business process outsourcing (bpo) market

Global Business Process Outsourcing (BPO) Market - Industry Trends and Forecast to 2030

  • Published Date: 2023-08-18
  • Report ID: 145138
  • Pages: 250
  • Format: prudent report format

The global Business Process Outsourcing (BPO) market is projected to register a CAGR of 8.1% in the forecast period of 2023 to 2030. The new market report contains data for the historic year 2022, the base year of calculation is 2022, and the forecast period is 2023 to 2030.

Market Segmentation:

Global Business Process Outsourcing (BPO) Market, By Outsourcing Type (Offshore, Nearshore, Onshore), Application (Customer Care, Finance and Accounting, Talent and HR Services, Sales and Marketing, Sourcing, Procurement and Supply Chain, Facilities and Administration, Product Engineering, Training, Others), Deployment Mode (On-Premise, Cloud), Organization Size (Large Enterprises, SMEs), Ownership (Captive, Third Party), Outsourcing Approach (Best-Shore, Bundled Services, Contract Based, Fee For Service), End-User (BFSI, IT & Telecom, Healthcare, Manufacturing, Retail & E-commerce, Government & Defense, Transportation & Logistics, Travel & Hospitality, Education, Energy & Utilities, and Others), Country (U.S., Canada, Mexico, U.K., Germany, France, Spain, Italy, Netherlands, Switzerland, Russia, Belgium, Turkey, Rest of Europe, China, South Korea, Japan, India, Australia, Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Rest of Asia-Pacific, South Africa, Saudi Arabia, the U.A.E., Israel, Egypt, Rest of the Middle East and Africa, Brazil, Argentina, and the Rest of South America) Industry Trends and Forecast to 2030

Some of the major factors contributing to the growth of the market are:

Instead of buying IT equipment and hiring more employees to do different tasks, BPO can outsource the tasks to a service provider, reducing or even eliminating overhead costs
Transferring non-core processes to a BPO company gives the organization more time to focus on its main business activities
If an organization decides to enter an overseas market, some activities that require local market knowledge, national law expertise, or fluency in a foreign language can be assigned to a BPO company.

Market Players

Some of the major players operating in the global Business Process Outsourcing (BPO) market are:

Quarnstrom & Vang
Mediterranean Consulting
Parera Consulting Group SL
Newco communications
Callgest.net
DISYS
Xterna
Grupo CMC.
Nova BPO
TRIA HORA
Cognodata
DAEM Direccin y Administracin de Empresas, S.A.
Abinitio Consulting SLU
UNISONO SOLUTIONS GROUP S.L. (acquired by Intelica group)
Essentiel-outsourcing
Wallner Group
CPM International
Bukit BPO by BC
TDCX
WebhelpIBM Corporation
Cognizant
Capgemini
Genpact
ADP, Inc.
Wipro Limited
Accenture
Tata Consultancy Services Limited
HCL Technologies Limited
NTT DATA, Inc.
WNS (Holdings) Ltd.
Conduent, Inc.
NCR Corporation
Tech Mahindra Limited
Infosys Limited
Triniter
Concentrix Corporation
TTEC
SunTec Web Services Pvt. Ltd.
Invensis Technologies Pvt. Ltd.
Plaxonic Technologies
Sodexo
ExlService Holdings, Inc. and Affiliates.
Intetics Inc.
AMDOCS
CBRE
Unity Communications
eNoah
Helpware
Octopus Tech
Outsourcia
Aidey
ALAC ETOILE
Humania BPO
Intersa
CBRE
H2A


TABLE OF CONTENTS
1 INTRODUCTION 80
1.1 OBJECTIVES OF THE STUDY 80
1.2 MARKET DEFINITION 80
1.3 OVERVIEW OF THE GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET 80
1.4 LIMITATIONS 83
1.5 MARKETS COVERED 83
2 MARKET SEGMENTATION 89
2.1 MARKETS COVERED 89
2.2 GEOGRAPHICAL SCOPE 90
2.3 YEARS CONSIDERED FOR THE STUDY 91
2.4 CURRENCY AND PRICING 91
2.5 DBMR TRIPOD DATA VALIDATION MODEL 92
2.6 MULTIVARIATE MODELLING 95
2.7 OUTSOURCING TYPE TIMELINE CURVE 96
2.8 MARKET END-USER COVERAGE GRID 97
2.9 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 98
2.10 DBMR MARKET POSITION GRID 99
2.11 VENDOR SHARE ANALYSIS 101
2.12 SECONDARY SOURCES 102
2.13 ASSUMPTIONS 102
3 EXECUTIVE SUMMARY 103
4 PREMIUM INSIGHTS 106
4.1 PORTERS ANALYSIS 109
4.2 VALUE CHAIN ANALYSIS 110
4.3 EVOLUTION 111
5 MARKET OVERVIEW 112
5.1 DRIVERS 114
5.1.1 INCREASING NEED FOR BUSINESS AGILITY 114
5.1.2 RISING CUSTOMER FOCUS TOWARD ENHANCED EFFICIENCY, TIME EFFECTIVENESS, AND COST EFFICIENCY 116
5.1.3 GROWING PREFERENCE FOR CLOUD TECHNOLOGY AND ITS SIGNIFICANCE ON PROCESS AUTOMATION 117
5.1.4 INCREASING DEPENDENCE ON SALES AND MARKETING FOR CUSTOMER SERVICE ENHANCEMENT 118
5.1.5 UPSURGE IN THE CAPACITY OF QUALITY ENTERPRISE DATA 119
5.2 RESTRAINTS 120
5.2.1 GROWING CONCERNS REGARDING DATA SECURITY AND PRIVACY CONCERN 120
5.2.2 STRINGENT GOVERNMENT REGULATIONS 120
5.3 OPPORTUNITIES 121
5.3.1 FOCUS ON MULTI-WORKFLOW SCHEDULING OF BUSINESS 121
5.3.2 EMERGENCE OF DIGITAL TECHNOLOGIES, NAMELY AI, IOT, AND CLOUD COMPUTING 122
5.3.3 INCREASE IN THE ESTABLISHMENT OF SERVICE CENTERS AND IT SECTOR SPENDING 123
5.3.4 GROWING NUMBER OF START-UPS PARTNERING WITH BUSINESS PROCESS OUTSOURCING (BPO) 123
5.4 CHALLENGES 124
5.4.1 LACK OF SKILLED WORKFORCE AND HIGH ATTRITION RATE 124
5.4.2 FREQUENT DISRUPTION AFFECTS THE OPERATIONAL EFFICIENCY OF BUSINESS PROCESS OUTSOURCING (BPO) 125
5.4.3 INCREASE IN THE PRESENCE OF NEW ENTRANTS 126
6 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY OUTSOURCING TYPE 127
6.1 OVERVIEW 128
6.2 OFFSHORE 129
6.3 ONSHORE 130
6.4 NEARSHORE 130
7 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY SERVICE 132
7.1 OVERVIEW 133
7.2 VOICE PROCESSING 134
7.2.1 INBOUND 135
7.2.2 OUTBOUND 135
7.2.3 SURVEY AND MARKET RESEARCH 135
7.3 TELEMARKETING SERVICES 135
7.4 IMAGE EDITING SERVICES 136
7.5 VIRTUAL STAFFING SERVICES 137
7.6 3D VISUALIZATION SERVICES 137
7.6.1 3D ANIMATION 138
7.6.2 CAD MODELING 138
7.6.3 3D ILLUSTRATION 138
7.6.4 3D DEVELOPMENT 139
7.6.5 OTHERS 139
7.7 OTHERS 139
8 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY APPLICATION 140
8.1 OVERVIEW 141
8.2 CUSTOMER CARE 142
8.3 FINANCE AND ACCOUNTING 143
8.3.1 ORDER TO CASH 144
8.3.1.1 COLLECTION AND ACCOUNTS RECEIVABLE 144
8.3.1.2 ORDER MANAGEMENT AND BILLING 144
8.3.1.3 ORDER TO CASH ANALYTICS 145
8.3.2 PROCURE TO PAY 145
8.3.2.1 ACCOUNTS PAYABLE 145
8.3.2.2 EMPLOYEE DISBURSEMENTS 145
8.3.2.3 ANALYTICS 145
8.3.2.4 PROCESS SUPPORT 145
8.3.3 RECORD TO REPORT 146
8.3.3.1 GENERAL LEDGER 146
8.3.3.2 DATA INTEGRITY AND REPORTING SERVICES 146
8.3.3.3 COST ACCOUNTING & TREASURY 146
8.3.4 FINANCIAL PLANNING & ANALYSIS 146
8.3.4.1 BUDGETING AND FORECASTING 147
8.3.4.2 BUSINESS METRICS AND TRACKING 147
8.3.4.3 DECISION SUPPORT AND ANALYSIS 147
8.3.5 LOGISTICS & WAREHOUSING 147
8.3.6 TRANSPORTATION & VEHICLE LEASING 147
8.3.7 COURIER SERVICES 147
8.3.8 MOVING & RELOCATION 147
8.4 TALENT AND HR SERVICES 148
8.4.1 EMPLOYEE AND HR OPERATIONS 149
8.4.1.1 PAYROLL AND PENSION 149
8.4.1.2 EMPLOYEE SERVICES 149
8.4.1.3 GOVERNMENT RELATION SERVICES 149
8.4.1.4 WORKFORCE DATA ADMINISTRATION 149
8.4.1.5 CW MANAGEMENT 149
8.4.1.5.1 MASTER DATA MANAGEMENT 150
8.4.1.5.2 VENDOR MANAGEMENT 150
8.4.1.5.3 EXIT MANAGEMENT 150
8.4.2 TALENT ACQUISITION AND DEVELOPMENT 150
8.4.2.1 TALENT DEVELOPMENT 151
8.4.2.1.1 ORGANIZATION AND CHANGE MANAGEMENT 151
8.4.2.1.2 COMPETENCY AND DEVELOPMENT MANAGEMENT 151
8.4.2.1.3 LEARNING CONTENT DEVELOPMENT & LEARNING DELIVERY 151
8.4.2.1.4 CURRICULUM AND CAMPAIGN DESIGN 151
8.4.2.1.5 COLLABORATION AND KNOWLEDGE MANAGEMENT 152
8.4.2.1.6 COMPENSATION PLANNING 152
8.4.2.1.7 OTHERS 152
8.4.2.2 TALENT ACQUISITION 152
8.4.2.2.1 WORKFORCE PLANNING 152
8.4.2.2.2 CANDIDATE SOURCING SCREENING AND SELECTION 153
8.4.2.2.3 NEW JOINER OFFER AND ON BOARDING 153
8.4.2.2.4 HIRING CLEARANCES 153
8.4.2.2.5 RELOCATION ASSISTANCE, INTER COMPANY AND GLOBAL MOBILITY 153
8.4.2.2.6 OTHERS 153
8.5 SALES AND MARKETING 153
8.6 SOURCING, PROCUREMENT AND SUPPLY CHAIN 154
8.6.1 PROCUREMENT ADMIN SUPPORT 155
8.6.2 PROCUREMENT CONSULTING 155
8.7 FACILITIES AND ADMINISTRATION 155
8.8 PRODUCT ENGINEERING 156
8.9 TRAINING 156
8.10 OTHERS 157
9 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY DEPLOYMENT MODE 158
9.1 OVERVIEW 159
9.2 CLOUD 160
9.3 ON PREMISE 161
10 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY ORGANIZATION SIZE 162
10.1 OVERVIEW 163
10.2 LARGE ENTERPRISES 164
10.3 SMES 165
11 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY OWNERSHIP 166
11.1 OVERVIEW 167
11.2 CAPTIVE 168
11.3 THIRD PARTY 169
12 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY OUTSOURCING APPROACH 170
12.1 OVERVIEW 171
12.2 CONTRACT BASED 172
12.3 BUNDLED SERVICES 173
12.4 BEST-SHORE 173
12.5 FEE FOR SERVICE 174
13 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY END USER 175
13.1 OVERVIEW 176
13.2 IT AND TELECOMMUNICATION 177
13.2.1 CUSTOMER CARE 178
13.2.2 FINANCE AND ACCOUNTING 178
13.2.3 TALENT AND HR SERVICES 179
13.2.4 SALES AND MARKETING 179
13.2.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 179
13.2.6 FACILITIES AND ADMINISTRATION 179
13.2.7 PRODUCT ENGINEERING 179
13.2.8 TRAINING 179
13.2.9 OTHERS 179
13.3 MANUFACTURING 179
13.3.1 CUSTOMER CARE 180
13.3.2 FINANCE AND ACCOUNTING 180
13.3.3 TALENT AND HR SERVICES 181
13.3.4 SALES AND MARKETING 181
13.3.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 181
13.3.6 FACILITIES AND ADMINISTRATION 181
13.3.7 PRODUCT ENGINEERING 181
13.3.8 TRAINING 181
13.3.9 OTHERS 181
13.4 BFSI 181
13.4.1 CUSTOMER CARE 182
13.4.2 FINANCE AND ACCOUNTING 182
13.4.3 TALENT AND HR SERVICES 183
13.4.4 SALES AND MARKETING 183
13.4.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 183
13.4.6 FACILITIES AND ADMINISTRATION 183
13.4.7 PRODUCT ENGINEERING 183
13.4.8 TRAINING 183
13.4.9 OTHERS 183
13.5 GOVERNMENT & DEFENSE 183
13.5.1 CUSTOMER CARE 184
13.5.2 FINANCE AND ACCOUNTING 184
13.5.3 TALENT AND HR SERVICES 185
13.5.4 SALES AND MARKETING 185
13.5.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 185
13.5.6 FACILITIES AND ADMINISTRATION 185
13.5.7 PRODUCT ENGINEERING 185
13.5.8 TRAINING 185
13.5.9 OTHERS 185
13.6 TRANSPORTATION AND LOGISTICS 185
13.6.1 CUSTOMER CARE 186
13.6.2 FINANCE AND ACCOUNTING 186
13.6.3 TALENT AND HR SERVICES 187
13.6.4 SALES AND MARKETING 187
13.6.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 187
13.6.6 FACILITIES AND ADMINISTRATION 187
13.6.7 PRODUCT ENGINEERING 187
13.6.8 TRAINING 187
13.6.9 OTHERS 187
13.7 RETAIL AND E-COMMERCE 187
13.7.1 CUSTOMER CARE 188
13.7.2 FINANCE AND ACCOUNTING 188
13.7.3 TALENT AND HR SERVICES 189
13.7.4 SALES AND MARKETING 189
13.7.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 189
13.7.6 FACILITIES AND ADMINISTRATION 189
13.7.7 PRODUCT ENGINEERING 189
13.7.8 TRAINING 189
13.7.9 OTHERS 189
13.8 TRAVEL AND HOSPITALITY 189
13.8.1 CUSTOMER CARE 190
13.8.2 FINANCE AND ACCOUNTING 190
13.8.3 TALENT AND HR SERVICES 191
13.8.4 SALES AND MARKETING 191
13.8.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 191
13.8.6 FACILITIES AND ADMINISTRATION 191
13.8.7 PRODUCT ENGINEERING 191
13.8.8 TRAINING 191
13.8.9 OTHERS 191
13.9 HEALTHCARE 191
13.9.1 CUSTOMER CARE 192
13.9.2 FINANCE AND ACCOUNTING 192
13.9.3 TALENT AND HR SERVICES 193
13.9.4 SALES AND MARKETING 193
13.9.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 193
13.9.6 FACILITIES AND ADMINISTRATION 193
13.9.7 PRODUCT ENGINEERING 193
13.9.8 TRAINING 193
13.9.9 OTHERS 193
13.10 ENERGY AND UTILITIES 193
13.10.1 CUSTOMER CARE 194
13.10.2 FINANCE AND ACCOUNTING 194
13.10.3 TALENT AND HR SERVICES 195
13.10.4 SALES AND MARKETING 195
13.10.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 195
13.10.6 FACILITIES AND ADMINISTRATION 195
13.10.7 PRODUCT ENGINEERING 195
13.10.8 TRAINING 195
13.10.9 OTHERS 195
13.11 EDUCATION 195
13.11.1 CUSTOMER CARE 196
13.11.2 FINANCE AND ACCOUNTING 196
13.11.3 TALENT AND HR SERVICES 197
13.11.4 SALES AND MARKETING 197
13.11.5 SOURCING, PROCUREMENT & SUPPLY CHAIN 197
13.11.6 FACILITIES AND ADMINISTRATION 197
13.11.7 PRODUCT ENGINEERING 197
13.11.8 TRAINING 197
13.11.9 OTHERS 197
13.12 OTHERS 198
14 GLOBAL BUSINESS PROCESS OUTSOURCING (BPO) MARKET, BY REGION 199
14.1 OVERVIEW 200
14.2 NORTH AMERICA 207
14.2.1 U.S. 224
14.2.2 CANADA 237
14.2.3 MEXICO 250
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