BPO market: Key market research findings
- Growing usage of social media and online blogs by customers to augment growth in the CRM BPO segment
- Advent of services like IBM’s cloud-based BPO services for travel and expense reporting to foster growth in this market
Technavio has added a new market research report on the BPO market in the EU, to its ITeS and outsourcing portfolio. Technavio’s market research analysts estimate this market to grow at a rate of close to 6% during the forecast period of 2014-2019.
The new research report from Technavio discusses in detail the key drivers and trends responsible for growth, as well as the segments with the maximum growth potential.
“Thanks to the growing deployment of cloud-based services by companies, the demand for web-based BPO services in the EU has increased. Cloud-based BPO services are affordable and offer flexibility and scalability in services. The advent of IBM’s cloud-based BPO services aids in travel and expense reporting while maintaining cost efficiency and ensuring quick-service delivery. Consequently, there is an increase in demand from companies in the EU to integrate their systems into web-based services,” says Navin Rajendra, Lead Analyst, ITeS and Outsourcing, Technavio Research.
Recently, it has been observed that Eastern European BPO services are attracting companies for customer relationship management (CRM) BPO as they provide services in multiple European languages. The CRM BPO segment dominates the market in terms of revenue and accounts for more than 35% of the total market. Analysts estimate this segment to grow at a rate of close to 5% during the forecast period, surpassing US$ 37 billion by 2019. This segment is highly fragmented due to the presence of numerous vendors that provide call center services in the EU.
CRM BPO market in EU (US$ billions)
Source: Technavio, 2015
A significant end-user segment to look out for is the BFSI segment, which is expected to grow owing to the economic stability in this region. The leading companies in the BPO market in the EU are Accenture, Infosys, Capgemini, TCS, and IBM.
More detailed analysis is available in the Technavio report BPO market in the EU.
https://www.technavio.com/%3Cp%3E%3Cstrong%3EWe%20can%20customize%20repor…
