Business Process Outsourcing Market size was valued at USD 290.5 Billion in 2023 and is poised to reach USD 901.8 Billion by the end of 2036, registering around 9.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of business process outsourcing is estimated at USD 264.3 Billion.
This growth in the market revenue is poised to be dominated by the growing adoption of AI in several nations. For instance, according to the UK government, over 15% of organizations in the UK will adopt AI technology by 2022 which equates to 432,000 companies. AI in BPO allows effective and precise data collection and analysis. Also, AI-powered technologies may gather, organize, and analyze enormous quantities of data. They give helpful insights for corporate projections, decision-making, and procedure improvement by identifying patterns and trends.
Author Credits: Abhishek Verma
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