Share This Story, Choose Your Platform!

Published On: November 4th, 2020|2 Comments|Tags: |1.9 min read|385 words|Views: 1466|

That’s based on findings and research from Technavio (full report available for download here). The $76B USD figure represents a compound annual growth rate (CAGR) of 7% over the next four years.

BPO industry growth – predictions

Notable highlights from the report:

  • The major business process outsourcing market growth came from the IT and telecommunication segments. The business process outsourcing market share growth by the IT and telecommunication segment will be significant during the forecast period owing to technological advances, fast growth in data traffic, and growing demand for digital content and communication by consumers.
  • North America was the largest business process outsourcing market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. Factors such as the rise in the adoption of advanced technologies such as cloud computing solutions, social media, AI, and RPA will significantly drive business process outsourcing market growth in this region over the forecast period.
  • As the business impact of COVID-19 spreads, the global business process outsourcing market 2020-2024 is expected to have Neutral and At par growth.

As Technavio notes:

“Telecom companies benefit from outsourcing their customer services to BPO companies as it enables them to manage cost pressures, optimize investments, and get specialized resources while establishing a flexible strategy to retain existing customers and acquire new customers. Social media companies and Internet service providers are encouraging telecom companies to constantly create new business models and innovative offerings to improve customer experience. Emerging technologies have enhanced the productivity of business processes. For instance, RPA helps telecom companies in managing various tasks, such as managing complicated and unstructured datasets. AI enables the analysis and prioritization of customer queries, which leads to faster resolutions. This technology improves customer services for telecom companies. Increasing adoption of BPO by IT and telecom service providers has been identified as one of the key market growth drivers.”

The summary

This is a big part of the reason we’ve been so bullish on RPA ourselves. It’s all about delivering client success at scale, globally, with cost consideration, and making sure the end-users of the client are taken care of. RPA isn’t perfect and isn’t a silver bullet, but it can help achieve some of those things for our clients — and that’s always our goal.

technologyThe seven parts of digital transformation: An introduction
Bring the call center into the future

2 Comments

  1. Y 10/04/2021 at 11:46 PM

    Having read thіs I believed it was extrеmeⅼy enlіghtening.
    I appreciate you spendіng some tіme and effort to put this content tօgether.

    I once again find myself spending way too much time both reading and posting сomments.
    But so wһɑt, it was still worthwhile!

    • Conectys 10/05/2021 at 10:25 AM

      We’re happy you enjoyed it.

Comments are closed.

The BPO market might grow $76B between 2020 and 2024

Intrigued about oursourcing?

Get in touch with our sales team now!

Contact sales now

Recent  Posts

  • conectys global bpo blog

The 3 Areas Expected to See Even More Outsourcing in 2018

January 28th, 2018|Comments Off on The 3 Areas Expected to See Even More Outsourcing in 2018

Outsourcing continued to grow in 2017, and is expected to do the same in 2018. And while nearly any type of business within any industry can benefit from offloading some of their services to a qualified BPO partner, [...]

  • conectys meeting room branded

Bringing education to the next level

May 18th, 2017|1 Comment

The team at Conectys are pleased to announce a new partnership, with one of the UK’s largest specialists in technology-assisted learning. The collaboration targets end-user support for a language development multiplatform app that will offer a rich and [...]

Complexity in the US spells success in the Philippines

October 16th, 2016|Comments Off on Complexity in the US spells success in the Philippines

The US medical diagnosis coding system is changing. That, in itself, might not be much news to the rest of the world. But for the outsourcing industry in the Philippines, it is a sign that business will soon [...]

  • Work from home success

Automation beyond the Hype

June 23rd, 2016|Comments Off on Automation beyond the Hype

We launched ConectysOS 2.0, a major redesign of our proprietary, private cloud-hosted Customer Engagement and Analytics automation platform, and have implemented it with all of Conectys' global clients. There are several key takeaways from this journey and we [...]

Related Posts