Business Process Outsourcing Industry - Statistics and Analysis - Forecast Period 2023-2027
The business process outsourcing market has potential to grow at a projected CAGR of 6.5% during the forecast period 2022-2027 by Technavio data and research experts. This market research report also predicts the statistics about the market size growth that will grow by USD 75.89 billion. There are some major factors that directly affect the business process outsourcing market growth such as emphasis on declining costs involved in operations, rising number of BPOs, and the growing adoption rate of BPO by IT and telecom service providers.
The projected growth momentum is considered as incremental thus gives a positive outlook for the market as well as the respective investors. Consequently, such market conditions will further reinforce the position of vendors in the market. Government has taken various initiatives to enhance the services and it will further lead to more effective partnerships between clients and suppliers. It consequently brings better business innovation and more investment options for the market growth during 2023-2027, the forecast period.
Our researchers conclude predictions about some key market drivers via thorough data and information analysis. One such market driver is the growing adoption rate of BPO and it turns into one of the reasons for the business process outsourcing market growth. Although there are other factors such as language differences and the goodwill risk may affect the market growth negatively.
Additionally, there are some key vendors operating in the market, listed below:
- Accenture Plc
- Infosys Ltd.
- Deloitte Touche Tohmatsu Ltd.
- Concentrix Corp.
- Anderson Business Solutions Pvt. Ltd.
- Amdocs Ltd
- HCL Technologies Ltd.
- Alight Solutions LLC
- Automatic Data Processing Inc
- Cognizant Technology Solutions Corp.
The precisely illustrated statistical data consists of some key market information and analysis to get a better understanding of specific business requirement. Technavio, also has the subscription platform having an instant lifetime access to the 17,000+ market reports and the world-class market intelligence at customized plans and rates.
