Business Process Outsourcing - LATAM
LATAM- The Business Process Outsourcing market in LATAM is expected to experience significant revenue growth, with projections indicating that it will reach a staggering US$18.12bn by 2025.
- This growth is predicted to continue at a compound annual growth rate (CAGR 2025-2029) of 4.56%, leading to a market volume of US$21.66bn by 2029.
- Interestingly, the average Spend per Employee in the Business Process Outsourcing market is projected to be US$58.13 in 2025.
- This indicates that companies in LATAM are focusing on cost efficiency and optimizing their operations within this sector.
- In terms of global comparison, United States is expected to generate the highest revenue in the Business Process Outsourcing market, with an estimated amount of US$152.81bn in 2025.
- This highlights the dominance of the US market in this industry.
- In LATAM, the Business Process Outsourcing market is rapidly growing, with countries like Mexico and Brazil emerging as key players.
- Key regions:
- China,
- Netherlands,
- Japan,
- Brazil,
- Germany
Definition :
The Business Process Outsourcing (BPO) market refers to the transfer of entire business processes or individual activities from a company to a third party and is often IT based. BPO covers a wide variety of business processes, usually either in the back office (e.g., human resources) or in the front office (e.g., customer service in call centers). A distinction is made between horizontal and vertical outsourcing. Horizontal BPO combines function-centric as well as cross-sector and cross-industry services, such as human resources management or payroll accounting. Vertical BPO, on the other hand, focuses on specialized services and is especially appealing to customers from the financial services industry, the healthcare sector, the manufacturing industry, or the retail sector.
Additional Information:
The Business Process Outsourcing market comprises revenues, revenue change, average spend per employee, and the market shares of the different business sectors. Market values represent revenues that are generated by primary vendors either directly or through distribution channels at the manufacturer price level (excluding VAT). Reported market revenues include spending by enterprises (B2B) and governments (B2G). Detailed definitions of each market can be found on the respective page where the market data is displayed. Key players in the market include Accenture, Cognizant, Wipro, and IBM.
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- Back office process outsourcing, such as Genpact, Concentrix, HCL Technologies, Sutherland Global Services, EXL Services, Remote Coworker, and TechSpeed
- Front office process outsourcing, such as IBM Global Services, Hewlett Packard Enterprise (HPE), Sitel Group, Teleperformance, and Qualfon
- Application outsourcing, such as ScienceSoft, Arcanys, and SumatoSoft
- Administration outsourcing, such as Conduent, Genpact, and ADP (Automatic Data Processing)
- Infrastructure outsourcing, such as IBM Global Technology Services, Wipro Infrastructure Engineering, and Cognizant Infrastructure Services
