Business Process Outsourcing (BPO) enables industries in outsourcing their responsibilities or operations of a process to third-party service providers. The front office BPO services are services related to customer interactions such as inbound or outbound sales, help desks, customer service centres, and telemarketing. The front office BPO services also include document management services such as accounting and finance.
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The practice adopted by prominent industries of hiring an external organisation for performing their business functions at front end, such as troubleshooting, and data management has witnessed a substantial upsurge in the recent past. The front office BPO services enable these industries in saving time, and operational & labour costs.
Industries have huge expertise on design & development of their products, but fall short of customer services owing to limited bandwidth and lack of access to resources unavailable internally. This further leads the industries towards outsourcing their operations to a front office BPO, which leverages its global knowledge base in accessing world class capabilities.
Several predominant industries are focusing on offshoring their operations to front office BPOs for expansion of their businesses, by gaining access to new markets, and relocating their product base or point of service delivery to areas closer to their end-users. Offshoring enables the industries in mitigating risks, with external companies handling their business functions that are challenging to manage & control, meanwhile realising their benefits.
The global market for front office BPO services has fared well over the recent past, supported by rapid economic expansion and soaring revenue in finance & accounting, human resource, insurance, and customer relations management.
A number of competitive benefits are being brought by outsourcers while aiming to win new businesses, with the most lucrative among these being emergence of data protection provisions and digital channel management capabilities. Among decision makers, outsourcing is however considered to be unfavourable, which in turn is likely to limit market expansion efforts.
According to a latest research study developed by Future Market Insights (FMI), the global front office BPO services market will exhibit a high single-digit CAGR during the forecast period 2017 to 2022. Revenues from the global market for front office BPO services are estimated to exceed US$ 200,000 Million by 2022-end.
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Region-wise, the front office BPO services market is expected to remain the most lucrative in North America, followed by Europe, in terms of revenues. Revenues from the market in North America are estimated to reach approximately US$ 70,000 Million by 2022-end. However, the market in North America and Europe are projected to reflect relatively lower CAGRs than all the other regional segments through 2022.
On the basis of service, revenues from front office BPO services for document management are expected to witness a healthy increase, to account for over one-third share of the market throughout the forecast period. Document management services are expected to create an absolute $ opportunity of over US$ 16,000 Million between 2017 and 2022.
Manufacturing, BFSI, and healthcare & pharmaceuticals will remain the most lucrative verticals in the global front office BPO services market. Revenues from front office BPO services for these verticals are projected to collectively account for over half share of the market during the forecast period.
FMI’s report has offered insights on key companies operating in the global front office BPO services market, which include Xerox Corporation, Hewlett Packard Enterprise Co., Convergys Corp., Sitel Worldwide Corporation, IBM Global Services, Williams Lea Limited, Ricoh USA, Inc., Atento S.A., Alliance Data Systems Corporation, and TeleTech Holdings, Inc.
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The growth outlook for the front office BPO services market is predicted to advance at a CAGR of 7.4% from 2022-to 2032.
The North American regions are anticipated to represent the largest share of the front office BPO services market during the forecast period.
The front office BPO services market is likely to hold a valuation of US$ 408387.85 million by 2032.
The manufacturing, BFSI, and healthcare & pharmaceuticals industry sectors are likely to remain the key drivers in the front office BPO services market.
1. Global Front Office BPO Services Market - Executive Summary 2. Global Front Office BPO Services Market Overview 2.1. Introduction 2.1.1. Global Front Office BPO Services Market Taxonomy 2.1.2. Global Front Office BPO Services Market Definition 2.2. Global Front Office BPO Services Market Size (US$ Mn) and Forecast, 2012-2022 2.2.1. Global Front Office BPO Services Market Y-o-Y Growth 2.3. Global Front Office BPO Services Market Dynamics 2.4. Vendor Analysis 2.5. IT Priorities-BPO Services 2.6. ICT BPO Spending 2.7. Value Chain Analysis 2.8. Regulations in BPO Industry 2.9. Key Participants Market Presence(Intensity Map) 3. Global Front Office BPO Services Market Analysis and Forecast By Service Type 3.1. Global Front Office BPO Services Market Size and Forecast By Service Type, 2012-2022 3.1.1. Customer Management Services Market Size and Forecast, 2012-2022 3.1.1.1. Revenue (US$ Mn) Comparison, By Region 3.1.1.2. Market Share Comparison, By Region 3.1.1.3. Y-o-Y growth Comparison, By Region 3.1.2. Document Management Services Market Size and Forecast, 2012-2022 3.1.2.1. Revenue (US$ Mn) Comparison, By Region 3.1.2.2. Market Share Comparison, By Region 3.1.2.3. Y-o-Y growth Comparison, By Region 4. Global Front Office BPO Services Market Analysis and Forecast By Vertical 4.1. Global Front Office BPO Services Market Size and Forecast By Vertical, 2012-2022 4.1.1. BFSI Market Size and Forecast, 2012-2022 4.1.1.1. Revenue (US$ Mn) Comparison, By Region 4.1.1.2. Market Share Comparison, By Region 4.1.1.3. Y-o-Y growth Comparison, By Region 4.1.2. Manufacturing Market Size and Forecast, 2012-2022 4.1.2.1. Revenue (US$ Mn) Comparison, By Region 4.1.2.2. Market Share Comparison, By Region 4.1.2.3. Y-o-Y growth Comparison, By Region 4.1.3. Healthcare & Pharmaceuticals Market Size and Forecast, 2012-2022 4.1.3.1. Revenue (US$ Mn) Comparison, By Region 4.1.3.2. Market Share Comparison, By Region 4.1.3.3. Y-o-Y growth Comparison, By Region 4.1.4. Retail & Consumer Goods Market Size and Forecast, 2012-2022 4.1.4.1. Revenue (US$ Mn) Comparison, By Region 4.1.4.2. Market Share Comparison, By Region 4.1.4.3. Y-o-Y growth Comparison, By Region 4.1.5. IT & Telecommunication Market Size and Forecast, 2012-2022 4.1.5.1. Revenue (US$ Mn) Comparison, By Region 4.1.5.2. Market Share Comparison, By Region 4.1.5.3. Y-o-Y growth Comparison, By Region 4.1.6. Aerospace & Defense Market Size and Forecast, 2012-2022 4.1.6.1. Revenue (US$ Mn) Comparison, By Region 4.1.6.2. Market Share Comparison, By Region 4.1.6.3. Y-o-Y growth Comparison, By Region 4.1.7. Education Market Size and Forecast, 2012-2022 4.1.7.1. Revenue (US$ Mn) Comparison, By Region 4.1.7.2. Market Share Comparison, By Region 4.1.7.3. Y-o-Y growth Comparison, By Region 4.1.8. Services & Logistics Market Size and Forecast, 2012-2022 4.1.8.1. Revenue (US$ Mn) Comparison, By Region 4.1.8.2. Market Share Comparison, By Region 4.1.8.3. Y-o-Y growth Comparison, By Region 4.1.9. Other Vertical Market Size and Forecast, 2012-2022 4.1.9.1. Revenue (US$ Mn) Comparison, By Region 4.1.9.2. Market Share Comparison, By Region 4.1.9.3. Y-o-Y growth Comparison, By Region 5. Global Front Office BPO Services Market Analysis and Forecast By Region 5.1. Global Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.1. North America Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.1.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.1.2. Revenue (US$ Mn) Comparison, By Vertical 5.1.2. Latin America Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.2.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.2.2. Revenue (US$ Mn) Comparison, By Vertical 5.1.3. Europe Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.3.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.3.2. Revenue (US$ Mn) Comparison, By Vertical 5.1.4. Japan Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.4.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.4.2. Revenue (US$ Mn) Comparison, By Vertical 5.1.5. APEJ Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.5.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.5.2. Revenue (US$ Mn) Comparison, By Vertical 5.1.6. MEA Front Office BPO Services Market Size and Forecast, 2012-2022 5.1.6.1. Revenue (US$ Mn) Comparison, By Service Type 5.1.6.2. Revenue (US$ Mn) Comparison, By Vertical 6. North America Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 6.1. US Front Office BPO Services Market Size and Forecast, 2012-2022 6.1.1. Revenue (US$ Mn) Comparison, By Service Type 6.1.2. Revenue (US$ Mn) Comparison, By Vertical 6.2. Canada Front Office BPO Services Market Size and Forecast, 2012-2022 6.2.1. Revenue (US$ Mn) Comparison, By Service Type 6.2.2. Revenue (US$ Mn) Comparison, By Vertical 7. Latin America Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 7.1. Brazil Front Office BPO Services Market Size and Forecast, 2012-2022 7.1.1. Revenue (US$ Mn) Comparison, By Service Type 7.1.2. Revenue (US$ Mn) Comparison, By Vertical 7.2. Mexico Front Office BPO Services Market Size and Forecast, 2012-2022 7.2.1. Revenue (US$ Mn) Comparison, By Service Type 7.2.2. Revenue (US$ Mn) Comparison, By Vertical 7.3. Argentina Front Office BPO Services Market Size and Forecast, 2012-2022 7.3.1. Revenue (US$ Mn) Comparison, By Service Type 7.3.2. Revenue (US$ Mn) Comparison, By Vertical 8. Europe Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 8.1. Germany Front Office BPO Services Market Size and Forecast, 2012-2022 8.1.1. Revenue (US$ Mn) Comparison, By Service Type 8.1.2. Revenue (US$ Mn) Comparison, By Vertical 8.2. UK Front Office BPO Services Market Size and Forecast, 2012-2022 8.2.1. Revenue (US$ Mn) Comparison, By Service Type 8.2.2. Revenue (US$ Mn) Comparison, By Vertical 8.3. France Front Office BPO Services Market Size and Forecast, 2012-2022 8.3.1. Revenue (US$ Mn) Comparison, By Service Type 8.3.2. Revenue (US$ Mn) Comparison, By Vertical 8.4. Spain Front Office BPO Services Market Size and Forecast, 2012-2022 8.4.1. Revenue (US$ Mn) Comparison, By Service Type 8.4.2. Revenue (US$ Mn) Comparison, By Vertical 8.5. Italy Front Office BPO Services Market Size and Forecast, 2012-2022 8.5.1. Revenue (US$ Mn) Comparison, By Service Type 8.5.2. Revenue (US$ Mn) Comparison, By Vertical 8.6. Nordic Front Office BPO Services Market Size and Forecast, 2012-2022 8.6.1. Revenue (US$ Mn) Comparison, By Service Type 8.6.2. Revenue (US$ Mn) Comparison, By Vertical 9. Japan Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 9.1. Japan Front Office BPO Services Market Size and Forecast, 2012-2022 9.1.1. Revenue (US$ Mn) Comparison, By Service Type 9.1.2. Revenue (US$ Mn) Comparison, By Vertical 10. APEJ Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 10.1. China Front Office BPO Services Market Size and Forecast, 2012-2022 10.1.1. Revenue (US$ Mn) Comparison, By Service Type 10.1.2. Revenue (US$ Mn) Comparison, By Vertical 10.2. India Front Office BPO Services Market Size and Forecast, 2012-2022 10.2.1. Revenue (US$ Mn) Comparison, By Service Type 10.2.2. Revenue (US$ Mn) Comparison, By Vertical 10.3. Malaysia Front Office BPO Services Market Size and Forecast, 2012-2022 10.3.1. Revenue (US$ Mn) Comparison, By Service Type 10.3.2. Revenue (US$ Mn) Comparison, By Vertical 10.4. Thailand Front Office BPO Services Market Size and Forecast, 2012-2022 10.4.1. Revenue (US$ Mn) Comparison, By Service Type 10.4.2. Revenue (US$ Mn) Comparison, By Vertical 10.5. Singapore Front Office BPO Services Market Size and Forecast, 2012-2022 10.5.1. Revenue (US$ Mn) Comparison, By Service Type 10.5.2. Revenue (US$ Mn) Comparison, By Vertical 10.6. Australia Front Office BPO Services Market Size and Forecast, 2012-2022 10.6.1. Revenue (US$ Mn) Comparison, By Service Type 10.6.2. Revenue (US$ Mn) Comparison, By Vertical 11. MEA Front Office BPO Services Market Analysis and Forecast, By Country, 2012-2022 11.1. GCC Countries Front Office BPO Services Market Size and Forecast, 2012-2022 11.1.1. Revenue (US$ Mn) Comparison, By Service Type 11.1.2. Revenue (US$ Mn) Comparison, By Vertical 11.2. South Africa Front Office BPO Services Market Size and Forecast, 2012-2022 11.2.1. Revenue (US$ Mn) Comparison, By Service Type 11.2.2. Revenue (US$ Mn) Comparison, By Vertical 11.3. Nigeria Front Office BPO Services Market Size and Forecast, 2012-2022 11.3.1. Revenue (US$ Mn) Comparison, By Service Type 11.3.2. Revenue (US$ Mn) Comparison, By Vertical 11.4. Israel Front Office BPO Services Market Size and Forecast, 2012-2022 11.4.1. Revenue (US$ Mn) Comparison, By Service Type 11.4.2. Revenue (US$ Mn) Comparison, By Vertical 12. Global Front Office BPO Services Market Company Share, Competition Landscape and Company Profiles 12.1. Company Share Analysis 12.2. Competition Landscape 12.3. Company Profiles 12.3.1. Xerox Global Services 12.3.2. Hewlett Packard Enterprise Co. 12.3.3. Convergys Corp. 12.3.4. Sitel Worldwide Corporation 12.3.5. IBM Global Services 12.3.6. Williams Lea Group Limited 12.3.7. Ricoh Company, Ltd. 12.3.8. Atento S.A. 12.3.9. Alliance Data Systems Corporation 12.3.10. TeleTech Holdings, Inc. 13. Research Methodology 14. Secondary and Primary Sources 15. Assumptions and Acronyms 16. Disclaimer
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Front Office BPO Services Market
