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Global BPO market to touch 975-Bn USD by 2012

Started by gopu, Aug 07, 2009, 05:52 AM

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gopu

Poised to register an impressive CAGR of more than 12% over the years 2008-2012, the world business process outsourcing market is projected to reach about US$975 billion by 2012. The US, with a market share estimated at 53% in 2008, represents the largest BPO market worldwide, while Asia-Pacific, primed to maintain a CAGR of 20% over 2008-2012, constitutes the fastest growing market.

With an estimated share of 47.8% in 2008, logistics outsourcing market constitutes the largest BPO service. Human resource outsourcing market, though accounting for a small share of the global BPO market, is expected to emerge as the fastest growing service segment, with a CAGR of 25% over the 2008-2012 period.

There is an increase in outsourcing of key business functions and related IT operations, as companies intend to get the right things done for less money. Usually, processes that are outsourced include those, which are necessary but provide no competitive edge.

Outsourced business processes include administration, billing, payroll, training, HR functions and logistics management. With increase in mergers, acquisitions, competition and globalization, BPO industry is expected to witness higher demand for new applications and advanced systems leading to growth in the outsourcing market.

BPO does not depend too much on economic cycles, as it grows whether the economy is good or bad. When the economy is bad, companies want to reduce costs and when the economy is good companies want to concentrate on growth.

With the help of BPO, new companies could market quickly, but this proves to be expensive, as it requires more research for the analysis of process and technology of the client. Other disadvantages include employees unwilling to be outsourced and limited number of service providers.

Nowadays, companies prefer to outsource entire departments than individual processes. Advantage of this is increase in the ability of the company to devote more resources to core business, products can be brought to the market faster and there is reduction in overheads.

India dominates the BPO market, but other nations are attempting to take over a share of global BPO market. Technical skills and infrastructure of these countries are being upgraded. China is experiencing growth in non-voice processes with its constant growth in infrastructure. Mexico and Canada also have an advantage of being closer to the US.

These and other market data and trends are presented in "Business Process Outsourcing: A Global Strategic Business Report" published by Global Industry Analysts, Inc. This GIA report discusses the prevailing trends, issues, demand forecasts, and activities that affect the industry.

The business process outsourcing market is analyzed in $ Billion by the following geographic regions -- United States, Canada, Europe, Asia-Pacific (including Japan), and Rest of World; and service segments - Logistics, Sales & Marketing, Customer Care, Finance & Accounting, Human Resource and Other Services. Analytics for the period 2000-2015 provide a comprehensive understanding of the market.

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