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Business Process Outsourcing Market Size, Share & Trends Analysis Report By Service Type (Customer Services, Finance & Accounting), By End-use (IT & Telecommunication, BFSI), By Region, And Segment Forecasts, 2023 - 2030

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    Report

  • 142 Pages
  • December 2022
  • Region: Global
  • Grand View Research
  • ID: 5415603
Description Jump to:
The global business process outsourcing market size is anticipated to reach USD 525.2 billion by 2030 and expand at a CAGR of 9.4% from 2023 to 2030. Factors such as the increasing demand for outsourcing services across human resources, BFSI, and IT & telecommunication industries and the rising inclination of organizations to focus on their core competencies are anticipated to drive the Business Process Outsourcing (BPO) market. Moreover, the evolution of next-generation services such as personalized consumer experience, smart self-service, and rising consumer demand for multi-channel communication is anticipated to create opportunities for the market over the forecast period.

Over the last decade, the business process outsourcing industry has experienced tremendous growth owing to benefits offered by business process outsourcing services, such as cost savings and increased flexibility. The global service industry has witnessed a dynamic shift with the advancement of the information and communication technology industry. Outsourcing business processes enables organizations to cut costs by shifting operations to nearshore or offshore locations, leveraging a low-cost and dynamic talent pool to meet business requirements. Additionally, the rising adoption of cloud-based services, artificial intelligence, and robotic process automation in the BPO sector is expected to favor market growth over the forecast period. Online interactions, cross-channel campaigns, and omnichannel communications are expected to be pivotal in improving customer engagement processes.

The COVID-19 pandemic adversely affected the BPO industry. Varying degrees of lockdowns and travel restrictions significantly led to disruptions in the supply chain, forcing many enterprises to work remotely. BPO companies faced challenges such as data security and lowered productivity due to a lack of supervision or inadequate infrastructure at employees’ homes. Other issues included difficulties encountered while recording calls from remote work locations and the exposure of employee data to clients.

Business Process Outsourcing Market Report Highlights

  • In terms of service type, the customer services segment dominated the market in 2022. The segment is also predicted to dominate the market over the forecast period owing to the increasing demand for service centers across the globe that need both offline and online technical support
  • With the steady growth of the global IT & telecommunication sector, the segment captured a sizeable revenue share in 2022. The segment is anticipated to grow at a steady pace over the forecast period owing to a rise in the number of IT companies and rapid industrialization globally
  • The Asia Pacific regional market is expected to attain a healthy CAGR over the forecast period. This growth can be attributed to the significant investments in infrastructure development by governments of developing countries such as India
  • Due to COVID-19, major players operating in the market and third-party service providers faced issues coping with changing work conditions. However, with the switch of BPO organizations from single-function operations to multi-functional to decrease the risk impact at any particular location, the market is expected to have lucrative opportunities in the forthcoming years

Table of Contents

Chapter 1. Methodology and Scope
1.1. Methodology Segmentation & Scope
1.2. Information procurement
1.2.1. Purchased database
1.2.2. internal database
1.2.3. Secondary sources & third-party perspectives
1.2.4. Primary research
1.3. Information analysis
1.3.1. Data analysis models
1.4. Market formulation & data visualization
1.5. Data validation & publishing
Chapter 2. Executive Summary
2.1. Business Process Outsourcing Market - Industry Snapshot & Key Buying Criteria, 2018 - 2030
Chapter 3. Business Process Outsourcing Market Variables, Trends & Scope
3.1. Market Size and Growth Prospects, 2018 - 2030
3.2. Industry Value Chain Analysis
3.3. Market Dynamics
3.3.1. Market Driver Analysis
3.3.2. Market Restraint/Challenge Analysis
3.3.3. Market Opportunity Analysis
3.4. Penetration & Growth Prospect Mapping (Key Opportunities Prioritized)
3.5. Business Environment Analysis Tools
3.5.1. Industry Analysis - Porter's Five Forces Analysis
3.5.2. PEST Analysis
3.6. COVID-19 Impact Analysis
Chapter 4. Business Process Outsourcing Market Service Type Outlook
4.1. Business Process Outsourcing Market Share by Service Type, 2022 & 2030 (USD Billion)
4.2. Finance & Accounting
4.2.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
4.2.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.3. Human Resource
4.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.3.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.4. KPO
4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.4.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.5. Procurement & Supply Chain
4.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.5.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.6. Customer Services
4.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.6.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
4.7. Others
4.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
4.7.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
Chapter 5. Business Process Outsourcing Market End-Use Outlook
5.1. Business Process Outsourcing Market Share by End-Use, 2022 & 2030 (USD Billion)
5.2. BFSI
5.2.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.2.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
5.3. Healthcare
5.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.3.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
5.4. Manufacturing
5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.4.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
5.5. IT & Telecommunications
5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.5.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
5.6. Retail
5.6.1. Market Size Estimates and Forecasts, 2018 - 2030 (USD Billion)
5.6.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
5.7. Others
5.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
5.7.2. Market estimates and forecast by region, 2018 - 2030 (USD Billion)
Chapter 6. Business Process Outsourcing Market: Regional Outlook
6.1. Business Process Outsourcing Market Share by Region, 2022 & 2030 (USD Billion)
6.2. North America
6.2.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.2.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.2.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.2.4. U.S.
6.2.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.2.4.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.2.4.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.2.5. Canada
6.2.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.2.5.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.2.5.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.3. Europe
6.3.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.3.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.3.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.3.4. U.K.
6.3.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.3.4.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.3.4.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.3.5. Germany
6.3.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.3.5.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.3.5.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.3.6. France
6.3.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.3.6.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.3.6.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.3.7. Rest of Europe
6.3.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.3.7.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.3.7.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.4. Asia Pacific
6.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.4.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.4.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.4.4. China
6.4.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.4.4.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.4.4.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.4.5. India
6.4.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.4.5.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.4.5.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.4.6. Japan
6.4.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.4.6.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.4.6.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.4.7. Rest of Asia Pacific
6.4.7.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.4.7.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.4.7.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.5. Latin America
6.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.5.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.5.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.5.4. Brazil
6.5.4.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.5.4.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.5.4.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.5.5. Mexico
6.5.5.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.5.5.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.5.5.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.5.6. Rest of Latin America
6.5.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.5.6.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.5.6.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
6.6. Middle East & Africa
6.6.1. Market estimates and forecast, 2018 - 2030 (USD Billion)
6.6.2. Market estimates and forecast by service type, 2018 - 2030 (USD Billion)
6.6.3. Market estimates and forecast by end-use, 2018 - 2030 (USD Billion)
Chapter 7. Competitive Landscape
7.1. Accenture
7.1.1. Company overview
7.1.2. Financial performance
7.1.3. Product benchmarking
7.1.4. Recent developments
7.2. Amdocs
7.2.1. Company overview
7.2.2. Financial performance
7.2.3. Product benchmarking
7.2.4. Recent developments
7.3. Capgemini
7.3.1. Company overview
7.3.2. Financial performance
7.3.3. Product benchmarking
7.3.4. Recent developments
7.4. CBRE
7.4.1. Company overview
7.4.2. Financial performance
7.4.3. Product benchmarking
7.4.4. Recent developments
7.5. HCL Technologies Limited
7.5.1. Company overview
7.5.2. Financial performance
7.5.3. Product benchmarking
7.5.4. Recent developments
7.6. Infosys Limited (Infosys BPM)
7.6.1. Company overview
7.6.2. Financial performance
7.6.3. Product benchmarking
7.6.4. Recent developments
7.7. NCR Corporation
7.7.1. Company overview
7.7.2. Financial performance
7.7.3. Product benchmarking
7.7.4. Recent developmentsDaiichi J
7.8. SODEXO
7.8.1. Company overview
7.8.2. Financial performance
7.8.3. Product benchmarking
7.8.4. Recent developments
7.9. TTEC
7.9.1. Company overview
7.9.2. Financial performance
7.9.3. Product benchmarking
7.9.4. Recent developments
7.10. Wipro
7.10.1. Company overview
7.10.2. Financial performance
7.10.3. Product benchmarking
7.10.4. Recent developments
List of Tables
Table 1 List of Abbreviation
Table 2 Global business process outsourcing market, 2018 - 2030 (USD Billion)
Table 3 Global business process outsourcing market, by region, 2018 - 2030 (USD Billion)
Table 4 Global business process outsourcing market, by service type, 2018 - 2030 (USD Billion)
Table 5 Global business process outsourcing market, by end-use, 2018 - 2030 (USD Billion)
Table 6 Global financing & accounting market by region, 2018 - 2030 (USD Billion)
Table 7 Global human resource market by region, 2018 - 2030 (USD Billion)
Table 8 Global KPO market by region, 2018 - 2030 (USD Billion)
Table 9 Global procurement and supply chain market by region, 2018 - 2030 (USD Billion)
Table 10 Global customer service market by region, 2018 - 2030 (USD Billion)
Table 11 Global others market by region, 2018 - 2030 (USD Billion)
Table 12 Global BFSI market by region, 2018 - 2030 (USD Billion)
Table 13 Global healthcare market by region, 2018 - 2030 (USD Billion)
Table 14 Global manufacturing market by region, 2018 - 2030 (USD Billion)
Table 15 Global IT & Telecommunications market by region, 2018 - 2030 (USD Billion)
Table 16 Global retail market by region, 2018 - 2030 (USD Billion)
Table 17 Global others market by region, 2018 - 2030 (USD Billion)
Table 18 North America business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 19 North America business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 20 U.S. business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 21 U.S. business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 22 Canada business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 23 Canada business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 24 Europe business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 25 Europe business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 26 Germany business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 27 Germany business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 28 U.K. business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 29 U.K. business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 30 Asia Pacific business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 31 Asia Pacific business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 32 China business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 33 China business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 34 India business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 35 India business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 36 Japan business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 37 Japan business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 38 Latin America business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 39 Latin America business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 40 Brazil business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 41 Brazil business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 42 Mexico business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 43 Mexico business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
Table 44 Middle East & Africa business process outsourcing market, by service type 2018 - 2030 (USD Billion)
Table 45 Middle East & Africa business process outsourcing market, by end-use 2018 - 2030 (USD Billion)
List of Figures
FIG. 1 Business process outsourcing market segmentation
Fig. 2 Methodology
Fig. 3 Primary Research Pattern
Fig. 4 Information analysis
Fig. 5 Data Analysis Model
Fig. 6 Data Validation & Publishing
Fig. 7 Business process outsourcing: Market Snapshot
Fig. 8 Business process outsourcing Market Penetration and Growth Prospects Mapping
Fig. 9 Business process outsourcing market: Value chain analysis
Fig. 10 Market driver analysis
Fig. 11 Market restraint analysis
Fig. 12 Market challenge analysis
Fig. 13 Business process outsourcing market: Porter’s five forces analysis
Fig. 14 Business process outsourcing market: PEST analysis
Fig. 15 Business process outsourcing market analysis: Service Type segment analysis
Fig. 16 Business process outsourcing market analysis: End-Use segment analysis

Companies Mentioned

  • Accenture
  • Amdocs
  • Capgemini
  • CBRE
  • HCL Technologies Limited
  • Infosys Limited (Infosys BPM)
  • NCR Corporation
  • SODEXO
  • TTEC
  • Wipro

Methodology

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Table Information

Report AttributeDetails
No. of Pages142
PublishedDecember 2022
Forecast Period2023 - 2030
Estimated Market Value ( USD ) in 2023 $ 280.6 Billion
Forecasted Market Value ( USD ) by 2030 $ 525.2 Billion
Compound Annual Growth Rate9.4%
Regions CoveredGlobal
No. of Companies Mentioned10

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