Knowledge Process Outsourcing Market to Grow with a CAGR of 6.59% Globally through to 2028

Knowledge Process Outsourcing is increasing due to the rising demand for specialized expertise and knowledge services across various industries globally in the forecast period, 2024-2028.

According to TechSci Research report, “Global Knowledge Process Outsourcing Market - Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028. Global Knowledge Process Outsourcing market has witnessed tremendous growth in recent years, reaching a valuation of USD 31.65 billion in 2022. The market is projected to continue its strong upward trajectory, posting a CAGR of 6.59% from 2024 to 2028.

Critical business functions such as data annotation, content moderation, legal research and more have recognized Knowledge Process Outsourcing solutions as essential tools for developing accurate models, optimizing processes, and improving experiences.

Stringent data privacy and compliance regulations have compelled organizations to invest heavily in digital transformation initiatives utilizing Knowledge Process Outsourcing to extract maximum value from data assets while ensuring regulatory adherence. Companies worldwide rely on robust Knowledge Process Outsourcing platforms and technologies.

To address unique use cases, Knowledge Process Outsourcing providers are partnering with enterprises to develop customized, integrated systems enabling applications such as language translation, data labelling, research and analysis. These collaborations have resulted in enhanced oversight of projects through advanced Knowledge Process Outsourcing platforms equipped with analytical dashboards facilitating data-driven decision making.

The development of innovative capabilities such as machine learning, natural language processing is also fueling market demand for Knowledge Process Outsourcing solutions that help businesses improve productivity, time-to-market and other metrics. Integration of Knowledge Process Outsourcing functionalities with existing systems promises improved insights, higher stakeholder satisfaction and analytics-driven operations.

Government policies promoting technology adoption, workforce upskilling and cybersecurity best practices will continue driving investments in digital transformation initiatives powered by Knowledge Process Outsourcing. As industries increasingly rely on data and analytics, demand for advanced Knowledge Process Outsourcing solutions is projected to rise substantially over the coming years.

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The global Knowledge Process Outsourcing market is segmented by process, location, industry vertical and region. By process, the legal process outsourcing segment held a significant share in 2022 owing to cost benefits associated with outsourcing non-core legal services. The finance & accounting segment is expected to witness strong growth over the forecast period.

In terms of location, the offshore segment dominated with established outsourcing destinations. However, the nearshore segment is emerging as a popular alternative and is likely to advance at a higher rate during the assessment period.

Based on industry vertical, the BFSI and telecom & IT sectors jointly dominated the market and are expected to continue their dominance. Meanwhile, the healthcare vertical is projected to exhibit substantial growth owing to rising healthcare expenditures worldwide.

To summarize, the legal process outsourcing and offshore segments currently lead the market. However, the nearshore location and healthcare vertical are likely to witness fastest expansion in the coming years.

Major companies operating in Global Knowledge Process Outsourcing Market are:

• WNS (Holdings) Limited
• EXL
• Tech Mahindra Limited
• Tata Consultancy Services Limited
• Accenture plc
• Genpact
• Cognizant Technology Solutions Corporation
• Capgemini SE
• IBM Corporation
• Oracle Corporation

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“The global Knowledge Process Outsourcing market has witnessed significant growth over the past decade, driven by the rising adoption of data-driven strategies across industries. Organizations across various sectors such as manufacturing, healthcare, retail, telecom and others have increasingly relied on Knowledge Process Outsourcing solutions to optimize business processes, product development strategies and operations through insights derived from data analysis. 

Knowledge Process Outsourcing solutions enable real-time access to centralized data repositories and analytics dashboards. This allows companies to generate predictive insights, automate quality assurance procedures, and ensure data governance and regulatory compliance. Such solutions help customize workflows, streamline processes and strengthen governance protocols.

Leading enterprises have partnered with major Knowledge Process Outsourcing platform providers to digitally transform their infrastructure as well as decision-making capabilities. The integrated systems improve cross-functional collaboration, provide situational awareness through customized portals, and facilitate achievement of strategic objectives.

Knowledge Process Outsourcing vendors continue advancing their solutions through innovations in areas like machine learning, process automation and cybersecurity. This ensures secure, scalable and interoperable solutions catering to diverse needs across business units, products and geographical locations.

Ongoing innovation and growing reliance on data-driven insights indicate that Knowledge Process Outsourcing will play a key role in optimizing organizational effectiveness. Partnerships and alignment with emerging industry standards are expected to sustain the strong momentum of this market. The long-term outlook for data-driven decision-making powered by these solutions remains positive as digital transformation continues reshaping business models.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

“Knowledge Process Outsourcing Market by Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Process (Research and Development, Legal Process Outsourcing, Finance and Accounting, Animation and Visual Effects, Others), By Location (Onshore, Offshore, Nearshore) By Industry Vertical (Manufacturing, Telecom & IT, BFSI, Healthcare, Others) By Region, By Competition”, has evaluated the future growth potential of Global Knowledge Process Outsourcing Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Knowledge Process Outsourcing Market.

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