APAC BPO market to grow by 8.2% in 10 years
LONDON, UNITED KINGDOM — The Asia Pacific (APAC) Business Process Outsourcing (BPO) market is projected to expand at a compound annual growth rate (CAGR) of 8.2% during the forecast period of 2023-2033.
According to intelligence firm Visiongain, companies in the APAC are looking to BPOs for cost-effective ways to outsource non-core business functions such as customer service, human resources, and finance.
Adopting digital technologies — such as automation, artificial intelligence, and cloud computing — also drives the growth of BPO services in the region.
Moreover, companies are now catching up to the fact that businesses of all shapes and sizes can profit with the help of outsourcing agencies.
Citing a Clutch survey, Visiongain said that 37% of small businesses reported outsourcing at least one critical business operation, while 52% said they planned to do so the following year.
Visiongain added that these partnerships bring “strong opportunities” for Asia Pacific’s outsourcing sector.
In 2022, the APAC BPO market was valued at US$68.8 billion.
