Business Process Outsourcing Market Expected to Record Additional Growth of $40.16 Billion; Opportunities evolving with Accenture Plc and Automatic Data Processing Inc.

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NEW YORK, September 27, 2022 /PRNewswire/ — The Global business process outsourcing market the size should increase by $40.16 billion, accelerating at a CAGR of 4% between 2020 and 2025. Technavio has tracked recent trends and developments in the IT consulting and other services industry. Some of the factors, including the number of major IT consulting deals signed globally, revenue generated by service providers offering IT consulting services, IT budgets allocated by central and state governments on major markets, and others are taken into account in estimating market size.

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The market is driven by the focus on reducing operational costs. Setting up an in-house BPO team requires a significant capital investment. This requires additional manpower, infrastructure and training for new employees. Therefore, many organizations are outsourcing their business processes and operations to focus on their core business. This helps them minimize operating costs and improve overall efficiency. It is estimated that BPO services can generate between 30% and 50% savings on a company’s operating costs. Thus helping organizations to save a lot of money and time during business process outsourcing. All these factors are driving the growth of the global business process outsourcing market.

In addition, the growing emphasis on process automation is expected to further drive the growth of the business process outsourcing market. However, the risk of data breach could reduce the growth potential of the market.

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Top Business Process Outsourcing Companies:

  • Accenture Plc: The company offers smart financial operations, marketing solutions and other services. Services are used by SynOps. It helps create a data-driven operating model that connects smart technologies, talent, data, and analytics to deliver 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 analysis. It offers financial and accounting solutions and other services.

  • infosys ltd. : The company offers data analysis solutions.

  • International Business Machines Corp. : The Company offers procurement and procurement services, financial transformation services and other services.

  • NEC Corp.

  • NTT DATA Corp.

  • Tata Consultancy Services Ltd.

  • Wipro Ltd.

  • ZTE Corp.

Business Process Outsourcing Market End User Outlook (Revenue, USD Billion, 2020-2025)

  • IT and telecommunications – size and forecast 2020-2025

  • BFSI – size and forecast 2020-2025

  • Retail trade – size and forecast 2020-2025

  • Health – size and forecast 2020-2025

  • Others – size and forecast 2020-2025

The IT and telecommunications industry is the main end user of the market. The segment is driven by factors such as advancements in technology, rapid growth in data traffic, and growing consumer demand for digital content and communication. Market growth in the segment will be significant over the forecast period.

Geographical Outlook of Business Process Outsourcing Market (Revenue, Billion USD, 2020-2025)

  • North America – size and forecast 2020-2025

  • Europe – size and forecast 2020-2025

  • APAC – size and forecast 2020-2025

  • MEA – size and forecast 2020-2025

  • South America – size and forecast 2020-2025

North America will dominate the market growth, occupying 38% of the global market share. The market in North America is mature compared to other regional markets. The increasing outsourcing of services by companies to low-wage countries such as India and The Philippines is driving the growth of the business process outsourcing market in North America.

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Business Process Outsourcing Market Scope

Report cover

Details

Page number

120

Year of reference

2020

Forecast period

2021-2025

Growth momentum and CAGR

Accelerate at a CAGR of 4%

Market Growth 2021-2025

$40.16 billion

Market structure

Fragmented

Annual growth (%)

3.53

Regional analysis

North America, Europe, APAC, MEA and South America

Successful market contribution

North America at 38%

Main consumer countries

US, UK, Germany, China and Japan

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

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 drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and customize the segments.

Contents:

Summary

Market landscape

  • Market ecosystem

  • Value chain analysis

Market sizing

Five forces analysis

Market segmentation by end user

  • Market segments

  • Comparison by end user

  • IT and telecommunications – 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

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

  • Main leading countries

  • Market Opportunity by Geography

  • Market factors

  • Market challenges

  • Market trends

Supplier Landscape

  • Insight

  • Landscape disturbance

Vendor analysis

  • Suppliers Covered

  • Positioning on the supplier market

  • 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.

Annex

About Technavio

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

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