Global IT BPO Services Market Overview:
IT BPO Services is the delegation of one or more IT-intensive business processes to an external provider that, in turn, owns, administrates and manages the selected processes based on defined and measurable performance metrics. BPO Rise in operational efficiency by the organizations. BPO is often divided into two main types of services back office and front office. Back-office services include internal business processes, such as billing or purchasing. Front-office services pertain to the contracting companyís customers, such as marketing and tech support. BPOs can combine these services so that they work together, not independently.
- Increasing Investments By Enterprises For BPO
- Concern of data privacy and Integrity
- Emergence of new technology
- Risks in competitions with player
The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Some of the key players profiled in the report are Tata Consultancy Services Ltd (India), Accenture (Ireland), HCL Technologies Ltd (India), Triniter (United States), IBM (United States), Cognizant (United States), Concentrix (United States), Wipro (India), Genpact (United States), ADP (United States), EXL Service (United States) and Invensis (India). Additionally, following companies can also be profiled that are part of our coverage like SunTec India (India), Intetics (United States), Unity Communications (United States) and Helpware (United States). Analyst at AMA Research see United States Players to retain maximum share of Global IT BPO Services market by 2026. Considering Market by Services, the sub-segment i.e. Call Center Services will boost the IT BPO Services market. Considering Market by End Use, the sub-segment i.e. Billing will boost the IT BPO Services market. Considering Market by Enterprise, the sub-segment i.e. Small Enterprises will boost the IT BPO Services market.
Latest Market Insights:
On 1 July 2019 HCL Technologies (HCL), a leading global technology company, confirmed the official close at the end of June 2019 the previously announced acquisition of select IBM products for security, marketing, commerce, and digital solutions. As part of the dealís close, HCL takes full ownership of the research and development, sales, marketing, delivery, and support for AppScan, BigFix, Commerce, Connections, Digital Experience (Portal and Content Manager), Notes Domino, and Unica.
On 29 June 2021 Intellinetics, Inc., a cloud-based document solutions provider, announced the launch of its new Business Process Outsourcing (BPO) services to meet the evolving needs of existing customers and expand its service offering into other markets .
What Can be Explored with the IT BPO Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global IT BPO Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in IT BPO Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
The top-down and bottom-up approaches are used to estimate and validate the size of the Global IT BPO Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in IT BPO Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes IT Bpo Services Provider, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.
Frequently Asked Questions (FAQ):1. What is the growth rate predicted for the Global IT BPO Services Market?
The IT BPO Services market is expected to see a CAGR of % during projected year 2020 to 2026.
2. Who are the top performing companies in IT BPO Services Market?
Top performing companies in the Global IT BPO Services market are Tata Consultancy Services Ltd (India), Accenture (Ireland), HCL Technologies Ltd (India), Triniter (United States), IBM (United States), Cognizant (United States), Concentrix (United States), Wipro (India), Genpact (United States), ADP (United States), EXL Service (United States) and Invensis (India), to name a few.
3. What trending factors would impact IT BPO Services Market growth most?
"High Investment in IT BPO Service" is seen as one of major influencing trends for IT BPO Services Market during projected period 2020-2026.