There’s no doubt that the pandemic has changed the way people work, especially in the United States, where 70% of full-time workers switched to remote. Along with that is the increasing success of outsourcing as more and more small to medium businesses hire offshore.
HOW THE PANDEMIC ACCELERATED THE GROWTH OF OFFSHORING FOR SMALL TO MEDIUM BUSINESSES
There’s no doubt that the pandemic has changed the way people work, especially in the United States, where 70% of full-time workers switched to remote. Along with that is the increasing success of outsourcing as more and more small to medium businesses hire offshore.
From USD 92.5 Billion, the market size of outsourcing is now USD 273.3 Billion
In 2019, the market size of globally outsourced services reached USD 92.5 billion. Now, because of the impact of the global pandemic, the 2022 market size is now at USD 273.3 billion.
60% of the total business comes from the United States
The U.S. outsources an estimated number of 300,000 jobs every year
As of 2022, the overall number of worldwide BPO firms in the U.S. is 265,679, which is 4.1% higher than in 2021.
As of 2022, 82% of small businesses have increased their outsourcing
82% of small businesses in the U.S. and Canada have increased their business process outsourcing model since the beginning of the COVID-19 pandemic.
Job positions most likely to be outsourced by U.S. companies
- Accounting
- IT Services
- Digital Marketing
- Human Resources
- Customer Support
Sources:
- Statista: Global market size of outsources services from 2000 to 2019
- Capital Counselor: 27 Eye-Opening Outsourcing Statistics
- Bloomberg: Business Process Outsourcing (BPO) Market to be Valued at U.S. $620Bn by 2032 Report
- Small Business Outsourcing Statistics: A Deep Dive Into 2022 by David J. Brin of UpCity