target audience: TECH SUPPLIER Publication date: May 2023 - Document type: Market Forecast - Doc Document number: # US49161723
Worldwide and U.S. Business Process Outsourcing Services Forecast, 2023–2027
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Abstract
This IDC study provides a forecast for the worldwide and U.S. BPO services market for 2023–2027.
"Growth in the worldwide BPO market is stable, and it is hard to suggest yet that any economic uncertainties will impact the BPO submarkets. Many contact center/CX service providers have seen solid revenue growth and strong performances despite challenging macroeconomic conditions, including double-digit profitability growth and leading margins. Other BPO providers that offer multiple BPO lines of business/services (e.g., finance and accounting [F&A] and procurement) also saw YoY revenue growth for their BPO businesses and digital operations. IDC survey data suggests that the biggest reduction in budgets will occur in professional services over managed services or consulting over anything else, and managed service rates are not where buyers expect inflation to have the greatest impact on costs," says Ali Close, research manager of IDC's Business Process Services program.