[ad_1]
NEW YORK, Sept. 27, 2022 /PRNewswire/ — The global business process outsourcing market size is expected to grow by USD 40.16 billionaccelerating at a CAGR of 4% between 2020 and 2025. Technavio has tracked the recent trends and developments in the IT consulting and other services industry. Some of the factors including the number of major IT consulting deals signed worldwide, revenue generated by service providers offering IT consulting services, IT budgets allocated by central and state governments across major markets, and others are considered in estimating the size of the market.
Buy Full Report Now for a comprehensive analysis of the global business process outsourcing market.
The market is driven by the focus on reducing operational costs. Setting up an in-house BPO team requires significant capital investment. It requires an extra workforce, infrastructure, and training for new employees. Hence, many organizations outsource their business processes and operations to focus on their core business. This helps them minimize operations costs and improve overall efficiency. It is estimated that BPO services can yield between 30%-50% cost saving on operating costs for a company. Thus helping organizations save a substantial amount of money and time when outsourcing business processes. All these factors are driving the growth of the global business process outsourcing market.
In addition, the rising emphasis on process automation is anticipated to further boost the growth of the business process outsourcing market. However, the risk of data breaches might reduce the growth potential in the market.
Identify other drivers, trends, and challenges that are influencing the market growth. Download PDF Report Sample
Major Business Process Outsourcing Companies:
- Accenture Plc: The company offers intelligent finance operations, marketing solutions, and other services. The services are availed by SynOps. It helps create a data-driven operating model that connects intelligent technologies, talent, and data and analytics to provide real-time, actionable insights.
- Automatic Data Processing Inc.: The company offers payroll outsourcing, small business payroll, and other services.
- Capgemini SE: The company offers supply chain management solutions. It includes a range of services integrating supply chain master data with planning, execution, and analytics. It offers finance and accounting solutions and other services.
- Infosys Ltd.: The company offers data analytics solutions.
- International Business Machines Corp.: The company offers procurement and sourcing services, financial transformation services, and other services.
- NEC Corp.
- NTT DATA Corp.
- Tata…
Full story available on Benzinga.com
[ad_2]
Source link
