The global business process outsourcing market size was estimated at USD 302.62 billion in 2024 and is projected to reach USD 525.23 billion by 2030, growing at a CAGR of 9.8% from 2025 to 2030. BPO is increasingly being adopted across multiple industry verticals, including banking, financial services, and insurance (BFSI), IT and telecommunications, and healthcare, reflecting its growing importance in streamlining operations and enhancing organizational efficiency.

The growing emphasis on cost reduction, focusing on core business functions, and accessing skilled talent are major factors driving the preference for BPO solutions over the forecast period. Additionally, technological advancements such as Robotic Process Automation (RPA), artificial intelligence (AI), machine learning (ML), and big data analytics are further propelling market growth by enabling automation, improving process efficiency, and delivering actionable insights. The adoption of cloud technology has also become a critical factor, offering benefits such as scalability, cost-effectiveness, reliability, and flexibility. Many BPO providers now deliver their services through cloud platforms, which is accelerating adoption by reducing infrastructure overheads and enabling rapid deployment.

A notable example of innovation in the sector occurred in September 2024 when NTT DATA, a Japanese technology services company, collaborated with IBM to launch SimpliZCloud, a fully managed cloud service powered by IBM LinuxONE. Designed to address the infrastructure needs of critical workloads, particularly in financial services, the solution supports applications such as core banking, lending, and risk management. SimpliZCloud provides high performance, robust security, and high availability, while also helping organizations consolidate resources, optimize infrastructure, and reduce enterprise software licensing costs. Its subscription-based model eliminates the need for significant capital investment and ongoing maintenance, thereby helping businesses cut expenses while benefiting from advanced cloud-enabled BPO solutions.

Key Market Trends & Insights:

• The business process outsourcing (BPO) market in North America accounted for a significant portion of the global industry, holding nearly 37.0% of the total market share in 2024. The region’s dominance is driven by the presence of established BPO providers, advanced technological infrastructure, and the high adoption of digital solutions across various industry verticals. Within North America, the U.S. market is projected to witness strong growth, expanding at a CAGR of 9.6% from 2025 to 2030, supported by increasing demand for cost-efficient operations, access to skilled talent, and the growing adoption of automation and cloud-based BPO solutions.

• By service type, the finance & accounting segment led the market, accounting for more than 21.0% of the total revenue in 2024. The segment’s growth is attributed to organizations outsourcing critical financial operations such as bookkeeping, payroll processing, tax compliance, and accounts payable/receivable management to reduce operational costs and improve accuracy and efficiency.

• By outsourcing type, the onshore segment dominated the market, contributing over 45.0% of the revenue share in 2024. This preference for onshore outsourcing is driven by the need for better control, improved compliance with local regulations, reduced time zone challenges, and enhanced communication with service providers.

• By deployment model, the cloud segment accounted for the largest share, representing over 52.0% of the market revenue in 2024. Cloud-based BPO solutions are increasingly preferred due to their scalability, cost-effectiveness, ease of access, and ability to support real-time collaboration. Organizations are leveraging cloud deployments to streamline operations, enhance data security, and minimize infrastructure costs while maintaining high efficiency in service delivery.

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Market Size & Forecast:

• 2024 Market Size: USD 302.62 Billion

• 2030 Projected Market Size: USD 525.23 Billion

• CAGR (2025-2030): 9.8%

• North America: Largest market in 2024

• Asia Pacific: Fastest growing market

Key Companies & Market Share Insights:

Key players in the business process outsourcing (BPO) industry include Teleperformance SE, TTEC Holdings, Inc., CBRE, Delta BPO Solutions, Concentrix Corporation, NCR Corporation, and Amdocs. These companies are actively pursuing strategic initiatives such as new product development, partnerships, collaborations, and agreements to strengthen their market positions and gain a competitive edge over rivals. Several notable examples illustrate these efforts.

In February 2025, Amdocs collaborated with Google Cloud to launch a strategic initiative aimed at improving the management and optimization of 5G networks through AI-driven solutions. By leveraging Google Cloud's Vertex AI and BigQuery, Amdocs introduced its Network AIOps solution, designed to automate complex network operations, enhance service reliability, and improve customer experiences for telecom providers. This partnership focuses on driving efficiency and intelligence across 5G network ecosystems, enabling telecom operators to streamline operations and deliver higher-quality services.

In January 2025, CBRE entered into a definitive agreement to acquire Industrious National Management Company, LLC, an India-based workplace solutions provider. Through this acquisition, CBRE plans to establish a new business segment called Building Operations & Experience (BOE), integrating building operations, property management, and workplace experience. This strategic move aims to enhance CBRE’s ability to offer scalable solutions across a variety of facilities, including data centers, offices, and warehouses, while improving operational efficiency and client satisfaction.

In September 2024, Concentrix Corporation launched iX Hello, a GenAI-powered self-service application designed to boost productivity and engagement while maintaining high security standards. The solution enables businesses to develop virtual assistants for multiple applications, including data analysis, language translation, internal self-service chatbots, and other use cases. By leveraging AI-driven automation, iX Hello helps organizations enhance operational efficiency, improve customer interaction, and deliver more personalized services.

Key Players

The following are the leading companies in the business process outsourcing market. These companies collectively hold the largest market share and dictate industry trends.

• Accenture

• Amdocs

• Atos SE

• Capgemini

• Capita plc

• CBRE

• Cognizant

• Concentrix Corporation

• HCL Technologies Limited

• Infosys Limited

• International Business Machines Corporation (IBM)

• Sodexo

• TATA Consultancy Services Limited

• Tech Mahindra Limited

• Teleperformance

• TTEC Holdings, Inc.

• Wipro

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Conclusion:

The global BPO market is poised for considerable expansion as companies increasingly outsource business functions to cut costs, sharpen their focus on core competencies, and access skilled talent. Growth is being powered by advances in automation, AI, cloud technologies, and data analytics, which are enabling more sophisticated and efficient service delivery. Emerging markets and technology driven service models are key to future growth.