Sales And Marketing Business Process Outsourcing Market Size, Share & Trends Analysis Report Service Type (Sales, Marketing), By End-use (BFSI, Healthcare), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global sales and marketing business process outsourcing market size reached USD 28.65 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030. The increasing popularity of cloud computing has significantly boosted the sales and business outsourcing industry. Cloud computing enables business process outsourcing (BPO) solution vendors to achieve higher production speeds, better quality control, and reduce costs.

Cloud computing also ensures universal access, flexible provisioning, and instant computing support & system access for various business requirements. All the benefits mentioned above of cloud computing have contributed to the market's growth during the forecast period. Cloud computing also facilitates various transactional processes, including application processing, order fulfillment, collection, and billing, among others. All these attributes are crucial for companies that deal with a large amount of data.

Several businesses have been adopting cloud computing in sales and marketing business process outsourcing to fulfill these requirements. For instance, in January 2023, Genesys, one of the pioneers in experience orchestration, partnered with Amazon Web Services, Inc. to assist organizations in creating a unique experience through deeper technology coordination and intelligent, automated solutions.

Genesys Cloud CX platform is a cloud-native solution built on Amazon Web Services, Inc. By using this platform, over 4,000 business process outsourcing solution providers today, enable their clients to focus valuable resources on core activities such as operations, supply chain, and management. This trend has been on the rise regarding the high competition in the market, as companies are looking to expand their customer base and market presence, resulting in outsourcing non-core activities.

Moreover, the companies in the sales and marketing BPO industry offer solutions that cater to various sectors, including BFSI, retail, manufacturing, and healthcare. Businesses involved in multiple industries are also opting to outsource sales and marketing as part of their corporate strategy, which has also been fueling the growth of the sales and marketing BPO industry during the forecast period.

The BPO industry has witnessed high growth in emerging economies such as India and the Philippines. Some such countries have become major hubs for outsourcing work, including IT services, financial services, and call centers. A high number of call centers in these countries has significantly boosted outsourcing sales processes. The business process outsourcing and management ecosystem have been contributing to increased employment in countries such as India and the Philippines.

For instance, in February 2022, according to the India Brand Equity Foundation (IBEF), India's Business Process Management (BPM) industry employed more than 1.4 million people. The primary factors for the growth of emerging economies are low labor costs and many English speakers, among others.  

North America is home to some major companies in the sales and marketing business process outsourcing market, including Amdocs, CBRE Group Inc., NCR Corporation, and TTEC Holdings, Inc. The high number of companies has resulted in the broader adoption of sales and marketing BPO solutions and services across various businesses and industries in the country.

Companies that outsource different functions might choose to outsource specific functions depending upon their requirements, which range from legal services, IT, sales, marketing, and logistics, among others. Reducing expenses such as labor and training costs are among the few key benefits of outsourcing.

Companies in the sales and marketing BPO industry engage in strategic partnerships to offer better solutions to gain a higher market share. These strategic initiatives range from alliance, collaboration, and acquisition. For instance, in January 2023, TTEC Holdings, Inc. announced a strategic partnership with Google Cloud to utilize Google's AI-powered Contact Center-as-a-Service (CCaaS).

The CCaaS streamlines real-time customer interactions across all digital and live channels. Businesses operating in various industries have been on the path of digitalization owing to the increased demand for personalized services, which require the service providers to increase customer value, optimize data management, and expand cross-selling opportunities, among others.

The increased need has resulted in the higher adoption of BPO services, including sales and marketing, which is expected to play a crucial role in the development of sales and marketing BPO industry during the forecast period. The marketing segment is expected to register the highest CAGR, attributed to the increased spending on digital marketing during the COVID-19 pandemic. Businesses increased their digital marketing spending during the period 2020-2021, which started a market trend, which is expected to continue during the forecast period.

Service Type Insights

The marketing segment is expected to witness the highest CAGR during the forecast period. The benefits of outsourcing the marketing process include fewer staff requirements, training costs, and resource allocation, among others. The high adoption of digital marketing, especially after the inception of the COVID-19 pandemic, has been among the significant factors contributing to the growth of the segment.

Major companies in the market have also been coming up with solutions in line with the changing requirements, which has further accelerated the growth of the marketing segment in the sale and marketing business process outsourcing industry during the forecast period.

The sales segment is expected to witness significant growth in the sales and business process outsourcing industry during the forecast period. The development of the sales segment is attributed to the benefits of outsourcing the sales process, which includes improved services, better management, reduced costs, and focus on core functions.

Additionally, the presence of many companies in the market that offer sales business process outsourcing solutions has also resulted in wider adoption, resulting in its growth. For instance, Accenture provides a sales BPO solution with a 20%-35% inside sales lead conversion rate, over 65% increase in customer retention, over 90% customer satisfaction rate, and a 20-55 net promoter score.

End-use Insights

The BFSI segment holds the largest share of the market. the growth of the BFSI segment is attributed to the need for delivering better customer experience and an increase in competition, among others. Outsourcing various processes allow businesses to benefit from expertise in managing non-core activities.

Moreover, companies involved in finance will be required to handle a large amount of data, which could use resources such as time and expense, among others. Moreover, the resource utilization for the training of the employees is another factor that is expected to contribute to the growth of the BFSI segment of the sales and marketing BPO industry during the forecast period.

The manufacturing segment is expected to witness significant growth in the sales and marketing BPO industry during the forecast period. The development of the manufacturing segment likely due to benefits such as the optimization of resources, reduced costs, and time utilization to focus on core areas, among others.

The benefits of sales and marketing outsourcing have been a significant boon to manufacturing companies, especially post the inception of the COVID-19 pandemic, which caused the shutting down of manufacturing plants due to stringent regulations.

This factor has caused higher demand for various products. This has propelled manufacturing companies to focus on meeting the demand in the market. To facilitate the increased manufacturing, companies are outsourcing different business functions, including sales and marketing, which has resulted in the high growth of the manufacturing segment in the sales and marketing BPO industry.

IT & telecommunication segment of the sales and marketing BPO industry occupied a significant revenue share in 2022. This is one of the prime industries to be impacted by the launch of any new technology. For the requirement of telecommunication firms, BPO For telecommunication firms, business process outsourcing has been an intelligent approach to expand and enhance their offerings.

In-house hiring is expensive and involves a lot of resources, including office space, pay, training, IT infrastructure, and upkeep. Business process outsourcing can provide clients with better service at a reduced cost by outsourcing, as it saves money and resources in the setup process. It also enhances a facet of their firm about which clients have previously expressed concern.

The retail segment accounts for a significant share of the sales and marketing BPO industry. Outsourcing sales and marketing processes enable businesses to focus on substantial areas, directly impacting companies' profitability. Moreover, outsourcing the sales process gives a better understanding of the requirement of target customers, which helps increase the business involved in the retail industry.

Some of the significant services opted out by firms engaged in the retail sector are data entry, tracking orders, and order fulfillment, among others. Retail companies were highly benefitting from outsourcing such processes, which convinced retail businesses to opt out of sales and marketing processes outsourcing.

Regional Insights

North America is expected to witness high growth during the forecast period. The area is home to some significant companies, including Amdocs; CBRE Group Inc.; NCR Corporation; and TTEC Holdings, Inc. Moreover, Mexico has many BPO companies, owing to low labor costs and a similar time zone to that of the U.S., which enables the country to attract companies operating in the U.S. for services such as call centers. All these attributes have contributed to the regional market growth.

Asia Pacific is expected to witness significant growth during the forecast period. The region is home to growing economies such as India and the Philippines which are among the top destinations for outsourcing business processes. The availability of low-cost labor, a wider talent pool, and a high number of English speakers are some of the the significant factors driving the growth. Moreover, the regional governments have been proactive in bringing BPO companies into the area, which has fueled the industry growth.

For instance, under the Digital India Program, the Ministry of Electronics & Information Technology has included Northeast BPO Promotion Scheme (NEBPS) and India BPO Promotion Scheme (IBPS). The schemes aimed at offering financial support as viability gap funding for creating job opportunities in the country. Such initiatives are expected to boost the growth of the Indian sales and marketing BPO industry during the forecast period.

Key Companies & Market Share Insights

The industry is competitive due to the presence of numerous prominent companies such as Accenture, Capgemini, Amdocs, Digicall, and Genpact. Companies have been concentrating on organic growth tactics, which include product innovations, R&D investments, and value-added features, to expand their product portfolios and increase their market share. The companies have been involved in various strategic initiatives aimed at offering solutions with enhanced functionalities.

For instance, in January 2022, Accenture announced a strategic alliance with Celonis that offers data execution and process mining services. The strategic partnership will help businesses gain insights for optimizing and updating their business processes. Capabilities of Accenture in lifecycle management and automation coupled with Celonis’s mining and execution management processes will help clients convert data and obtain meaningful, data-driven, and automated action-oriented insights for business processes.Some prominent players in the global sales and marketing business process outsourcing market include:

• Accenture

• Amdocs

• Capgemini

• CCI South Africa

• Digicall

• Enshored

• Genpact

• Helpware

• Infosys Limited (Infosys BPM)

• MERCHANTS SA (PTY) LTD

• NCR Corporation

• Outworx

• SA Commercial

• Talk Sure Group

• Teleperformance SE

• TTEC Holdings, Inc.

• Wirpo Limited

Sales And Marketing Business Process Outsourcing Market Report Scope

Global Sales And Marketing Business Process Outsourcing Market Segmentation

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global sales and marketing business process outsourcing market report based on service type, end-use, and region:

• Service Type Outlook (Revenue, USD Billion, 2018 - 2030)

  • Sales

  • Marketing

• End-use Outlook (Revenue, USD Billion, 2018 - 2030)

  • BFSI

  • Healthcare

  • Manufacturing

  • IT & Telecommunication

  • Retail

  • Others

• Regional Outlook (Revenue, USD Billion, 2018 - 2030)

  • North America

    • U.S.

    • Canada

    • Mexico

  • Asia Pacific

    • China

    • India

    • Japan

    • Singapore

    • Malaysia

    • Philippines

    • Rest of Asia Pacific

  • Africa

    • South Africa

    • Nigeria

    • Rest of Africa