Analysis of BPO market size in APAC vs. other regions between 2018 and 2023
Analysis of BPO market size in APAC vs. other regions between 2018 and 2023
  • By Sunil Kumar Verma
  • 승인 2019.12.11 02:26
  • 댓글 0
이 기사를 공유합니다

 

Asia-Pacific(APAC) business process outsourcing market set to grow at CAGR of 10% between 2018 and 2023. APAC continues to be a vibrant market for business process outsourcing (BPO) space, owing to the increasing number of contact centers in the region. Against this backdrop, the overall BPO market in the region is estimated to grow at a compound annual growth rate (CAGR) of 10% between 2018 and 2023 to reach US$120.4bn, says GlobalData, a leading data, and analytics company.

According to GlobalData’s Market Opportunity Forecasts Model, APAC is set to emerge as the second-largest BPO market globally, behind North America (US$152.5bn).

Sunil Kumar Verma, Lead ICT Analyst at GlobalData, comments: “Outsourcing of specific functions or processes with a view to focus on cost-optimization, enhancing flexibility to scale up as per business requirements and re-focusing on core business activities by large as well as specialist companies will be the key drivers of the BPO market in the APAC region.”

China, Japan, India, Australia and South Korea will be the five largest BPO markets within the APAC region, accounting for more than 80% of the overall market share by 2023.

Sunil explains: “This will be primarily be driven by the increasing number of global companies expanding their base in the region and partnering with agile business partners to provide them with the required services.”

The human resources BPO segment is set to grow at a CAGR of 15% during the forecast period and continues to be the largest segment with 32% share in the overall BPO market in the region.

Sunil concludes: “With increasing process standardization, productivity gains due to digitalization and workflow automation, the extent of outsourcing by enterprises might not be limited only to back-office operations in the future. It will make inroads into the front-office and middle-office operations as well. Enterprises along with business partners might collaborate to establish mutual service centers such as the Center of Excellence (CoE). However, security and privacy will continue to be the major hindrance for such initiatives.”

This article was provided by Sunil Kumar Verma, ICT Analyst at GlobalData.


댓글삭제
삭제한 댓글은 다시 복구할 수 없습니다.
그래도 삭제하시겠습니까?
댓글 0
댓글쓰기
계정을 선택하시면 로그인·계정인증을 통해
댓글을 남기실 수 있습니다.

  • #1206, 36-4 Yeouido-dong, Yeongdeungpo-gu, Seoul, Korea(Postal Code 07331)
  • 서울특별시 영등포구 여의도동 36-4 (국제금융로8길 34) / 오륜빌딩 1206호
  • URL: www.koreaittimes.com / m.koreaittimes.com. Editorial Div. 02-578-0434 / 010-2442-9446. Email: info@koreaittimes.com.
  • Publisher: Monica Younsoo Chung. CEO: Lee Kap-soo. Editor: Jung Yeon-jin. Juvenile Protection Manager: Yeon Choul-woong.
  • IT Times Canada: Willow St. Vancouver BC, Canada / 070-7008-0005.
  • Copyright(C) Korea IT Times, Allrights reserved.
ND소프트