Executive Summary – Data Table on Incremental Growth
Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

2.1 Market ecosystem

Exhibit 09: Parent market
Exhibit 10: Market Characteristics

3 Market Sizing

3.1 Market definition

Exhibit 11: Offerings of vendors included in the market definition

3.2 Market segment analysis

Exhibit 12: Market segments

3.3 Market size 2021

3.4 Market outlook: Forecast for 2021-2026

Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ billion)
Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

4.1 Five forces summary

Exhibit 17: Five forces analysis - Comparison between 2021 and 2026

4.2 Bargaining power of buyers

Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

4.3 Bargaining power of suppliers

Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

4.4 Threat of new entrants

Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

4.5 Threat of substitutes

Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

4.6 Threat of rivalry

Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

4.7 Market condition

Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Type

5.1 Market segments

Exhibit 24: Chart on Type - Market share 2021-2026 (%)
Exhibit 25: Data Table on Type - Market share 2021-2026 (%)

5.2 Comparison by Type

Exhibit 26: Chart on Comparison by Type
Exhibit 27: Data Table on Comparison by Type

5.3 IT related BPO - Market size and forecast 2021-2026

Exhibit 28: Chart on IT related BPO - Market size and forecast 2021-2026 ($ billion)
Exhibit 29: Data Table on IT related BPO - Market size and forecast 2021-2026 ($ billion)
Exhibit 30: Chart on IT related BPO - Year-over-year growth 2021-2026 (%)
Exhibit 31: Data Table on IT related BPO - Year-over-year growth 2021-2026 (%)

5.4 Contact centers BPO - Market size and forecast 2021-2026

Exhibit 32: Chart on Contact centers BPO - Market size and forecast 2021-2026 ($ billion)
Exhibit 33: Data Table on Contact centers BPO - Market size and forecast 2021-2026 ($ billion)
Exhibit 34: Chart on Contact centers BPO - Year-over-year growth 2021-2026 (%)
Exhibit 35: Data Table on Contact centers BPO - Year-over-year growth 2021-2026 (%)

5.5 Others - Market size and forecast 2021-2026

Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ billion)
Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ billion)
Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)

5.6 Market opportunity by Type

Exhibit 40: Market opportunity by Type ($ billion)

6 Customer Landscape

6.1 Customer landscape overview

Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

7.1 Geographic segmentation

Exhibit 42: Chart on Market share by geography 2021-2026 (%)
Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

7.2 Geographic comparison

Exhibit 44: Chart on Geographic comparison
Exhibit 45: Data Table on Geographic comparison

7.3 North America - Market size and forecast 2021-2026

Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ billion)
Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

7.4 Europe - Market size and forecast 2021-2026

Exhibit 50: Chart on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 51: Data Table on Europe - Market size and forecast 2021-2026 ($ billion)
Exhibit 52: Chart on Europe - Year-over-year growth 2021-2026 (%)
Exhibit 53: Data Table on Europe - Year-over-year growth 2021-2026 (%)

7.5 APAC - Market size and forecast 2021-2026

Exhibit 54: Chart on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 55: Data Table on APAC - Market size and forecast 2021-2026 ($ billion)
Exhibit 56: Chart on APAC - Year-over-year growth 2021-2026 (%)
Exhibit 57: Data Table on APAC - Year-over-year growth 2021-2026 (%)

7.6 South America - Market size and forecast 2021-2026

Exhibit 58: Chart on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 59: Data Table on South America - Market size and forecast 2021-2026 ($ billion)
Exhibit 60: Chart on South America - Year-over-year growth 2021-2026 (%)
Exhibit 61: Data Table on South America - Year-over-year growth 2021-2026 (%)

7.7 Middle East and Africa - Market size and forecast 2021-2026

Exhibit 62: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 63: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ billion)
Exhibit 64: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
Exhibit 65: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)

7.8 US - Market size and forecast 2021-2026

Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ billion)
Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)

7.9 UK - Market size and forecast 2021-2026

Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ billion)
Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

7.10 India - Market size and forecast 2021-2026

Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ billion)
Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)

7.11 The Philippines - Market size and forecast 2021-2026

Exhibit 78: Chart on The Philippines - Market size and forecast 2021-2026 ($ billion)
Exhibit 79: Data Table on The Philippines - Market size and forecast 2021-2026 ($ billion)
Exhibit 80: Chart on The Philippines - Year-over-year growth 2021-2026 (%)
Exhibit 81: Data Table on The Philippines - Year-over-year growth 2021-2026 (%)

7.12 Germany - Market size and forecast 2021-2026

Exhibit 82: Chart on Germany - Market size and forecast 2021-2026 ($ billion)
Exhibit 83: Data Table on Germany - Market size and forecast 2021-2026 ($ billion)
Exhibit 84: Chart on Germany - Year-over-year growth 2021-2026 (%)
Exhibit 85: Data Table on Germany - Year-over-year growth 2021-2026 (%)

7.13 Market opportunity by geography

Exhibit 86: Market opportunity by geography ($ billion)

8 Drivers, Challenges, and Trends

8.1 Market drivers

8.2 Market challenges

8.3 Impact of drivers and challenges

Exhibit 87: Impact of drivers and challenges in 2021 and 2026

8.4 Market trends

9 Vendor Landscape

9.1 Overview

9.2 Vendor landscape

Exhibit 88: Overview on Criticality of inputs and Factors of differentiation

9.3 Landscape disruption

Exhibit 89: Overview on factors of disruption

9.4 Industry risks

Exhibit 90: Impact of key risks on business

10 Vendor Analysis

10.1 Vendors covered

Exhibit 91: Vendors covered

10.2 Market positioning of vendors

Exhibit 92: Matrix on vendor position and classification

10.3 Accenture Plc

Exhibit 93: Accenture Plc - Overview
Exhibit 94: Accenture Plc - Business segments
Exhibit 95: Accenture Plc - Key news
Exhibit 96: Accenture Plc - Key offerings
Exhibit 97: Accenture Plc - Segment focus

10.4 Capgemini Service SAS

Exhibit 98: Capgemini Service SAS - Overview
Exhibit 99: Capgemini Service SAS - Business segments
Exhibit 100: Capgemini Service SAS - Key news
Exhibit 101: Capgemini Service SAS - Key offerings
Exhibit 102: Capgemini Service SAS - Segment focus

10.5 CGI INC

Exhibit 103: CGI INC - Overview
Exhibit 104: CGI INC - Business segments
Exhibit 105: CGI INC - Key news
Exhibit 106: CGI INC - Key offerings
Exhibit 107: CGI INC - Segment focus

10.6 Cognizant Technology Solutions Corp.

Exhibit 108: Cognizant Technology Solutions Corp. - Overview
Exhibit 109: Cognizant Technology Solutions Corp. - Business segments
Exhibit 110: Cognizant Technology Solutions Corp. - Key news
Exhibit 111: Cognizant Technology Solutions Corp. - Key offerings
Exhibit 112: Cognizant Technology Solutions Corp. - Segment focus

10.7 Concentrix Corp.

Exhibit 113: Concentrix Corp. - Overview
Exhibit 114: Concentrix Corp. - Product / Service
Exhibit 115: Concentrix Corp. - Key offerings

10.8 Infosys Ltd.

Exhibit 116: Infosys Ltd. - Overview
Exhibit 117: Infosys Ltd. - Business segments
Exhibit 118: Infosys Ltd. - Key news
Exhibit 119: Infosys Ltd. - Key offerings
Exhibit 120: Infosys Ltd. - Segment focus

10.9 International Business Machines Corp.

Exhibit 121: International Business Machines Corp. - Overview
Exhibit 122: International Business Machines Corp. - Business segments
Exhibit 123: International Business Machines Corp. - Key offerings
Exhibit 124: International Business Machines Corp. - Segment focus

10.10 Tag EServices Pvt. Ltd.

Exhibit 125: Tag EServices Pvt. Ltd. - Overview
Exhibit 126: Tag EServices Pvt. Ltd. - Product / Service
Exhibit 127: Tag EServices Pvt. Ltd. - Key offerings

10.11 Tata Consultancy Services Ltd.

Exhibit 128: Tata Consultancy Services Ltd. - Overview
Exhibit 129: Tata Consultancy Services Ltd. - Business segments
Exhibit 130: Tata Consultancy Services Ltd. - Key news
Exhibit 131: Tata Consultancy Services Ltd. - Key offerings
Exhibit 132: Tata Consultancy Services Ltd. - Segment focus

10.12 Wipro Ltd.

Exhibit 133: Wipro Ltd. - Overview
Exhibit 134: Wipro Ltd. - Business segments
Exhibit 135: Wipro Ltd. - Key news
Exhibit 136: Wipro Ltd. - Key offerings
Exhibit 137: Wipro Ltd. - Segment focus

11 Appendix

11.1 Scope of the report

11.2 Inclusions and exclusions checklist

Exhibit 138: Inclusions checklist
Exhibit 139: Exclusions checklist

11.3 Currency conversion rates for US$

Exhibit 140: Currency conversion rates for US$

11.4 Research methodology

Exhibit 141: Research methodology
Exhibit 142: Validation techniques employed for market sizing
Exhibit 143: Information sources

11.5 List of abbreviations

Exhibit 144: List of abbreviations

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