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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Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Apr 2024
Source: Statista Market Insights
Notes: The chart “Comparable Estimates” shows the forecasted development of the selected market from different sources. Please see the additional information for methodology and publication date.
Most recent update: Apr 2024
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Apr 2024
Source: Statista Market Insights
Most recent update: Mar 2024
Source: Statista Market Insights
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.
Notes: Data was converted from local currencies using average exchange rates of the respective year.
Most recent update: Apr 2024
Sources: Statista Market Insights, Financial Statements of Key Players, National statistical offices
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.Notes: Based on data from IMF, World Bank, UN and Eurostat
Most recent update: Sep 2024
Source: Statista Market Insights