The growth of the global business process management (BPM) industry was estimated to be $242.46 billion in 2022. The demand or process automation and AI will ensure that it grows at 5.7% year-over-year. Robotic process automation, AI, real-time analytics, and chatbots) and changing business models including digital platforms and cloud computing continue to drive changing industry dynamics. Both front- and back-office processes play a fundamental role in keeping day-to-day operations running smoothly and sustaining long-term business growth. As organizations struggle to manage their business processes, they are looking at ways to transform their front- and back-office operations through digitalization. Forward-looking organizations are transforming their service delivery models, day-to-day business operations, customer interaction and engagement, and employee work environment. This disruption has forced organizations to innovate and embrace digital transformation. Organizations are embracing outsourcing services so that they can focus on their core strategic business functions and outsource non-core functions. Organizations continue to struggle with the in-house management of their legacy infrastructure, systems, and operations. This has led them to transform their business processes through partnership with service providers that will streamline their legacy systems, eliminate operational efficiencies, and automate their existing processes.

This Frost & Sullivan study presents the global horizontal BPM services industry in 2022 and market forecast and growth rate until 2029. It contains market size by location and industry verticals as well as key service provider revenue, growth, and market share. The study identifies the factors driving and restraining growth and highlights growth opportunities emerging from changes in the global BPM services industry.

Author: Sherrel Roche