Business process outsourcing (BPO) is defined as a subset of outsourcing that involves the contracting of the operations and responsibilities of a specific business process to a third-party service provider.
Business Process Outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business related functions, typically IT related, to a third party service provider. This process usually involves multi-year, lucrative contracts between the client firm and service provider firm. Often, the employees of the service provider firm working for the client firm are incorporated in the client firm. Off-shoring, which is delegating work to a company based in another country is widely carried out by many global companies. Another similar outsourcing activity called Knowledge Process Outsourcing (KPO) functions on similar lines with the exception that highly critical tasks that involve skill, knowledge, education and expertise are outsourced to third party service providers. Types of services carried out by BPOs include administration, finance and accounting, human resources, payment services, logistics and distribution, customer support, etc. Types of services carried out by KPO include intellectual property research for patent applications, legal and medical services, training, market research, business research, consultancy, research and development, etc. BPO finds applications in many verticals such as manufacturing, telecommunications, technology, banking, insurance and finance services, retail and healthcare among others.

Market Analysis and Insights: Global Business Process Outsourcing (BPO) Market
The global Business Process Outsourcing (BPO) market size is projected to reach US$ 241370 million by 2027, from US$ 180440 million in 2020, at a CAGR of 4.2% during 2021-2027.
With industry-standard accuracy in analysis and high data integrity, the report makes a brilliant attempt to unveil key opportunities available in the global Business Process Outsourcing (BPO) market to help players in achieving a strong market position. Buyers of the report can access verified and reliable market forecasts, including those for the overall size of the global Business Process Outsourcing (BPO) market in terms of revenue.
On the whole, the report proves to be an effective tool that players can use to gain a competitive edge over their competitors and ensure lasting success in the global Business Process Outsourcing (BPO) market. All of the findings, data, and information provided in the report are validated and revalidated with the help of trustworthy sources. The analysts who have authored the report took a unique and industry-best research and analysis approach for an in-depth study of the global Business Process Outsourcing (BPO) market.

Global Business Process Outsourcing (BPO) Scope and Market Size
Business Process Outsourcing (BPO) market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Business Process Outsourcing (BPO) market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by Type and by Application in terms of revenue and forecast for the period 2016-2027.

Segment by Type
Procurement
F&A
Customer Care
Logistics
Sales & Marketing
Training
Product Engineering

Segment by Application
BFSI
Manufacturing
Healthcare
Retail
Telecom
Others

By Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Nordic
Rest of Europe
Asia-Pacific
China
Japan
South Korea
Southeast Asia
India
Australia
Rest of Asia
Latin America
Mexico
Brazil
Rest of Latin America
Middle East & Africa
Turkey
Saudi Arabia
UAE
Rest of MEA

By Company
Accenture
Cognizant
Genpact
IBM
TCS
HP
Tech Mahindra
Capgemini
Wipro
EXL
NTT DATA(Dell)
WNS Global
Concentrix
Infosys
Mu Sigma
Aegis