In a survey done by Tholons Research, a consultancy agency in Bangalore, India has once again toppled other countries as the global leader of the IT-BPO industry, with revenues reaching $59 billion and covering 51% of the global offshore market.
According to the report, both India and the Philippines have established a solid position in the global outsourcing industry. This can be attributed to their talent pool and revenue share over the years. Indiaís IT-BPO sector has 1.98 million direct employees and 7.5 million indirect employees. On the other hand, the Philippines has recently become the leader of voice-based offshore processes.
Meanwhile, the National Association of Software and Services Companies (Nasscom) stated that for 2011, IT activities reached $574 billion and BPO spending amounted to $158 billion worldwide. However, large global companies are seen to have outsourced only 15% ($110 billion) of the total $732 billion to locations such as the Philippines, India, China and Malaysia. This means there is still more room for growth of the industry.
South East Asia, Latin America, and Africa are expected to cash in on the offshore outsourcing industry by addressing the growing demand of the market.