Business Process Outsourcing - Brunei Darussalam

Brunei Darussalam

Revenue in the Business Process Outsourcing market is projected to reach US$18.25m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.91%, resulting in a market volume of US$22.11m by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach US$79.52 in 2024.
In global comparison, most revenue will be generated in the United States (US$146.30bn in 2024).

Key regions: United Kingdom, United States, Brazil, Japan, Netherlands

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Analyst Opinion

The Business Process Outsourcing (BPO) market in Brunei Darussalam has been steadily growing over the past few years.

Customer preferences: One of the primary reasons for the growth of the BPO market in Brunei Darussalam is the increasing demand for cost-effective and efficient business processes. Many companies in the country are looking to outsource their non-core business functions to third-party service providers in order to reduce costs and improve productivity. Additionally, there is a growing preference for outsourcing among businesses that want to focus on their core competencies and leave the non-core functions to experts.

Trends in the market: One of the key trends in the BPO market in Brunei Darussalam is the increasing adoption of cloud-based services. Cloud-based BPO solutions offer several benefits, including scalability, flexibility, and cost-effectiveness. As a result, more and more companies in the country are turning to cloud-based BPO providers for their business needs.Another trend in the BPO market in Brunei Darussalam is the growing popularity of knowledge process outsourcing (KPO). KPO involves outsourcing high-value, knowledge-based functions such as research and development, data analysis, and financial analysis. With a highly-educated workforce and a growing number of skilled professionals in the country, Brunei Darussalam is well-positioned to become a hub for KPO services.

Local special circumstances: One of the unique aspects of the BPO market in Brunei Darussalam is the government's push to develop the country's digital economy. The government has launched several initiatives aimed at promoting the growth of the country's ICT sector, including the establishment of a digital innovation hub and the development of a national broadband network. These initiatives are expected to create new opportunities for BPO service providers in the country.

Underlying macroeconomic factors: The growth of the BPO market in Brunei Darussalam is also being driven by several macroeconomic factors. The country has a stable political environment and a well-developed infrastructure, making it an attractive destination for foreign investors. Additionally, the government's efforts to diversify the economy away from its dependence on oil and gas are creating new opportunities for businesses in the country. As a result, many companies are looking to outsource their business processes to Brunei Darussalam in order to take advantage of the country's favorable business environment.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.