ITO and BPO IT Outsourcing Market

ITO and BPO IT Outsourcing Market by Types (IT Outsourcing, Finance and Accounting Outsourcing, Back-office outsourcing, E-commerce support services, Training and Development Outsourcing, and Others), Verticals (BFSI, IT, Retail and Consumer Goods, Manufacturing, Life Sciences, and Defense), End-users (Government, Telecommunications, Healthcare, and Others), and Regions (North America, Europe, Asia Pacific, Middle East & Africa, and Latin America) and Forecast, 2021-2028

  • Report ID: ICT-SE-3114
  • Author: Growth Market Reports
  • Rating: 4.8
  • Total Reviews: 2
  • No. Of Pages: 210
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The global ITO and BPO IT outsourcing market is anticipated to expand at a substantial CAGR during the forecast period, 2021-2028. The practice of contracting out various business-related operations to third-party suppliers is known as business process outsourcing (BPO). Although BPO was formerly exclusively useful to manufacturing firms, such as soft drink manufacturers, who outsourced significant portions of their supply chains; however, it now applies to service outsourcing. Third-party providers provide various organizations business process outsourcing (BPO) services such as IT, finance & accounting, back-office process, e-commerce and support, procurement, and human resource & recruitment process. Data confidentiality and integrity are integral part of outsourcing.


ITO and BPO IT Outsourcing Market summary

The COVID-19 pandemic has caused unprecedented economic turbulence throughout the world. As part of the cost-cutting measures, global corporations are expected to reduce their IT expenditure. Enterprises' strict steps to restrict discretionary expenditure are expected to have an impact on the conversion of new transactions in the pipeline, the assignment of new contracts, and the postponement of contract renewals. Existing projects, on the other hand, are likely to see a drop of billable staff, influencing pricing discussions.

Market Trends, Drivers, Restraints and Opportunities

  • The primary growth drivers of the market are cost reduction and requirement for enhanced efficiency.
  • Rising use of technology such as cloud computing and analytics, as well as the modernization of ICT infrastructure, is propelling the market growth.
  • Rising demand for BPO services from BFSI, healthcare, and manufacturing as a result of IT businesses and global industrialization are driving the growth of the market.
  • Inadequate frameworks to ensure service quality, which restrict the use of technology, can create challenges for the market.
  • Growing awareness of benefits of BPO including increased cost efficiency, innovative tailored solutions, and value-added services is boosting the market growth.

Scope of the report

The report on ITO and BPO IT outsourcing market includes an assessment of the market, size, share, trends, segments, and regional markets. Overview and dynamics have been included in the report.

Attributes

Details

Report Title

ITO and BPO IT Outsourcing Market - Global Industry Analysis, Size, Share, Growth, Trends And Forecast

Base Year

2020

Historic Data

2018 & 2019

Forecast Period

2021–2028

Segmentation

Types (IT Outsourcing, Finance and Accounting Outsourcing, Back-office outsourcing, E-commerce support services, Training and Development Outsourcing, and Others), Verticals (BFSI, IT, Retail and Consumer Goods, Manufacturing, Life Sciences, and Defense), End-users (Government, Telecommunications, Healthcare, and Others)

Regional Scope

Asia Pacific, North America, Europe, Latin America, and Middle East & Africa

Report Coverage

Market scope, analysis, share, competitive analysis, growth facts, restraints, opportunities, and revenue forecast

Key Players Covered in the Report

ADP, LLC, Conduent Inc., Accenture PLC, WNS (Holdings) Ltd, Capgemini, Infosys BPM Limited, IBM Corporation, Tata Consultancy Services Limited (TCS), TTEC Holdings, Inc., and Conneqt Business Solution Limited

ITO and BPO IT Outsourcing Market Insights

IT outsourcing segment to register a robust CAGR

Based on types, the market can be fragmented into IT outsourcing, finance and accounting outsourcing, back-office outsourcing, e-commerce support services, training and development outsourcing, and others. In fiscal 2020, the IT sourcing segment accounted for over 85% of the market share. The segment's significant share is due to increased demand for infrastructure services and cloud service outsourcing.


ITO and BPO IT Outsourcing Market types

BFSI segment to exhibit a substantial growth rate during the forecast period

On the basis of verticals, the market can be divided into BFSI, IT, retail and consumer goods, manufacturing, life sciences, and defense. The BFSI segment accounted for over 55% of revenue share. Government state bodies objective of achieving a cashless economy through digital banking and fintech technology has aided the BFSI segment growth.


ITO and BPO IT Outsourcing Market verticals

Government segment is projected to hold a significant market share

On the basis of end-users, the market can be segmented into government, telecommunications, healthcare, and others. The government segment held 30% of the market and is seeking to outsource IT activities in order to cut IT department costs in government offices. The government's efforts to improve urbanization and increase demand from various industrial verticals are driving the segment growth. Between FY 2020 and FY 2025, the healthcare segment is estimated to expand at a CAGR of 12% during the forecast period. The healthcare industry is undergoing a digital revolution, which can result in a surge in demand for technology-enabled products and services such as telehealth, telemedicine, healthcare analytics, and electronic health records (EHR).


ITO and BPO IT Outsourcing Market end-users

North America to account a large market share

On the basis of region, the market can be classified into North America, Europe, Asia Pacific, Middle East & Africa and Latin America. North America constituted a large market share in 2020. The presence of large tech corporations and start-ups in the region is primarily responsible for the growth. In order to deliver complete BPO services to their clients, companies in the area are substantially investing in the development of sophisticated technologies such as analytics, big data, cloud computing, and Artificial Intelligence (AI). On the other hand, the market in Asia Pacific market is developing at a high growth rate owing t presence of large BPO services in nations such as China and India.


ITO and BPO IT Outsourcing Market region

Segments

Segments covered in the report
By Types

  • IT outsourcing
  • Finance and accounting outsourcing
  • Back-office outsourcing
  • E-commerce support services
  • Training and development outsourcing
  • Others

By Verticals

  • BFSI
  • IT
  • Retail and consumer goods
  • Manufacturing
  • Life sciences
  • Defense

By End-users

  • Government
  • Telecommunications
  • Healthcare
  • Other

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

By Key Players

  • ADP, LLC
  • Conduent Inc
  • Accenture PLC
  • WNS (Holdings) Ltd
  • Capgemini
  • Infosys BPM Limited
  • IBM Corporation
  • Tata Consultancy Services Limited (TCS)
  • TTEC Holdings, Inc.
  • Conneqt Business Solution Limited

 

Competitive Landscape

Key players of this market are ADP, LLC, Conduent Inc., Accenture PLC, WNS (Holdings) Ltd, Capgemini, Infosys BPM Limited, IBM Corporation, Tata Consultancy Services Limited (TCS), TTEC Holdings, Inc., and Conneqt Business Solution Limited, among others.

ITO and BPO IT Outsourcing Market keyplayers

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. ITO and BPO IT 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. ITO and BPO IT Outsourcing Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. ITO and BPO IT Outsourcing Market - Supply Chain
  4.5. Global ITO and BPO IT Outsourcing Market Forecast
     4.5.1. ITO and BPO IT Outsourcing Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. ITO and BPO IT Outsourcing Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. ITO and BPO IT Outsourcing Market Absolute $ Opportunity
5. Global ITO and BPO IT Outsourcing Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     5.3.1. IT outsourcing
     5.3.2. Finance and accounting outsourcing
     5.3.3. Back-office outsourcing
     5.3.4. E-commerce support services
     5.3.5. Training and development outsourcing
     5.3.6. Others
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global ITO and BPO IT 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. ITO and BPO IT 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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
7. North America ITO and BPO IT 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 ITO and BPO IT 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 ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     7.4.1. IT outsourcing
     7.4.2. Finance and accounting outsourcing
     7.4.3. Back-office outsourcing
     7.4.4. E-commerce support services
     7.4.5. Training and development outsourcing
     7.4.6. Others
  7.5. Basis Point Share (BPS) Analysis by Types
  7.6. Y-o-Y Growth Projections by Types
  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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
8. Latin America ITO and BPO IT 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 ITO and BPO IT 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 ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     8.4.1. IT outsourcing
     8.4.2. Finance and accounting outsourcing
     8.4.3. Back-office outsourcing
     8.4.4. E-commerce support services
     8.4.5. Training and development outsourcing
     8.4.6. Others
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
9. Europe ITO and BPO IT 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 ITO and BPO IT 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 ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     9.4.1. IT outsourcing
     9.4.2. Finance and accounting outsourcing
     9.4.3. Back-office outsourcing
     9.4.4. E-commerce support services
     9.4.5. Training and development outsourcing
     9.4.6. Others
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
10. Asia Pacific ITO and BPO IT 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 ITO and BPO IT 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 ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     10.4.1. IT outsourcing
     10.4.2. Finance and accounting outsourcing
     10.4.3. Back-office outsourcing
     10.4.4. E-commerce support services
     10.4.5. Training and development outsourcing
     10.4.6. Others
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
11. Middle East & Africa ITO and BPO IT 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 ITO and BPO IT 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 ITO and BPO IT Outsourcing Market Size and Volume Forecast by Types
     11.4.1. IT outsourcing
     11.4.2. Finance and accounting outsourcing
     11.4.3. Back-office outsourcing
     11.4.4. E-commerce support services
     11.4.5. Training and development outsourcing
     11.4.6. Others
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  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 ITO and BPO IT Outsourcing Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global ITO and BPO IT Outsourcing Market: Market Share Analysis
  12.2. ITO and BPO IT Outsourcing Distributors and Customers
  12.3. ITO and BPO IT Outsourcing Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. ADP, LLC
     12.4.2. Conduent Inc
     12.4.3. Accenture PLC
     12.4.4. WNS (Holdings) Ltd
     12.4.5. Capgemini
     12.4.6. Infosys BPM Limited
     12.4.7. IBM Corporation
     12.4.8. Tata Consultancy Services Limited

Segments covered in the report
By Types

  • IT outsourcing
  • Finance and accounting outsourcing
  • Back-office outsourcing
  • E-commerce support services
  • Training and development outsourcing
  • Others

By Verticals

  • BFSI
  • IT
  • Retail and consumer goods
  • Manufacturing
  • Life sciences
  • Defense

By End-users

  • Government
  • Telecommunications
  • Healthcare
  • Other

By Regions

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

By Key Players

  • ADP, LLC
  • Conduent Inc
  • Accenture PLC
  • WNS (Holdings) Ltd
  • Capgemini
  • Infosys BPM Limited
  • IBM Corporation
  • Tata Consultancy Services Limited (TCS)
  • TTEC Holdings, Inc.
  • Conneqt Business Solution Limited

 

Key players of this market are ADP, LLC, Conduent Inc., Accenture PLC, WNS (Holdings) Ltd, Capgemini, Infosys BPM Limited, IBM Corporation, Tata Consultancy Services Limited (TCS), TTEC Holdings, Inc., and Conneqt Business Solution Limited, among others.

ITO and BPO IT Outsourcing Market keyplayers

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