Global BPO market poised for growth
“While growth remains strong in developing economies, the US, the world's largest BPO market, presents a mixed picture for the global market,” Gartner research VP Tornbohm said in a statement.
Tornborn added that emerging markets are faring far better and, generally, multinational companies continue to look to BPOs as a means to reduce costs, as well as buoy their business operations.
The report also sees an increase in transaction volume, especially in payroll, recruiting, accounts payable, and customer data analytics and knowledge process outsourcing activities, writes CBR.
Gartner estimates that North America's BPO market will grow 3.8% in 2011, and Canada has also seen major BPO initiatives throughout the decade in the energy sector, as well as an active domestic BPO service provider market.
In Western Europe, Gartner estimates that the BPO market will grow by 8.9% in 2011 due to demand for services relating to customer management, finance and accounting and human resources.
However, it was noted that mainland Europe's mix of cultures and languages may be holding the BPO market back, reveals Information Age.
“In continental Europe, the challenges of overcoming language requirements, labour laws and trade unions, and a lack of labour arbitrage benefits, still limit adoption of many types of BPO,” the report said.
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