India’s BPO market to reach US$8.8bn in 2025
India’s Business Process Outsourcing (BPO) market is predicted to reach US$8.8 billion in 2025 due to the country’s efforts to liberalize regulatory guidelines for the BPO industry.
In addition, the country’s total market spending is forecasted to grow at a Compound Annual Growth Rate (CAGR) of 5.8% between 2020 and 2025, according to data and analytics company GlobalData. This expected increase is driven by a huge push for outsourcing knowledge-based and vertical-specific processes in the country.
Among all the analyzed outsourcing segments, the vertical-specific BPO services will account for the largest share of the overall enterprise BPO spending.
On the other hand, the enterprise spending on finance and accounting BPO segment will grow the fastest with a CAGR of 9.6% during the forecast period.
The combined spending from micro, small and medium enterprises is also expected to increase at a CAGR of 5.8% from 2020 to 2025.
