Dublin, Jan. 26, 2024 (GLOBE NEWSWIRE) -- The "Global Knowledge Process Outsourcing Market Size, Share & Trends Analysis Report by Service, Application (BFSI, Healthcare, IT & Telecom, Manufacturing, Pharmaceutical, Retail, Others), Region, and Segment Forecasts, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
Emerging Trends and Segment Analysis in the KPO Industry Highlight Opportunities in IT & Telecom and Healthcare
This report paints a comprehensive picture of the global Knowledge Process Outsourcing (KPO) industry, forecasting an unprecedented growth trajectory over the next seven years. A significant Compound Annual Growth Rate (CAGR) of 17% is expected from 2023 to 2030, as the industry size gears up to touch a remarkable USD 169.78 billion benchmark.
Fueled by the strategic reallocation of business processes to utilize resources competently and economically, the KPO market is witnessing a notable uptick, backed especially by the exponentially growing sectors of IT & Telecom and Healthcare. Tailored outsourcing of knowledge-intensive activities is key in freeing up internal capital, enabling enterprises to focus on core competencies and value-adding tasks.
Services and Application Insights Within the Knowledge Process Outsourcing Ecosystem
- The analytics & market research space claims a predominant market share, largely due to the ascent of data-driven decision-making and advanced analytics.
- With a forecasted CAGR of 20%, legal process outsourcing emerges as the fastest-evolving segment, credited for enhanced efficiency and cost optimization in legal functions.
- The BFSI sector, responsible for handling critical financial data, continues its dominance holding a 32.8% revenue share, showcasing the importance of KPO services for risk management, compliance, and customer data security.
In a market thronged with opportunities, the IT and telecom sector stands out, expected to expand fervently at a CAGR of 20.8%. This surge is attributed to the vast data influx within these industries, necessitating robust analytical tools and research-oriented initiatives to distill actionable insights.
Geographical Market Developments and the Rise of Latin America
Latin America marks itself as a dynamic contender in the KPO market, predicted to flourish at the fastest regional CAGR of 17.5%. This leap is primarily spurred by enterprises investing rigorously in research & development and analytics capabilities. Furthermore, the demand among businesses for strategic services in outcomes analysis, data mining, and process improvement remains intense across this vibrant terrain.
The constantly evolving landscape of engineering, particularly in design outsourcing, further posits the KPO industry on an upward growth curve, with the engineering and design segment claiming a significant market valuation of USD 5.53 billion.
This comprehensive report aims to serve as a beacon, illuminating the pivotal trends, segment analysis, and regional progress within the Knowledge Process Outsourcing market, charting a course for stakeholders to navigate the complexities and opportunities that lie ahead in this flourishing industry.
Key Attributes
| Report Attribute | Details |
| No. of Pages | 129 |
| Forecast Period | 2022-2030 |
| Estimated Market Value (USD) in 2022 | $48.92 Billion |
| Forecasted Market Value (USD) by 2030 | $169.78 Billion |
| Compound Annual Growth Rate | 17% |
| Regions Covered | Global |
Companies Mentioned
- Accenture
- Genpact
- HCL Technologies Limited
- ExlService Holdings, Inc.
- McKinsey & Company
- Moody's Investors Service, Inc.
- THOMSON REUTERS
- Mphasis
- R.R. Donnelley & Sons Company
- Wipro
For more information about this report visit https://www.researchandmarkets.com/r/654eom
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