BFSI Business Process Outsourcing Market 2022-2028

Description

List of Tables

Global BFSI Business Process Outsourcing Market Size, Share & Trends Analysis Report by Service Type (Finance & Accounting, HR, KPO, Procurement, Customer Services, and Others), by Deployment Model (Cloud and On-Premises), and by Enterprise Size (Large Size Enterprises, and Small & Medium Size Enterprises) for the Forecast Period (2022-2028)

The global BFSI Business Process Outsourcing market is anticipated to grow at a substantial CAGR of 9.6 % during the forecast period. Due to increasing BPO transformation solutions across the region by players for their customers is supporting BFSI business process market growth over the forecast. For instance, in March 2021, Tech Mahindra and Celonis, a global execution management systems (EMS) firm announced an expanded global partnership with the launch of a frictionless contact center BPO transformation solution, new joint solutions for Business Process Outsourcing (BPO) transformation. As part of the partnership, Tech Mahindra has also established an internal Celonis Center of Excellence to boost the deployment of the Celonis' EMS with its customers alongside its own managed services offerings. The EMS helps companies across industries maximize execution capacity or the optimum level of performance they can achieve with available time and resources.

The global BFSI Business Process Outsourcing market is segmented based on the service type and enterprise size. Based on the service type, the market is sub-segmented into finance and accounting, HR, KPO, procurement, customer services, and others. Based on the deployment model, the market is bifurcated into the cloud and on-premises. Based on the enterprise size, the market is augmented into large size enterprises and small & medium-size enterprises. The finance and accounting segment is expected to hold a considerable share in the market. Finance and Accounting BPO services, including procure-to-pay, offer a range of capabilities that leverage best-in-class technologies and a comprehensive library of best practices. Moreover, it helps to reinvent the framework of the operations across finance and accounting to optimize business operations for growth, which is another factor propelling the growth of the market

Geographically market is segmented into North America, Europe, Asia Pacific, and the Rest of the World. The Asia Pacific region is expected to hold a considerable share in the market over the forecast. The rapid increase of customer service centers and call centers across the region is boosting the growth of the business process outsourcing market.

The major companies serving the global BFSI Business Process Outsourcing market include Accenture Plc, Capgemini SE, Genpact Ltd., Concentrix Corp., EXL Service, Firstsource Solutions Ltd., IBM Corp., Invensis, Intetics, NTT Data Corp., and others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in November 2018, BearingPoint announced that its RegTech product unit has formed a partnership with IBM Services for regulatory reporting. With their joint offering, the companies will help small and medium-sized financial institutions, which are struggling with the steadily increasing regulatory requirements. The joint offering allows financial institutions to outsource their regulatory reporting processes and covers both the business processes and technical operation as well as software maintenance and further development.

Research Methodology

The market study of the global BFSI Business Process Outsourcing market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to break down the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings authenticity to our reports.

Secondary Sources Include:

Financial reports of companies involved in the market.
Whitepapers, research papers, and news blogs.
Company websites and their product catalog.

The report provides an in-depth analysis of market size, the intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Global BFSI Business Process Outsourcing Market Research and Analysis by Service Type

2. Global BFSI Business Process Outsourcing Market Research and Analysis by Deployment Model

3. Global BFSI Business Process Outsourcing Market Research and Analysis by Enterprise Size

The Report Covers:

Comprehensive Research Methodology of the global BFSI Business Process Outsourcing market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the global BFSI Business Process Outsourcing market.
Insights about market determinants that are stimulating the global BFSI Business Process Outsourcing market.
Detailed and extensive market segments with the regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.

Product Code: OMR2026400

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Impact of COVID-19 on the Global BFSI Business Process Outsourcing Market
Recovery Scenario of Global BFSI Business Process Outsourcing Market
1.1. Research Methods and Tools
1.2. Market Breakdown
- 1.2.1. By Segments
- 1.2.2. BY Region

2. Market Overview and Insights

2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Findings
- 2.2.2. Recommendations
- 2.2.3. Conclusion

3. Competitive Landscape

3.1. Accenture Plc
- 3.1.1. Overview
- 3.1.2. Financial Analysis
- 3.1.3. SWOT Analysis
- 3.1.4. Recent Developments
3.2. Capgemini SE
- 3.2.1. Overview
- 3.2.2. Financial Analysis
- 3.2.3. SWOT Analysis
- 3.2.4. Recent Developments
3.3. Cognizant Technology Solutions Corp.
- 3.3.1. Overview
- 3.3.2. Financial Analysis
- 3.3.3. SWOT Analysis
- 3.3.4. Recent Developments
3.4. Genpact Ltd.
- 3.4.1. Overview
- 3.4.2. Financial Analysis
- 3.4.3. SWOT Analysis
- 3.4.4. Recent Developments
3.5. Infosys BPM Ltd.
- 3.5.1. Overview
- 3.5.2. Financial Analysis
- 3.5.3. SWOT Analysis
- 3.5.4. Recent Developments
3.6. Key Strategy Analysis
3.7. Impact of Covid-19 on Key Players

4. Market Segmentation

4.1. Global Bfsi Business Process Outsourcing Market by Service Type
- 4.1.1. Finance & Accounting
- 4.1.2. HR
- 4.1.3. KPO
- 4.1.4. Procurement
- 4.1.5. Customer Services
- 4.1.6. Others
4.2. Global Bfsi Business Process Outsourcing Market by Deployment Model
- 4.2.1. Cloud
- 4.2.2. On-Premises
4.3. Global BFSI Business Process Outsourcing Market by Enterprise Size
- 4.3.1. Large Size Enterprises
- 4.3.2. Small & Medium Size Enterprises

5. Regional Analysis

5.1. North America
- 5.1.1. United States
- 5.1.2. Canada
5.2. Europe
- 5.2.1. UK
- 5.2.2. Germany
- 5.2.3. Italy
- 5.2.4. Spain
- 5.2.5. France
- 5.2.6. Rest of Europe
5.3. Asia-Pacific
- 5.3.1. China
- 5.3.2. India
- 5.3.3. Japan
- 5.3.4. South Korea
- 5.3.5. Rest of Asia-Pacific
5.4. Rest of the World

6. Company Profiles

6.1. Acelerar Technologies
6.2. Automatic Data Processing, Inc.
6.3. Concentrix Corp.
6.4. EXL Service
6.5. Firstsource Solutions Ltd.
6.6. Helpware
6.7. IBM Corp.
6.8. Invensis
6.9. Intetics
6.10. Maxicus
6.11. Mphasis
6.12. NTT Data Corp.
6.13. Octopus Tech
6.14. Plaxonic Technologies
6.15. Premier BPO
6.16. SunTec India
6.17. Tata Consultancy Services Ltd
6.18. TAG Eservices Private Ltd.
6.19. Unity Communications
6.20. Vserve
6.21. Wipro Ltd.