The global BPO market is anticipated to grow at a considerable CAGR of 7.8 % during the forecast period. Rapidly rising adoption of various advance and new technologies such as Robotic Process Automation (RPA) and cloud computing by the market players is major factor which is bolstering the growth of the market. Cloud computing uses a network of internet-connected, remote services to manage, store, and process data. It supports BPO providers in increasing the speed of production, gaining greater quality control, and reducing costs. Adopting cloud computing in the BPO industry aids flexible provisioning, instant computing support, and system access for business purposes whenever required. Furthermore, cloud computing also offers to the BPO market is the reduction in development costs, capital expenditure, the total cost of ownership, and costs aligned to business demands. Such benefits from cloud-based technology are expected to encourage the adoption of cloud computing in the business process outsourcing market over the forecast period.
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BPO service providers can also leverage the benefits of cloud computing to reduce the time required for processing data-intensive business processes. As such, cloud computing in BPO can potentially enhance data processing workflow while reducing the turnaround time, which is another factor fueling the growth of the business process outsourcing market over the forecast.
Moreover, RPA can help BPO providers speed up and offer great new services to clients at an effective and reduced cost. The Implementation of social media management tools focused on real-time customer engagement and cloud technologies is also expected to play a pivotal role in driving the growth of the BPO market over the forecast period.
Global Business Process Outsourcing (BPO) Market Report Segment
By Service Type
- Finance & Accounting
- HR
- KPO
- Procurement
- Customer Services
- Others
By Deployment Model
- Cloud
- In-Premises
By End-User
- BFSI, Healthcare
- Manufacturing
- IT & Telecommunication
- Retail
- Energy & Utilities
- Others
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Business Process Outsourcing (BPO) Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Alight Solutions LLC
- AMDATEX (American Data Exchange)
- Amdocs
- Atos SE
- Automatic Data Processing, Inc.
- Capita plc
- CBRE Group, Inc.
- Ceridian HCM Holding, Inc.
- CGI Inc.
- DXC Technology
- EXLService
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