Business Process Outsourcing (BPO) Services Market analysis by Service Type, by Vertical


Posted December 6, 2017 by vilasmrf

Business Process Outsourcing Services Market, By Service Type (Finance & Accounting, Customer Services, Human Resource, KPO, Procurement) and By Vertical (BFSI, Healthcare, IT & Telecommunication, Manufacturing, Retail) - Forecast 2023

 
Business Process Outsourcing Services Market, By Service Type (Finance & Accounting, Customer Services, Human Resource, KPO, Procurement) and By Vertical (BFSI, Healthcare, IT & Telecommunication, Manufacturing, Retail) - Forecast 2023

Market Scenario:
Major giants like ADP, Accenture, Infosys, Wipro, TCS and Xerox are key players in the business process outsourcing services market due to increasing demand from various industry verticals like retail, healthcare, IT and telecommunication and BFSI among others. ADP is considered to be a leader in the outsourcing of business processes of payroll systems. Increasing adoption of business process outsourcing services in IT and telecommunication sector is one major factor fueling the growth of business process outsourcing services market. Business process outsourcing services is gaining importance owing to the increasing adoption in banking, finance and human resource services owing to the growing popularity of outsourcing of services.

North America region holds the largest market share of global Business Process Outsourcing Services Market followed by Europe and Asia Pacific regions. The growth is North America region is mainly dominated by U.S. and Canada and is attributed to the increasing demand from and in the region. The region also has a well-established infrastructure which allows implementation of advanced technologies. Increasing adoption of new technologies is compelling the organizations to focus on the core business operations and outsource the back office needs is one major factor responsible for driving the growth of business process outsourcing services market.

Business process outsourcing services market has been segmented on the basis of service type and vertical. The service type segment is further bifurcated into finance & accounting, customer services, human resource, KPO, procurement and others. Out of which, the finance and accounting segment is expected to hold the largest market share whereas, the human resource segment is expected to grow at the highest rate during the forecast period. This is owing to the increasing number of Business process outsourcing allows the organization to completely focus on the core business and outsourcing of other services also leads to improved productivity from the employees. Outsourcing of human resource management services also helps in relieving the employees from administrative overheads.

The global business process outsourcing services market is expected to grow at approx. USD 52 Billion by 2023, at 11% of CAGR between 2017 and 2023.

Request a Sample Report @ https://www.marketresearchfuture.com/sample_request/4451

Key Players:
The prominent players in business process outsourcing services market are – ADP, LLC. (U.S.), Xerox Corporation (U.S.), Accenture PLC (Ireland), Aon Hewitt (U.S.), Capgemini (France), Infosys BPO Ltd. (India), IBM Corporation (U.S.), Syntel, Inc. (U.S.), Tata Consultancy Services Limited (India), Wipro Limited (India) among others.

Segments:
Business process outsourcing services market can be segmented on the basis of following:
By Service Type
• Finance & Accounting
• Customer Services
• Human Resource
• KPO
• Procurement
• Others

By Vertical
• BFSI
• Healthcare
• Manufacturing
• IT & Telecommunication
• Retail
• Others


Regional Analysis:
The regional analysis of business process outsourcing services market is being studied for regions such as Asia Pacific, North America, Europe and Rest of the World. It has been observed that North America market is estimated to account for the largest share of the market, whereas Asia-Pacific market is projected to grow at the fastest rate during the forecast period. The major growth in business process outsourcing services market in North America market is attributed to technological advancements and increasing demand for business process outsourcing services across various industry verticals in that region.

Intended Audience
• Technology Investors
• Research/Consultancy Firms
• Government Bodies
• Consumers
• IT & Telecommunication Companies
• Software Providers
• Technology Providers
• Software Vendors

About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by Components, Application, Logistics and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

Contact:
Market Research Future
Office No. 524/528, Amanora Chambers
Magarpatta Road, Hadapsar
Pune - 411028
Maharashtra, India
+1 646 845 9312
Email: [email protected]
-- END ---
Share Facebook Twitter
Print Friendly and PDF DisclaimerReport Abuse
Contact Email [email protected]
Issued By Market Research Future
Phone +1 646 845 9312
Country India
Categories Technology
Tags business process outsourcing bpo services market , business process outsourcing bpo services market forecast , business process outsourcing bpo services market growth , business process outsourcing bpo services market share , business process outsourcing bpo services market size
Last Updated December 6, 2017