Global Industry Analysts, Inc. - Influencer Driven AI Powered Real-Time Market Intelligence

The global market for Healthcare BPO is projected to reach US$371.2 billion by 2025, driven by the growing pressure on hospitals and healthcare organizations to reduce costs and enhance efficiency in all aspects of patient care and revenue cycle management (RCM) to survive in the era of value based care. Under the value-based care payment model where hospitals are paid or reimbursed only based on patient outcomes, healthcare organizations will need to reduce their overall costs by over 25% to 30% by the year 2022 in order to break even. The scenario catalyzes the importance, role and attractiveness of outsourcing. Benefits of outsourcing for hospitals include freeing up of resources to focus on patient care, CAPEX savings on infrastructure and technology, lower cost of operation, cost effective conformance to changes in regulations and standards related to patient data i.e. Health Insurance Portability and Accountability Act (HIPAA); easy access to specialists in the area of back ...

The global market for Business Process Outsourcing (BPO) is projected to reach US$332.5 billion by 2025 driven by the increased demand for outsourcing services from corporate entities seeking to enhance productivity, reduce costs, optimize resource utilization, and transform business operations. World BPO market is also driven by ongoing adoption of new generation technologies such as Automation, Big Data, Cloud BPaaS/Cloud, and Analytics in BPO service infrastructure. Business Process Outsourcing (BPO), a smaller part of outsourcing, relates to contracting of specific roles, operations and business functions to third party service providers. BPO, generally classified into back office outsourcing comprising internal business functions such as accounting and finance or human resources, and front office outsourcing consisting of contact center services, offers better utilization of resources, improved productivity, and cost efficiencies. Globalization and technology, transforming...

The global market for Human Resource Outsourcing is projected to reach US$ 43.9 billion by 2024 , driven by cost reduction and improving operational efficiency by enterprises leading to adoption of payroll services, recruitment process outsourcing and other services. Human Resource Outsourcing ( HRO) is the outsourcing of HR functions by organization and businesses to maximize efficiency and reduce labor costs. HR outsourcing relieves the business owners with several employer-associated responsibilities and enables them to focus on strategic competencies to have an edge over counterparts. The objective is to penetrate HR services such as HR planning, flow integration, system design & innovation, satisfaction of employees, compensation planning, employee relations, training, and enterprise culture planning. HRO includes contractual relationship for HR services with external providers, and helps businesses in maintaining competitive advantage by managing, recruiting, and reta...

The global market for Cloud Services Brokerage (CSB) is forecast to reach US$16.4 billion by 2024 , driven by growing cloud service commoditization; migration beyond single cloud into multi-cloud environments and the ensuing need for well-crafted management of multiple clouds.   With rapid proliferation of cloud computing, basic cloud services are becoming increasingly commoditized with every service provider offering similar services with very little scope for differentiation. Standardization of service delivery models, service quality, and pricing mechanisms have played key roles in the commoditization of cloud services. Also, commoditization of cloud services comprising SaaS, PaaS and IaaS is seen as inevitable and supporting this school of thought is the “Bezos’ Law” which like the Moore’s Law in electronics/computing states that price of each unit of cloud computing power will reduce by 50% every three years. Explosion of cloud service providers in the market are furthe...