Cloud-based BPO in APAC: Key market research findings
- Need for cost-effective business processes spurs market growth
- HR segment accounts for a majority of the market’s revenue
- Key vendors – Accenture, Capgemini, Cognizant, IBM, Infosys, and TCS
Technavio’s market research analysts predict the cloud-based BPO market in APAC to grow at a CAGR of more than 14% between 2016 and 2020. The increasing need for cost-effective business process is the major driving force behind the adoption of cloud-based BPO in the region. Enterprise cloud infrastructure is proving to be extremely complex due to the availability of multiple application platforms and the extensive use of complex equipment. As a result, organizations need additional resources and money to manage these applications effectively. The need for effective management of networks, servers, and related data for application management has spurred the demand for outsourcing business processes.
The new market research report from Technavio presents a breakdown and analysis of the cloud-based BPO segments based on the services.
“The rise of business process automation plays a vital role in the growth of the market. There is a visible drift toward automated BPO operations that has enabled service providers to improve their sustainability in the market. The automation of business processes helps enterprises to operate and control additional application software through the existing application’s user interface. It also helps enterprises to maximize productivity and perform operations with 100% accuracy,” says Amit Sharma, Lead Analyst, ICT, Technavio Research.
In 2015, the cloud-based BPO market in APAC was dominated by the HR segment with almost 33% share of the overall market revenue. HR services include workforce administration, payroll management, employee helpdesk, benefits administration, recruitment administration, and learning management. Human resource outsourcing (HRO) supports organizational growth and has emerged as a vital tool to control costs and meet the expanding HR objectives. HRO services deployed through the BPaaS cloud are cost-effective and do not require high initial investments.
The key vendors in the cloud-based BPO market in APAC include Accenture, Capgemini, Cognizant, IBM, Infosys, and TCS. The growth of market players depends on their industry expertise, operational excellence, and transformational capabilities across consulting, business processes, and cloud computing. Providers should also expand their portfolio of services, solutions, and products to offer an omnichannel experience to customers.
A more detailed analysis is available in the Technavio report, Cloud-based BPO Market in APAC 2016-2020.
We can customize reports by other regions and specific segments upon request.
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