Description

The global business process management (BPM) services market declined in 2020, largely due to the challenges brought on by COVID-19. While client sectors were severely affected by the pandemic, the BPM services industry experienced significant growth in 2021 and is expected to continue to witness year-on-year growth between 2022 and 2028. This growth is being driven by the increasing demand for digital transformation technology solutions from organizations attempting to improve their business processes by optimizing workflows.

BPM services encompass both front-office and back-office activities across the customer experience, human resources, finance & accounting, and supply chain management & procurement outsourcing segments. Frost & Sullivan expects a growing adoption of digital technology and work-from-home solutions in the BPM services industry. BPM service providers must deliver solutions that align with organizations’ current business priorities and create possibilities for addressing future technology requirements.

This study offers key forecasts and growth rates for the global BPM services market, as well as market size by location and industry verticals. Key service provider revenue, growth, and market share have also been included. The study identifies the factors driving and restraining the growth of the market and highlights the opportunities emerging from the changes in the global BPM services industry.