The global general and administrative outsourcing market size reached US$ 7.4 Billion in 2023. Looking forward, the publisher expects the market to reach US$ 13.4 Billion by 2032, exhibiting a growth rate (CAGR) of 6.8% during 2023-2032. The escalating demand for accessing lower-cost labor markets and reduction of overhead expenses, rapid utilization of internal resources towards core business activities, and easy access to extensive experience and domain expertise in non-core administrative functions represent some of the key factors driving the market.
General and Administrative (G&A) outsourcing refers to the procedure of entrusting external service providers, such as specialized third-party vendors, with the non-essential administrative functions and duties of an organization. This enables enterprises to concentrate on their core competencies, thereby eliminating the need for in-house infrastructure, staffing, and training, resulting in potential cost savings. In addition to this, G&A outsourcing offers customizable solutions that allow organizations to scale their administrative operations up or down according to their needs, without the need for major internal restructuring. These non-core administrative functions typically include finance and accounting, customer service and IT support, human resources, and payroll administration. Furthermore, G&A outsourcing shifts specific risks, such as regulatory compliance and technological advancements, to the outsourcing service provider. Some of the advantages provided by G&A outsourcing include easy access to specialized expertise, enhanced flexibility, and improved service levels.
General and Administrative (G&A) outsourcing refers to the procedure of entrusting external service providers, such as specialized third-party vendors, with the non-essential administrative functions and duties of an organization. This enables enterprises to concentrate on their core competencies, thereby eliminating the need for in-house infrastructure, staffing, and training, resulting in potential cost savings. In addition to this, G&A outsourcing offers customizable solutions that allow organizations to scale their administrative operations up or down according to their needs, without the need for major internal restructuring. These non-core administrative functions typically include finance and accounting, customer service and IT support, human resources, and payroll administration. Furthermore, G&A outsourcing shifts specific risks, such as regulatory compliance and technological advancements, to the outsourcing service provider. Some of the advantages provided by G&A outsourcing include easy access to specialized expertise, enhanced flexibility, and improved service levels.
General and Administrative Outsourcing Market Trends:
The global market is primarily driven by the escalating demand for accessing lower-cost labor markets and reduction of overhead expenses by numerous organizations. This can be attributed to the rapid utilization of internal resources towards core business activities and strategic initiatives. In line with this, the easy access to extensive experience and domain expertise in non-core administrative functions is resulting in a higher uptake of G&A outsourcing services. Moreover, continual advancements in robotic process automation (RPA), artificial intelligence (AI), and machine learning (ML) algorithms in various business processes is providing an impetus to the market. In addition to this, the augmenting demand for business process standardization and streamlining of processes across multiple locations or business units is also leading to the increasing adoption of G&A outsourcing. Furthermore, the growing number of organizational changes, such as mergers and acquisitions (M&As), and strategic business restructuring is creating a positive outlook for the market. Apart from this, an enhanced focus on improved customer experience by the organizations through redirecting internal resources towards customer-facing processes is impacting the market favorably. Some of the other factors contributing to the market include rapid digitization, the advent of Industry 4.0, shifting preference towards remote work, growing need for scalability, and extensive research and development (R&D) activities conducted by the key players.Key Market Segmentation:
The publisher provides an analysis of the key trends in each segment of the global general and administrative outsourcing market, along with forecasts at the global, regional, and country levels from 2024-2032. The report has categorized the market based on type and application.Type Insights:
- Finance and Accounting Outsourcing (FAO)
- Recruitment Process Outsourcing (RPO)
- Payroll Outsourcing
- Procurement Outsourcing
- Others
Application Insights:
- BFSI
- Healthcare
- Telecom
- Manufacturing
- Others
Regional Insights:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the global general and administrative outsourcing market. Detailed profiles of all major companies have been provided. Some of the companies covered include Accenture plc, Aon PLC, Automatic Data Processing Inc., EXLServices Holdings Inc., Genpact, GEP Worldwide, HCL Technologies Limited, Infosys Limited, International Business Machines Corporation, Kelly Services Inc., Wipro Limited, etc. Kindly note that this only represents a partial list of companies, and the complete list has been provided in the report.Key Questions Answered in This Report:
- How has the global general and administrative outsourcing market performed so far, and how will it perform in the coming years?
- What are the drivers, restraints, and opportunities in the global general and administrative outsourcing market?
- What is the impact of each driver, restraint, and opportunity on the global general and administrative outsourcing market?
- What are the key regional markets?
- Which countries represent the most attractive general and administrative outsourcing market?
- What is the breakup of the market based on the type?
- Which is the most attractive type in the general and administrative outsourcing market?
- What is the breakup of the market based on the application?
- Which is the most attractive application in the general and administrative outsourcing market?
- What is the competitive structure of the global general and administrative outsourcing market?
- Who are the key players/companies in the global general and administrative outsourcing market?
Table of Contents
1 Preface3 Executive Summary10 Value Chain Analysis12 Price Analysis
2 Scope and Methodology
4 Introduction
5 Global General and Administrative Outsourcing Market
6 Market Breakup by Type
7 Market Breakup by Application
8 Market Breakup by Region
9 Drivers, Restraints, and Opportunities
11 Porters Five Forces Analysis
13 Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
- Accenture plc
- Aon PLC
- Automatic Data Processing Inc.
- EXLServices Holdings Inc.
- Genpact
- GEP Worldwide
- HCL Technologies Limited
- Infosys Limited
- International Business Machines Corporation
- Kelly Services Inc.
- Wipro Limited
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 146 |
| Published | March 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 7.4 Billion |
| Forecasted Market Value ( USD | $ 13.4 Billion |
| Compound Annual Growth Rate | 6.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 11 |
