Business Process Outsourcing - Russia

Russia

Revenue in the Business Process Outsourcing market is projected to reach €2.17bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 2.04%, resulting in a market volume of €2.40bn by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach €29.50 in 2024.
In global comparison, most revenue will be generated in the United States (€135.70bn in 2024).

Key regions: United Kingdom, United States, Brazil, Japan, Netherlands

Mercado

Región

Comparación de regiones

Moneda

Analyst Opinion

The Business Process Outsourcing (BPO) market in Russia has been steadily growing in recent years.

Customer preferences: Russian businesses have been turning to BPO services to improve their efficiency and reduce costs. This trend is driven by the desire to focus on core competencies and outsource non-core activities to specialized providers. Additionally, Russian businesses are increasingly interested in adopting new technologies and digital solutions to streamline their operations.

Trends in the market: The BPO market in Russia has seen significant growth in the IT outsourcing segment, particularly in software development and maintenance services. This trend is driven by the availability of a highly skilled workforce and a favorable business environment. Additionally, there has been an increase in demand for back-office outsourcing services, such as finance and accounting, human resources, and customer support.

Local special circumstances: Russia's geographical proximity to Europe and Asia has made it an attractive location for outsourcing services. The country's large pool of highly skilled professionals, particularly in the IT sector, has also contributed to the growth of the BPO market. However, the market is still relatively underdeveloped compared to other countries, and there are challenges related to language barriers and cultural differences.

Underlying macroeconomic factors: Russia's economy has been recovering from the recession caused by the decline in oil prices and international sanctions. This recovery has led to increased business confidence and investment in the country. Additionally, the Russian government has implemented a number of measures to support the development of the IT sector, which has contributed to the growth of the BPO market. However, the political and economic uncertainty in the country remains a risk for the BPO market.

Methodology

Data coverage:

The data encompasses B2G, B2B, and B2C enterprises. Figures are based on enterprises' technology spending on products, consulting, and outsourcing services.

Modeling approach / Market size:

Market sizes are determined through a combined top-down and bottom-up approach, building on a specific rationale for each market segment. As a basis for evaluating markets, we use annual financial reports of key players in the industry, Statista's primary research and surveys, and IT associations. In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, internet users, and telecommunication. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the exponential trend smoothing method is used based on the market data characteristics. The main drivers are the GDP and its sector composition, internet penetration, the level of digitization, and the attitude toward IT security.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic and the Russia-Ukraine war is considered at a country-specific level.