Dublin, Oct. 20, 2023 (GLOBE NEWSWIRE) -- The "BFSI BPO Service Market: Trends, Opportunities and Competitive Analysis 2023-2028" report has been added to ResearchAndMarkets.com's offering.
The global BFSI BPO service market is expected to reach an estimated $147.9 billion by 2028 with a CAGR of 9.1% from 2023 to 2028.
The future of the global BFSI BPO service market looks promising with opportunities in the bank, capital market, and insurance company sectors. The major drivers for this market are growing demand for cloud based and mobile-enabled BPO services, rising popularity of digital banking, and increasing adoption of robotics process automation in the banking industry to automate routine and predictable processes.
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain.
With these strategies, BFSI BPO service companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base.
Banks will remain the largest segment due to the tremendous use of BPO by the banking and financial sectors to improve operations, deliver greater value to clients, and free up more labor and resources for essential duties
North America will remain the largest region over the forecast period due to significant demand for online banking services and increasing adoption of cloud-computing among BPO firms in the region
Features of the Global BFSI BPO Service Market
- Market Size Estimates: BFSI BPO service market size estimation in terms of value ($B)
- Trend and Forecast Analysis: Market trends (2017 to 2022) and forecast (2023 to 2028) by various segments and regions
- Segmentation Analysis: BFSI BPO service market size by various segments, such as by service, end use industry, and region in terms of value ($B)
- Regional Analysis: BFSI BPO service market breakdown by North America, Europe, Asia Pacific, and Rest of the World
- Growth Opportunities: Analysis of growth opportunities in different service, end use industry, and regions for the BFSI BPO service market
- Strategic Analysis: This includes M&A, new product development, and competitive landscape of the BFSI BPO service market
- Analysis of competitive intensity of the industry based on Porter's Five Forces model
List of BFSI BPO Service Companies
- Accenture
- Cognizant
- Concentrix Corporation
- Genpact
- Infosys Limited
- Mphasis
- NTT Data
BFSI BPO Service Market by Segment
BFSI BPO Service Market by Service (Shipment Analysis by Value from 2017 to 2028):
- Customer Service
- Finance and Accounting
- Human Resource
- KPO
- Procurement and Supply Chain
- Others
BFSI BPO Service Market by End Use Industry (Shipment Analysis by Value from 2017 to 2028):
- Banks
- Capital Markets
- Insurance Companies
- Others
BFSI BPO Service Market by Region (Shipment Analysis by Value from 2017 to 2028):
- North America
- Europe
- Asia Pacific
- The Rest of the World
Key Topics Covered:
1. Executive Summary
2. Global BFSI BPO Service Market: Market Dynamics
2.1. Introduction, Background, and Classifications
2.2. Supply Chain
2.3. Industry Drivers and Challenges
3. Market Trends and Forecast Analysis from 2017 to 2028
3.1. Macroeconomic Trends (2017-2022) and Forecast (2023-2028)
3.2. Global BFSI BPO Service Market Trends (2017-2022) and Forecast (2023-2028)
3.3. Global BFSI BPO Service Market by Service
3.3.1. Customer Service
3.3.2. Finance and Accounting
3.3.3. Human Resource
3.3.4. KPO
3.3.5. Procurement and Supply Chain
3.4. Global BFSI BPO Service Market by End Use Industry
3.4.1. Banks
3.4.2. Capital Markets
3.4.3. Insurance Companies
3.4.4. Others
4. Market Trends and Forecast Analysis by Region from 2017 to 2028
4.1. Global BFSI BPO Service Market by Region
4.2. North American BFSI BPO Service Market
4.3. European BFSI BPO Service Market
4.4. APAC BFSI BPO Service Market
4.5. ROW BFSI BPO Service Market
5. Competitor Analysis
5.1. Product Portfolio Analysis
5.2. Operational Integration
5.3. Porter's Five Forces Analysis
6. Growth Opportunities and Strategic Analysis
6.1. Growth Opportunity Analysis
6.1.1. Growth Opportunities for the Global BFSI BPO Service Market by Service
6.1.2. Growth Opportunities for the Global BFSI BPO Service Market by End Use Industry
6.1.3. Growth Opportunities for the Global BFSI BPO Service Market by Region
6.2. Emerging Trends in the Global BFSI BPO Service Market
6.3. Strategic Analysis
6.3.1. New Product Development
6.3.2. Capacity Expansion of the Global BFSI BPO Service Market
6.3.3. Mergers, Acquisitions, and Joint Ventures in the Global BFSI BPO Service Market
6.3.4. Certification and Licensing
7. Company Profiles of Leading Players
7.1. Accenture
7.2. Cognizant
7.3. Concentrix
7.4. Genpact
7.5. Infosys
7.6. Mphasis
7.7. NTT Data
For more information about this report visit https://www.researchandmarkets.com/r/li0hpy
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