How much revenue does outsourcing generate in 2021

In this article we would like to visualize how much outsourcing has generated over the past years, namely between 2010 and 2021. Last year, 2021 according to statistics outsourcing’s and BPO’s (Business process outsourcing) revenue was $29.49 billion. How great is that?

When you hear the word outsourcing you may think of a process that is expanding or giving your business processes to external parties – partly or completely. In other words, BPO (business process outsourcing) which generated more than $29 billion last year, is the transfer of your own services to a company or a person which or who is outside of your organization. This process often requires offshoring.

Furthermore, it is vital to say, that India was the best country for offshoring in 2021 due to its good business condition, but Bulgaria has a reasonable pricing rates and favorable geographical location, that’s way our country is one of the top sourcing location in Southeast Europe (SEE).

Another popular segment of outsourcing is ITO (Information technology outsourcing). As technology becomes part of every business nowadays its outsourcing is developing more and more. Compared to BPO global ITO generated $361 billion in 2021 as revenue. Wow! That is amazing. You might think of outsourcing some process now?

To sum up, revenue of both BPO and ITO for 2019 is more than 390 billion $. For more than the half contributed USA and for Southern Europe has the largest share where BPO is practiced or will be practiced soon, followed by Latin America and South Africa. It is really a global industry!

You can delegate back-office or internal functions. Most common are HR and Accounting. You can also outsource front-office or customer-related functions – all these that are related to call centers.