Business Process Outsourcing Market Global Industry Analysis and Forecast (2023-2029) by Service, Outsourcing Type, Application, Organization Size, Ownership, End-User, and Region.
Market Overview:
This study’s purpose is to give an overview of the Business Process Outsourcing market as well as extensive market segmentation based on segments, and geography. The report includes vital information on the market positions of the major Business Process Outsourcing companies, as well as notable industry trends and prospects.
The report also focuses on the leading industry players in the Business Process Outsourcing market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information. This research looks into Business Process Outsourcing Market Trends, Volume, and Value at the Global, Regional, and Company Levels. This study examines the whole Business Process Outsourcing Market Size from a worldwide standpoint, evaluating historical data and forecasts.
Market Dynamics:
The market for business process outsourcing is anticipated to benefit from a sharp increase in investments in smart city projects across several nations in the world. Information and communication technology are used in “smart cities” to effectively manage and run urban services including water supply, law enforcement, and transportation systems. Smart cities employ a technology that transfers data over a network with little to no human contact and by utilising internet capabilities. Service demand is anticipated to rise as smart cities use a variety of tools to operate efficiently. In India, more than 5000 smart city projects totaling approximately USD 26.3 billion were in development in 2022.
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Market Scope:
The report also focuses on the leading industry players in the Business Process Outsourcing market, giving information such as company biographies, product images and specifications, capacity, production, price, cost, revenue, and contact information.
Segmentation:
According to End-User, the IT and Telecom category held the largest market share of 22% in the worldwide business process outsourcing market in 2022. By 2029, the market is anticipated to expand at a CAGR of 7.80% while retaining its leadership. Rapid technical advancements over the past 20 years have caused a complete overhaul of the IT and telecommunications industries worldwide. For the manufacturing and service sectors in diverse nations, a cutting-edge telecommunications infrastructure is essential.
Global Business Process Outsourcing Market Market, by Service (2022-2029)
• Voice Processing
• Telemarketing Services
• Customer Care Services
Global Business Process Outsourcing Market Market, by Outsourcing Type (2022-2029)
• Offsource
• Nearshore
• Onshore
Global Business Process Outsourcing Market Market, by Application (2022-2029)
• Sales & Marketing
• Procurement & Supply Chain
• Facilities & Administrations
• Customer Care
• Training
Global Business Process Outsourcing Market Market, by Organization Size (2022-2029)
• Large Enterprises
• SMEs
Global Business Process Outsourcing Market Market, by Ownership (2022-2029)
• Captive
• Third-Party
Global Business Process Outsourcing Market Market, by End-User (2022-2029)
• BFSI
• IT & Telecom
• Healthcare
• Manufacturing
• Retail & E-Commerce
• Government & Defense
• Transportation & Logistics
• Travel & Hospitality
• Education
• Energy & Utilities
• Others
Global Business Process Outsourcing Market Market, by Region (2022-2029)
• North America
• Europe
• Asia Pacific
• The Middle East and Africa
• South America
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Key Players:
Inorganic growth techniques noted in the sector included acquisitions, partnerships, and collaborations. With growing demand, industry participants in the Business Process Outsourcing market are projected to benefit from excellent future growth opportunities. The following are a few companies participating in the worldwide Business Process Outsourcing industry.
• ADP, LLC. (New Jersey)
• Conduent Inc., (New Jersey)
• Accenture PLC. (Ireland)
• WNS Global Services Ltd. (India)
• Capgemini (France)
• Infosys BPM Limited (India)
• IBM Corporation (New York)
• Tata Consultancy Services Limited (TCS) (India)
• TTEC Holdings, Inc., (Colorado)
• Conneqt Business Solution Limited (India)
• HCL Technologies (India)
• Wipro Ltd. (India)
• Amdocs (Missouri)
• NCR Corporation (Georgia)
• Sodexo (France)
• Genpact (India)
• Concentrix (California)
• Teleperformance (France)
• Plaxonic Technologies (India)
• EXL Service (New York)
• Skyes (Florida)
• OctopusTech Solutions (India)
• Aegis Limited (India)
• CBRE Group, Inc. (Texas)
• Anderson Group BPO Inc. (Philippines)
• Automatic Infotech (India)
• Avaloq (Switzerland)
• Nihon (Japan)
• Nomura Research Institute, Ltd. (Japan)
• NTT Data (India)
• ValueNotes Strategic Intelligence Pvt. Ltd. (India)
• Oracle (Texas)
• TriNet Group, Inc. (California)
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Regional Analysis:
The research also includes a comprehensive PESTLE analysis for each of the five areas, namely North America, Europe, Asia Pacific, the Middle East, and Africa, and South America, after examining the political, economic, social, and technological variables influencing the Business Process Outsourcing market in these regions.
COVID-19 Impact Analysis on Business Process Outsourcing Market
As a result of the COVID-19 outbreak, customer behavior has transformed throughout all sectors of society. Industries, on the other hand, will need to adjust their strategies to account for altering market supplies. This study gives an outline of the COVID-19’s impact on the Business Process Outsourcing market and will help you build your business in compliance with the new industry standards.
Key Questions Answered in the Business Process Outsourcing Market Report are:
What will be the CAGR of the Business Process Outsourcing market during the forecast period?
Which segment emerged as the leading segment in the Business Process Outsourcing market?
Which are the prominent players in the Business Process Outsourcing market?
What will be the Business Process Outsourcing market size by 2027?
Which company held the largest share in the Business Process Outsourcing market?
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