Business Process Outsourcing - Belgium

Belgium

Revenue in the Business Process Outsourcing market is projected to reach €2.54bn in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 3.59%, resulting in a market volume of €3.03bn by 2029.
The average Spend per Employee in the Business Process Outsourcing market is projected to reach €0.47k 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

Marché

Région

Comparaison de régions

Monnaie

Analyst Opinion

Belgium, a country known for its chocolate and waffles, has been experiencing a steady growth in the Business Process Outsourcing (BPO) market in recent years.

Customer preferences: Belgium's location in Western Europe makes it an attractive destination for companies looking to outsource their business processes. The country's skilled workforce and proficiency in multiple languages, including French, Dutch, and German, also make it an appealing choice for companies looking to expand their reach in Europe. Additionally, the country's strict data protection laws and regulations provide a sense of security for companies that entrust their business processes to Belgian outsourcing providers.

Trends in the market: One of the key trends in the BPO market in Belgium is the increasing demand for outsourcing services in the healthcare sector. The aging population and rising healthcare costs have led to a greater need for efficient and cost-effective healthcare services, which has resulted in an uptick in outsourcing activities in this industry. Another trend is the growth of digitalization and automation in the BPO industry. Belgian outsourcing providers are increasingly adopting digital technologies such as artificial intelligence and robotic process automation to improve their service offerings and stay competitive in the market.

Local special circumstances: Belgium's unique linguistic and cultural landscape presents a challenge for outsourcing providers. The country has three official languages and distinct cultural differences between its regions, which can make it difficult for companies to find a provider that can cater to their specific needs. As a result, many outsourcing providers in Belgium offer services in multiple languages and have a strong understanding of the country's cultural nuances.

Underlying macroeconomic factors: Belgium's stable economy and strategic location in Europe have contributed to the growth of the BPO market in the country. The country's GDP per capita is among the highest in the world, and its strategic location makes it an ideal hub for companies looking to expand their operations in Europe. Additionally, the Belgian government has implemented policies to attract foreign investment and promote the growth of the country's outsourcing industry. These factors have created a favorable environment for the BPO market to thrive in Belgium.

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.