Asia Pacific Business Process Outsourcing Market

Asia Pacific Business Process Outsourcing Market by Services (Procurement Outsourcing & Supply Chain, Knowledge Process Outsourcing, Human Resources, Finance & Accounting, and Customer Services), End-users (BFSI, Retail, Manufacturing, IT & Telecommunication, and Healthcare), and Regions (Asia Pacific [China, India, Japan, Singapore, Malaysia, Philippines, Indonesia, and Thailand]) - Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

  • Report ID: ICT-SE-429
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 1
  • No. Of Pages: 160
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The Asia Pacific business process outsourcing market was valued at USD 56.2 billion in 2020 and is projected to expand at a CAGR of 8.9% during the forecast period, 2021 – 2028. The growth of the market is attributed to the rising number of service delivery platforms and increasing demand for outsourcing BPO services in various application industries.

Business process outsourcing (BPO) in the BFSI industry addresses the issues in the industry by establishing data integrity and management and offers relevant, reliable, and timely data delivery to enhance the decision-making process. The back-office operations and management are the essential elements for any organization. Several transactional processes including application processing, collection and billing, and order fulfilment are leading toward huge accumulation of data. Effective back-office solutions are crucial to process the overall accumulated data.

Asia Pacific Business Process Outsourcing Market Key Takeaways

The market players are engaging in offering cost-effective and reliable services in several industries including manufacturing, healthcare, retail, IT and telecommunications, and BFSI. Several companies are incorporating BPO as a part of their business strategy to improve the profitability in the business.

The activities in an organization can be categorized as critical, core, and non-core activities. The critical activities need expertized skill set while the core activities are related to skills that provide a strategic benefit to the organization. On the other hand, non-core activities are the supportive activities, which mainly includes customer relationship management. The classification of these activities is crucial to ensure proper of supply resources properly and timely delivery of the services.

Several companies are proffering high prominence to the core activities for strong hold their existence in the market and to enlarge their customer base, which leads to the outsourcing of non-core activities. The companies that are involved in business process outsourcing can choose to outsource specific services or business functions depending on their individual needs, such as logistics, payroll, IT, and legal services. Some of the advantages of outsourcing includes elimination of labor costs and overheads arising from human resource and equipment.

Market Trends, Drivers, Restraints, and Opportunities:

  • Increasing adoption of Internet of Things (IoT) and increasing number of start-ups adopting BPO services are propelling the market growth.
  • Easy availability of low-cost talent pool in developing countries including China, India, and Philippines is contributing to the market growth.
  • Factors such as imposition of heavy tariffs, shortages of skills, and growing attrition rate in the BPO services industry can inhibit the market expansion during the forecast period.
  • Increasing adoption of augmented reality (AR) in businesses is anticipated to boost the market growth.
  • Several market players are implementing market trend-based strategies, which involve investing in big data analytics, automating back-end office work to improve productivity, and providing transparency in the services. This is anticipated to present numerous opportunities for the expansion of market.

Scope of the Report

The report on the Asia Pacific business process outsourcing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Asia Pacific Business Process Outsourcing Market - Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Services (Procurement Outsourcing & Supply Chain, Knowledge Process Outsourcing, Human Resources, Finance & Accounting, and Customer Services), End-users (BFSI, Retail, Manufacturing, IT & Telecommunication, and Healthcare)

Regional Scope

Asia Pacific (China, India, Japan, Singapore, Malaysia, Philippines, Indonesia, and Thailand )

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Wipro Limited, Infosys Limited, HCL Technologies, Capgemini, Amdocs, and Accenture


Asia Pacific Business Process Outsourcing Market Segment Insights:

Customer services segment to exhibit a high CAGR
Based on services, the market is classified as procurement outsourcing & supply chain, knowledge process outsourcing, human resources, finance & accounting, and customer services. The customer services segment is anticipated to exhibit a high CAGR owing to the increasing establishment of service centers that require offline and online technological support.

The finance and accounting segment is projected to account for a healthy growth rate during the forecast period due to the increasing deployment of strict regulations in banking sector. However, the human resources segment is expected to account for a sustainable CAGR owing to the rising requirement for services that can handle recruitment and relocation, administration, payment processing, and other employee benefit services.

BFSI segment is anticipated to account a large market share
On the basis of end-users, the market is divided into BFSI, retail, manufacturing, IT & telecommunication, and healthcare. The BFSI segment is anticipated to account a large market share and is speculated to exhibit a high CAGR owing to the easy accessibility of innovative adapted solutions that are intended to meet the existing digitization requirements and provide advanced value-added services.

The IT and telecommunication segment is projected to expand at a CAGR of 5.1% during the analysis period owing to the rising development in the IT sector and rapid industrialization in Asia Pacific. Rising adoption of telecommunication outsourcing services to eliminate the hefty bill is propelling the segment growth.

Asia Pacific Business Process Outsourcing Market By End User

China and India are anticipated to dominate the market
In terms of regions, the Asia Pacific business process outsourcing market is categorized China, India, Japan, Singapore, Malaysia, Philippines, Indonesia, and Thailand. China and India are anticipated to dominate the market, whereas the business process outsourcing market in china is expected to expand at a CAGR of 9.1% in coming years owing to the rising investment by government in the BPO industry and BPO centric education.

The BPO companies in India are enlarging their existence in Tier 2 and Tier 3 cities and are not just limiting to call centers or contact centers services but are shifting toward acquiring a high-end knowledge and are providing numerous services including financing and accounting. Moreover, growing support from government is expected to boost the BPO market in India. For instance, the Indian BPO promotion scheme (IBPS) under the Digital India Program is focused on establishing new job opportunities for the development of skilled workforce in the BPO industry.

 Asia Pacific Business Process Outsourcing Market By Regions

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Asia Pacific Business Process Outsourcing Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Asia Pacific Business Process Outsourcing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Asia Pacific Business Process Outsourcing Market - Supply Chain
  4.5. Global Asia Pacific Business Process Outsourcing Market Forecast
     4.5.1. Asia Pacific Business Process Outsourcing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Asia Pacific Business Process Outsourcing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Asia Pacific Business Process Outsourcing Market Absolute $ Opportunity
5. Global Asia Pacific Business Process Outsourcing Market Analysis and Forecast by End Users
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by End Users
     5.2.2. Y-o-Y Growth Projections by End Users
  5.3. Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     5.3.1. BFSI
     5.3.2. Retail
     5.3.3. Manufacturing
     5.3.4. IT & Telecommunication
     5.3.5. Healthcare
  5.4. Absolute $ Opportunity Assessment by End Users
  5.5. Market Attractiveness/Growth Potential Analysis by End Users
6. Global Asia Pacific Business Process Outsourcing Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
7. North America Asia Pacific Business Process Outsourcing Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     7.4.1. BFSI
     7.4.2. Retail
     7.4.3. Manufacturing
     7.4.4. IT & Telecommunication
     7.4.5. Healthcare
  7.5. Basis Point Share (BPS) Analysis by End Users
  7.6. Y-o-Y Growth Projections by End Users
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
8. Latin America Asia Pacific Business Process Outsourcing Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     8.4.1. BFSI
     8.4.2. Retail
     8.4.3. Manufacturing
     8.4.4. IT & Telecommunication
     8.4.5. Healthcare
  8.5. Basis Point Share (BPS) Analysis by End Users
  8.6. Y-o-Y Growth Projections by End Users
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
9. Europe Asia Pacific Business Process Outsourcing Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     9.4.1. BFSI
     9.4.2. Retail
     9.4.3. Manufacturing
     9.4.4. IT & Telecommunication
     9.4.5. Healthcare
  9.5. Basis Point Share (BPS) Analysis by End Users
  9.6. Y-o-Y Growth Projections by End Users
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
10. Asia Pacific Asia Pacific Business Process Outsourcing Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     10.4.1. BFSI
     10.4.2. Retail
     10.4.3. Manufacturing
     10.4.4. IT & Telecommunication
     10.4.5. Healthcare
  10.5. Basis Point Share (BPS) Analysis by End Users
  10.6. Y-o-Y Growth Projections by End Users
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
11. Middle East & Africa Asia Pacific Business Process Outsourcing Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Asia Pacific Business Process Outsourcing Market Size and Volume Forecast by End Users
     11.4.1. BFSI
     11.4.2. Retail
     11.4.3. Manufacturing
     11.4.4. IT & Telecommunication
     11.4.5. Healthcare
  11.5. Basis Point Share (BPS) Analysis by End Users
  11.6. Y-o-Y Growth Projections by End Users
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Asia Pacific Business Process Outsourcing Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Asia Pacific Business Process Outsourcing Market: Market Share Analysis
  12.2. Asia Pacific Business Process Outsourcing Distributors and Customers
  12.3. Asia Pacific Business Process Outsourcing Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Wipro Limited
     12.4.2. Infosys Limited
     12.4.3. HCL Technologies
     12.4.4. Capgemini
     12.4.5. Amdocs
     12.4.6. Accenture
Segments Covered in the Report
The Asia Pacific business process outsourcing market has been segmented based on

Services
  • Procurement Outsourcing & Supply Chain
  • Knowledge Process Outsourcing
  • Human Resources
  • Finance & Accounting
  • Customer Services
End-users
  • BFSI
  • Retail
  • Manufacturing
  • IT & Telecommunication
  • Healthcare
Regions
  • Asia Pacific
  • China
  • India
  • Japan
  • Singapore
  • Malaysia
  • Philippines
  • Indonesia
  • Thailand
Key Players
  • Wipro Limited
  • Infosys Limited
  • HCL Technologies
  • Capgemini
  • Amdocs
  • Accenture

Some major participants competing in the Asia Pacific business process outsourcing market include Wipro Limited, Infosys Limited, HCL Technologies, Capgemini, Amdocs, and Accenture.

These leading market players are using strategies including mergers, acquisition, new launches, and product development to build their leverage market position. R&D and production innovation are the key strategies contributing to the growth of the industry. Several companies are focusing on establishing new BPO centers over the world to enhance their market existence and increase their customer base.

For instance, Capgemini, one of the leading players in the BPO industry, is providing various BPO services including business analytics, supply chain and procurement, and financial services, among others. The company’s business process outsourcing (BPO) has collaborated with some of the world’s largest multinational corporations to renovate their business processes in the area of human resources, supply change management, finance and accounting, and procurement, which is consistently bringing new levels of productivity and accelerating business outcomes.

Asia Pacific Business Process Outsourcing Market By Key Players

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