South Africa Business Process Outsourcing Market Size, Share, and Trends Analysis Report For service (Customer Services, Finance & Accounting) As well as By End-use (BFSI, IT & Telecommunications) and Segment Forecasts 2020 – 2027

There is a South Africa business process outsourcing market size was estimated at USD 1.4 billion at the end of the year 2019 and is predicted to expand at a compound annual growth rate (CAGR) of 13.2 percent from 2020 until 2027. The market’s growth is led by technological advances, continual innovation and an increase in competitiveness, which is expected to continue over the next few years. The need to manage cost of operations, improve processes, focus on core competencies and hire qualified professionals is expected to drive markets in the coming years. South Africa has been home to many call center operations over many years, which has led to its global recognition as a top and reliable offshore outsourcing location.

It is also ranked as one of the top destinations for Global Business Services – or offshoring business processes. With a sufficient expertise, an extensive talent pool, lower costs and easy-to-understand English accents are some of the most important factors encouraging companies to consider South Africa among their preferred outsourcing destinations. With a particular focus on data analytics, as well as Artificial Intelligence (AI)-driven solutions, South Africa has a larger quantity of actuarial experts as than India and can offer assistance in various languages, including French as well as Spanish. The application technology such as artificial intelligence and robotics as a method of complementing for managing human resources could also assist incumbents of the South Africa BPO industry in facing their competition in Europe and the Middle East & Africa.

This will, in turn, be anticipated to accelerate expansion of the market in the near future. Furthermore, Business Process Enabling South Africa is an industry body for the Best African BPO company industry body has played a major role in helping to boost the industry’s growth by encouraging skill development, sharing best practices, and offering its members the ability to connect with other businesses and associations that are driving and influencing the transition of the industry into the digital age. Additionally, The South African government has introduced numerous tax-related incentives and plans for the establishment of infrastructure and supporting skills. One of them includes Monyetla Work Readiness Programme. Monyetla Work Readiness Programme.

The major goal of this program is the expansion of employment opportunities for entry-level personnel. By utilizing The Monyetla Work Readiness Programme, BPO employers lead a collaborative approach to find and train entry-level personnel. The initiatives have created youth employment opportunities and contribute to the region’s earnings by offshoring services. In the past, the afribpo business in SA has been growing continuously creating new job opportunities and playing a significant impact on the region’s development. Outsourcing service providers believe the fact that South Africa enjoys better opportunities when compared to other nations in Africa to deliver business outsourcing services. Cape Town has particularly emerged as a BPO location preferred by BPO providers.

Service Insights

The customer service segment dominated the market, with a share greater than 31% in 2019 and will expand further by the fastest rate of growth from 220 to 2027. The reason for this is the growing number of service centers that necessitate online and offline technical assistance. Customer service BPOs have been devoted to managing inquiries from customers through phone, chat, email and social media platforms and various other channels. Customers can contact them via chat, email, social media platforms and other channels. BPO business is flourishing throughout Cape Town and has risen dramatically in recent years and is likely to witness significant growth in the coming years. In addition, South Africa holds an advantage when it comes to services for customers BPO services. The capacity to assist businesses lower costs by a swift transition towards remote working due to the Covid-19 epidemic has earned the customer services centers of South Africa an edge over rival hubs.

The accounting and finance sector is expected to grow at a substantial growth rate of 13.6% over the forecasted period. The benefits of finance and accounting BPO services in the price reduction associated with finance functions can also drive their acceptance across a variety of financial institutions within the country. South Africa is steadily advancing in international services to the financial industry. Some financial companies are shifting to South Africa for establishing their African back-office shared service hubs as components of their worldwide delivery network.

End-of-use Information

The segment of IT and telecommunications led the market in the region by capturing more than 35% in the year 2019. The telecommunications and IT sector is among the top adopters of BPO services. In the IT area, South Africa has performed an important role in the field of the technical helpdesk and service desk due to its extraordinary abilities in speaking. Also, the country is composed of a large number of IT graduates with necessary technical knowledge, which can reduce the burden and the cost of training on the part of businesses. South Africa continues to remain one of the leading locations for outsourcing IT services thanks to the rapidly growing cluster of businesses. They provide IT-oriented solutions to various industries such as websites’ architecture and development and applications and platform development. The growing ICT spending across the country for regular maintenance of communications and IT systems in place and the replacement of outdated systems will likely fuel sector’s growth.

It is expected that the BFSI segment is expected to register the maximum CAGR during the forecast period. The accessibility of a skilled workforcethat includes Chartered Financial Analysts (CFAs), Chartered Accountants (CAs) and actuaries, has been the key driver behind success for the country in this sector. Further, global banks are turning to South Africa for the delivery of complex banking areas, including life insurance and fund accounting processes. South Africa provides a huge amount of voice services in the area of insurance, including commission handling, claims processing and policy administration.

Key Companies and Data on market shares

The marketplace is extremely competitive , as the majority of major firms are working on expanding their market reach through various strategies for business, such as partnerships, mergers & acquisitions, and product development. These strategies enable companies to expand their geographical reach and expand their offerings to market, both in the national and international. For instance, in August 2020, WNS (Holdings) Ltd introduced EXPIRIUS an innovative consumer experience (CX) solution that integrates human-assisted design with AI-driven conversations insights to improve the customer experience. Some of the biggest players operating inside South Africa’s South Africa business process outsourcing market are:

  • Accenture Plc

  • Amdocs

  • Capgemini

  • HCL Technologies Ltd.

  • IBM Corp.

  • Infosys Ltd. (Infosys BPM)

  • NCR Corp.

  • Sodexo

  • TTEC Holdings, Inc.

  • Wipro Ltd.

  • Mango5 BPO

  • Indox (PTY) Ltd.

  • Outworx Contact Centre

  • SA Commercial

  • Talksure Group

  • Boomerang Marketing

  • IContactbpo

  • 121 BPO Services

  • Altron

  • The IT Guys

  • Merchants SA (Pty) Ltd.

  • CCI South Africa

  • Capita plc

  • Digicall Group

  • DSG Group

  • Startek

  • WNS (Holdings) Ltd.

  • Webhelp

  • O’Keeffe & Swartz

  • Ignition Group

  • Rewardsco

  • Teleperformance SE

  • Encore Capital Group

  • Pra Group, Inc.

  • Paschoalotto Logo

  • Pioneer Credit

  • Credit Corp Group

  • Collection House Ltd.

Segments Covered by the Report

This report anticipates revenue growth at the national scale and also provides an analysis of the most recent industry trends from 2016 to 2027 in the various sub-segments. For this report, Grand View Research has classified its South Africa business process outsourcing market report based on services and their end-uses:

  • Service Outlook (Revenue USD Million in 2016, 2016 – 2027)

    • Finance & Accounting

    • Human Resources

    • Knowledge Process Outsourcing (KPO)

    • Procurement and Supply Chain

    • Customer Service

    • Other

  • End-use Outlook (Revenue USD Million between 2016 and 2027)

    • Banking, Financial Services, and Insurance (BFSI)

    • Healthcare

    • Manufacturing

    • IT & Telecommunication

    • Retail

    • Other

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