Business Process Outsourcing (BPO) Market Size, Trends, Drivers and Challenges, Vendor Landscape, Opportunities and Forecast to 2028

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Published: June 13, 2025 Report Code: GD0163GOR-ST

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The global business process outsourcing market research report provides an executive-level overview of the current business process outsourcing market worldwide, with detailed forecasts of key indicators up to 2028. Published annually, the global business process outsourcing market report provides a detailed analysis of the near-term opportunities, competitive dynamics, and evolution of demand by product/service type and verticals across the large enterprise and micro, small & medium enterprise (MSME) markets, as well as a review of key business process outsourcing market trends as well as the technological developments that are shaping the business process outsourcing landscape.

The global outlook report provides information and insights into global business process outsourcing market
– The primary finding from GlobalData's view of revenue opportunities in the business process outsourcing market through to 2028, highlighting the market size and growth by product/service, by region, by vertical and by size band.
– The latest trends impacting the business process outsourcing market.
– The market drivers that will facilitate the growth of business process outsourcing market.
– The market challenges/inhibitors that may hinder the pervasive adoption of business process outsourcing.
– The overview of top ICT vendors in the business process outsourcing market.

Scope

This outlook report analyses the current trends, drivers, and challenges impacting the business process outsourcing market. The report outlines the evolution of business process outsourcing, and identifies and assesses the best performing vendors in the market. This report also presents GlobalData’s view of the revenue opportunities in the business process outsourcing market through to 2028, highlighting the market size and growth by technology, geography, and size band.

Key Highlights

The global business process outsourcing market size was valued at $343.8 billion in 2023. The market is expected to grow at a CAGR of 4.4% during the forecast period (2023-2028). The BPO market is driven by a combination of digital transformation needs, the outsourcing of high-end processes, technological advancements, hybrid work models, sector-specific demands, and supportive governmental initiatives. These factors collectively create a robust environment for the continued growth and evolution of BPO services.

According to GlobalData, business process outsourcing would see majority share of its revenue come from vertical-specific BPO segment over the forecast period. Revenue from vertical-specific BPO reached $95.9 billion in 2023 and is set to grow up to $117.7 billion in 2028 at a CAGR of 4.2%.

BFSI and manufacturing are the leading end-use vertical segment for business process outsourcing, in terms of revenue contribution, and will remain so over the forecast period.

North America is the leading regional market with revenue estimated at $129.6 billion for 2023 and set to grow up to $159.4 billion by 2028 at a CAGR of 4.2%.

Reasons to Buy

This Global Outlook Report provides a comprehensive assessment of the business process outsourcing market. It helps the reader to understand the business process outsourcing market landscape, the recent trends, drivers, and challenges/inhibitors shaping the business process outsourcing market.

The report is exhaustive and up-to-date providing market opportunity forecasts in the business process outsourcing market from 2023 to 2028, spanning technology segments (services), six regions, 22 verticals, and two size bands.

The report provides an assessment of business process outsourcing vendors.

Teleperformance
Cognizant
Accenture
Capita
TCS
Genpact
Infosys

Table of Contents

Executive Summary

Market Overview

Market and Technology Trends

Market Growth Drivers

Market Growth Inhibitors/Challenges

Key Product/Services Market Snapshot

Key Regional Market Snapshot

Key Vertical Market Snapshot

Competitive Landscape

Appendix

Table

Table 1: Business Process Outsourcing (BPO) – Porter’s Five Force Analysis

Table 2: Key opportunities and recommendations

Table 3: Global BPO Market By Region ($M), 2019-2027

Table 4: Americas BPO Vendor Market Shares, 2022-23

Table 5: Asia Pacific BPO Vendor Market Shares, 2022-23

Table 6: EMEA BPO Vendor Market Shares, 2022-23

Table 7: Company Profiles Summary, 2023

Figures

Fig 1: Top Business Process Outsourcing (BPO) Country Markets, 2023 vs 2027

Fig 2: Top Business Process Outsourcing (BPO) Market by Region 2023

Fig 3: Top Business Process Outsourcing (BPO) Market by Segmentation

Fig 4: Business Process Outsourcing (BPO) – Industry Value Chain Analysis

Fig 5: Business Process Outsourcing (BPO) – PEST Analysis

Fig 6: BPO Consumer and Investment Insight Surveys, 2023

Fig 7: BPO – M&A Analysis

Fig 8: BPO – Venture Financing/Private Equity Analysis

Fig 9: BPO – Patent Activity Analysis

Fig 10: Global Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Billion)

Fig 11: Global Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Billion)

Fig 12: Global Business Process Outsourcing (BPO) Market Share Estimates & Forecasts, by Vertical, 2019-2027 (%)

Fig 13: Global Business Process Outsourcing (BPO) Market Estimates and Forecasts, by Enterprise Size, 2019-2027 ($ Billion)

Fig 14: Global Business Process Outsourcing (BPO) Market Estimates and Forecasts, by Region, 2019-2027 ($ Billion)

Fig 15: North America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 16: North America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 17: North America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 18: North America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 19: US Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 20: US Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 21: US Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 22: US Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 23: Canada Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 24: Canada Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 25: Canada Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 26: Canada Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 27: Mexico Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 28: Mexico Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 29: Mexico Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 30: Mexico Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 31: Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 32: Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 33: Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 34: Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 35: China Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 36: China Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 37: China Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 38: China Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 39: Japan Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 40: Japan Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 41: Japan Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 42: Japan Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 43: India Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 44: India Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 45: India Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 46: India Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 47: Australia Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 48: Australia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 49: Australia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 50: Australia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 51: South Korea Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 52: South Korea Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 53: South Korea Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 54: South Korea Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 55: South Korea Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 56: Rest of Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 57: Rest of Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 58: Rest of Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 59: Rest of Asia Pacific Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 60: Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 61: Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 62: Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 63: Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 64: Germany Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 65: Germany Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 66: Germany Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 67: Germany Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 68: France Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 69: France Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 70: France Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 71: France Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 72: Italy Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 73: Italy Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 74: Italy Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 75: Italy Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 76: Spain Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 77: Spain Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 78: Spain Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 89: Spain Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 80: UK Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 81: UK Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 82: UK Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 83: UK Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 84: UK Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 85: Rest of Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 86: Rest of Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 87: Rest of Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 88: Rest of Western Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 89: South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 90: South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 91: South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 92: South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 93: Brazil Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 94: Brazil Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 95: Brazil Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 96: Brazil Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 97: Colombia Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 98: Colombia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 99: Colombia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 100: Colombia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 101: Argentina Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 102: Argentina Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 103: Argentina Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 104: Argentina Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 105: Chile Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 106: Chile Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 107: Chile Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 108: Chile Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 109: Rest of South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 110: Rest of South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 111: Rest of South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 112: Rest of South & Central America Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 113: Central & Eastern Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 114: Central & Eastern Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 115: Central & Eastern Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 116: Central & Eastern Europe Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 117: Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Country, 2019-2027 ($ Million)

Fig 118: Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019-2027 ($ Million)

Fig 119: Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Billion)

Fig 120: Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Billion)

Fig 121: UAE Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 122: UAE Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 123: UAE Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 124: UAE Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 125: Saudi Arabia Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 126: Saudi Arabia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 127: Saudi Arabia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 128: Saudi Arabia Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 129: South Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 130: South Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service 2019-2027 ($ Million)

Fig 131: South Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 132: South Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

Fig 133: Rest of Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, 2019-2027 ($ Million)

Fig 134: Rest of Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Service, 2019 -2027 ($ Million)

Fig 135: Rest of Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Vertical 2019-2027 ($ Million)

Fig 136: Rest of Middle East & Africa Business Process Outsourcing (BPO) Market Estimates & Forecasts, by Enterprise Size 2019-2027 ($ Million)

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