Description

Outsourcing helps organizations navigate the challenging competitive environment. It has evolved from being a resource expansion and cost arbitrage solution to a process that drives business outcomes and creates value for customers. This Frost & Sullivan study presents forecasts for the global business process management (BPM) services market from 2018 to 2027, and the horizontal BPM services covered are Customer Experience (CX) outsourcing, Human Resource (HR) outsourcing, Financial and Accounting (F&A) outsourcing, and Procurement and Supply Chain Management outsourcing. The geographic scope includes North America, Latin America, Europe, the Middle East and Africa, and Asia-Pacific. The global BPM services market generated a revenue of $216.0 billion in 2020 and is forecast to grow to $284.9 billion in 2027 at a compound annual growth rate (CAGR) of 4.0%. The market experienced a drastic decline in growth in 2020 due to the COVID-19 pandemic; however, it is expected to return to strong growth during the forecast period after a rebound in 2021.