Reduction in operational cost & agility offered by Cloud BPO to drive the adoptions of Cloud BPO services whose market is forecasted to grow at a CAGR of 22.1%Published Date: Nov 2017
According to a new market research study titled ‘Cloud BPO Market to 2025 – Global Analysis and Forecasts by services and vertical’, the global Cloud BPO market was valued at US$ 31,580 Mn in 2016 and is estimated to reach US$ 94,522.7 Mn by 2025. The report highlights the trends prevalent in the global Cloud BPO market and the factors driving the market along with those that act as deterrents to its growth.
One of the major reasons for high adoption of Cloud BPO is the reduction in the operational cost & agility offered by Cloud BPO. Cost advantage offered by Cloud BPO services is one of the main reasons that impacts the choice of the organizations with respect to traditional BPO services. It reduces the IT cost of the organizations by providing support and maintenance of the software and hardware. Also, a BPO itself is highly benefitted by the integration of cloud computing. The BPO service providers are capable of leveraging the benefits of cloud computing by dropping down the processing time for data-intensive business processes of the organizations, and offering data processing workflow at a compact turnaround time. The Cloud BPOs are also highly benefitted in terms of flexibility of conveniently adding novel functions and features to their systems and effectively attain the transforming client demands.
The global Cloud BPO market has been segmented on the basis of services into Human Resource, E-Commerce, Finance and Accounting, Customer Care, Sales & Marketing and Others. On the basis of vertical, the Cloud BPO market is categorized into BFSI, Telecom & IT, Healthcare, Automotive, Manufacturing, Food and Beverage, Power & Energy, Consumer Electronics, and others. Geographically, the global Cloud BPO market is segmented into North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
The BFSI sector is expected to witness a rapid growth and drive the growth of Cloud BPO market. The key players profiled in the report are Firstsource Solutions Ltd., WNS (Holdings) Ltd., Infosys Ltd., HCL Technologies Ltd., Genpact Ltd., Capgemini SE, CA Inc., Atos SE, Tata Consultancy Services Ltd., DXC Technology Company, Sungard, Accenture PLC, ADP LLC, IBM Corporation, Oracle Corporation, SAP SE, Xerox Corp., and HPE.
Global Cloud BPO Market Breakdown by Region, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global Cloud BPO market as follows:
Global Cloud BPO Market – By Service
Finance and Accounting
Sales & Marketing
Global Cloud BPO Market – By Vertical
Telecom & IT
Food and Beverage
Power & Energy
Global Cloud BPO Market – By Geography
Rest of Europe
Asia Pacific (APAC)
Rest of APAC
Middle East & Africa (MEA)
Rest of MEA
South America (SAM)
Rest of SAM