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Business Process Outsourcing (BPO) - Global Market Trajectory & Analytics

  • ID: 347963
  • Report
  • May 2020
  • Region: Global
  • 471 Pages
  • Global Industry Analysts, Inc
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Amid the COVID-19 crisis and the looming economic recession, the Business Process Outsourcing (BPO) market worldwide will grow by a projected US$68.3 Billion, during the analysis period, driven by a revised compounded annual growth rate (CAGR) of 5.2%. Customer Services, one of the segments analyzed and sized in this study, is forecast to grow at over 4.2% and reach a market size of US$69.4 Billion by the end of the analysis period. An unusual period in history, the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry. The Customer Services market will be reset to a new normal which going forward in a post COVID-19 era will be continuously redefined and redesigned. Staying on top of trends and accurate analysis is paramount now more than ever to manage uncertainty, change and continuously adapt to new and evolving market conditions.

As part of the new emerging geographic scenario, the United States is forecast to readjust to a 5.4% CAGR. Within Europe, the region worst hit by the pandemic, Germany will add over US$3.1 Billion to the region's size over the next 7 to 8 years. In addition, over US$3.8 Billion worth of projected demand in the region will come from Rest of the European markets. In Japan, the Customer Services segment will reach a market size of US$4.3 Billion by the close of the analysis period. Blamed for the pandemic, significant political and economic challenges confront China. Amid the growing push for decoupling and economic distancing, the changing relationship between China and the rest of the world will influence competition and opportunities in the Business Process Outsourcing (BPO) market. Against this backdrop and the changing geopolitical, business and consumer sentiments, the world’s second largest economy will grow at 1.2% over the next couple of years and add approximately US$490.3 Million in terms of addressable market opportunity. Continuous monitoring for emerging signs of a possible new world order post-COVID-19 crisis is a must for aspiring businesses and their astute leaders seeking to find success in the now changing Business Process Outsourcing (BPO) market landscape. All research viewpoints presented are based on validated engagements from influencers in the market, whose opinions supersede all other research methodologies.

Competitors identified in this market include, among others:

Accenture Plc, Alight Solutions LLC, Atos SE, Automatic Data Processing Inc, Capgemini SE, Capita Plc, Ceridian HCM Inc, CGI Group Inc, Cognizant Technology Solutions Corporation, DXC Technology Co, EXLService Holdings Inc, Genpact Limited, IBM Corp, Infosys BPM Limited, KARVY Global Services Limited, NGA Human Resources, NTT DATA Inc, Randstad Holding NV, Sopra Steria Group, StarTek Inc, Tata Consultancy Services Limited, TriNet Group Inc, Wipro Limited, WNS Global Services Ltd.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW
Recent Market Activity
Business Process Outsourcing (BPO) - An Introductory Prelude
Established Role in Business Process ImplementationAcross Diverse Sectors: Cornerstone for Present & Future Growth
BPO - A Robust Tool for Enabling Global Expansion
For Creating Truly Global Products
To Drive Satisfaction Levels Among Customers Worldwide
Wider Awareness About Outsourcing Benefits Maintains Growth Momentum
Bright Prospects Ahead for BPO Sector
The Changing Scenario
Disruptive Forces Line the Future BPO Model
A Sneak Peak into Key Trends Characterizing the BPO Industry
Developed Regions - Primary Revenue Contributors
Developing Regions: Hot Spots for Future Growth
The Asian BPO Phenomenon: Enabled by 'Triple Convergence'
BPO Operations Bringing Appreciation to Eastern Countries
Latin America Emerges as a Global Delivery Location
BPO Industry to Gain from Prevailing Economic Scenario
Global Competitor Market Shares
Business Process Outsourcing (BPO) Competitor Market Share Scenario Worldwide (in %): 2020 & 2029
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS
Accenture Plc (Ireland)
Alight Solutions LLC (USA)
Atos SE (France)
Automatic Data Processing, Inc. (USA)
Capgemini SE (France)
Capita Plc (UK)
Ceridian HCM, Inc. (USA)
CGI Group, Inc. (Canada)
Cognizant Technology Solutions Corporation (USA)
DXC Technology Co. (USA)
EXLService Holdings, Inc. (USA)
Genpact Limited (India)
Infosys BPM Limited (India)
International Business Machines Corp. (USA)
KARVY Global Services Limited (India)
NGA Human Resources (UK)
NTT DATA, Inc. (USA)
Randstad Holding NV (The Netherlands)
Sopra Steria Group (France)
StarTek, Inc. (USA)
Tata Consultancy Services Limited (India)
TriNet Group, Inc. (USA)
Wipro Limited (India)
WNS Global Services Ltd. (India)

3. MARKET TRENDS & DRIVERS
Advanced Technologies Strengthen Capabilities of BPO Model
Big Data Revolution to Streamline Operations
Internet of Things (IoT) for Effective Delivery of BPO Services
Robotic Automation Makes In Roads into BPO Industry
Impact of RPA on the BPO Sector
Social Media Networking Trend Transforms Business Strategies
Growing Popularity of Cloud Computing
Migration to SaaS and Private Cloud to GainMomentum
Growing Use of Mobile Based Customer Service Applications
Voice Biometrics – Growing Role in Customer Verification
BPO Providers Warm up to Green Computing
Strategic Innovations Gain Centerstage in BPO Industry
Evolving Outsourcing Relationships
Consultative BPO
Predictive Models to Improve Processes
Simpler Processes to Take Customer Contact Flows to New Levels
Flexible and Agile Customer Care Solutions for Unpredictable Issues
Strategic Partners in High Demand
Growing Significance of Value Addition
Focus on Altering Delivery Models
Emphasis on Non-Linear Processes
Sourcing Strategy: Means to Achieve Business Process
Sole Sourcing - A Model for Increasing Operational Efficiency
Multi-Source Approach: Gains Strength
Benefits of Multi-Sourcing Approach
Challenges Facing Multi-Sourcing Strategy
Offshore BPO: Driving Cost-Effectiveness
Nearshoring Finds Favor among Businesses
Trade-off between Quality and Cost Warrants Revamp of the Global BPO Industry
Outsourcing: More a Win-Win than a Zero-Sum Game
Small and Mid-Size Companies - An Expanding Clientele
Focus on Business Process Improvement Gains Momentum
New Business Areas Make Gains
Industry-Specific BPO Services Continue to Gain Strength
'Industry Expertise' Becomes a' Must-Have' for Service Providers
MSM Model to Boost Client-Vendor Relationships
Rise of Bundled IT & BPO Deals
BPO: Heading towards Commoditization?
The Importance of Impact Sourcing
A Brief Sketch of Major Outsourcing Destinations
Issues & Challenges
Protectionism - Implications for Offshore BPOs
Uncertainties in Politico-Economic Policies Challenge BPO Sector
Re-shoring Strategies Highlight Salary Disparities in Different Regions
Alternate Offshore Locations Challenge Dominance of Traditional Centers
Data Security Issues
BPO - A Robust Tool for Enabling Global Expansion

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES
Market Facts & Figures
US Business Process Outsourcing (BPO) Market Share (in %) by Company: 2020 & 2025
Market Analytics
CANADA
JAPAN
CHINA
EUROPE
Market Facts & Figures
European Business Process Outsourcing (BPO) Market: Competitor Market Share Scenario (in %) for 2020 & 2025
Market Analytics
FRANCE
GERMANY
ITALY
UNITED KINGDOM
SPAIN
RUSSIA
REST OF EUROPE
ASIA-PACIFIC
AUSTRALIA
INDIA
SOUTH KOREA
REST OF ASIA-PACIFIC
LATIN AMERICA
ARGENTINA
BRAZIL
MEXICO
REST OF LATIN AMERICA
MIDDLE EAST
IRAN
ISRAEL
SAUDI ARABIA
UNITED ARAB EMIRATES
REST OF MIDDLE EAST
AFRICA

IV. COMPETITION
Total Companies Profiled: 222
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