Business Process Outsourcing Market Worth
$405.6 Billion By 2027
The global business process outsourcing market size is anticipated to reach USD 405.6 billion in the year 2027. It is
anticipated to register growth with 8.0% CAGR during the forecasted period, 2020 to 2027. This growth can be
associated with the features like improved operational efficiency, flexibility and enhanced customer services.
The customer service held the largest share of around 30% across the global market due to their expertise in customer
query handling that are generated through emails, chats, phones and social media. Further, the finance & accounting
segment is also projected to expand at a significant growth rate due to the surging presence of several banking facilities
and the strict regulatory needs of the banking sector.
The BFSI segment held the largest share of more than 30% across the global market due to the rising focus of the
customers on services like real-time interactions, quick complaint resolution, and service expediency which have driven
several BFSI companies to outsource the activities of customer services. On the other hand, the IT and
telecommunications segment registered the second-largest growth rate with around 8.0% CAGR owing to the surging
number of IT companies across the globe.
Europe held the largest share of around 26.0% across the regional market due to skilled workforce availability and good
operational efficiency across countries of Europe. While, the Latin America is anticipated to register significant growth
with more than 6.0% CAGR from 2020 to 2027 owing to increasing growth across CPG and manufacturing industries
across this region.
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“The global business process outsourcing market size is anticipated to reach USD 405.6
billion in the year 2027. It is anticipated to register growth with