Contrary to many other sectors in the service industry, the total value of the global business process outsourcing (BPO) market has been consistently trending down from a peak contract value of 36.5 billion U.S. dollars in 2012 to 26 billion U.S. dollars in 2019.
Business process outsourcing
Business process outsourcing is where a third party is contracted to assume operational responsibility for a specific business process. Included are many different business processes, with human resources, finance and accounting, and supply chain management being the most common. IT outsourcing is generally considered separate to BPO, however sometimes it is considered a BPO service.
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Information Services Group. (January 14, 2020). Total contract value of the business process outsourcing (BPO) market worldwide from 2000 to 2019 (in billion U.S. dollars) [Graph]. In Statista. Retrieved August 25, 2024, from https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/
Information Services Group. "Total contract value of the business process outsourcing (BPO) market worldwide from 2000 to 2019 (in billion U.S. dollars)." Chart. January 14, 2020. Statista. Accessed August 25, 2024. https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/
Information Services Group. (2020). Total contract value of the business process outsourcing (BPO) market worldwide from 2000 to 2019 (in billion U.S. dollars). Statista. Statista Inc.. Accessed: August 25, 2024. https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/
Information Services Group. "Total Contract Value of The Business Process Outsourcing (Bpo) Market Worldwide from 2000 to 2019 (in Billion U.S. Dollars)." Statista, Statista Inc., 14 Jan 2020, https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/
Information Services Group, Total contract value of the business process outsourcing (BPO) market worldwide from 2000 to 2019 (in billion U.S. dollars) Statista, https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/ (last visited August 25, 2024)
Total contract value of the business process outsourcing (BPO) market worldwide from 2000 to 2019 (in billion U.S. dollars) [Graph], Information Services Group, January 14, 2020. [Online]. Available: https://www.statista.com/statistics/190150/industrywide-contract-value-business-process-outsourcing/