by: Karen Cayamanda
Thursday, November 18, 2010 | Outsourcing News |
Canada-based ICT research and advisory firm XMG Global said China is consistently narrowing the gap with India as the no.1 outsourcing location of choice.
China is expected to end 2010 with US$35.76 billion in outsourcing revenues, a 28.7 percent global market share. On the other hand, India’s outsourcing industry still has the lion’s share of the market with 43.7 percent.
China posted a 30 percent growth rate, while India only increased by 14 percent. XMG chief analyst Lauro Vives said the revenue gap between these countries is getting smaller. "India's weakening lead is due to the substantial efforts of China, the Philippines, and other offshoring destinations in building their capacity to attract significant amount of investment," Vives said, adding that India maintains its lead, but other offshore outsourcing destinations are starting to mature.
By the end of this year, the global outsourcing market is expected to post US$425 billion estimated total revenue.
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