Business Process Outsourcing - Burkina Faso

Burkina Faso

Revenue in the Business Process Outsourcing market is projected to reach US$35.77m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 7.14%, resulting in a market volume of US$50.51m by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach US$3.97 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

Market

Region

Region comparison

Currency

Analyst Opinion

The Business Process Outsourcing (BPO) market in Burkina Faso has been steadily developing over the past few years.

Customer preferences: Burkina Faso's BPO market is mainly driven by the demand for cost-effective and high-quality services. As a landlocked country, Burkina Faso has limited resources, which has led to a growing interest in outsourcing services. The country's BPO market is highly competitive, and companies are constantly looking for ways to improve their services to meet the changing needs of their clients.

Trends in the market: One of the main trends in Burkina Faso's BPO market is the increasing demand for data entry services. This is due to the country's growing digitalization efforts, which has led to an increase in the amount of data that needs to be processed. Another trend is the rise in demand for customer service outsourcing, particularly in the telecommunications sector. This is due to the increasing number of mobile phone users in the country.

Local special circumstances: Burkina Faso's BPO market is still relatively small compared to other African countries, such as Kenya and South Africa. However, the country's strategic location and low labor costs make it an attractive destination for outsourcing services. The government has also implemented policies to promote the growth of the BPO industry, such as tax incentives and the establishment of technology parks.

Underlying macroeconomic factors: Burkina Faso's economy is heavily dependent on agriculture, which accounts for a significant portion of the country's GDP. However, the government has been implementing policies to diversify the economy, with a focus on the services sector. The growth of the BPO industry is seen as a key driver of this diversification effort. Additionally, the country's young and growing population provides a large pool of potential employees for the BPO industry.

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.