Dallas, Texas, Oct. 20, 2022 (GLOBE NEWSWIRE) -- The global business process outsourcing and information technology outsourcing market is expected to reach close to $245.9 Billion in 2022 with an annualized growth rate of 8.5% to reach over USD 503.6 billion in 2029.
Business process outsourcing (BPO) services are used by a variety of organizations, including IT, finance and accounting, e-commerce and support, back office processes, procurement, human resources, and recruitment processes, with the help of third-party providers. Businesses are looking to third-party service providers (BPOs) to help them increase operational efficiency and remain competitive in the market. In order to provide customers with comprehensive BPO services, most companies in the market invest heavily in developing advanced technologies such as big data, analytics, cloud computing, and artificial intelligence.
Request for a sample report here: https://www.adroitmarketresearch.com/contacts/request-sample/3559
The industry is anticipated to see a considerable call for IT operations to enable businesses to the consciousness of middle tasks and reduce working prices. Extended vigilance over records safety and customer cognizance in initiatives, in particular inside the aerospace and defense and BFSI sectors, has extended the call for IT service outsourcing. The marketplace is also developing due to the ever-growing call for consulting-related tasks. The growing need for knowledge in developing and streamlining IT strategies, enterprise architecture consulting, portfolio consulting and ensuring an effective and smooth digital transformation continues to drive growth in the industry.
Business Process Outsourcing and Information Technology Outsourcing Market Scope:
| Metrics | Details |
| Base Year | 2021 |
| Historic Data | 2019-2020 |
| Forecast Period | 2022-2029 |
| Study Period | 2018-2028 |
| Forecast Unit | Value (USD) |
| Revenue forecast in 2029 | USD 503.6 billion |
| By Product Type | IT Outsourcing, Finance, and Accounting Outsourcing, Back Office Outsourcing, E-Commerce Support Services |
| By End-User | BFSI, IT and Telecommunications, Healthcare, Life Sciences |
| Key Players Profiled | ADP, Conduent Inc, Accenture PLC, WNS (Holdings), Capgemini, and Infosys BPM |
Data confidentiality and morality is the major challenge of the business process outsourcing services market forecast. Numerous key groups in the enterprise, have implemented multi-sourcing fashions. But, these models can be tough to implement because the agency has to coordinate with the suppliers constantly.
The emergence of new technologies has increased market opportunities for business process outsourcing services and information technology outsourcing services. Additionally, finance, banking, and insurance companies bring high demand for BPO services.
Ask our Expert if You Have a Query at: https://www.adroitmarketresearch.com/contacts/enquiry-before-buying/3559
The global business process outsourcing services and information technology outsourcing services market is fragmented into the industry, organization size, deployment, and type. On the basis of industry, the market is segmented into manufacturing, healthcare, and life sciences, IT & Telecommunications, retail & consumer goods, and others. In terms of organization size, the industry is fragmented into small and medium-sized enterprises and large enterprises. On considering deployment, the market is classified into cloud and on-premise. In terms of type, the industry is segmented into training & development outsourcing, finance & accounting outsourcing, back office outsourcing.
In terms of geographic dominance, APAC held the largest market share. The key influencing forces such are rising prices of products and services, accelerated digital transformation, shortage of talent, revolution in big data and IoT, growing need of cyber security, VR and AR being increasingly used, increasing interest of green IT solutions, evolving business models, geopolitical instability are driving the global BPO and ITO services market in APAC. It is a Verify Payee (“CoP”) system solution that helps detect fraud and validate and protect the entire payment process.
Table of content for BPO and ITO Services Market :
1. Introduction
2. Research Methodology
3. Market Outlook
4. BPO and ITO Services Market by Type, 2019-2029 (USD Billion)
5. BPO and ITO Services Market by End-user, 2019-2029 (USD Billion)
6. BPO and ITO Services Market by Region, 2019-2029 (USD Billion)
North America
US
Canada
Europe
UK
Germany
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia Pacific
South America
Brazil
Mexico
Rest of South America
Middle East & Africa
7. Competitive Landscape
8. Company Profile
9. Appendix
Direct Purchase Report @ https://www.adroitmarketresearch.com/researchreport/purchase/3559
About Us:
Adroit Market Research is a global business analytics and consulting company incorporated in 2018. Our target audience is a wide range of corporations, manufacturing companies, product/technology development institutions and industry associations that require understanding of a market’s size, key trends, participants and future outlook of an industry. We intend to become our clients’ knowledge partner and provide them with valuable market insights to help create opportunities that increase their revenues. We follow a code– Explore, Learn and Transform. At our core, we are curious people who love to identify and understand industry patterns, create an insightful study around our findings and churn out money-making roadmaps.
Contact Us:
Ryan Johnson
Account Manager - Global
3131 McKinney Ave Ste 600
Dallas, TX 75204
Email ID: sales@adroitmarketresearch.com
Phone No.: +1-9726644514, +91-9665341414
Connect with us: Facebook | Twitter | LinkedIn
