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Technavio’s research analyst predicts the cloud-based BPO market in APAC to grow at a CAGR of around 14% during the forecast period. An increased need for cost-effective business processes drives the market growth. SMEs, especially in emerging countries in APAC, have limited budgets and look for cost-effective solutions. They mostly outsource back-office operations that require extensive infrastructure, high capital investment, and human resources. This helps them cut costs, save time, and lean down their operations. Also, companies can focus more on their core activities and thereby improve their overall productivity and efficiency.
However, data security and privacy concerns remain a challenge for the market growth. Unauthorized access or loss of sensitive enterprise information can defame the service provider’s reputation. Outsourcing services are in great demand in growing economies in APAC such as India, China, and Southeast Asia with rapidly growing data. The cloud allows storing of large data in scalable and flexible infrastructure or hosted data centers. Cloud BPO service providers need to ensure the latest data security measures to gain customer’s confidence. Any glitches in the provider’s server could disrupt client’s data access and may lead to downtime. This would have a high impact on industries such as healthcare and BFSI.
The HR segment accounted for a share of around 33% during 2015. An HR department has become vital for an organization as it focuses not only on reducing cost per employee but also on improving employee experience and increase productivity. Therefore, HRO has become an important option to control costs and meet the expanding HR objectives.
The cloud-based BPO market in APAC is in its nascent stage, and we expect the market to grow significantly over the forecast period. APAC continues to be a lucrative high-growth and profitable market with many underdeveloped and untapped regions. Players in the market are providing sophisticated products and services through business analytics, process automation software, and social media platforms to outperform competitors.
The leading vendors in the market are -
Other prominent vendors in the market include Absolute Software, Cherwell Software, EMC Infra, Epicor Software, FrontRange Solutions, Fujitsu, Hornbill, ManageEngine, Microsoft, Oracle, SAP, Serena Software, Sofigate, Sunrise Software, SunView Software, Symantec, SysAid Technologies, and VMware.
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PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by services
PART 07: Market drivers
PART 08: Impact of drivers
PART 09: Market challenges
PART 10: Impact of drivers and challenges
PART 11: Market trends
PART 12: Vendor landscape
PART 13: Key vendor analysis
PART 14: Appendix
PART 15: Explore Technavio
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