Knowledge Process Outsourcing Market by Applications (IT & Telecom, Manufacturing, Pharmaceutical, Retail, BFSI, Healthcare, and Others), Services (Analytics & Market Research [Operations & Supply Chain Analytics, Competitive Intelligence & Industry Analysis, and Customer & Marketing Analytics], Engineering & Design, Legal Process Outsourcing, Publishing Outsourcing, Research & Development Outsourcing, Financial Process Outsourcing, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028
The global knowledge process outsourcing market size was valued at USD 28.98 billion in 2020 and is expected to expand at a considerable CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the demand for better flexibility in Service Level Agreements (SLAs) and ease in change management methods.
The outsourcing of essential insight about information-related business tasks is known as knowledge process outsourcing (KPO). Industries may save a substantial amount of time and money by outsourcing important operations in their systems. Highly qualified engineers, attorneys, and architects are widely available in rising economies such as China, India, and the Philippines. These professionals are willing to give professional services at cheaper rates than their western counterparts due to cheap labor structure. The increasing accessibility of quantity of data using cloud-based platforms throughout the world has made easy extracting usable information from various sources despite working in remote locations. Keeping this view, businesses turn to KPO organizations, which engage specialists in a variety of industries and use a variety of technologies to analyze company processes and make decision-making easier.
The COVID-19 issues have had a significant negative impact on domestic and international enterprises across industries in a variety of nations. Companies have temporarily shut down and staff have been laid off as a result of the COVID-19 pandemic, which has dampened total IT investment. According to several estimations, the growth of the IT sector is expected to slow down around 3% to 8% in Q1-Q2 of 2022.
Market Trends, Drivers, Restraints, and Opportunities
- Growing need for professional services including training, research, managed services, and maintenance is expected to drive the market.
- Technological improvements in the engineering business and growing need for outsourcing component design are key factors propelling the market.
- Increasing incidence relating to unemployment in developing nations as well as the wide availability of skills labor are likely to spur the market.
- Qualified workers are given average labor rates and are expected to complete activities at a cheap cost. This is a key restraint that can hamper the market growth.
- Rising number of startups and their rapid access to several technology-based companies in order to meet customer expectations. This is expected to create lucrative opportunities for the market expansion.
Scope of the Report
The report on the global knowledge process outsourcing market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Knowledge Process Outsourcing Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2020 |
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Historic Data |
2018–2019 |
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Forecast Period |
2021–2028 |
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Segmentation |
Applications (IT & Telecom, Manufacturing, Pharmaceutical, Retail, BFSI, Healthcare, and Others) and Services (Analytics & Market Research [Operations & Supply Chain Analytics, Competitive Intelligence & Industry Analysis, and Customer & Marketing Analytics], Engineering & Design, Legal Process Outsourcing, Publishing Outsourcing, Research & Development Outsourcing, Financial Process Outsourcing, and Others) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Mphasis; RR Donnelley & Sons Company; Wipro Limited; HCL; Accenture; EXL Services; Genpact; McKinsey and Company; and Moody’s Investors Service, Inc. |
Market Segment Insights
IT & telecom segment to expand at a considerable CAGR
On the basis of applications, the knowledge process outsourcing market is segmented into IT & telecom, manufacturing, pharmaceutical, retail, BFSI, healthcare, and others. The IT & telecom segment is projected to expand at a considerable CAGR during the forecast period due to need to manage a vast database in the IT and Telecom industry. On the other hand, the BFSI segment is anticipated to account for a major market share during the forecast period owing to rising need to update the popular trend in financial and banking system.
Legal process outsourcing segment to hold significant share of the market
In terms of services, the market is divided into analytics & market research, engineering & design, legal process outsourcing, publishing outsourcing, research & development outsourcing, financial process outsourcing, and others. The analytics & market research segment is further classified as operations & supply chain analytics, competitive intelligence & industry analysis, and customer & marketing analytics. The legal process outsourcing segment is expected to hold significant share of the market ascribed to rising demand for the effectiveness of the services supplied with the cost savings. However, the analytics & market research segment is anticipated to account for a significant market share as there is a greater need for corporate data and analytical solutions that help employees work more efficiently.
Asia Pacific is anticipated to constitute a key market share
In terms of regions, the knowledge process outsourcing market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to the rising presence of trained professionals such as engineers, architects, and attorneys in emerging economies such as India, China, and the Philippines. However, the market of Latin America is anticipated to expand at a rapid pace during the forecast period due to rapid development of enterprises with wide emphasis on R&D and producing analytical insights.
Segments
The global knowledge process outsourcing market has been segmented on the basis ofApplications
- IT & Telecom
- Manufacturing
- Pharmaceutical
- Retail
- BFSI
- Healthcare
- Others
- Analytics & Market Research
- Operations & Supply Chain Analytics
- Competitive Intelligence & Industry Analysis
- Customer & Marketing Analytics
- Engineering & Design
- Legal Process Outsourcing
- Publishing Outsourcing
- Research & Development Outsourcing
- Financial Process Outsourcing
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Mphasis
- RR Donnelley & Sons Company
- Wipro Limited
- HCL
- Accenture
- EXL Services
- Genpact
- McKinsey and Company
- Moody’s Investors Service, Inc.
Competitive Landscape
Key players competing in the global knowledge process outsourcing market are Mphasis; RR Donnelley & Sons Company; Wipro Limited; HCL; Accenture; EXL Services; Genpact; McKinsey and Company; and Moody’s Investors Service, Inc.
Players in the industry are largely focused on identifying opportunities in order to develop fresh methods and strategies for providing services to clients. Companies have formed several teams to do research on tools and execute them while offering services to clients in order to retain a strong position in the market. For example, McKinsey developed a new brand called Digital McKinsey in 2016, which included a specific team of data engineers, developers, designers, and advanced analysts, among other things. In 2017, Accenture PLC (US) established a Digital Hub, which was considered to be a key means for developing and delivering solutions to clients.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Knowledge 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. Knowledge 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. Knowledge Process Outsourcing Market - Supply Chain
4.5. Global Knowledge Process Outsourcing Market Forecast
4.5.1. Knowledge Process Outsourcing Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Knowledge Process Outsourcing Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Knowledge Process Outsourcing Market Absolute $ Opportunity
5. Global Knowledge Process Outsourcing Market Analysis and Forecast by Applications
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Applications
5.2.2. Y-o-Y Growth Projections by Applications
5.3. Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
5.3.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
5.4. Absolute $ Opportunity Assessment by Applications
5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Knowledge 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. Knowledge 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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
7. North America Knowledge 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 Knowledge 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 Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
7.4.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
7.5. Basis Point Share (BPS) Analysis by Applications
7.6. Y-o-Y Growth Projections by Applications
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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
8. Latin America Knowledge 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 Knowledge 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 Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
8.4.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
8.5. Basis Point Share (BPS) Analysis by Applications
8.6. Y-o-Y Growth Projections by Applications
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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
9. Europe Knowledge 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 Knowledge 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 Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
9.4.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
9.5. Basis Point Share (BPS) Analysis by Applications
9.6. Y-o-Y Growth Projections by Applications
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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
10. Asia Pacific Knowledge 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 Knowledge 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 Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
10.4.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
10.5. Basis Point Share (BPS) Analysis by Applications
10.6. Y-o-Y Growth Projections by Applications
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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
11. Middle East & Africa Knowledge 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 Knowledge 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 Knowledge Process Outsourcing Market Size and Volume Forecast by Applications
11.4.1. IT & Telecom Manufacturing Pharmaceutical Retail BFSI Healthcare
11.5. Basis Point Share (BPS) Analysis by Applications
11.6. Y-o-Y Growth Projections by Applications
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 Knowledge Process Outsourcing Demand Share Forecast, 2019-2026
12. Competition Landscape
12.1. Global Knowledge Process Outsourcing Market: Market Share Analysis
12.2. Knowledge Process Outsourcing Distributors and Customers
12.3. Knowledge Process Outsourcing Market: Competitive Dashboard
12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
12.4.1. Mphasis RR Donnelley & Sons Company Wipro Limited HCL Accenture EXL Services
Applications
- IT & Telecom
- Manufacturing
- Pharmaceutical
- Retail
- BFSI
- Healthcare
- Others
- Analytics & Market Research
- Operations & Supply Chain Analytics
- Competitive Intelligence & Industry Analysis
- Customer & Marketing Analytics
- Engineering & Design
- Legal Process Outsourcing
- Publishing Outsourcing
- Research & Development Outsourcing
- Financial Process Outsourcing
- Others
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
- Mphasis
- RR Donnelley & Sons Company
- Wipro Limited
- HCL
- Accenture
- EXL Services
- Genpact
- McKinsey and Company
- Moody’s Investors Service, Inc.
Key players competing in the global knowledge process outsourcing market are Mphasis; RR Donnelley & Sons Company; Wipro Limited; HCL; Accenture; EXL Services; Genpact; McKinsey and Company; and Moody’s Investors Service, Inc.
Players in the industry are largely focused on identifying opportunities in order to develop fresh methods and strategies for providing services to clients. Companies have formed several teams to do research on tools and execute them while offering services to clients in order to retain a strong position in the market. For example, McKinsey developed a new brand called Digital McKinsey in 2016, which included a specific team of data engineers, developers, designers, and advanced analysts, among other things. In 2017, Accenture PLC (US) established a Digital Hub, which was considered to be a key means for developing and delivering solutions to clients.
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