South Africa Business Process Outsourcing Market Size, Share & Trends Analysis Report By Service, By End-use And Segment Forecasts, 2020 - 2027

South Africa Business Process Outsourcing Market Size, Share & Trends Analysis Report By Service, By End-use And Segment Forecasts, 2020 - 2027

  • December 2020 •
  • 110 pages •
  • Report ID: 6020579 •
  • Format: PDF
South Africa Business Process Outsourcing Market Size, Share & Trends Analysis Report By Service (Customer Services, Finance & Accounting), By End-use (BFSI, IT & Telecommunications), And Segment Forecasts, 2020 - 2027

South Africa BPO Market Growth & Trends

The South Africa business process outsourcing market size is projected to reach USD 3.6 billion by 2027, growing at a CAGR of 13.2% during the forecast period, according to a study conducted. South Africa BPO industry has been a strong performer for the past several years. The solid performance of the BPO sector in SA is due to the support it has received from the national government. Operational resilience combined with continued government support, can retain, and even exceed the growth rate of the regional BPO sector and expand its range of solutions offered to global clients.

Supportive government initiatives are expected to accelerate market growth.The Department of Trade and Industry has played a critical role in drawing international investments into the BPO sector.

Government incentives to the BPO market have helped to encourage a flurry of international investment in the regional market.

However, the cost of telecommunication solutions and services prevails as a primary challenge for market growth. The relatively higher cost of telecommunication solutions and services in South Africa compared to other preferred BPO destinations across the globe necessitates the Government, IT & telecom companies as well as other industry players and stakeholders to work in a collaborative way to increase the local manufacturing, expand networks, and further reduce connectivity tariffs to help drive the market growth.

South Africa BPO Market Report Highlights
• The market has emerged as a leading global BPO hub and is still growing at a positive rate
• The BPO sector in South Africa is powered by a tech-savvy and educated workforce and a business climate that is favorable for exceptional quality customer engagement BPOs
• The regional government is strongly committed to the constant skills development of its BPO labor force to ensure expansion and growth of the sector
• The finance & accounting service segment is expected to grow at a C
• AGR of 13.6% over the forecast period as banks and several financial institutions have always been considering BPO as a means for improving cost-efficiency
• The IT & telecommunication end-use segment accounted for the largest revenue share of over 35% in 2019
• However, BFSI is anticipated to be the fastest-growing end-use segment over the forecast period