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Allied Market Research

BPO Service Market Type (IT Outsourcing, Finance & Accounting Outsourcing, Back Office Outsourcing, E-commerce Support Services, Training & Development Outsourcing) Organization Size (Small & Medium-sized Enterprises, Large Enterprises) Vertical (BFSI, IT & Telecommunications, Retail & Consumer Goods, Manufacturing, Healthcare, Government & Defense) : Global Opportunity Analysis and Industry Forecast, 2020-2027

A07932
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Aug 2021 | 1141 Views
   
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COVID-19

Pandemic disrupted the entire world and affected many industries.

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Business process outsourcing is a sub-set of outsourcing that requires contracting third-party service providers for various business-related operations and responsibilities such as IT, finance & accounting, back office process, e-commerce & support, procurement, human resource & recruitment process to different organizations. BPO solutions help to strengthen core business. Normally, the service is classified into the back office work. Many firms, from small start-ups to large, prefer for outsourcing processes as new and innovative services are readily available in highly competitive business environment.

Market scope and structure analysis:

              Report Metric

                                        Details

  Market size available for years

  2020–2027

  Base year considered

  2019

  Forecast period

  2021–2027

  Forecast units 

  Value ($US)

  Segments covered

  Type, Organization Size, Vertical, and Region

  Regions covered

North America (U.S., Canada, and Mexico), Europe (Germany, UK, France, Italy, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, Malaysia, Thailand, Indonesia, and Rest of Asia-Pacific), LAMEA (Middle East, Brazil, and Rest of LAMEA)

  Companies covered

DP, LLC, Conduent Inc., Accenture PLC, WNS (Holdings) Ltd, Capgemini, Infosys BPM Limited, IBM Corporation, Tata Consultancy Services Limited (TCS), TTEC Holdings, Inc., and Conneqt Business Solution Limited

 

COVID-19 Scenario Analysis: 

  • With COVID-19 rapidly spreading around the globe, BPO companies and third-party service providers are struggling to cope with changing working conditions. 
  • Some of the top problems faced by BPO organizations are data security and the impact on productivity due either to inadequate infrastructure in employee homes or lack of supervision.
  • The other issues include difficulty in recording calls when working remotely and exposure to clients of personal employee data. 
  • Organizations are taking several measures to ensure that remote working does not adversely affect the productivity of contact center agents.

Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis

Reduction in barriers of international trade and improved telecommunications & IT capabilities have led to a situation where organizations are increasingly interlinked to each other for business, encouraging demand for the BPO services market.
Rise in adoption of application outsourcing and increase in digital transformation in the organization are some of the factors that drive the demand for the BPO service market as startups are now becoming BPO customers.

Lack of effective communication between client and vendor and the presence of other artificial outsourcing services becomes an obstacle for the growth of the BPO service market. 

The global Market Trend are as follows:

  • An organization's business activities are classified into critical, core, and non-core activities. Core activities are the primary competencies of the company which gives a strategic advantage to the company. Critical activities demand specialized skill-setting. Similarly, non-core activities are supporting activities that involve relationship management in large measurements between consumers and products. Nowadays, companies have started focusing on core activities to maintain their market presence and expand their customer base, resulting in the outsourcing of resources for non-core activities and thus generating avenues in Business Outsourcing Market. This also leads to greater productivity of employees and helps them to make better and more informed business decisions.
  • Business process outsourcing companies can choose to outsource specific services or business functions based on their individual needs. These services include payroll, information technology, logistics, and legal services. Labor cost reduction as well as the removal of overheads resulting from human resources and equipment is some of the possible benefits of outsourcing. Business process outsourcing services offer greater flexibility as it allows businesses to respond more quickly to changing market dynamics by tailoring BPO processes as the market changes.
  • It has seen tremendous growth over the years due to multiple advantages of the BPO industry and estimates reveal that this growth will be seen in the future as well as. The BPO industry is currently responsible for creating the second-highest number of jobs, and the global BPO market is estimated to cross an astonishing $400 billion. The remuneration given to the employees is also one of the best in the industry, which is one of the main reasons young people have to work at BPO. The BPO industry has employed many talented young people and has changed the GDP of various small countries.

Key Segment Covered:

            Segments

                                Sub-segments

  Type

  • IT Outsourcing
  • Finance & Accounting Outsourcing
  • Back Office Outsourcing
  • E-commerce Support Services
  • Training & Development Outsourcing

  Organization Size

  • Small & Medium-sized Enterprises
  • Large Enterprises

  Vertical

  • BFSI
  • IT & Telecommunications
  • Retail & Consumer Goods
  • Manufacturing
  • Healthcare
  • Government & Defense

 

Key Benefits of the Report:

  • This study presents the analytical depiction of the BPO service industry along with the current trends and future estimations to determine the imminent investment pockets.
  • The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the BPO service market share.
  • The current market is quantitatively analyzed from 2020 to 2027 to highlight the global BPO service market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed BPO service market analysis based on competitive intensity and how the competition will take shape in coming years. 

Questions Answered in the BPO Service Market Research Report:

  • What are the leading market players active in the BPO service market?
  • What the current trends will influence the market in the next few years?
  • What are the driving factors, restraints, and opportunities in the market?
  • What future projections would help in taking further strategic steps?
 
With collective industry experience of about 200 years of its analysts and experts, Allied Market Research (AMR) encompasses most infallible research methodology for its market intelligence and industry analysis. We do not only engrave the deepest levels of markets but also sneak through its slimmest details for the purpose of our market estimates and forecasts. Our approach helps in building greater market consensus view for size, shape and industry trends within each industry segment. We carefully factor in industry trends and real developments for identifying key growth factors and future course of the market. Our research proceeds are the resultant of high quality data, expert views and analysis and high value independent opinions. Our research process is designed to deliver balanced view of the global markets and allow stakeholders to make informed decisions.

We offer our clients exhaustive research and analysis based on wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics and regional intelligence. Our in-house industry experts play instrumental role in designing analytic tools and models, tailored to the requirements of particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of our recommendations and advice. With AMR’s calibrated research process and 360` degree data-evaluation methodology, our clients are assured of receiving:

  • Consistent, valuable, robust and actionable data & analysis that can easily be referenced for strategic business planning
  • Technologically sophisticated and reliable insights through well audited and veracious research methodology
  • Sovereign research proceeds that present a tangible depiction of marketplace


With a strong methodology we are, therefore, confident that our research and analysis are most reliable and guarantees sound business planning.

Secondary research
We refer a broad array of industry sources for our secondary, which typically include; however, not limited to: Company SEC filings, annual reports, company websites, broker & financial reports and investor presentations for competitive scenario and shape of the industry

  • Patent and regulatory databases for understanding of technical & legal developments
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic new articles, web-casts and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators and relevant press releases for market estimates and forecast


Primary research
Our primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks and face-to-face interactions. We are also in professional corporate relations with various companies that allow us greater flexibility for reaching out industry participants and commentators for interviews and discussions, fulfilling following functions:

  • Validates and improves the data quality and strengthens research proceeds
  • Further develops analyst team’s market understanding and expertise
  • Supplies authentic information about market size, share, growth and forecasts


Our primary research interview and discussion panels are typically composed of most experienced industry members. These participants include; however, not limited to:

  • Chief executives and VPs of leading corporations specific to industry
  • Product and sales managers or country heads; channel partners and top level distributors; banking, investments and valuation experts Key opinion leaders (KOLs)


Analyst tools and models
AMR has developed set of analyst tools and data models to supplement and expedite the analysis process. Corresponding to markets, where there is significant lack of information and estimates, AMR’s team of experts and analyst develop specific analyst tools and industry models to translate qualitative and quantitative industry indicators into exact industry estimates. These models also allow analysts to examine the prospects and opportunities prevailing in the market to accurately forecast the course of the market.
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