New York, August 30, 2022 /PRNewswire/ — “Business process outsourcing market – Forecast and Analysis 2021-2025 report has been added to Technavio’s products. Technavio is ISO 9001:2015 certified and proud to partner with over 100 Fortune 500 companies for over 16 years. The market share of business process outsourcing is US$40.16 billion From 2020 to 2025, the market growth momentum will accelerate rapidly. CAGR 4%. Technavio is expanding the business process outsourcing market to Global IT Consulting and Other Services MarketOur research report broadly covers the external factors that will influence the growth potential of the parent market in the coming years and will determine the level of growth of the Business Process Outsourcing market during the forecast period- For parent market analysis highlights – Get your free sample now!
Business Process Outsourcing Market – Key Market Dynamics:
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Market Driver – T.A key factor driving the growth of the business process outsourcing market is the focus on reducing operating costs. Operating costs refer to the costs of producing, maintaining, and regularly managing goods and services. BPO helps minimize operating costs and increase business efficiency. BPO includes service support for various business processes such as procurement, logistics and customer care. As such, organizations are beginning to outsource their business processes and operations in order to focus and improve their core business. Organizations need his BPO services to grow their market share, expand their customer base and improve customer relationships. Logistics BPO outsourcing companies are estimated to help reduce operating costs by up to 70%. A logistics company uses his third-party BPO provider to drive revenue growth, reduce costs and achieve operational efficiencies. This will have a positive impact on his BPO market in the world.
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Market Challenge – Data breaches will pose a major challenge to the business process outsourcing market during the forecast period. For businesses, data theft refers to the illegal transfer of confidential, financial, or personal data. Such data is typically stored on electronic devices such as servers and computers and includes unique process-oriented information, technology, software code and passwords. Data security and data privacy have always been key concerns for BPO companies. As technology advances and the use of internet services increases around the world, the security of customer data becomes more important. Data breaches pose a major challenge to the global BPO market. Data breaches can damage the reputation of individuals and organizations.
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Business Process Outsourcing Market-Segmentation Analysis
The Business Process Outsourcing Market report is segmented as follows: End-user (IT and Telecommunications, BFSI, Retail, Healthcare, and Others) and geography (North America, EuropeAPAC, MEA, and South America).
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Revenue generating segment – Business Process Outsourcing Market Share Growth IT/communication business important for revenue generation. The growth of this segment can be attributed to technological advancements, rapid growth in data traffic, and increasing consumer demand for digital content and communications. The telecom services industry is expected to witness steady growth with the advent of the 5G spectrum.
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Regional Highlights – 38% of market growth is North America during the forecast period. The United States is a major market for business process outsourcing. North AmericaThe market growth in this region will be slower than the market growth in South America, MEA, and APAC regions. Increasing adoption of advanced technologies such as cloud computing solutions, social media, AI, and RPA drive the growth of the business process outsourcing market. North America during the forecast period.
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Business Process Outsourcing Market-Vendor Analysis
The business process outsourcing market is fragmented Vendors are deploying organic and inorganic growth strategies to compete in the market.
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Competitive scenarios offered in Business Process Outsourcing Market Report Analyze, evaluate, and position companies based on various performance indicators. Factors considered in this analysis include the company’s financial performance, growth strategies, product innovations, new product launches, investments, and market share growth over the past few years. No need to wait. Take a Strategic Approach and Boost Your Business Goals with the Business Process Outsourcing Market Forecast Report – Buy now!
Related reports:
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Scope of the business process outsourcing market |
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report coverage |
detail |
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page number |
120 |
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base year |
2020 |
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Forecast period |
2021-2025 |
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Growth Momentum and CAGR |
Accelerate at 4% CAGR |
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Market growth 2021-2025 |
US$40.16 billion |
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market structure |
fragmented |
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YoY growth rate (%) |
3.53 |
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Regional analysis |
North America, Europe, APAC, MEA, and South America |
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Execution of market contribution |
North America 38% |
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Main consumption country |
USA, UK, Germany, China, Japan |
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competitive environment |
Scope of major companies, competitive strategies and consumer engagement |
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Company profiled |
Accenture Plc, Automatic Data Processing Inc., Capgemini SE, Infosys Ltd., International Business Machines Corp., NEC Corp., NTT DATA Corp., Tata Consultancy Services Ltd., Wipro Ltd., ZTE Corp. |
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market dynamics |
Parent market analysis, market growth drivers and impediments, fast and slow growth segment analysis, impact of COVID-19 and future consumer dynamics, and market landscape analysis for the forecast period. |
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Customization range |
If the data you’re looking for isn’t in the report, contact an analyst to customize the segment. |
Browse Technavio “Information technology marketresearch report
Main topics:
executive summary
market scenery
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market ecosystem
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Value chain analysis
Market size
Five force analysis
Market segmentation by end-user
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Market segment
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Comparison by end user
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IT and Telecommunications – Market Size and Forecast 2020-2025
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BFSI – Market size and forecast 2020-2025
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Retail – Market size and forecast 2020-2025
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Healthcare – Market size and forecast 2020-2025
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Others – Market size and forecast 2020-2025
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Market Opportunity by End User
Customer landscape
geographical landscape
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geographic segmentation
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Geographic comparison
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North America – Market size and forecast 2020-2025
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Europe – Market size and forecast 2020-2025
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APAC – Market size and forecast 2020-2025
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MEA – Market size and forecast 2020-2025
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South America – Market size and forecast 2020-2025
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Main country
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Market opportunities by region
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market driver
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market challenges
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Market trend
vendor landscape
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Overview
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landscape destruction
Vendor analysis
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Target vendor
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Vendor market positioning
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Accenture
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Automated Data Processing Co., Ltd.
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Capgemini SE
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Infosys, Inc.
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International Business Machines Corporation
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NEC Corporation
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NTT DATA Corporation
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Tata Consultancy Services Limited
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Wipro Corporation
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ZTE Corporation
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