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Business Process Outsourcing (BPO) - Market Analysis, Trends, and Forecasts

  • ID: 347963
  • Report
  • February 2020
  • Region: Global
  • 269 Pages
  • Global Industry Analysts, Inc
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Business Process Outsourcing (BPO) market worldwide is projected to grow by US$108.3 Billion, driven by a compounded growth of 6.2%. Human Resources, one of the segments analyzed and sized in this study, displays the potential to grow at over 5.7%. The shifting dynamics supporting this growth makes it critical for businesses in this space to keep abreast of the changing pulse of the market. Poised to reach over US$114.1 Billion by the year 2025, Human Resources will bring in healthy gains adding significant momentum to global growth.

Representing the developed world, the United States will maintain a 5.3% growth momentum. Within Europe, which continues to remain an important element in the world economy, Germany will add over US$3.8 Billion to the region's size and clout in the next 5 to 6 years. Over US$3.3 Billion worth of projected demand in the region will come from Rest of Europe markets. In Japan, Human Resources will reach a market size of US$5.3 Billion by the close of the analysis period. As the world’s second largest economy and the new game changer in global markets, China exhibits the potential to grow at 9.1% over the next couple of years and add approximately US$29 Billion in terms of addressable opportunity for the picking by aspiring businesses and their astute leaders. Presented in visually rich graphics are these and many more need-to-know quantitative data important in ensuring quality of strategy decisions, be it entry into new markets or allocation of resources within a portfolio. Several macroeconomic factors and internal market forces will shape growth and development of demand patterns in emerging countries in Asia-Pacific, Latin America and the Middle East. 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
  • Infosys BPM Limited
  • International Business Machines Corp.
  • 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.
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 Implementation Across 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

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 Gain Momentum

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

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

Note: Product cover images may vary from those shown
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