The North America Business Process Outsourcing Market would witness market growth of 8.2% CAGR during the forecast period (2023-2030).
The business process outsourcing market refers to the industry in which businesses delegate non-core functions, processes, and activities to external service providers to achieve cost savings, operational efficiencies, and strategic objectives. Its providers offer services across various functional areas, including customer service, technical support, finance and accounting, human resources, procurement, supply chain management, and IT services.
In addition, the market, often called BPO, represents a dynamic ecosystem where businesses delegate non-core functions, processes, and operations to specialized external service providers. This strategic decision allows organizations to streamline operations, optimize resource allocation, and drive operational excellence while focusing on their core competencies and priorities. The market encompasses a diverse ecosystem of vendors, ranging from large multinational corporations to niche service providers, offering a wide array of specialized services tailored to specific industries, verticals, and business functions.
The Canadian e-commerce landscape is witnessing the emergence of diverse platforms catering to various consumer needs and preferences which translates into higher demand of the business process outsourcing solution. As per the ITA, e-commerce retail trade sales in Canada amounted to an all-time high of US$3.82 billion in December 2020. 75% of Canadians, or more than 27 million people, used e-commerce in the country in 2022. In addition, by 2025, this percentage is projected to increase to 77.6%. The growing expansion of the e-commerce sector in Canada reflects a transformative shift in the landscape of the market. Therefore, the growing e-commerce sector is propelling the growth of the market.
The US market dominated the North America Business Process Outsourcing Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $105,554 million by 2030. The Canada market is experiencing a CAGR of 10.3% during (2023 - 2030). Additionally, The Mexico market would exhibit a CAGR of 9.7% during (2023 - 2030).
Free Valuable Insights: The Business Process Outsourcing Market is Predict to reach USD 467.1 billion by 2030, at a CAGR of 9.0%
Based on Deployment, the market is segmented into Traditional, and Business Process-as-a-Service. Based on Type, the market is segmented into Offshore, Nearshore, and Onshore. Based on End-use, the market is segmented into IT & Telecommunication, Healthcare, Manufacturing, BFSI, Retail & Others, and Government & Defense. Based on Service Type, the market is segmented into Customer Services, Human Resource, KPO, Sales & Marketing, Procurement & Supply, Chain, Training and Development Outsourcing, Finance & Accounting, Logistics, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
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