SAN FRANCISCO, September 12, 2017
SAN FRANCISCO, September 12, 2017 /PRNewswire/ --
The global knowledge process outsourcing (KPO) market is expected to reach USD 124.29 billion by 2025, according to a new report by Grand View Research, Inc. The outsourcing of knowledge processes facilitates the maximum utilization of resources at much lower costs. In addition, growing opportunities in legal process outsourcing and increasing applications in the IT & telecom, healthcare, and pharmaceutical segments are driving the market growth.
The presence of a large pool of resources in emerging economies is resulting in the growth of knowledge process outsourcing firms. Currently, companies prefer outsourcing work that involves critical processes and a large amount of time so that they can employ their resources in other revenue-generating tasks, which, in turn, saves the time and money of organizations.
The IT and telecom segment is expected to grow at a faster rate with a CAGR of 20.8% over the forecast period. Increasing data in the IT and telecom industries is resulting in larger usage of analytical tools and R&D in the field to extract useful information thereby resulting in growth of the market over the years.
The engineering and design segment has a large market share and is valued at USD 5.53 billion. Owing to technological advancement in the engineering sector, there is a high demand for outsourcing the designing part of the components. The Latin American region is expected to witness the fastest growth in the global KPO market due to the increasing emphasis laid on research and analysis of data by many large and medium size companies present in the region.
Browse full research report with TOC on "Knowledge Process Outsourcing (KPO) Market Analysis By Service, By Application (BFSI, Healthcare, IT & Telecom, Manufacturing, Pharmaceutical, Retail), By Region, And Segment Forecasts, 2014 - 2025" at: http://www.grandviewresearch.com/industry-analysis/knowledge-process-outsourcing-kpo-market
Further Key Findings From the Study Suggest:
Browse related reports by Grand View Research:
Grand View Research has segmented the Knowledge Process Outsourcing (KPO) market on the basis of service, application, and region:
Read Our Blog By Grand View Research: http://www.grandviewresearch.com/blogs/technology
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
Corporate Sales Specialist, USA
Grand View Research, Inc
Toll Free: 1-888-202-9519