Data Bridge Market Research analyses that the Europe Business Process Outsourcing (BPO) Market will grow at a CAGR of 7.8% during the forecast period of 2023 to 2030. During the forecast period, manufacturers involved in the business process outsourcing (BPO) market likely benefit significantly from increased awareness of the advantages of Business process outsourcing and investments in various organizations.
Market players are expanding their service offerings in order to acquire a competitive advantage. The Europe market is rising steadily as a result of the expanding industrial sector, infrastructure development, and technical improvements in developing countries. The adoption of IOT, and AI technologies is considerably driving the Europe market. Increased government backing and investment in rebuilding the old power transmission and distribution system is one element driving the market's rapid rise.
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Europe Business Process Outsourcing (BPO) Market Drivers:
- Rising customer focus toward enhanced efficiency, time effectiveness, and cost efficiency
Business process outsourcing has become an easy and cost-effective practice used widely in today's digitization world. It further enables business owners to reduce the burden of work and concentrate on other core aspects of their operation. Developed countries such as Japan, U.K., U.S. among others, always prefer outsourcing for their business processes. The ongoing digital revolution has made companies switch from traditional business process services (BPS) towards technological aspects such as business process as a service (BPaaS) to succeed. There is a huge difference in the wage/pay patterns of the western developed and developing countries. The kind of work is done in the west for a very high price to obtain a considerably cheaper rate in developing countries such as the Philippines, India, and Japan, with a difference of up to 60%. BPO allows gain flexibility in the workforce and avoids the need to hire. In addition to the legal obligations relating to the employment contract, the company does not have to bear any expenses related to the recruitment of an employee.
- Growing preference for cloud technology and its significance on process automation
Digital technologies have created new opportunities for business leaders. Traditional operations and business process outsourcing models are reinventing into more intelligent workflows using automation, Artificial Intelligence (AI), the Internet of Things (IoT), cloud, and other new technologies. Businesses must constantly evolve to more intelligent, fully orchestrated processes that consider clients, employees, suppliers, and business partners to remain relevant and continue their growth.
Key players operating in the Europe Business Process Outsourcing (BPO) market include:
Some of the major players operating in Europe business process outsourcing (BPO) market are Quarnstrom & Vang, Mediterranean Consulting, Parera Consulting Group SL, Newco communications, Callgest.net, DISYS, Xterna, Nova BPO, TRIA HORA, Cognodata, DAEM Dirección y Administración de Empresas, S.A., Abinitio Consulting SLU, UNISONO SOLUTIONS GROUP S.L. (acquired by Intelica group), Essentiel-outsourcing, Wallner Group, CPM International, Bukit BPO by BC, TDCX, WebhelpIBM Corporation, Cognizant, Capgemini, Genpact, ADP, Inc., Wipro Limited, Accenture, Tata Consultancy Services Limited, HCL Technologies Limited, NTT DATA, Inc., WNS (Holdings) Ltd., Conduent, Inc., NCR Corporation, Tech Mahindra Limited, Infosys Limited, Concentrix Corporation, TTEC, SunTec Web Services Pvt. Ltd., Invensis Technologies Pvt. Ltd., Sodexo, ExlService Holdings, Inc. and Affiliates., Intetics Inc., AMDOCS, CBRE, eNoah, Helpware, Outsourcia, Aidey, ALAC ETOILE, Humania BPO, Intersa, Grupo CMC, CBRE, and H2A among others.
Key Opportunities:
- Focus on multi-workflow scheduling of business
Earlier, automated workflows were reserved only for wealthy organizations willing to invest heavily in complex CRM and ERP systems. But, the advent of cloud technology has turned this concept on its head. As the technology transformed, people started leveraging its power to automate their complex workflow processes to achieve process integration. BPO has dramatically expanded in recent years as companies see the benefit in reducing costs, improving efficiency and customer service, and enabling high growth while working with limited resources.
- Emergence of digital technologies, namely AI, IoT, and cloud computing
Cloud computing has turned out to be a major driving force for digital transformation across industries. It provides unparalleled agility and reduces operational and management overheads. Several governments and businesses are starting to leverage this technology and are slowly gaining popularity across several verticals. The potential has become so open that the notion of the cloud is limited to only IT functions has completely changed. This is further integrated with other technologies such as artificial intelligence (AI), the internet of things (IoT), and edge computing, among others.
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Europe Business Process Outsourcing (BPO) Market Segmentations:
Outsourcing Type
- Offshore
- Onshore
- Nearshore
Service
- Voice Processing
- Telemarketing Services
- Image editing services
- Virtual staffing Services
- 3d visualization Services
- Others
Application
- Customer Care
- Finance and Accounting
- Talent and HR Services
- Sales and Marketing
- Sourcing, Procurement & Supply Chain
- Facilities and Administration
- Product Engineering
- Training
- Others
Deployment Mode
- Cloud
- On Premise
Organization Size
- Large Enterprises
- SMEs
Ownership
- Captive
- Third Party
Outsourcing Approach
- Contract Based
- Bundled Services
- Best-Shore
- Fee for Service
End User
- IT and Telecommunication
- BFSI
- Manufacturing
- Healthcare
- Government & Defense
- Retail & E-Commerce
- Transportation and Logistics
- Travel and Hospitality
- Energy and Utilities
- Education
- Others
Europe Business Process Outsourcing (BPO) Market Country Level Analysis
The country covered in Europe Business Process Outsourcing (BPO) market report are U.K., Germany, France, Italy, The Netherlands, Spain, Switzerland, Russia, Belgium, Turkey, and Rest of Europe
The region section of the report also provides individual market-impacting factors and changes in regulations in the market domestically that impact the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology, and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of sales channels are considered while providing forecast analysis of the country data.
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