Cloud, RPA to drive $147.9Bn BFSI BPO market by 2028
NEW YORK, UNITED STATES — Market research firm ReportLinker sees the global Business Process Outsourcing (BPO) market for the Banking, Financial Services, and Insurance (BFSI) sectors reaching US$147.9 billion by 2028.
The BFSI BPO market — growing at a 9.1% compound annual growth rate (CAGR) — will be driven by cloud-based services, digital banking, and robotic process automation (RPA).
ReportLinker also expects the customer service segment to lead the industry as BFSI organizations rely heavily on BPO for marketing, client retention, and relationship management.
Banking will also remain dominant in this market, leveraging BPO to improve services, strengthen client relationships, and focus more on core activities.
Regarding geography, North America is expected to maintain its lead due to a strong demand for online banking and the adoption of cloud technology among BPO providers.
