This market research report outlines the market size and forecast for knowledge process outsourcing until 2019. Market segmentation by BFSI, healthcare, and retail. The research report presents the market shares for APAC, Americas, and EMEA are also provided in the report. The key leading players analyzed by this report include Genpact, Mphasis, and Wipro.
Technavio has released its new market research report, Global KPO Market, which is expected to grow at a CAGR of around 23% between 2015 and 2019.Owing to increasing outsourcing business activities across the globe, companies are looking for more analytical and specialist expertise, and hence knowledge process outsourcing (KPOs) are seen to be increasingly fitting such requirement of companies that are eager to outsource to third party service providers. The Americas dominate the global market for KPO, accounting for 65% of the overall market share. However, emerging economies such as Asia and Latin America have been able to attract KPO service providers due to the advantages such as low labor costs, availability of trained professionals combined with high productivity and a favorable business environment.
“Healthcare sector is the fastest growing segment in the outsourcing for knowledge intensive services. Pharmaceutical and bio-tech are sub-industries of this segment, and offer a high demand for clinical research and drug discovery. This sector demands for the protection of IPR, for instance, findings and associated databases of a clinical trials from pharmaceutical companies require protection. Therefore, the imminent need to overhaul existing legacy RCM process models has resulted in healthcare service providers to make strategic acquisitions with managed services providers and leading KPOs,” Navin Rajendra, Lead Analyst, ICT, Technavio Research.
India is expected to remain the most favored outsourcing destination during the forecast period owing to the increased use of English language in the country. The country is the most preferred KPO destination, occupying around 63% of the overall market. Tedhnavio’s market analysts estimate that the Indian KPO service providers will move toward providing more complex services such as model development, consultative offerings, and services based on proprietary IP as the market matures.
The key vendors in the global KPO market include Genpact, Mphasis, RR Donnelley & Sons and Wipro. Intense competition prevails in this market as organizations across industries such as retail, BFSI, healthcare, FMCG, and telecom increasingly avail outsourced services for better customer engagement, to increase revenues, and to bring down costs
A more detailed analysis is available in the Technavio report, Global KPO Market 2015-2019.
We can customize this reports by other regions and specific segments upon request.
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