Research and Markets: Global BPO Market Report 2014-2018: Key Vendors Dominating are Accenture, Capgemini, Genpact, IBM & Tata Consultancy Services
DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/4jb2ch/global_bpo_market) has announced the addition of the "Global BPO Market 2014-2018" report to their offering.
The Global BPO market will grow at a CAGR of 5.63 percent over the period 2013-2018.
The Global BPO market can be segmented on the basis of BPO applications into the following: CRM, F&A, HR and Others that include procurement, and engineering and R&D BPO functions. The report also discusses in detail the market spending across end-user segments and covers the spending across key geographical regions in the market.
Cloud technology is revolutionizing the mode of outsourcing business processes. With its usage, BPO clients can have instant access to applications on demand and eliminate the need to invest in IT infrastructure. Though many BPO clients are still hesitant regarding its usage because of concerns of data security, return on investment, high initial investment, high cost of upgrades, maintenance, and acquiring a new project, several clients are increasingly adopting this technology in view of its disruptive levels of productivity improvement and business enablement. Some of the advantages associated with adopting a cloud-based BPO service are cost reduction, reliability, scalability, and agility.
According to the report, cost-effectiveness of outsourcing certain capital and labor intensive operations is one of the major factors driving the growth of the market. These firms are increasingly outsourcing their back office functions that require more infrastructure, capital investment, and human resources. Outsourcing these functions enable the firms to improve efficiency of operations and cut costs though labor arbitrage.
Further, the report states that the future of the Global BPO market is, however, constrained by certain factors; the most important among them being the rising attrition rates. BPO jobs are mainly taken up on a temporary or part-time basis and hence the turnover rates of employees are very high.
The report also includes a discussion of the other vendors operating in this market. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
- Accenture Plc
- Capgemini S.A.
- Genpact Ltd.
- IBM Corp.
- Tata Consultancy Services Ltd.
Key Questions Answered in this Report
- What will the market size be in 2018 and what will the growth rate be?
- What are the Key Market Trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
For more information visit http://www.researchandmarkets.com/research/4jb2ch/global_bpo_market