Dublin, Jan. 29, 2024 (GLOBE NEWSWIRE) -- The "General and Administrative Outsourcing Market Report by Type, Application, and Region 2023-2028" report has been added to ResearchAndMarkets.com's offering.
This study projects the global general and administrative outsourcing market to reach a remarkable milestone of US$ 10.8 billion by 2028. With a compounded annual growth rate of 7.8% over the span of 2022 to 2028, the market is forecasted to experience significant expansion, largely driven by the rising demand for affordable labor markets and cost reduction in overhead expenses across diverse organizations.
General and Administrative Outsourcing—A Strategy for Core Focus and Cost Optimization
Enterprises today are harnessing general and administrative outsourcing to streamline their focus on core competencies, while leveraging the expertise and cost benefits offered by specialized service providers. Finance and Accounting Outsourcing (FAO) emerges as the largest market segment, signifying its critical role in the operational efficiency of businesses. The publication emphasizes this shift and its implications across diverse applications, with a spotlight on the burgeoning growth within the BFSI sector.
Emerging Trends and Market Dynamics
The analysis gives an in-depth look at the driving forces behind the market's growth, highlighting key trends such as advancement in technologies like robotic process automation, AI, and ML. Furthermore, the demand for standardized business processes, coupled with the strategic restructuring of enterprises, has bolstered the market landscape. Enabling scalability and bolstering customer experience through optimized administrative processes are among other factors contributing to the market's robust progress.
- Noteworthy market trends include the integration of cutting-edge technologies in business operations.
- Strategic restructuring and business process standardization propelling market demand.
- North America maintains its lead, with significant growth opportunities in the BFSI and healthcare sectors.
Global Reach and Regional Insights
The report spans across key global regions, revealing North America's dominance in the market. A closer look at regional insights displays an array of growth opportunities, showcasing the dynamic nature of the market across the United States, Asia Pacific nations, Europe, Latin America, and the Middle East and Africa. Both established and developing countries contribute to the vast landscape of general and administrative outsourcing, navigating through digital revolutions and the transformative era of Industry 4.0.
Competitive Landscape and Market Participants
An overview of the competitive landscape showcases an array of key industry players, with detailed profiles indicating the strategic positioning and innovative breakthroughs that these companies have achieved. Market leaders are identified based on their contributions towards streamlining G&A outsourcing processes, enhancing customer satisfaction, and bolstering scalability for businesses worldwide.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 146 |
| Forecast Period | 2022-2028 |
| Estimated Market Value (USD) in 2022 | $6.9 Billion |
| Forecasted Market Value (USD) by 2028 | $10.8 Billion |
| Compound Annual Growth Rate | 7.8% |
| Regions Covered | Global |
Companies Mentioned
- Accenture plc
- Aon plc
- Automatic Data Processing Inc.
- EXLServices Holdings Inc.
- Genpact
- GEP Worldwide
- HCL Technologies Limited
- Infosys Limited
- International Business Machines Corporation
- Kelly Services Inc.
- Wipro Limited
For more information about this report visit https://www.researchandmarkets.com/r/kickvb
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