Posted by: in Services on May 02, 2011
The business process outsourcing (BPO) sector in India is steadily growing. An increasing number of international l clients turn to the south eastern nation for high-end business process services. But how large can BPO in India actually grow? This blog entry outlines the latest growth forecast for India’s BPO market that is newly released by the Everest Group.
The global consulting and research organization, Everest Group, recently revealed that India’s BPO market with its financial service section could realistically reach a growth figure up to US $250 billion.
Currently, financial services of the BPO industry section amount to revenues of US $18 billion which represents almost 50% of the entire global market.
An Everest Group spokesperson comments on the latest study by highlighting that India is a key player of the global BPO industry. The nation is expected l continue to be a BPO leader especially regarding the segment of financial services.
India is offering an immense, high-skilled labor force and advanced operational resources to a large pool of international clients. The country further established a good reputation as offshore outsourcing destination.
The research group further points out that now, and in the foreseeable future, the Philippines and China will be India’s main competitors on the global BPO market. Nevertheless, also Eastern Europe as well as Central and South America are on the rise and show the most rapid growth rates according to the Everest Group.