Report ID: UCMIG45B2049
Report ID:
UCMIG45B2049 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
With an estimated value of USD 56.42 billion in 2022, the global finance and accounting business process outsourcing (BPO) market is anticipated to experience rapid expansion in the years to come. Forecasts indicate that between 2023 and 2030, the market will develop at a 9.1% compound annual growth rate (CAGR). This growth can be ascribed to a number of variables, including the rising need for efficient financial processes across businesses, the rising need for cost-effective financial solutions, and the complexity of accounting standards. Additionally, technological improvements, particularly those in automation and artificial intelligence, are anticipated to play a significant role in propelling the market forward by providing enhanced efficiency, accuracy, and scalability in finance and accounting BPO services.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the IT Consulting & Other Services by segment aggregation, the contribution of the IT Consulting & Other Services in Software & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
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Report ID: UCMIG45B2049