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Europe is Now the Largest Outsourcing Market Globally

by: Sarah Joson

Friday, November 15, 2013 | Outsourcing News |

Results from Everest Groupís Market Vista: Q3 2013 report indicated that the largest outsourcing market in the world right now is Europe with a market share of 43 percent, while US accounts for 35 percent. Europe also bagged two of the three largest deals recorded for this yearís third quarter, with each having a value of US$1 billion or more. Those deals were the multi-billion euro deal of UniCredit, and the GBP 1.2 billion deal of Telefonica. The other mega deal was the US$1.25 billion contract of the Centers for Medicare and Medicaid Services in the US.

Other details highlighted in the report are major outsourcing transactions that occurred during the third quarter, state of the global offshoring environment, GIC (global in-house center) developments, as well as risks and changes among the major service providers.

With the incentive packages offered by Central European governments and sluggish recovery of economies worldwide, the number of GICs was noted to have increased and expanded in Central and Eastern Europe.


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