Gartner, the IT research and advisory firm has estimated that the business process outsourcing (BPO) market in India will record a 25 percent growth in the year 2010. On a year-on year basis, the Indian BPO industry has recorded a market growth of about 7.3 percent in 2009. The reason for this reported growth is indicated to the global economic ambiguity that led to the both volume and price pressures.
In a statement issued by Gartner, it has been estimated that the domestic Indian BPO market would be experiencing a growth rate of about $ 1.2 billion by 2011. In 2013, the BPO market growth will be experiencing a growth of $1.8 million.
The Indian BPO market happens to be one of the most organized and highly expanding services segment. According to the Research director of Gartner, T J Singh, the market trends like changing demographics, consumption of the value added services, affluence levels, increasing focus on the service quality and continued momentum of the acquisitions and mergers is obvious to influence the shifts in the buyer behavior and needs.
Over the last two years or so, most of the Indian BPO service providers and few of the multi-national companies are found focusing mainly on the foreign offshore services market. This has shifted a greater focus and the investments to the domestic market as said by TJ Singh.
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