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35 BPO Statistics & Trends & Facts in 2022

BPO is an abbreviation for business process outsourcing. It is contracting another firm to do a procedure that the company needs to function. To put it simply, when a company hires a third party to manage its non-core business operations, they engage in business outsourcing. Here are the latest BPO statistics, trends, and facts: 

General BPO Statistics

  • The worldwide business process outsourcing market was estimated at $245.9 billion in 2021 and is predicted to increase at a 9.1% compound annual growth rate (CAGR) from 2022 to 2030. (Grandviewresearch, 2021) 
  • The military industry accounts – the most significant outsourced transactions — earned $100 billion in income. (City University of New York, 2009) 
  • 40% of help desk employment in the banking business is outsourced. (Credit Donkey, 2015) 
  • Before the pandemic, the worldwide outsourcing market was worth $92.5 billion. (Statista, 2019) 
  • Every year, around 300,000 jobs are outsourced from the United States. (Zippia, 2022) 
  • To improve outsourcing, more than 93% of firms are contemplating or have already implemented the use of cloud services. (Deloitte, 2018) 
  • Data security is a key issue for 68% of outsourced organizations contemplating cloud computing. (Digitalguardian, 2020) 
  • The global financial services outsourcing market is valued at more than $130 billion. (Fortunly, 2021) 
  • 29% of businesses with fewer than 50 employees outsource, compared to 66% with 50 or more employees. (Fortunly, 2021) 
  • 24% of small businesses outsource to improve efficiency. (Fortunly, 2021) 
  • The most commonly outsourced jobs in small businesses are accounting and IT services. (Clutch, 2021) 

Why Do Companies Outsource Processes?

  • Outsourcing procedures help organizations focus on key processes, according to 57% of businesses. (Digital Learning, 2019) 
  • 78% of firms have a favorable connection with their outsourcing partners. (Omnirms, 2021)

What are the Outsourced Business Processes?

  • 37% of businesses outsource their accounting functions. (Clutch, 2019) 
  • IT services are the largest outsourced process, accounting for 37% of all outsourced operations. (Clutch, 2019) 
  • Following accounting and IT services, 34% of firms outsource Digital Marketing tasks. (Clutch, 2019) 
  • Lead creation and cold calling are two more operations that are frequently outsourced. (Sopro, 2021) 
  • To save money, 28% of businesses will outsource company development. (Classicinformatics, 2021) 

Outsourcing Statistics that Show the Impact of BPOs

  • Africa, the Middle East, and Europe account for most BPO income worldwide. During the fiscal year 2017-19, India received the most contracts in Africa, the Middle East, and Europe. (Data Bridge Market Research, 2021) 
  • Accenture alone paid $1.7 billion to BPOs worldwide in 2017. (Accenture, 2017) 
  • Manpower Group earned $22 billion in worldwide BPO revenue in 2018. According to Statista, 25% of it originated in the United States of America. (Statista, 2020) 
  • In 2016, the Philippines supported 16 of 20 offshore customer service initiatives. The country boasts an extensive reservoir of English-speaking talent. (ASEAN Briefing, 2017)  
  • With a literacy rate of 95%, the Philippines is presently the most popular destination for customer service outsourcing. (UNESCO report, 2018) 

Concerns About Outsourcing

  • When attempting to move to cloud infrastructure, 19.68% of businesses encounter problems with BPOs. (Customerthink, 2020) 
  • 35% of firms are always concerned about the data exchanged with outsourcing agencies. (Customerthink, 2020) 
  • Despite their reservations, 44% of chief intelligence officers are eager to interact and exchange data with outsourcing firms. (Customerthink, 2020) 

Statistics Showing a Bright Future for BPOs

  • 65% of organizations that use BPOs for application hosting are eager to increase their outsourcing investment. (Customerthink, 2020) 
  • In India alone, the information technology BPO business generated $154 billion in revenue in 2017-18. (Brandongaille, 2020) 
  • 57% of companies use business process outsourcing to concentrate on core issues, operations, and activities (Statista, 2021). 
  • Approximately 54% of businesses employ at least one third-party support staff to communicate with consumers (Fortunly, 2021). 
  • Currently, 74% of firms use the business process outsourcing industry for their information technology needs. (Statista, 2021) 
  • 65% of firms that utilize BPO for application hosting expect to raise their spending in the coming year. (Techtarget, 2020) 

Human Resources & Customer Service

  • Today, more than 40% of banking and financial institution support desk employment is outsourced. (Deloitte, 2021) 
  • 24% of businesses say that outsourcing HR and customer service allows them to focus on core operations. (Fortunly, 2021) 
  • Due to today’s business requirements, organizations spend significant time and money on accounting operations. As a result, accounting is the second most outsourced emphasis area, with 37% of organizations outsourcing their accounting procedures to BPO. (Clutch, 2019) 

Conclusion

These BPO statistics show that businesses see outsourcing as more efficient than employing and paying a full team. In some cases, a more specialized organization can perform a business task better than the company can handle it in-house 

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— Written by the<br> Shortlister Editorial Team

— Written by the
Shortlister Editorial Team

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