The global knowledge process outsourcing (KPO) market is projected to reach USD 169.78 billion by 2030, expanding at a CAGR of 17.0% from 2023 to 2030, according to a new report by Grand View Research, Inc. KPO enables organizations to maximize resource utilization at significantly reduced costs. Additionally, rising demand in legal process outsourcing and growing adoption in IT & telecom, healthcare, and pharmaceuticals are key drivers of market growth.

Emerging economies, with their abundant talent pools, are fueling the expansion of KPO firms. Businesses are increasingly outsourcing time-intensive, critical functions to concentrate internal resources on more revenue-generating activities, resulting in substantial cost and time savings.

The IT and telecom sector is poised for rapid expansion, anticipated to grow at a CAGR of 20.8% through 2030. The surge in data within these industries is driving the demand for analytics and R&D, contributing to the sector’s growth.

The engineering and design segment currently holds a significant market share, valued at USD 5.53 billion. Advancements in technology have led to a rising demand for outsourcing design-related tasks. Meanwhile, Latin America is expected to experience the fastest regional growth in the global KPO market, propelled by an increasing focus on data-driven research and analysis by local enterprises.

Knowledge Process Outsourcing Market Report Highlights:

  • Analytics & market research dominated the market in 2022 with a 36.5% share, driven by heightened demand for business intelligence and analytics tools.

  • Legal process outsourcing is forecast to witness the fastest CAGR of 20.0%, thanks to its cost-effectiveness and service efficiency.

  • BFSI led the market with a 32.8% revenue share in 2022, due to its handling of sensitive customer and financial data.

  • Latin America is projected to grow at the fastest CAGR of 17.5%, as companies intensify R&D efforts and enhance analytical capabilities.

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Key Companies & Market Share Insights:

Major players in the industry are pursuing product launches, acquisitions, and partnerships to broaden their global footprint. Many firms are investing in dedicated teams to research and implement innovative tools to enhance service delivery. For instance, in July 2021, Accenture acquired HRC Retail Advisory to strengthen its retail strategy capabilities. According to Accenture, the acquisition was driven by HRC’s strong track record supporting major North American retailers.

Leading Players in the KPO Market:

  • Accenture

  • Genpact

  • HCL Technologies Limited

  • ExlService Holdings, Inc.

  • McKinsey & Company

  • Moody's Investors Service, Inc.

  • Thomson Reuters

  • Mphasis

  • R.R. Donnelley & Sons Company

  • Wipro

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