Knowledge
Process Outsourcing (KPO) Market strategic research study
offers company accounts, industry investors, and industry members with
consequential insights to enable them to make reliable strategic decisions
regarding the opportunities in the global market.
Knowledge Process
Outsourcing (KPO) Market research report offers detail overview of industry
with all the requisite data to support tactical business decisions and come up
with strategic growth plans. This study also proposes a comprehensive insight
into the development policies and plans in addition to manufacturing processes
and cost structures.
KEY BENEFITS
1. Knowledge Process Outsourcing (KPO) market
analysis based on current industry scenario and expected future trends to
enable stakeholders take strategic decisions.
2. Analysis of the factors impacting the Knowledge
Process Outsourcing (KPO) market to understand business opportunities.
3. Identification of key investment pockets
for various applications, type and geographies.
4. Identification of the Knowledge Process
Outsourcing (KPO) market top key players and their strategic moves.
5. Evaluation of Knowledge Process
Outsourcing (KPO) market trends to provide deep-dive intelligence into every
market segment.
6. Competitive analysis to effectively plan
and execute a business plan.
7. Knowledge Process Outsourcing (KPO) market
micro-level analysis based on application, type and geography.
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The global Knowledge
Process Outsourcing (KPO) market size was valued at USD 28.94 billion in 2016
and is anticipated to reach USD 124.29 billion by 2025. The huge availability
of data is one of the key factors that have enabled the growth as it needs to
be analyzed and processed. The KPO market also observed the transformation of
the market into a consultative model. Though, rules set by several governments
regarding compliance and legal clauses are one of the major challenges faced by
the global KPO market.
With global perceptions on
outsourcing business activities, companies are looking for more specialist and
analytical expertise, hence KPOs are seen to be gradually fulfilling such
requirement of enterprises that are keen to outsource third party service
providers. With competitive market scenario and increasing globalization the
time for commercialization of services and products are thinning down. For
example, in BFSI capital markets, with the modification in demand for complex
global products, investment managers are needed for making faster strategic
decisions. This has driven the demand for middle office outsourcing as it has
improved from cost driven abilities to strategic platforms, thus letting
investment managers to perform business strategies easily.
With respect to end users,
the global market for KPO is segmented into Healthcare, BFSI, and Retail.
Healthcare sector is the fastest growing segments in the outsourcing for
knowledge intensive services. Bio-tech and pharmaceutical are the sub
industries of healthcare segment for drug discovery and clinical research.
Types of services carried out by KPO include consultancy, research and
development, legal and medical services, intellectual property research for
patent applications, market research, business research, and training.
Geographically the global
market for KPO is segmented into North America, Asia Pacific, Middle East and
Asia, Europe and Latin America. Emerging economies such as Latin America and Asia
Pacific have been able to appeal KPO service providers owing to the advantages
such as favorable business environment, availability of trained professionals
combined with high productivity, and low labor costs. These advantages are not
prevailing in developed countries, and as a result, many companies are setting
up businesses in developing markets.
The future forecasts for
KPO in India are immense as KPO is applicable to several industry sectors in
which India’s technically educated professionals and highly skilled workers
have developed particularized expertise. These sectors include engineering,
law, education, publishing, media, entertainment, industrial machinery,
textiles, automotive, aerospace, software, electronics, insurance,
biotechnology, healthcare, pharmaceuticals, and finance.
Although India has
traditionally been a KPO destination for Australian, British and North American
companies, a growing number of European companies are looking to Eastern
Europe, especially the Baltic countries, to satisfy their KPO needs. Several
U.S. businesses have already made successful ventures into the KPO field in
India to leverage India’s knowledge class including Caterpiller, General
Motors, Ford, United Airlines, Morgan Stanley, Reuters, Goldman Sachs, McKinsey,
Citigroup, JP Morgan, Motorola, Philips, Sun Microsystems, Texas Instruments,
Cisco, Oracle, Intel, Microsoft, HP, IBM, and GE. In the pharmaceutical
industry, global pharmaceutical firms such as Eli Lilly, GlaxoSmithKline,
AstraZeneca, Novartis, and Pfizer have moved part of their clinical drug
testing to India to tap India’s diverse and vast population of highly skilled
and low wage demanding labors. This can considerably accelerate the time to
market for new drugs, and offers potential cost savings of up to 50.0 %
relative to the U.S.
The key vendors for global
KPO market include Wipro, RR Donnelley & Sons, Genpact, Mphasis, while
other prominent vendors include Cognizant, Adventity, Syntel, The smart cube,
Mu Sigma, Aranca, Accenture, EXL Services, Inductis, Infosys, McKinsey, Pangea3,
Pulsar knowledge center, Oracle, SAP, TechBooks, Grail Research, Moody's, TCS,
WNS, EXL Service, Pipal Research, RocSearch, and IP Pro.
Genpact are a global leader
in digitally powered business process management and services. They architect
the Lean Digital enterprise through their patented Smart Enterprise Processes
framework that reimagines their clients operating models end-to-end, including
the back and middle offices. This creates intelligent operations that help in
transforming, designing and running. The impact on clients is a high return on
investments through business agility, growth and efficiency.
Know
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