Business Process Outsourcing - Thailand

Thailand

Revenue in the Business Process Outsourcing market is projected to reach US$0.64bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 5.59%, resulting in a market volume of US$0.84bn by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach US$15.94 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 demand for Business Process Outsourcing (BPO) services in Thailand has been steadily increasing in recent years, with the country emerging as a popular destination for outsourcing services.

Customer preferences: Thai companies are increasingly turning to BPO services to improve their operational efficiency and reduce costs. The most popular BPO services in Thailand include customer service, finance and accounting, and human resources. Companies are also looking for BPO providers who can offer a range of services and have expertise in their specific industry.

Trends in the market: One of the key trends in the BPO market in Thailand is the increasing adoption of automation and artificial intelligence (AI) technologies. This is particularly evident in the finance and accounting sector, where companies are using AI-powered software to streamline processes and reduce errors. Another trend is the growth of the healthcare BPO market, as Thailand seeks to position itself as a medical tourism hub.

Local special circumstances: Thailand's location and time zone make it an attractive destination for BPO services, particularly for companies in the Asia-Pacific region. The country also has a large pool of skilled workers, with many Thai nationals fluent in English and other languages. Additionally, the Thai government has been actively promoting the country as a destination for BPO services, offering incentives to companies that set up operations in the country.

Underlying macroeconomic factors: Thailand's economy has been growing steadily in recent years, with a focus on developing the country's service sector. This has created opportunities for BPO providers, particularly in areas such as finance and accounting, where there is a high demand for skilled workers. Additionally, Thailand's political stability and business-friendly environment have made it an attractive destination for foreign investors, who are increasingly looking to outsource services to the country.

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.