Global BPO market to hit US$344 billion by 2026 – Acumen
In seven years, the global business process outsourcing market size is expected to hit USD 344.2 billion, says a report by Acumen Research and Consulting. According to the study, the BPO market is expected to grow at a CAGR of 8.3% through that period and will get a boost from global pressure to cut down on operational costs, or on those expenses incurred on professional advice or business activities that are not major lines of business for a company. The research indicates that a growing number of firms that have already outsourced these operations have improved their business because outsourcing has enabled them, in turn, to focus more on core capabilities. When this happens they are not only able to improve their cost competencies, but their resource management as well, according to the report.
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