Steep Growth in the BPO sector in India and China until 2015

By: elizaeth123


Research firm Gartnerhas predicted that India and China, two of the fast-growing economies, will witness continuous growth in their Business Process Outsourcing (BPO) industries until 2015. Fueling this growth is the predicted constant rise in demand for outsourcing services in customer management, accounting, banking, and financial sectors. Gartner has also projected an increase in transaction volume, especially in payroll, recruiting, accounts payable, and customer data analytics and knowledge process outsourcing (KPO) activities.
The report "expects higher demand for services related to CM BPO, HR outsourcing, finance and accounting outsourcing, banking and financial BPO services, billing BPO services and supply management BPO through 2015. Most growth will centre on the key regional economies of India, Australia and China."
The key forces driving the growth of BPOs in emerging economies, according to the report, are scalability, infusion of enhanced technology, and improved quality of service. The outlook for Asia-Pacific's BPO market remains positive, with growth in 2011 estimated to have been well over 15 percent in terms of US dollars. The prospect for Global BPO market in 2012 is encouraging with a growth of about 5 percent predicted. A similar growth is forecast for the global BPO market as well.
According to Gartner, in developed economies the mixed outlook for BPO has resulted in less enthusiastic predictions. "While growth remains strong in developing economies, the United States, the world's largest BPO market, presents a mixed picture for the global market," said Cathy Tornbohm, research vice president, Gartner. "Emerging markets are faring far better and, generally, multinational companies continue to look to BPO as a means both to reduce costs and to buoy their business operations during the protracted return to a growth environment," she added. NEW DELHI, INDIA: Key economies like India and China will see growth in the Business Process Outsourcing (BPO) market with rise in demand for outsourcing services in customer management, accounting, banking and financial sectors by 2015, "Gartner expects higher demand for services related to CM BPO, HR outsourcing, finance and accounting outsourcing, banking and financial BPO services, billing BPO services and supply management BPO through 2015," said the report.Also Read: IT-BPO exports to grow by 16-18 p.c in FY12."Most growth will centre on the key regional economies of India, Australia and China," it added.The report cited scalability, infusion of enhanced technology and improved quality of service to be the key drivers for the growth of BPOs in emerging economies adding that the outlook for Asia-Pacific's BPO market remains positive, with growth in 2011 expected to be 17.9 percent in terms of US dollars.Global BPO market to grow 5 per cent in 2012 Worldwide, the BPO market is forecast to grow 6.3 per cent in 2011 and 5 per cent in 2012.According to the research firm, the outlook for BPO is mixed in developed economies, and this has resulted in a tempering of growth expectations.
"While growth remains strong in developing economies, the United States, the world's largest BPO market, presents a mixed picture for the global market," said Cathy Tornbohm, research vice president, Gartner."Emerging markets are faring far better and, generally, multinational companies continue to look to BPO as a means both to reduce costs and to buoy their business operations during the protracted return to a growth environment," he added.Gartner also projected an increase in transaction volume, especially in payroll, recruiting, accounts payable, and customer data analytics and knowledge process outsourcing (KPO) activities.

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elizaeth who is writing on behalf of Quscient provides Call Center India.

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