The “Cloud BPO Market to 2025 by Services (Human Resource, E-Commerce, Finance and Accounting, Customer Care, Sales & Marketing, and Others), and Vertical (BFSI, Telecom & IT, Healthcare, Automotive, Manufacturing, Food and Beverage, Power & Energy, Consumer Electronics, and Others) – Global Analysis and Forecast”. The scope of study involves understanding on the factors responsible for this growth of Cloud BPO market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant Cloud BPO players in the market and their key developments.
Compulsion for enhancement of customer service is one of the major factor in the growth of Cloud BPO Market globally
The customers in today’s highly competitive environment are well aware about their burgeoning power and value as they have encountered with the digital economy and attained access to various services worldwide. The customers expect a consistent level of service from an organization regardless of their initial point of entry. This has further raised their expectations with respect to cloud based services as organizations have become more aware about the benefits of Cloud BPO services. The cloud as a core platform has been already been leveraged by the clients as a novel external as well as internal initiative, which has subsequently increased the competition among the BPO service providers, further motivating them to adopt improvised technologies such as cloud based technologies to serve their customers/clients in a better way. Rather than just finding new customers and making them happy, many world class companies strive to provide quality experience, which will turn their satisfied customers into true brand advocates.
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Reduction in operational cost & agility offered by cloud based BPO will be major driving factor for growth in the Cloud BPO market between 2016 and 2025
The Cloud BPO Market is US$ 31,580.0 million in 2016 and is estimated to reach US$ 94,522.7 million by 2025. The Cloud BPO market has experienced high growth and adoption rate in the last few years and is also expected to experience a significant growth and adoption rate in years to come. One of the major reasons for high adoption of cloud BPO is the reduction in the operational cost & agility offered by cloud based BPO. Cost advantage offered by cloud BPO services is one of the main reasons that impacts the choice of the organizations with respect to traditional BPO services. It reduces the IT cost of the organizations by providing support and maintenance of the software and hardware. Also, a BPO itself is highly benefitted by the integration of cloud computing. The BPO service providers are capable of leveraging the benefits of cloud computing by dropping down the processing time for data-intensive business processes of the organizations, and offering data processing workflow at a compact turnaround time. The cloud based BPOs are also highly benefitted in terms of flexibility of conveniently adding novel functions and features to their systems and effectively attain the transforming client demands.
The global Cloud BPO market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. North America region is expected to account for the largest share of the global Cloud BPO market in 2016, followed by Europe. The US being key country in North America region will lead Cloud BPO market in this region and is also expected to continue dominance throughout the forecast period from 2017 to 2025. The key players profiled in the report are Firstsource Solutions Ltd., WNS (Holdings) Ltd., Infosys Ltd., HCL Technologies Ltd., Genpact Ltd., Capgemini SE, CA Inc., Atos SE, Tata Consultancy Services Ltd., DXC Technology Company, Sungard, Accenture PLC, ADP LLC, IBM Corporation, Oracle Corporation, SAP SE, Xerox Corp., and HPE.
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