BPO to Grow 6.3% Worldwide and 17.9% in Asia-Pacific: Gartner
Submitted by Gurpreet Singh on Wed, 08/24/2011 - 05:32
A market research by the Gartner has revealed that the business process outsourcing (BPO) is expected to grow by 17.9% in the Asia-Pacific region and 6.3% worldwide.
Also, the western European BPO sales are expected to grow by 8.9% and North American BPO is likely to increase by 3.8% in 2011.
Gartner Research Vice-President Cathy Tornbohm stated that the rising market has been progressing and the multinational companies persist to take BPO as a channel to reduce costs and to sustain their business operations during the protracted return to a growing environment. Growth in transaction volume, like increase in recruiting, accounts payable, payroll and customer data analytics and knowledge process outsourcing (KPO) activities, will be seen, Tornbohm said.
Tornbohm stated, "While growth remains strong in developing economies, the United States, the world's largest BPO market, presents a mixed picture for the global market".
He added that the BPO services in the Europe faces drawback due to labour laws, language requirements, and a lack of labour arbitrage benefits.
BPO and IT services have been gradually becoming accessible from a particular source. Likewise, Capita bought contact centre business Ventura for £65m which indicates the IT and BPO consolidation.
