Latest News- IT Business Process Outsourcing (BPO) Market: IT related BPO is expected to lead the Type segment during 2025-2029

The IT Business Process Outsourcing (BPO) Market is being driven by Need to focus on core competencies and improve efficiency

The IT Business Process Outsourcing (BPO) Market is expected to grow at a CAGR of 9% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 340.5 billion. Business Process Outsourcing (BPO), specifically call centers, has long been a strategic solution for organizations aiming to optimize processes, enhance customer experience, and achieve operational efficiencies while reducing costs. Traditionally, countries like India and the Philippines have been preferred destinations due to their lower operating expenses. However, challenges such as rising wage inflation, high attrition rates, quality concerns, and complexities of remote management have led companies to explore emerging markets. These markets, including Brazil, Colombia, Kenya, Egypt, and Malaysia, offer competitive advantages and the potential to mitigate risks. Government initiatives, such as those in Kenya, which support employment and infrastructure development, play a significant role in attracting BPO investments. By diversifying their presence, businesses can gain a competitive edge and address the evolving needs of their customers and stakeholders. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • IT related BPO
  • Contact centers BPO
  • Others
• Deployment
  • Cloud-based
  • On-premises
• Sector
  • Large enterprises
  • Small and medium enterprises (SMEs)
• Geography
  • North America
    • Canada
    • US
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
  • APAC
    • China
    • India
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Need to focus on core competencies and improve efficiency
• Growing digital transformation in organizations
• Increased adoption of software-defined infrastructure

However, the market also witnesses some limitations, which are as follows:

• Data privacy and security risks in cloud-based services
• Managing multi-companies in IT BPO
• Limitations of outsourcing call center operations

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Market Scope in IT Business Process Outsourcing (BPO) Market Research Report

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Research Analysis Overview

The IT Business Process Outsourcing (BPO) market encompasses various services including shared services, global business services, onshore, nearshore, and offshore outsourcing. Key functions involve talent acquisition and employee training, vendor management and contract negotiation, performance management, client management, and change management. Additionally, IT BPO offers supply chain management, financial management, HR services, and employee engagement/satisfaction solutions. Other areas include workforce planning, succession planning, diversity and inclusion, talent development, and performance reviews. Furthermore, IT BPO provides compensation and benefits administration, employee relations, compliance management, risk mitigation, disaster recovery, business continuity, IT governance, IT security, data governance, and information security management.

Market Research Overview

The IT business process outsourcing (BPO) market is a significant segment of the larger global IT services market, which encompasses organizations providing IT consulting and system integration, application, electronic data processing, business process outsourcing, infrastructure, and Internet services. According to Technavio, the global IT consulting and other services market size is determined by the consolidated revenue generated by firms offering all types of IT consulting and information management services. This figure incorporates annual revenues derived from executed IT service contracts. Key drivers fueling the expansion of the global IT consulting and other services market include escalating government investments in modern IT infrastructure, as numerous governments face a shortage of IT expertise among their workforce.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
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