The knowledge process outsourcing (KPO) market is expected to grow faster in the coming years, according to a study published by Crystal Market Research. The study titled ‘KPO Market by Service and Application – Global Industry Analysis and Forecast to 2023’ states that by 2023 the KPO market will be worth US$122.59 billion, up from 2014’s US$18.85 billion. This is while registering itself at a compound annual growth rate of 23.13% during the forecast period. The expanding requirement for higher flexibility in Service Level Agreements (SLAs), and the rising interest in proficient administrations including managed services, research, and training are expected to help the development of the KPO industry. The lead players in the market are Moody’s Investors Service, HCL Technologies, Accenture, Mphasis, Wipro, McKinsey & Company, and Genpact. KPO refers to the outsourcing of core information-related business activities, which are competitively important or form an integral part of a company’s value chain.
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