Business Process Outsourcing (BPO) Services Market – Share, Size, Global Industry Analysis, Key Growth Drivers Trends, Segments, Opportunity and Forecast 2028

Business Process Outsourcing (BPO) Services: The outsourcing in which the third-party service provider is hired for performing various business-related responsibilities and operations is called Business Process Outsourcing (BPO) Services. Nowadays, every industry across the globe uses BPO services as a part of its business model.

The Global Business Process Outsourcing (BPO) industry has grown at a compound annual growth rate of 4.4%, which resulted in total revenues of USD 140.3 billion in 2016. This growth has taken place between 2012 to 2016.

Services for outsourcing business processes (including accounting, payroll, outsourcing of data analytics) allow companies to allocate their resources and time to core office and business operations.

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Market segment by players, this report covers

  • IBM Corporation (U.S.)
  • Syntel Inc. (U.S.)
  • Xerox Corporation (U.S.)
  • Infosys BPO Ltd. (India)
  • ADP LLC. (U.S.)
  • Accenture PLC (Ireland)
  • Aon Hewitt (U.S.)
  • Tata Consultancy Services Limited (India)
  • Capgemini (France)
  • Wipro Limited (India)

Market segment by Type, covers

Customer Services

Finance and Accounting

Human Resources

Procurement

KPO

Others

Market segment by Application, can be divided into

BFSI

Manufacturing

Healthcare

Retail

IT and Telecommunication

Others

Market segment by regions, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Australia, and Rest of Asia-Pacific)

South America (Brazil, Argentina, Rest of South America)

Middle East & Africa (Turkey, Saudi Arabia, UAE, Rest of Middle East & Africa)

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Business process outsourcing (BPO) refers to a method that allows a business to contract their business-related activities to the outside service provider. The most important BPO services are payroll, human resources, and call center relations. It is expected that the BPO market is predicted to grow at a rate of 5.2 percent over the forecast time.

The great number of companies depend upon business outsourcing, as they have found that it has been a cost-effective long-term solution. A growing number of countries see BPO as a chance in the creation of jobs, and this encourages the markets that are not developed.

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