Africa Business Process Outsourcing Market To Reach $3.95 Billion By 2030

Africa Business Process Outsourcing Market Growth & Trends

The Africa business process outsourcing market is anticipated to reach USD 3.95 billion by 2030 and is expected to grow at a CAGR of 4.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. Factors including government initiatives such as tax cuts and subsidies, increasing traction towards sub-contracting business processing operation to African countries, and the increased demand for multi-channel communication in business processing services is driving the Africa business process outsourcing (BPO) market growth. The African IT industry has experienced significant growth owing to the expansion of e-commerce, increasing investment of companies from different verticals investing in the region, and local adoption of digital technologies, which is further driving market growth.

The Africa BPO industry has grown tremendously over the previous decade as a result of the benefits provided by business process outsourcing (BPO) services, such as enhanced flexibility and cost savings. The growth of the information and communication technology sector has caused a significant shift in the global service sector. By moving operations to nearshore or offshore regions and utilizing a talent pool of low-cost workers that can adapt to changing business needs, firms can save costs through outsourcing business processes. Another factor that is anticipated to support Africa market expansion throughout the forecast period is the growing use of cloud-based services, artificial intelligence, and robotic process automation in the business process outsourcing industry. It is anticipated that omnichannel communications, cross-channel initiatives, and online interactions will play a key role in enhancing consumer engagement procedures, thereby driving market growth.

One of the industries that has embraced business process outsourcing (BPO) services most is the IT and telecommunications sector. Due to its superior voice capabilities, Africa has played a crucial role in the IT industry in the service desk and technical helpdesk fields. In addition, the nation has a sizable population of IT graduates who possess the necessary technical abilities, which lessens the obligation and expense of company-sponsored training, thereby prompting market growth.

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Africa Business Process Outsourcing Market Report Highlights

• The market growth is attributed to factors such as the growing IT and e-commerce industry, under-utilized talent pool, and the region and deployment of AI and predictive analysis for enhanced customer engagement

• Based on service, the customer services segment is anticipated to witness the fastest CAGR of 5.5% over the forecast period. The growth is attributed to the use of technologies such as voice analysis and handwriting analysis to serve customers, coupled with the rising number of online and offline customer support centers

• Based on application, the BSFI sector is anticipated to witness the fastest CAGR of 5.7% over the forecast period.Financial organizations are using BPO as a tool to increase their cost-effectiveness. Many BFSI organizations are choosing to outsource procedures for many BFSI areas, including investment management and asset management, to develop BFSI customer services

Africa Business Process Outsourcing Market Segmentation

Grand View Research has segmented the Africa business process outsourcing market based on service, application, and country:

Africa Business Process Outsourcing (BPO) Service Outlook (Revenue, USD Billion, 2018 - 2030)

• Finance & Accounting

• Human Resource

• KPO

• Procurement & Supply Chain

• Customer Services

• Others

Africa Business Process Outsourcing (BPO) Application Outlook (Revenue, USD Billion, 2018 - 2030)

• BFSI

• Healthcare

• Manufacturing

• IT & Telecommunications

• Retail

• Others

Africa Business Process Outsourcing (BPO) Country Outlook (Revenue, USD Billion, 2018 - 2030)

• South Africa

• Nigeria

• Ghana

• Kenya

List of Key Players in the Africa Business Process Outsourcing Market

• Accenture      

• AGR GROUP INC

• AMDOCS      

• Capgemini

• HCL Technologies Limited

• IBM Corporation

• Infosys Limited (Infosys BPM)

• MCI, LC.

• NCR Corporation       

• OutProsys

• Rewardsco

• SA Commercial.

• Sodexo           

• TTEC Holdings, Inc.  

• Wipro Limited