Global BPO Services industry profile provides top-line qualitative and quantitative summary information including: market size (value 2012-16, and forecast to 2021). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Essential resource for top-line data and analysis covering the global bpo services market. Includes market size and segmentation data, textual and graphical analysis of market growth trends and leading companies.
- BPO services include the outsourcing of business-related processes to third-party organizations. The services include the outsourcing of functions such as customer relationship management, knowledge process outsourcing, finance & accounting, human resources, procurement, and vertical-specific processes.
- CRM BPO services typically include consumer direct services, contact center outsourcing (which includes customer care, sales and marketing, and technical product support), collection services, and claims & warranty services.
- Knowledge process outsourcing (KPO) services include research and analytics services such as competitive analysis, quantitative research & analytics, risk management & analytics, strategy & business development research, financial research, and legal process outsourcing (LPO).
- Finance & accounting BPO covers operations relating to financial support functions, such as accounts payable and receivable, general ledger, payment processing, invoice, purchase order management & processing, receipt & reconciliation, and management reporting.
- HR outsourcing services include benefits administration, payroll services, recruitment outsourcing, relocation and assignment services, workforce administration & development services / talent management, and performance management.
- Procurement BPO covers the outsourcing of key procurement processes including sourcing support and administration, contract management, demand management, supplier relationship management, and performance reporting.
- Vertical-specific BPO covers the outsourcing of services that require domain expertise. Vertical-specific BPO includes a range of processes such as insurance and annuities policy administration, claims and transaction processing, credit card analytics for banks and insurers, patient administration, medical coding, clinical research, and drug discovery & development for healthcare providers and pharmaceuticals.
- Any currency conversions used in the creation of this report have been calculated using constant 2016 annual average exchange rates.
- The global BPO Services market had total revenues of $140,316.1m in 2016, representing a compound annual growth rate (CAGR) of 4.4% between 2012 and 2016.
- There are some very large and highly developed players in the Asia-Pacific market and many companies are located in Asia for the ability to offer offshoring services on a big scale. The North American BPO services market is the largest globally due to the US BPO market, accounting for over 90% of the regional market in value terms. Within Europe the UK is by far the biggest market in value terms almost, 4 times the size of France which is the second largest.
- The performance of the market is forecast to decelerate, with an anticipated CAGR of 3.1% for the five-year period 2016 – 2021, which is expected to drive the market to a value of $163,764.0m by the end of 2021.
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