Market Research Logo

Global Outsourcing Market in BFSI Sector 2016-2020

Global Outsourcing Market in BFSI Sector 2016-2020

About Outsourcing Market in BFSI Sector

Outsourcing refers to the transfer of services or business functions to a third-party service provider on a contract basis. Companies primarily outsource to reduce costs and reap potential benefits such as access to skilled expertise, flexible staffing, short turnaround time, improved efficiency, and profit enhancement

Organizations in the BFSI sector outsource both regulated and non-regulated activities to third-party service providers to reduce costs and identify key investment areas. Typically, the BFSI sector outsources IT service requirements such as application support and infrastructure management and support. Also, specific operations related to finance and accounting (F&A), back-office activities and processing, and administration and contract functions are outsourced. Outsourcing enables organizations in the BFSI sector to transfer their risks, meet changing regulatory compliances, improve customer services, and achieve cost-efficiencies.

Technavio’s analysts forecast the global outsourcing market in BFSI sector to grow at a CAGR of 6.79% during the period 2016-2020.

Covered in this report

The report covers the present scenario and the growth prospects of the global outsourcing market in the BFSI sector for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top four vendors operating in the market.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Outsourcing Market in BFSI Sector 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Accenture
  • Genpact
  • IBM
  • TCS
Other prominent vendors
  • Aegis
  • Attra Infotech
  • Birlasoft
  • Capgemini
  • CGI
  • Cognizant
  • CSC
  • Dell
  • eClerx
  • Endava
  • EPAM
  • EXL
  • HCL
  • Hexaware Technologies
  • HP
  • Infosys
  • ITC Infotech
  • L&T Infotech
  • Luxoft
  • Mindtree
  • NIIT Technologies
  • Polaris Consulting and Services
  • Serco Global Services
  • Softek
  • Sutherland Global Services
  • Syntel
  • Tech Mahindra
  • Unisys
  • Virtusa
  • Wipro
  • WNS
  • Xchanging
  • Xerox
  • Zensar Technologies
Market driver
  • Increased need for cost reduction
  • For a full, detailed list, view our report
Market challenge
  • Data security and privacy concerns
  • For a full, detailed list, view our report
Market trend
  • Application of automation technology
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2020 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Outsourcing Market in BFSI Sector 2016-2020

Technavio recognizes the following companies as the key players in the Global Outsourcing Market in BFSI Sector: Accenture, Genpact, IBM, and TCS.

Other Prominent Vendors in the market are: Aegis, Attra Infotech, Birlasoft, Capgemini, CGI, Cognizant, CSC, Dell, eClerx, Endava, EPAM, EXL, HCL, Hexaware Technologies, HP, Infosys, ITC Infotech, L&T Infotech, Luxoft, Mindtree, NIIT Technologies, Polaris Consulting and Services, Serco Global Services, Softek, Sutherland Global Services, Syntel, Tech Mahindra, Unisys, Virtusa, Wipro, WNS, Xchanging, Xerox, and Zensar Technologies.

Commenting on the report, an analyst from Technavio’s team said: “The global BFSI outsourcing market is experiencing increased application of automation technology due to rapid advances in technology and related systems. Actual process and transaction of outsourced financial projects is done through automated systems. However, these outsourced projects are still managed by highly skilled professionals.”

According to the report, globalization has resulted in labor arbitrage. Labor arbitrage is regarded as one of the prospective benefits of outsourcing business processes. Business processes are now shifting from more expensive to less expensive locations. Firms incorporating this strategy need not invest in resources or worry about managing their limited available resources.

Further, the report states that data security and privacy concerns are major challenges for any organization as business data are critical.

Companies Mentioned

Accenture, Genpact, IBM, TCS, Aegis, Attra Infotech, Birlasoft, Capgemini, CGI, Cognizant, CSC, Dell, eClerx, Endava, EPAM, EXL, HCL, Hexaware Technologies, HP, Infosys, ITC Infotech, L&T Infotech, Luxoft, Mindtree, NIIT Technologies, Polaris Consulting and Services, Serco Global Services, Softek, Sutherland Global Services, Syntel, Tech Mahindra, Unisys, Virtusa, Wipro, WNS, Xchanging, Xerox, Zensar Technologies.

  • Executive summary
    • Highlights
  • Scope of the report
    • Market overview
    • Top-vendor offerings
      • Table Product offerings
  • Market research methodology
    • Research methodology
    • Economic indicators
  • Introduction
    • Key market highlights
  • Economic overview
  • Market landscape
    • Market overview
      • Table Overview: Outsourcing domains in BFSI sector
    • Market size and forecast
      • Table Global outsourcing market in BFSI sector 2015-2020 ($ billions)
    • State of outsourcing deals by volume
      • Table Outsourcing deals by volume 2015
      • Table Outsourcing deals in banking sector 2015
      • Table Outsourcing deals in financial services sector 2015
      • Table Outsourcing deals in insurance sector 2015
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by service
    • Segmentation of global outsourcing market in BFSI sector by service
      • Table ITO versus BPO deals in the BFSI sector by volume 2015
    • ITO
      • Table ITO by function
    • BPO
      • Table BPO by function
  • Geographical segmentation
    • Global outsourcing market in BFSI sector by geography
      • Table Global outsourcing market in BFSI sector by geography 2015
    • Americas
    • EMEA
    • APAC
  • Market drivers
  • Impact of drivers
    • Table Impact of drivers
  • Market challenges
  • Impact of drivers and challenges
    • Table Impact of drivers and challenges
  • Market trends
  • Vendor landscape
    • Competitive scenario
    • Major vendors
    • Other prominent vendors
  • Key vendor analysis
    • Accenture
      • Table Accenture: Business segmentation by revenue 2014
      • Table Accenture: Business segmentation by revenue 2013 and 2014 ($ billions)
      • Table Accenture: Geographical segmentation by revenue 2014
    • Genpact
      • Table Genpact: Business segmentation by revenue 2014
      • Table Genpact: Geographical segmentation by revenue 2014
    • IBM
      • Table IBM: Business segmentation by revenue 2014
      • Table GTS segment by revenue 2013 and 2014 ($ billions)
      • Table GBS segment by revenue 2013 and 2014 ($ billions)
    • TCS
      • Table TCS: Business segmentation by revenue 2015
      • Table TCS: Geographical segmentation by revenue 2015
      • Table TCS: Market segmentation by revenue 2015
      • Table TCS: Market segmentation by revenue 2014 and 2015 ($ billions)
  • Appendix
    • List of abbreviations
  • Explore Technavio

Download our eBook: How to Succeed Using Market Research

Learn how to effectively navigate the market research process to help guide your organization on the journey to success.

Download eBook

Share this report