The Knowledge Process Outsourcing (KPO) Market was worth USD 18.85 billion in 2014 and is expected to reach approximately USD 122.59 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 23.13% during the forecast period. The expanding requirement for higher flexibility in Service Level Agreements (SLAs) and simplicity in change administration hones alongside cost slicing is expected to help the development of KPO industry. Outsourcing critical processes engaged with their system empowers ventures to spare a lot of time and money. The rising interest for proficient administrations, for example, managed services, research, training, and upkeep is further instrumental in quickening the business development.
Service Outlook and Trend Analysis
Legal process outsourcing is evaluated to rise as the quickest developing administration fragment in the market, attributable to the effectiveness of administrations gave and lessening in cost. The section is anticipated to develop significantly in the following years. Legal functions that are typically outsourced incorporate legitimate analytics, litigation management, and contract management.
Application Outlook and Trend Analysis
The selection of knowledge process outsourcing services in IT and telecom division is picking up footing. The portion is ventured to develop significantly throughout the following years. Inferable from broad database in the IT and Telecom area that is divided and expanding over some stretch of time is anticipated to quicken the market development over the conjecture time frame.
Regional Outlook and Trend Analysis
The Asia Pacific locale was esteemed at USD 22.23 billion in the year 2016 that ruled the market with a most extreme number of KPO firms and consultancies in the district. This can be ascribed to the fast off-shoring of critical procedures and expert administrations. The expanding existence of skilled experts, for example, architects, engineers, attorneys in rising economies, for example, China, India and Philippines, is driving the market development.
The leading players in the market are Moody's Investors Service, HCL Technologies, Accenture, Mphasis, Wipro, EXL Service Hadapsar, McKinsey & Company and Genpact. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
The Knowledge Process Outsourcing (KPO) Market is segmented as follows-
Engineering & Design
Legal Process Outsourcing
Research & Development Outsourcing
Analytics & Market Research
Operations & Supply Chain Analytics
Customer & Marketing Analytics
Competitive Intelligence & Industry Analysis
IT & Telecom
Rest of Europe
Rest of Asia-Pacific
Rest of South America
Middle East and Africa
Rest of MEA
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?