The report on the Knowledge Process Outsourcing (KPO) market includes future industry Trends, Size, Share, Past, current data and deep analysis, and forecast. This market offers a coordinated and orderly methodology for the foremost important aspects that have influenced the market within the past and also the forthcoming market prospects on which the organizations can rely on before investing. It furnishes with an inexpensive examination of the marketplace for better decision-making and assessment to put resources into it. The report analyses the weather and a whole detailed outlook of the foremost players that are likely to feature to the demand within the worldwide Knowledge Process Outsourcing (KPO) market within the upcoming years.
Main features of the
report:
• To provide detailed
analysis of the market structure together with forecast of the varied segments
and sub-segments of the world Knowledge Process Outsourcing (KPO) Market.
• A perfect background
analysis, which has an evaluation of the parent market.
• Important changes in
market dynamics
• Track and analyse
competitive developments like joint ventures, strategic alliances, mergers and
acquisitions, new product developments, and research and developments within
the global Knowledge Process Outsourcing (KPO) Market.
• Emerging niche segments
and regional markets
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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.
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