Business Process Outsourcing (BPO) Services Market Outlook 2022: Top BPO companies, Market Trends, Segmentation, consumption by Regional data, Market Growth and Competitive Landscape (2022)

Business Process Outsourcing (BPO) Services Market Outlook 2022: Top BPO companies, Market Trends, Segmentation, consumption by Regional data, Market Growth and Competitive Landscape (1)

PUNE, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Global "Business Process Outsourcing (BPO) Services Market" research report focus on overall information that can help to take decisions on current market situation. Fully considering the economic change by this health crisis, Customer Services accounting for % of the Business Process Outsourcing (BPO) Services global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR from 2022 to 2028. While BFSI segment is altered to an % CAGR throughout this forecast period.

Business Process Outsourcing (BPO) Services Market Report Contains: -

  • Complete overview of the global Business Process Outsourcing (BPO) Services Market

  • Top Country data and analysis for United States, Canada, Mexico, Germany, France, United Kingdom, Russia, Italy, China, Japan, Korea, India, Southeast Asia, Australia, Brazil and Saudi Arabia, etc. It also throws light on the progress of key regional Business Process Outsourcing (BPO) Services markets such as North America, Europe, Asia-Pacific, South America and Middle East and Africa

  • Description and analysis of Business Process Outsourcing (BPO) Services market potential by type, Deep Dive, disruption, application capacity, end use industry

  • impact evaluation of most important drivers and restraints, and dynamics of the global Business Process Outsourcing (BPO) Services market and current trends in the enterprise

  • Detailed profiles of the Top major players in the industry, including. 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)

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Business Process Outsourcing (BPO) Services Market Segmentation: -

"Business Process Outsourcing (BPO) Services Market Size 2022" research report focus on overall information that can help to take decisions on current market situation. This report provides information about Size, Types, Application, Production, Revenue, Growth Rate, Gross margin, opportunities with future risk analysis. The report also describes top company profiles that present in market with trends worldwide. This article contains financial changes during years with Impact of COVID-19 on Business Process Outsourcing (BPO) Services market.

The global Business Process Outsourcing (BPO) Services market size is projected to reach US$ million by 2028, from US$ million in 2021, at a CAGR of % during 2022-2028.

China Business Process Outsourcing (BPO) Services market size is valued at US$ million in 2021, while the North America and Europe Business Process Outsourcing (BPO) Services are US$ million and US$ million, severally. The proportion of the North America is % in 2021, while China and Europe are % and respectively, and it is predicted that China proportion will reach % in 2028, trailing a CAGR of % through the analysis period 2022-2028. Japan, South Korea, and Southeast Asia are noteworthy markets in Asia, with CAGR %, %, and % respectively for the next 6-year period. As for the Europe Business Process Outsourcing (BPO) Services landscape, Germany is projected to reach US$ million by 2028 trailing a CAGR of % over the forecast period 2022-2028.

With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Business Process Outsourcing (BPO) Services market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Business Process Outsourcing (BPO) Services market in terms of revenue.

Overall, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Business Process Outsourcing (BPO) Services market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Business Process Outsourcing (BPO) Services market.

Global Business Process Outsourcing (BPO) Services Scope and Market Size

Business Process Outsourcing (BPO) Services market is segmented by players, region (country), by Type and by Application. Players, stakeholders, and other participants in the global Business Process Outsourcing (BPO) Services market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application for the period 2017-2028.

Business Process Outsourcing (BPO) Services Market segments help decision-makers direct the product, sales, and marketing strategies, and can power your product development cycles by informing how you make product offerings for different segments.

Segment by Type

  • Customer Services

  • Finance and Accounting

    (Video) Current Business Process Outsourcing (BPO) challenges: Can we still satisfy our clients?

  • Human Resources

  • Procurement

  • KPO

  • Others

Segment by Application

  • BFSI

  • Manufacturing

  • Healthcare

  • Retail

  • IT and Telecommunication

  • Others

Market segment by Region/Country including: -

  • North America (United States, Canada, and Mexico)

  • Europe (Germany, UK, France, Italy, Russia and Spain, etc.)

  • Asia-Pacific (China, Japan, Korea, India, Australia, Southeast Asia, etc.)

  • South America (Brazil, Argentina, Colombia, etc.)

  • Middle East & Africa (South Africa, UAE, Saudi Arabia, etc.)

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Key Players in the Business Process Outsourcing (BPO) Services Market: -

  • IBM Corporation (U.S.)

  • Syntel Inc. (U.S.)

  • Xerox Corporation (U.S.)

  • Infosys BPO Ltd. (India)

  • ADP LLC. (U.S.)

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  • Accenture PLC (Ireland)

  • Aon Hewitt (U.S.)

  • Tata Consultancy Services Limited (India)

  • Capgemini (France)

  • Wipro Limited (India)

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Key Benefits of Business Process Outsourcing (BPO) Services Market Research Report:

  • Types, applications, regions, and key players covered in the study

  • Industry drivers, restraints, and opportunities covered in the study

  • Recent industry trends and developments

  • Competitive landscape & strategies of key players

  • Historical, current, and projected market size, in terms of value

  • In-depth analysis of the Artificial Intelligence AI Chips Market

  • Sales, price, revenue, market share, and growth rate are covered in the report sales channels, distributors, traders, dealers, etc. are covered in the report

Detailed TOC of Global Business Process Outsourcing (BPO) Services Market Research Report 2022

1 Report Overview

1.1 Study Scope

1.2 Market Analysis by Type

1.2.1 Global Business Process Outsourcing (BPO) Services Market Size Growth Rate by Type: 2017 VS 2021 VS 2028

1.2.2 Customer Services

1.2.3 Finance and Accounting

1.2.4 Human Resources

1.2.5 Procurement

1.2.6 KPO

(Video) Webinar: BPaaS - How Process Outsourcing Helps Health Insurance Plans Compete

1.2.7 Others

1.3 Market by Application

1.3.1 Global Business Process Outsourcing (BPO) Services Market Share by Application: 2017 VS 2021 VS 2028

1.3.2 BFSI

1.3.3 Manufacturing

1.3.4 Healthcare

1.3.5 Retail

1.3.6 IT and Telecommunication

1.3.7 Others

1.4 Study Objectives

1.5 Years Considered

2 Global Growth Trends

2.1 Global Business Process Outsourcing (BPO) Services Market Perspective (2017-2028)

2.2 Business Process Outsourcing (BPO) Services Growth Trends by Region

2.2.1 Business Process Outsourcing (BPO) Services Market Size by Region: 2017 VS 2021 VS 2028

2.2.2 Business Process Outsourcing (BPO) Services Historic Market Size by Region (2017-2022)

2.2.3 Business Process Outsourcing (BPO) Services Forecasted Market Size by Region (2023-2028)

2.3 Business Process Outsourcing (BPO) Services Market Dynamics

2.3.1 Business Process Outsourcing (BPO) Services Industry Trends

2.3.2 Business Process Outsourcing (BPO) Services Market Drivers

2.3.3 Business Process Outsourcing (BPO) Services Market Challenges

2.3.4 Business Process Outsourcing (BPO) Services Market Restraints

3 Competition Landscape by Key Players

3.1 Global Top Business Process Outsourcing (BPO) Services Players by Revenue

(Video) Launch of the Global Value Chain Development Report 2021: Beyond Production

3.1.1 Global Top Business Process Outsourcing (BPO) Services Players by Revenue (2017-2022)

3.1.2 Global Business Process Outsourcing (BPO) Services Revenue Market Share by Players (2017-2022)

3.2 Global Business Process Outsourcing (BPO) Services Market Share by Company Type (Tier 1, Tier 2, and Tier 3)

3.3 Players Covered: Ranking by Business Process Outsourcing (BPO) Services Revenue

3.4 Global Business Process Outsourcing (BPO) Services Market Concentration Ratio

3.4.1 Global Business Process Outsourcing (BPO) Services Market Concentration Ratio (CR5 and HHI)

3.4.2 Global Top 10 and Top 5 Companies by Business Process Outsourcing (BPO) Services Revenue in 2021

3.5 Business Process Outsourcing (BPO) Services Key Players Head office and Area Served

3.6 Key Players Business Process Outsourcing (BPO) Services Product Solution and Service

3.7 Date of Enter into Business Process Outsourcing (BPO) Services Market

3.8 Mergers & Acquisitions, Expansion Plans

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Business Process Outsourcing (BPO) Services Market Outlook 2022: Top BPO companies, Market Trends, Segmentation, consumption by Regional data, Market Growth and Competitive Landscape (2)

(Video) Asia CEO Forum with Richard Mills | Asia BPM Forum 2022

FAQs

What are the recent trends of BPO? ›

Top BPO Trends For 2021
  • Emerging Technology.
  • Social Media Management.
  • Cloud Computing Investments.
  • Advanced Skills for BPO Professionals.
  • Startups as BPO Customers.
  • Omnichannel Communication.
  • Transparency.
  • Continued Growth in India, Malaysia, &The Philippines.

What is the market for BPO? ›

The global business process outsourcing market size was estimated at USD 245.91 billion in 2021 and is expected to reach USD 261.9 billion in 2022.
...
Report AttributeDetails
Market size value in 2022USD 261.9 billion
Revenue forecast in 2030USD 525.2 billion
Growth RateCAGR of 9.1% from 2022 to 2030
11 more rows

Is BPO is fastest growing industry? ›

Despite the unprecedented difficulties, the BPO sector continues to move forward, even seeing a bright future in the coming years ahead. In fact, BPO is still considered to be one of the fastest growing industries and we have listed the top 5 reasons why.

Why is BPO a trend? ›

Smaller transactions, hybrid outsourcing, increased governance needs, and lower-cost consultant models have all become more common in the BPO market. Various advantages of BPO include cost savings, enhanced customer service, better focus on core operations, competitive capacities, and speed to market.

What is the future of BPO? ›

The Future Of BPO

CAGR [compound annual growth rate] of over 7%” between 2020 and 2024. The report summary further notes that “the business process outsourcing market size has the potential to grow by US$76.90 billion during 2020–2024” and that its market growth momentum could accelerate.

Who is the largest BPO? ›

Accenture

The company provides consulting, technology, and business ops services and has been catering to a number of Fortune 100 giants. Accenture is one of the largest professional services companies in the world and employs more than 500,000 people globally.

How many types of BPO are there? ›

BPO is often divided into two main types of services: back office and front office. Back-office services include internal business processes, such as billing or purchasing. Front-office services pertain to the contracting company's customers, such as marketing and tech support.

Which country is the leader today in global BPO market? ›

India is still the number one country for business process outsourcing, followed by China and Malaysia, according to A.T. Kearney's Global Services Location Index.

What is an example of business process outsourcing? ›

Call centers are a type of BPO. For example, a manufacturer may outsource their customer service to a call center. But business process outsourcing isn't limited to customer service, or to call centers. The same manufacturer might use BPO to outsource payroll, accounting, and similar administrative tasks.

Which is better IT or BPO? ›

There is a huge demand for computer engineers and, if you have the right skill-set, you should be able to find a well-paying job. It is not true that there are no career prospects in a BPO. However, the prospects are more business-focused.

Is BPO job is good for future? ›

The booming business process outsourcing industry is indeed a good career option for aspiring graduates and even for management students.

Is BPO job easy? ›

Not only is the work life in a BPO highly monotonous in nature, but it also takes a toll on your health. Most of the work here involves sitting in front of the computer and speaking over headphones. This type of a thing is not good either for your ears or your eyes.

Why is BPO important? ›

Business process outsourcing (BPO) is an important function for many businesses. BPO allows you to focus on the core mission of your business while outsourcing non-essential services such as email support, bookkeeping, or accounting. One industry that uniquely benefits from BPO is the healthcare industry.

Why BPO is in demand in today's era? ›

It is economical.

From both the demand and supply viewpoint, BPOs are an economical choice for companies based out of the US, UK, Europe, and others. After all, globalization has boosted the demand for BPO services because of the decreasing trade barriers.

How has BPO changed the world today? ›

BPO has made running a business easier, helped mitigate risk, increase quality assurance, reduce storage and operational costs, streamlined compliance efforts, and more. In fact, in a recent survey, 59% of business executives globally said they rely on outsourcing services to reduce costs.

What is the highest salary in BPO? ›

Highest salary that a BPO job can earn is ₹4.3 Lakhs per year (₹35.8k per month).

What is the highest position in BPO? ›

Chief Customer Officer (CCO)

What is the biggest challenge facing the BPO industry today? ›

The BPO industry sometimes faces unique challenges around communication, changing political situations, and shifting budgets. Key takeaways: BPO is a fast-growing industry that sometimes faces unique challenges. You may encounter cultural and language barriers when you hire a global team.

What are the 4 BPO services? ›

These subcategories include:
  • Front-Office BPO.
  • Back-Office BPO.
  • Offshore BPO.
  • Nearshore BPO.
  • Onshore/Domestic BPO.
14 Jul 2021

Who is the No 1 IT company in world? ›

1. Microsoft. Microsoft is one of the most valuable enterprises and the largest IT company in the world, generating over $125.8 billion revenue in 2019. Founded by Bill Gates and Paul Allen in 1975, Microsoft Corporation, headquartered in Redmond, Washington, is one of the largest tech companies in the world.

Which company is best in BPO? ›

Top 30 Indian BPO outsourcing companies
  • Genpact.
  • Tata Consultancy Services (TCS)
  • Accenture.
  • Infosys BPM.
  • Wipro.
  • IBM.
  • Firstsource Solutions.
  • Serco Global Services.
17 Aug 2022

What are the three types of BPO? ›

There are three primary types of BPO companies. These are local outsourcing, offshore outsourcing, and nearshore outsourcing. Local outsourcing is a company that is in the same country as your business.

What is BPO job interview? ›

A BPO interview is not an easy task; it requires knowledge and presentation skills. Communication and innovative answers are the way to cross the interview and leave a positive impact on the interviewer. When one has these types of questions, one can prepare himself accordingly and reduce nervousness.

Which country is best for BPO? ›

The Top Countries in the Global BPO Sector
  • India. India's huge labor pool of both semi-skilled and skilled technologists have made this populous country a rapid growth nation in the BPO sector. ...
  • Malaysia. ...
  • Philippines. ...
  • Bulgaria. ...
  • Romania. ...
  • Egypt.
26 Sept 2019

What is the basic difference between BPO and BPM? ›

BPM is similar to BPO in many aspects, except that a BPM expert takes responsibility for delivering the full business process along with hiring, training, and retention of the staff members.

How big is the BPO industry? ›

The revenue of the global BPO industry amounted to 26 billion U.S. dollars in 2019. The largest share of global outsourcing revenue was generated in the Americas, at 62 billion U.S. dollars in 2019.

Is BPO a call center? ›

Definition: BPO call centre

Business-process outsourcing (BPO) is the act of outsourcing some aspect of your business operations to a third-party vendor or service provider. A BPO call centre is a team of outsourced agents who handle incoming and outgoing customer calls for other businesses.

What is BPO experience? ›

Business process outsourcing (BPO) is a business practice in which an organization contracts with an external service provider to perform an essential business function or task.

What kind of work BPO does? ›

Business process outsourcing (BPO) is a type of outsourcing wherein a third-party service provider is employed to carry out one or more business functions in a company. Organizations contract with BPO vendors for back office and front office operations.

What is BPO simple language? ›

Business process outsourcing (BPO) is the delegation of one or more IT-intensive business processes to an external provider that, in turn, owns, administrates and manages the selected processes based on defined and measurable performance metrics.

Is BPO stressful? ›

While employment in the business process outsourcing (BPO) sector has meant that young adults are reaching their career milestones and financial goals much earlier than before, surveys and anecdotal evidence show that workers in the BPO sector experience high levels of stress and its related disorders, primarily due to ...

Is Accenture a BPO or IT? ›

Accenture offers clients a value-driven approach to BPO, which means that we provide services well beyond lowering costs. We inject innovative, market-shaping industry insights that elevate our clients' performance.

What is qualification for BPO job? ›

Qualification required for BPO job

For a BPO job, the basic educational qualification is Intermediate or Plus 2, for a nontechnical voice based BPO category job. Good communication skills and knowledge, fluency and good accent and a presentable voice are a must.

What are the benefits of working in BPO? ›

Advantages of working in the BPO industry
  • Competitive salary. BPO companies offer a higher take-home pay compared to other jobs in the Philippines. ...
  • Better benefits. BPO industries are well known for providing the best benefits for their employees. ...
  • Career advancement. ...
  • Great amenities. ...
  • Work-life balance.
20 Jun 2022

What are the 10 most common interview questions and answers BPO? ›

10 Commonly Asked Questions and Answers in BPO Interview
  • Tell me something about yourself? ...
  • Why do you want to join in BPO? ...
  • Why should we hire you? ...
  • What is the difference between the shore and offshore outsourcing? ...
  • What are the different types of BPO? ...
  • Are you Comfortable with the shifts and as well night shifts?
18 Aug 2022

Is BPO good for freshers? ›

Taking a job in BPO for a fresher is a great way to gain experience and develop new skill sets that will help in the future. It is one of the most popular industries in India. It is an industry where a fresher can have an extreme option in terms of salary and as well in knowledge.

How can I introduce myself in BPO interview? ›

First, introduce yourself by saying your name and where you reside. Then tell why you should be hired for this post and what qualities you have, from your past experiences, that should be good for this job. A one-minute introduction of yourself will do the job.

Is BPO business profitable? ›

There's never been a better time to start a business process outsourcing or BPO company in India. Spending on business process outsourcing (BPO) services is expected to grow at a compound annual growth rate (CAGR) of 5.8 per cent to reach $8.8 billion by 2025. And India is the world leader in BPO.

What is the impact of BPO to the country's economy? ›

BPO is a powerful force currently driving the Philippine economy. It has created a ripple effect in many aspects: Export growth: Philippine merchandise exports increased by 7.6%, amounting to $51.99 billion. Employment generation: As of 2012, there are 493,000 Filipinos employed in the contact industry.

How BPO industries change our lives? ›

How does business process outsourcing change lives? The BPO industry continues to change lives today, not only for the entrepreneurs and companies but also for the employees. For entrepreneurs and companies, outsourcing generates more people, which increases productivity and workforce, thereby generating more profit.

Why BPO is the fastest growing industry? ›

In India, Business Process Outsourcing (BPO) is the fastest growing segment of the ITES (Information Technology Enabled Services) industry. Factors such as economy of scale, business risk mitigation, cost advantage, utilization improvement and superior competency have all lead to the growth of the Indian BPO industry.

Why BPO companies are growing? ›

BPO is economical for businesses

Now more than ever, the pandemic has pushed globalization even further, breaking boundaries and decreasing trade barriers through existing technologies, hence, more possibilities of BPO partnerships in the future.

What you have learned from the top trends in BPO industry in 2021? ›

By 2021, the BPO industry is expected to move towards more technology-based solutions. This year has shown us the need to have established cloud computing services, cybersecurity, and automation in business functions. BPO companies must enhance their cloud service offers to book tech-forward clients.

Why BPO is in demand in today's era? ›

It is economical.

From both the demand and supply viewpoint, BPOs are an economical choice for companies based out of the US, UK, Europe, and others. After all, globalization has boosted the demand for BPO services because of the decreasing trade barriers.

What do you think is the future of BPO in the Philippines? ›

Future for the BPO Industry in the Philippines

Activity in the industry appears to be robust enough such that the industry's projected total income range would reach US$ 40 to 55 billion by 2020.

How has BPO changed the world today? ›

BPO has made running a business easier, helped mitigate risk, increase quality assurance, reduce storage and operational costs, streamlined compliance efforts, and more. In fact, in a recent survey, 59% of business executives globally said they rely on outsourcing services to reduce costs.

What is the importance of technology in BPO industry? ›

With BPO and mobile technologies, businesses can improve their customer service, since the outsourced support centers have access to these technologies that would otherwise require massive investments. Fundamentally, all enterprise IT boils down to the management, manipulation and analysis of data.

What are some of the BPO business models in the industry? ›

Differentiating the Five Common Business Process Outsourcing Models
  • Global Outsourcing. Most large firms with a wide range of services use this outsourcing model often. ...
  • Joint Venture Contract. ...
  • Project-Based Outsourcing. ...
  • Staff Leasing. ...
  • Offshoring.

What are the challenges that the BPO industry and its workers may face in the future? ›

Dealing with highly-demanding customers, tight budgets, crazy work hours and schedules, customer satisfaction are just some of the challenges faced by this industry.

Which is better IT or BPO? ›

There is a huge demand for computer engineers and, if you have the right skill-set, you should be able to find a well-paying job. It is not true that there are no career prospects in a BPO. However, the prospects are more business-focused.

Is BPO job is good for future? ›

The booming business process outsourcing industry is indeed a good career option for aspiring graduates and even for management students.

What is BPO interview questions? ›

General BPO Interview Questions
  • Tell us something about yourself?
  • What is a BPO?
  • What is your weakness and how are you improving it?
  • Where do you see yourself in 5 years?
  • Are you willing to work night shifts?
  • Why do you think this industry is right for you?
  • What are your salary expectations?

Is BPO private or government? ›

The BPO sector in the Philippines is the largest private employer in the country, generating about 1.3 million direct jobs in 2017.

What are the top 3 reasons that will make you apply for a BPO company? ›

Why choose a career in BPO:
  • BPO companies offer competitive salary packages and benefits. ...
  • BPO companies have great facilities for their people. ...
  • BPO companies are good in terms of work-life balance. ...
  • BPO companies offer career growth opportunities. ...
  • BPO companies accept applicants even without prior job experience.
20 May 2022

What is the impact of BPO to the country's economy? ›

BPO is a powerful force currently driving the Philippine economy. It has created a ripple effect in many aspects: Export growth: Philippine merchandise exports increased by 7.6%, amounting to $51.99 billion. Employment generation: As of 2012, there are 493,000 Filipinos employed in the contact industry.

What is risk in BPO? ›

BPO risks include the following: Security breaches. The technology connection between the hiring company and the BPO provider creates another point of entry for bad actors, as organizations often need to share sensitive and regulated data with their service providers. Regulatory compliance requirements.

What is the biggest challenge facing the BPO industry today? ›

The BPO industry sometimes faces unique challenges around communication, changing political situations, and shifting budgets. Key takeaways: BPO is a fast-growing industry that sometimes faces unique challenges. You may encounter cultural and language barriers when you hire a global team.

How many types of BPO are there? ›

BPO is often divided into two main types of services: back office and front office. Back-office services include internal business processes, such as billing or purchasing. Front-office services pertain to the contracting company's customers, such as marketing and tech support.

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