Thaindian News

New Delhi, Aug 22 (IANS) 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, research firm Gartner said Monday.

“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.

“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.

Worldwide, the BPO market is forecast to grow 6.3 percent in 2011 and 5 percent 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.