Market Research Report
BPO Services Global Industry Almanac 2014-2023
|Published by||MarketLine||Product code||939369|
|Published||Content info||485 Pages
Delivery time: 1-2 business days
|BPO Services Global Industry Almanac 2014-2023|
|Published: May 26, 2020||Content info: 485 Pages||
Global BPO Services industry profile provides top-line qualitative and quantitative summary information including: market size (value 2014-18, and forecast to 2023). 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 revenues generated both from signed deals that remain under contract and the annual revenues associated with new contracts signed within a particular calendar year. The services include the outsourcing of functions such as customer relationship management, knowledge process outsourcing, finance & accounting, human resources, procurement, and vertical-specific processes. The total value of the market represents the demand for the service coming from a particular country.
CRM BPO services typically include consumer direct services, contact centre 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 2018 annual average exchange rates.
The global BPO services market had total revenues of $252.8bn in 2018, representing a compound annual growth rate (CAGR) of 3.2% between 2014 and 2018.
The BPO services market is positively correlated with technology, meaning its growth follows growth in the technology market of the country.
The US is by far the largest global market, larger than Europe and the entire Asia-Pacific region.