Cloud computing to boost BPO market through 2030

WESTFORD, UNITED STATES — The increasing adoption of cloud computing is forecasted to boost the Business Process Outsourcing (BPO) industry through 2030. 

According to a report released by marketing agency Skyquest, the BPO market could soar to US110.74 billion by 2030, growing at a 9.1% compound annual growth rate (CAGR) from 2023.

Robotic Process Automation (RPA) is poised to transform the industry, enhancing work efficiency and accuracy. SkyQuest highlights RPA’s potential to streamline back-office tasks, elevating productivity levels.

The BPO sector sees the customer services segment leading with over 30% revenue share, propelled by the global expansion of service centers offering digital and traditional support. The finance and accounting segment is also set for growth, influenced by expanding banking networks and tighter regulations. 

Meanwhile, U.S. tech giants are set to help North America stand out among other regions, contributing 35% of the total market revenue. 

At the same time, the Asia Pacific is expected to experience the most robust regional growth from 2023 to 2030 due to its competitive labor costs.