Knowledge process outsourcing market is estimated to be valued at US$ 88.12 Bn in 2031; 16% CAGR Projected- Coherent Market Insights

A newly published report by Coherent Market Insights reveals a sustainable growth in opportunities in the knowledge process outsourcing market.

Coherent Market Insights’ analyst projected the knowledge process outsourcing market to be valued at US$ 88.12 Bn in 2031. It is expected to exhibit a CAGR of 16% over the forecast period 2024-2031. 

Market Dynamics:

Rising demand for specialized skills from various industries drives market growth. Knowledge Process Outsourcing providers help companies focus on their core competencies by outsourcing non-core processes such as research and analytics. They leverage niche skills and subject matter experts to deliver insights and research support functions.

Moreover, cost reductions achieved through operational efficiencies associated with outsourcing is another major factor propelling the market growth.

Market Trends:

• Adoption of analytics is a key trend driving market growth. Knowledge process outsourcing providers use it to generate useful insights from large volumes of structured and unstructured data. This enables them to enhance research capabilities and provide more value-added services to clients.

• Rise of renewable energy domain is another trend gaining traction. Knowledge process outsourcing providers are witnessing increasing opportunities in areas such as predictive maintenance, performance monitoring, and supply chain management.

Knowledge Process Outsourcing Market Opportunities

• The analytics & market research segment is anticipated to hold the largest market share during the forecast period. The growth can be attributed to the increasing need of organizations to collect and analyze customer data to gain insights.

• The engineering & design segment is projected to witness the highest CAGR during the forecast period. Advancements in technologies such as AI, machine learning, and IoT are enabling engineering designs to be more innovative and efficient. This is expected to boost the growth of the engineering & design segment.

Request Free Sample: https://www.coherentmarketinsights.com/insight/request-sample/7095

Key Market Takeaways

• The Knowledge Process Outsourcing market is anticipated to witness a CAGR of 16% during the forecast period 2024-2031. This is owing to growing need of companies to leverage external expertise for various knowledge processes and focus on their core business activities.

• On the basis of product type, the analytics & market research segment is expected to hold a dominant position. This is due to significant demand for data-driven insights.

• North America is expected to hold a dominant position over the forecast period. This is due to extensive technological adoption and presence of leading KPO companies in the region.

Competitor Insights

Key players operating in the knowledge process outsourcing market include

• A3logics
• Accenture PLC
• Boston Consulting Group, Inc.
• Capgemini SE
• Cognizant Technology Solutions Corporation
• Concentrix Corporation
• Deloitte Touche Tohmatsu Limited
• ExlService Holdings, Inc.

Recent Developments: 

• In May 2022, Wipro Limited and Informatica partnered to provide cloud-based data analytics solutions to the market. This cooperation will combine Wipro’s well-known expertise in analytics, data, and artificial intelligence (AI) with Informatica’s powerful, AI-powered data management platform.

• In April 2022, HealthPartners, a top healthcare organization in the US, hired ExlService Holdings, Inc. to create an advanced care management platform. This platform will allow HealthPartners to integrate population health analytics into their care management operations.

Interested to know the Market up Close. Buy the Full-report Now:

https://www.coherentmarketinsights.com/insight/buy-now/7095

𝐀𝐛𝐨𝐮𝐭 𝐔𝐬:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.