With the emergence and long-term Impact of COVID-19, Global Finance and Accounting Business Process Outsourcing Market to reach USD 112.42 Billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Finance and Accounting Business Process Outsourcing Market points towards a potential rise to USD 112.42 Billion by 2030. Finance and Accounting Business Process Outsourcing (F&A BPO) refers to the outsourcing of financial and accounting processes to a third-party service provider. These services include tasks such as bookkeeping, accounts payable and receivable, payroll processing, financial reporting, tax preparation, and other related functions.
F&A BPO helps businesses to reduce their operational costs, improve process efficiency, and focus on their core competencies. The major driving factors for the Global Finance and Accounting Business Process Outsourcing Market are the rising demand for the cost-effective and reliable services and the growing demand for Knowledge Process Outsourcing (KPO). Moreover, rising key initiatives for the key market players is creating lucrative growth opportunity for the market over the forecast period.
Geographically, the global Finance and Accounting Business Process Outsourcing market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America has been the dominant region in the F&A BPO market, owing to the presence of several large players and high demand for outsourcing services. The region is expected to continue leading the market due to the growing adoption of digital technologies in the financial sector and the need for cost optimization among businesses.
The Asia Pacific region is also expected to experience significant growth in the F&A BPO market, primarily driven by the increasing adoption of outsourcing services among small and medium-sized enterprises (SMEs) and the growing number of outsourcing service providers in the region. Countries such as India, China, and the Philippines are the major outsourcing hubs in the region, with a large pool of skilled and cost-effective talent.
The global Finance and Accounting Business Process Outsourcing market is highly competitive owing to the presence of several key players such as Accenture Infosys Limited (Infosys BPM) HCL Technologies Limited Wipro Limited Capgemini Sutherland IBM Corporation Tata Consultancy Services Limited Genpact Fiserv, Inc., and others.
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Key findings of the study suggest:
- Global Finance and Accounting Business Process Outsourcing Market is anticipated to grow with a healthy growth rate of more than 9.00% over the forecast period 2023-2030.
- In the Enterprise-size segment, Small & Medium Enterprises (SMEs) emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to the the presence of several large players and high demand for outsourcing services. The region is expected to continue leading the market due to the growing adoption of digital technologies in the financial sector and the need for cost optimization among businesses.
- Asia Pacific is expected to grow at higher rate followed by Europe during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Service:
- Order-to-cash
- Procure-to-pay
- Record-to-report
- Source-to-pay
- Multi Processed
By Enterprise-size:
- Small & Medium Enterprises (SMEs)
- Large Enterprises
By Vertical:
- BFSI
- Healthcare
- Manufacturing
- Energy & Utilities
- Travel & Logistics
- IT & Telecommunications
- Media & Entertainment
- Retail
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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