- Knowledge process outsourcing (KPO) is the process of outsourcing knowledge intensive activities that are data driven and encompass the process of analyzing, gathering, managing, and delivering objective insights into businesses. The KPO business includes the preparation of tax returns, accounts, computer aided simulation, financial services, and engineering design and development, among others.
- KPO means information related knowledge-based processes or business tasks such as consultancy, research, analysis, or other high-level tasks, which are outsourced. These tasks are allocated to the subsidiary of the same organization or done by another company.
- Moreover, knowledge process outsourcing is a continuation of business process outsourcing. Various services that are being outsourced are data management, search and analytics, contract research and biotech, animation and gaming services, remote education and publishing, banking, securities and insurance, market research and competitive intelligence, and scientific and medical content publishing among others.
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Global Knowledge Process Outsourcing Market: Dynamics
Global Knowledge Process Outsourcing Market: Key Drivers and Restraints
- Technological advancements in the engineering sector is resulting in high demand for outsourcing the designing part of the components. This in turn is expected to drive the growth of the knowledge process outsourcing market.
- Increasing competition in businesses has resulted in a smaller cycle time for introducing services and products, which is one of the major factors boosting the knowledge process outsourcing market.
- Rising new business concerns across the globe is expected to fuel the knowledge process outsourcing market.
- Growing number of delivery centers worldwide, in order to fulfill the demands of clients is expected to drive the knowledge process outsourcing market.
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Asia Pacific to Account for Major Share of the Global Knowledge Process Outsourcing Market
- In terms of region, the global knowledge process outsourcing market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
- The knowledge process outsourcing market in North America is anticipated to expand at a rapid pace over the forecast period, due to rising activities related to IT offshoring/outsourcing. This is an incentive for the growth of the knowledge process outsourcing market in the region.
- The knowledge process outsourcing market in Asia Pacific is expected to hold significant share due to rising customer demand for high-quality services, which in turn is forcing enterprises to adopt systems and business models that not only provide strategic value to their products and services, but also enhance operational efficiency. This is set to accelerate the growth of the KPO market in the APAC region. India is one of the major countries driving the growth of the KPO market, as India leads in KPO services.
- South America is expected to observe the fastest growth in the global KPO market due to the increasing emphasis on research and analysis of data by many large and medium firms in the region.
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Global Knowledge Process Outsourcing Market: Competitive Landscape
Key Players Operating in the Global Knowledge Process Outsourcing Market
Local, regional, and international players are present in the knowledge process outsourcing market. The global knowledge process outsourcing market is highly consolidated, with top manufacturers accounting for approximately 25%–30% of the market share. Key players operating in the global knowledge process outsourcing market are:
- IBM Corporation
- Texas Instruments Incorporated.
- Hewlett Packard Enterprise Company
- WNS (Holdings) Ltd.
- Tata Consultancy Services Limited.
- Oracle Corporation
- McKinsey & Company
- Wipro Limited
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