Global Front Office BPO Services Market Overview:
Business process outsourcing is a primary subset of outsourcing that involves contracting the operations and responsibilities of specific business functions (or processes) to a third-party service provider. The front office BPO services are services related to customer interactions such as inbound or outbound sales, help desks, customer service centers, and telemarketing. The front office BPO services also include document management services such as accounting and finance. Industries focusing on expansion through offshoring their operations to front office BPOs is projecting the growth of the global front office BPO services market in the forecast period.
As per latest study released by AMA Research, the Global Front Office BPO Services market is expected to see growth rate of 6.6%Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Forecast Period | 2024-2030 |
Historical Period | 2018-2023 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Emerging new Technology in the Market
Market Growth Drivers:
Industries focusing on Expansion through Offshoring their Operations to Front Office BPOs and Increased Adoption of Application Outsourcing
Challenges:
Other Artificial Outsourcing Services are Replacing BPO Market
Restraints:
Lack of Effective Communication Between Client and Vendor
Opportunities:
Emergence of Data Protection Provisions & Digital Channel Management Capabilities beneficial for Outsourcers
Competitive Landscape:
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Some of the key players profiled in the report are MicroSourcing (United States), Helpware (United States), IBM Global Services (United States), Hewlett Packard Enterprise Co. (United States), KMC Solutions (Philippines), Transcosmos (Japan), WNS Global Services (India), Sitel Group (United States), Aptus Global Solutions (Philippines) and Back Office Pro (India). Analyst at AMA Research see United States Players to retain maximum share of Global Front Office BPO Services market by 2030. Considering Market by Industry Verticals, the sub-segment i.e. BFSI will boost the Front Office BPO Services market. Considering Market by Service Category Type, the sub-segment i.e. International BPO Services will boost the Front Office BPO Services market.
Latest Market Insights:
In January 2020, Advantage Communications highlighted the growth potential of value-driven delivery points with the announcement that it will take a majority stake in Tijuana-based First Kontact. Not only does this constitute a strong kick-off to 2020’s consolidation activity, it puts the spotlight on a location that is rapidly becoming a hotspot in the American nearshore
In October 2021, 21st century brought with it innovation, advances in technology, and convenience. The BPO sector is one of those many innovations that has also brought about convenience. Companies are now seeing the benefit of BPO’s and are taking advantage of the many services they offer
What Can be Explored with the Front Office BPO Services Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Front Office BPO Services Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Front Office BPO Services
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Front Office BPO Services market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Front Office BPO Services market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Front Office BPO Services Providers, Research Organizations and Consulting Companies, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.